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INDEX TO MINUTES
OF
BOARD OF GOVERNORS
OF THE
FEDERAL RESERVE SYSTEM
1963
(PART 4)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
908
Pages
Reuss, Henry S., Congressman:
Federal Open Market Committee record of policy
actions requested by, as member
of Joint Economic Committee, in
advance of submission of Board's
Annual Report to Congress, agreed
to contact Chairman Douglas advising that the record as requested
by, would be sent as soon as possible, Governor Mills dissenting
Revised Statutes:
Section 5136:
Bankers Trust Company of New York, New York:
Question re violation of, through proposed purchase of stock of First
National Bank of Farmingdale, New
York, by BT New York Corporation,
subsidiary of, situation being
studied
Matter discussed further, letter to
Comptroller of the Currency
Further discussion, draft of proposed
letter to, transmitted to Comptroller of the Currency for
comment
In violation of, retention of stock of
BT New York Corporation, by,
would be unlawful, advice to,
position of Comptroller noted
Bonds, municipal revenue, S. 828, a bill to
grant national and State member
banks limited authority to underwrite, letter to Senator Robertson
of Senate Banking and Currency
Committee, stating Board does not
favor enactment, believes, however,
that legislation clarifying meaning of term "general obligation"
as used in section 5136 of Revised
Statutes is urgently needed
Investment securities:
Proposed amendment of, that would authorize member banks to underwrite
and deal in revenue bonds to a
limited extent, Governor Mills
to be recorded as opposing enactment, since he would be on vacation during Board discussion
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Federal Reserve Bank of St. Louis
2/4
428, 437
3/6
782
3/18
896, 927
4/19
1269, 1307
4/30
1399, 1411
9/19
3243, 3259
9/4
3026
1963
909
Pages
Revised Statutes: (continued)
Section 5136: (continued)
Investment securities: (continued)
Limitations with respect to the underwriting of, as provided by, indicated by Board that revenue
bonds issued by State of Washington would not be "general obligations" of the State within the
meaning of, and not eligible for
underwriting by State member banks,
Advice to Morgan Guaranty Trust
Company, New York, New York, with
copies to all FRBanks
H.R. 5845, a bill to amend, to permit
banks to underwrite and deal in
"revenue bonds" of States and
political subdivisions, and to
relax restrictions re underwriting and investing in public housing agency securities, statement
for Chairman Martin for hearing
before House Banking and Currency
Committee discussed, to be discussed further at tomorrow's meeting
Further discussion re Chairman Martin's
testimony before House Banking and
Currency Committee on September
24, 1963 on H.R. 5845, a bill to
amend
Revision of regulation of Comptroller
of the Currency, with respect to,
question re applicability of
State member banks in light of
issuance under paragraph 7 of,
matter to be deferred for further
consideration, revision not to
be published in the FRBulletin
Board issued statement as it relates
to State member banks, press release issued, understood statement to be published in Federal
Register and FRBulletin
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/4
3020, 3048
9/18
3214
9/19
3242, 3243
10/14
3534
11/13
3929,3941-45
1963
910
Pages
Revised Statutes: (continued)
Section 5136: (continued)
Mercantile Trust Company, St. Louis, Missouri:
Possible purchase of corporate stock or
proposed contribution to surplus
of its wholly-owned subsidiary,
Mississippi Valley Co., would violate section 9, FRAct, and, proposed purchase of corporate stock
by the subsidiary also considered
illegal, advice to
Stock of Ozark Plaza Motor Hotel, Inc.,
acquired through foreclosure proceedings by, not considered as a
prohibited purchase of corporate
stock under section 9, of the
FRAct and
Further discussion re violations in
connection with proposed transactions involving
Letter to, requesting Board be informed
soon re steps taken to correct violations of section 5155, Revised
Statutes, relating to branch operations
Section 5144:
Readily marketable assets, inquiry from Commercial Associates, Inc., Pensacola, Florida, re necessity of
Board's certification of a reserve
provided for in, letter to FRBank
of Atlanta approved
Section 5145 and Section 5149:
Letter to Bureau of the Budget on S. 2228,
a bill to amend section 5145 of
the, to change the annual meeting date for national banks, the
bill would also make a technical
conforming amendment to section
5149 of, Board recommends approval of bill
5200:
Section
Amendment of, proposed to increase the limit
on the maximum liability of a
single borrower to a national bank,
draft bill re, discussion re effect
on State-chartered banks and small
banks, question re manner of expressing Board's opposition to
proposal, revised draft of report
to Budget Bureau to be prepared
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/20
1996, 2022
6/21
2028, 2036
7/1
2167
7/26
2455, 2479
4/29
1376, 1387
12/19
7/3
4456, 4468
2192
1963
911
Pages
Revised Statutes: (continued)
Section 5200: (continued)
Board not in favor of liberalization of the
law, report sent to Budget Bureau
Debentures, issuance of capital, capital
notes, or other obligations by
national banks may be included
as part of such bank's unimpaired
capital surplus funds for purpose
of computing limit of loans to
individual borrowers prescribed
by
Section 5208, overdrafts, certification of checks
drawn on account in overdraft,
question re violation of, in
light of information received involving First National City Bank
of New York, Panama City Branch,
and Panama Plumbing and Supply,
Inc., Balboa, Canal Zone, reply
to inquiry from Congressman
Schadeberg, approved
Robberies:
FRBank of Boston, holdup of United States mail
truck in Plymouth, Massachusetts,
proposal to extend reward offer,
noted without objection by Board
State member banks, preventive measures being
taken by Board to cope with,
reply to inquiry from Congressman
Fascell with respect to
Robertson, A. Willis, Senator:
Advances by FRBanks to member banks, proposed
legislation amending the FRAct
to authorize, as a substitute for
the restrictive requirements relating to the "eligibility" of
paper for discount or as security
for advances by the FRBanks, letter to Chairman Patman of the
House Banking and Currency Committee, and Chairman of the Senate Banking and Currency Committee approved and personally presented on August 21
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Federal Reserve Bank of St. Louis
7/10
12/27
2219, 2249
4558
2/18
604, 619
3/8
834
5/1
1419, 1427
8/8
2617, 2641
1963
912
Pages
Robertson, A. Willis, Senator: (continued)
Audit of Board's account for 1962, by Haskins &
Sells, copy sent to, as chairman
of Senate Banking and Currency
Committee
Procedures for granting charters and approving
branches of national and State
banks requested by, particularly
in relation to recent experience
in 10th Congressional District
of Virginia, procedures re membership applications and branch
bank applications of State member
banks sent to
S. 374 and S. 474, bills to provide for establishment by Federal Home Loan Bank
Board of an International Home
Loan Bank, report to Senator
Robertson approved for transmittal, request for report
subsequently withdrawn by Senator Robertson
S. 607 and H.R. 258, identical bills to authorize the establishment of Federal mutual savings banks, similar
letter to Chairman Robertson and
Chairman Patman of the Banking
and Currency Committees of the
Senate and House, transmitting
an appraisal prepared by the
staff and concurred in by the
Board, approved
S 731, a bill to repeal certain legislation relating to purchase of silver, to
authorize FRBanks to issue Federal Reserve notes in $1 denomination, and to terminate the special
tax on transfers of silver bullion, report sent to
S. 750, a bill to require disclosure of finance
charges in extensions of credit
to assist in promotion of economic stability, report sent to
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/13
538, 548
7/10
2219, 2245
2/18
603, 604
4/2
1112,1128-29
2/14
553, 564
2/20
647, 660
1963
913
Pages
Robertson, A. Willis, Senator: (continued)
S. 810, S. 811, and S. 2130, re mortgages, bills
to improve marketability of mortgages not presently underwritten
by Federal Government, letter to,
reporting on, Board believes that
certain questions arising from
these proposals should be carefully considered and resolved before action is taken with respect
to any of the three bills
S. 828, a bill to grant national and State member
banks limited authority to underwrite revenue bonds, letter to,
Chairman of Senate Banking and Currency Committee, stating that
Board does not favor enactment of
S. 874, a bill to authorize construction and
equipping of buildings required
in connection with operations of
the Bureau of the Mint, favorable
consideration urged in light of
recurring coin shortages, report
to
S. 1200 and S. 2226, bills that would authorize
Federal Housing Administration
to compensate mortgagors for
structural defects in insured
homes, letter to Chairman Robertson of Senate Banking and Currency Committee approved
S. 1642, a bill to amend Securities Exchange Act
of 1934 and Securities Act of
1933, to extend coverage to certain over-the-counter stocks including bank stocks, report sent
to, with memorandum commenting
on certain problems
S. 2259, a bill to amend section 24 of FRAct to
liberalize conditions of loans by
national banks on forest tracts,
letter to Senator Robertson of
Banking and Currency Committee re
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/27
3360, 3386
9/19
3243, 3259
3/6
799, 815
10/16
6/19
12/23
3563, 3580
1975, 1982
4497, 4501
1963
914
Pages
Rockefeller Public Service Awards:
Young, Ralph A., Adviser to the Board and Director
of the Division of International
Finance, proposed nomination for
Rome:
Euramerica Finanziaria Internazionale S.p.A., Rome,
Italy, consent granted for Morgan
Guaranty International Finance
Corporation to purchase shares of
Royalties:
Staff of Board of Governors, Policy, annual survey
of Personnel Administration re,
understanding that any individual
reporting writing activity would
be advised of policy re honoraria
and, Governor Shepardson reviewed
information presented and found
nothing to question
Salaries
Athens Records Center:
Employees, cancellation of salary structure
applicable to, resulting from
closing of
Baltimore Branch:
Employees:
Increase in clerical salary structure
for Grade 1 employees, approved
Proposed revision of salary structure
at head office, Charlotte and
Baltimore Branches, revision deferred, pending further information
Salary structure approved
Birmingham Branch:
Employee salary structure, approved increases for Grades 12 thru 16 at
Head Office not applicable to,
since same positions do not exist,
Board requests further review of
proposed Branch revisions
Buffalo Branch:
Employees, increase in clerical salary structure for Grade 1 employees, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/17
1248
1/31
380, 398
10/3
3425
10/21
7/12
3586
2274, 2280
11/1 3735
11/13 3916, 3938
1/30
295, 377
7/12
2274, 2279
1963
915
Pages
Salaries: (continued)
Charlotte Branch:
Employees:
Increase in clerical salary structure
for Grade 1 employees, approved
Proposed revision of salary structures
at head office, Baltimore and
Charlotte Branches, revision deferred, pending further information
Salary structure approved
Cincinnati Branch:
Employees, revision in minimum of Grade 1,
approved
Denver Branch:
Employees:
Increase in salary structure, approved
Agreed to approve proposal of FRBank of
Kansas City for increases in
Grades 1 thru 11, but to defer
action on proposed revised ranges
in Grades 12 thru 16 of Head
Office-Denver structure pending
completion of a study Governor
Shepardson was making in conjunction with the Division of
Personnel Administration
Memorandum reporting results of study
made by Governor Shepardson and
Personnel Division, adjustments
in Grades 12 thru 16 of Head Office-Denver Branch salary structure, if requested by directors,
Bank to provide constant 11.1 per
cent increase over present midpoints, along with special maximum for Grade 16
Increase in Grades 12-16, approved
Government:
Federal
Report being prepared by Randall Commission
on executive, certain information
re salaries of FRBank officers
sent to Budget Bureau for use in
preparing supplemental information for Randall Commission
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/12
2274, 2280
11/1 3735
11/13 3916, 3938
10/21
3586
8/13
2701, 2710
10/9
3489, 3501
11/13
12/18
3/28
3919, 3940
4411, 4439
1053, 1067
1963
916
Pages
Salaries: (continued)
FRBank of Atlanta:
Employees, nonofficial salary structure,
minimum and maximum salaries for
Grades 12 thru 16, applicable to
the Head Office only, approved,
review requested re proposed revisions at the Branches, increases
not supportable on same basis
since same positions do not exist
Officers, minimum and maximum ranges for officer salary groups approved, request for missing minimums for
three groups
Boston:
FRBank of
Employees:
Increase in salary structure approved
In report of examination of, discussion re salaries not reimbursed
by employees who had left, Mass.
law requires employers to be
within a week of current status
in salary payments, with no retirement deductions made by
FRBanks for employees with salaries under $4,200 per annum,
Boston Bank did not have recourse
to retirement contributions in
obtaining salary refunds
FRBank of Chicago:
Employees:
Top grades other than officers, such
as economists, file re, currently circulating to Board, agreed
that Governor Shepardson work
with Division of Personnel Administration on a memorandum to be
presented to the Board re arguments for and against a plan
Governor Shepardson had suggested
re creation of additional grades
at upper end of salary structure
for certain types of positions
Revision of structure approved
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Federal Reserve Bank of St. Louis
1/30
295, 377
2/8
509, 516
8/21
2836, 2846
12/2
4164
9/19
9/23
3247
3268, 3291
1963
917
Pages
Salaries: (continued)
FRBank of Chicago: (continued)
Nonclerical employees:
Payment of salaries to Head Painter
and Painter, approved
Payment of salaries to Plumber, Head
Carpenter, and Carpenter, approved
Possibility of approving by a single
Board action the levels of compensation of certain classes of
employees whose salaries are
geared to labor contracts, staff
to prepare memorandum re
Division of Personnel Administration
memorandum recommending that Board
approval be requested only if rate
was in excess of applicable grade
maximum, and under such circumstances Board to approve adjustments for length of the contract
rather than to date of next scheduled increase, recommendation approved
Payment of salary to the Marble Maintenance Man, approved
Payment to Bank Elevator Operators and
Starters at specified rates in
excess of grade maximums, approved
Payment to Bank Engineers and Firemen
at specified rates in excess of
grade maximums, approved
Salary increased at rates above the
maximum of the grade in which
the position is classified for
Class B Electricians
Increase above maximum of grades in
which positions of Janitor, Marble
Maintenance Man, Paper Baler, and
Matron are classified
FRBank of Dallas:
Employees, payment of salary above maximum
to Harold M. Simmons, Senior
Security Files Clerk at Records
Storage Center approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/18
895, 920
6/28
2134, 2144
6/28
2135
7/31
2516, 2523
7/31
2517, 2524
10/24
3640, 3662
10/24
3641, 3663
11/14
3948, 3965
11/26
4095, 4105
419
1168, 1186
1963
918
Pages
Salaries: (continued)
FRBank of Kansas City:
Employees:
Top grades other than officers, such
as economists, correspondence
from President Clay of FRBank
of Kansas City proposing headroom at upper end of salary
structure, agreed that Governor
Shepardson work with Division of
Personnel Administration on a
memorandum to be presented to the
Board re arguments for and against
a plan that Governor Shepardson
had suggested
Agreed to approve proposal of, for increases in Grades 1 thru 11 of
Head Office-Denver structure,
but to defer action of proposed
revised ranges in Grades 12 thru
16 of Head Office-Denver structure pending completion of study
by Governor Shepardson and the
Division of Personnel Administration
Memorandum reporting results of study
made by Governor Shepardson and
Personnel Division, adjustments
in Grades 12 thru 16 of Head Office-Denver Branch salary structure, if requested by directors
of, Bank to provide constant 11.1
per cent increase over present
midpoints, along with special
maximum for Grade 16
Increase in Grades 12-16 approved,
with special maximum of $17,500
for Grade 16 at
FRBank of Minneapolis:
Employees, revised salary structure approved
FRBank of New York:
Auditor, General, review requested by Board's
Committee on Organization, Compensation, and Building Plans in connection with proposed officers
salaries at the Bank for 1964
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/19
3247
10/9
3489, 3501
11/13
3919, 3940
12/18
4411, 4439
4/8
10/28
1156, 1162
3688
1963
919
Pages
Salaries: (continued)
FRBank of New York: (continued)
Employees:
Payment of salary to sixteen employees
until June 30, 1963, at rates
below the minimums of grades in
which their positions are classified, approved
Letter approving the special maximum
for Grade 16 of the salary structure noted without objection
Officers, other than Presidents and First
Vice Presidents:
Letter with a technical variation from
that sent to all other FRBanks
re revisions made to assist Bank
in setting appropriate compensation and in retaining younger men
with appropriate compensation for
official future advancement,
guidelines suggested
FRBank of Philadelphia:
Auditor, General, salary alignment questioned in unusual increase for G.
William Metz upon his appointment
as, Division of Personnel Administration memorandum recommending
that the Board encourage a conservative upward adjustment of
individual salaries
Employees, increase in minimums of Grades 2
and 3, approved
FRBank of Richmond:
Employees:
Increase in clerical salary structure
for Grade 1 employees, approved
Proposed revision of salary structures,
matter deferred pending further
information
Salary structure approved
Increase in Grade 16, maximum of $17,500
approved, noted that such a special maximum would be approved
for any Bank requesting it
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/8
12/24
1155, 1158
4528, 4543
9/19
3247, 3264
5/3
1446
9/3
2997, 3009
7/12
2274, 2280
11/1 3735
11/13 3916, 3938
12/30
4580
1963
920
Pages
Salaries: (continued)
FRBank of St. Louis:
Employees:
Revision in structure at Head Office
and branches, approved, revision
takes specifically into account
the minimum hourly wage rate to
become effective September 1,
1963
Letter to, approving a special Grade
16 maximum of $17,500 applicable
to Head Office salary structure,
effective immediately
FRBanks:
Audit staff:
Method of handling salary proposals for
members of, letter to FRBanks
clarifying Board's views to be
drafted
Question re fixing salaries according
to standards differing from uniform classification standards
applicable to FRBank employees
in other functions, discussed
Employees:
Minimum hourly wage rate to become
effective September 1, 1963,
Division of Personnel Administration authorized to advise inquiring FRBanks that there would
be no objection to their submitting salary structure revisions
to so reflect
Salary structures, techniques used by
FRBanks in determining, suggestion that Division of Personnel
Administration study, to help
resolve inconsistency between
possible furtherance of wagecost spiral and problem of recruiting competent staffs
Employees, top grades, other than officers:
Agreed that Governor Shepardson work
with Division of Personnel Administration on a memorandum to be
presented to the Board re arguments for and against a plan that
Gov. Shepardson had suggested re
creation of additional grades at
the upper end of the salary struc
ture
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/29
12/18
1376, 1389
4427, 4451
3/27
1035
5/3
1447
4/29
1377
4/29
1378
9/19
3247
1963
921
Pages
Salaries: (continued)
FRBanks: (continued)
Employees, top grades, other than officers: (continued)
Governor Shepardson and Division of
Personnel Administration to undertake study re
9/23 3268, 3291
Memorandum from Division of Personnel
Administration reporting on results of study made by Governor
Shepardson and Personnel Division,
recommendations approved for
Grades 12 thru 16, with understanding that Board would approve
for any bank an addition to its
normal Grade 16 maximum, letter
to all FRBanks except Kansas City
11/13 3919, 3939
Officers, other than Presidents and First
Vice Presidents:
Tabulation of certain categories of salaries sent to Mr. Lehman, Bureau
of the Budget, for use in preparing supplemental information for
the Randall Commission
3/28 1053, 1067
Letter to Chairman and Presidents of all
FRBanks with a separate letter to
the Chairman and President of the
FRBank of New York, re revisions
made to assist Banks in setting
appropriate compensation for official future advancement
9/19 3247, 3262
4253,4377-02
Salaries approved
12/9
Presidents, tabulation of certain salary information sent to Mr. Lehman,
Bureau of the Budget, for use in
preparing supplemental information
for Randall Commission
3/28 1053, 1067
Presidents and First Vice Presidents:
Noted that some of the FRBanks were
overlooking the guidelines re
specified time lag necessary before an increase could be made
in salaries for, decided that no
general letter would be necessary,
but agreed that guidelines stated
in Board's letter should be followed
11/18 4027
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
922
Pages
Salaries: (continued)
FRBanks: (continued)
Presidents and First Vice Presidents: (continued)
Salaries re, for FRBanks of New York,
Philadelphia, Richmond, Atlanta,
Chicago, St. Louis, Dallas, and
San Francisco approved for 1964,
with President Swan and First
Vice President Hemmings of the
FRBank of San Francisco, and
First Vice President Helmer of
FRBank of Chicago not eligible
for increases, also approved at
current rates for FRBanks of
Boston, Cleveland, Kansas City,
and the President of the FRBank
of Minneapolis, if so fixed by
12/9
Directors
Reply to FRBank of Boston upon receipt
12/9
of advice from Directors
Question raised re the effectiveness
of the guidelines established by
the Board re frequency and size
12/9
of salary adjustments of
Helena Branch:
4/8
Employees, revised salary structure approved
Jacksonville Branch:
Employee salary structure, approved increases
for Grades 12 thru 16 at Head
Office not applicable to branches
since same positions do not exist,
Board requests further review of
1/30
proposed branch revisions
Little Rock Branch:
Employees, revision in structure approved,
including the minimum hourly
4/29
wage
Louisville Branch:
Employees, revision in structure approved,
including the minimum hourly
4/29
wage
Memphis Branch:
Employees, revision in structure approved,
including the minimum hourly
4/29
wage
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4254,4303-10
4255, 4311
4255
1156, 1162
295, 377
1376, 1389
1376, 1389
1376, 1389
1963
923
Pages
Salaries: (continued)
Nashville Branch:
Employee salary structure, approved increases
for Grades 12 thru 16 at Head Office not applicable to branches
since same positions do not exist,
Board requests further review of
proposed branch revisions
New Orleans Branch:
Employee salary structure, approved increases
for Grades 12 thru 16 at Head Office not applicable to branches
since same positions do not exist,
Board requests further review of
proposed branch revisions
Oklahoma City Branch:
Employees, agreed to approve proposal of
FRBank of Kansas City to increase
in Grades 1 thru 16 of
Omaha Branch:
Employees, agreed to approve proposal of
FRBank of Kansas City for increases
in Grades 1 thru 16 of
Pittsburgh Branch:
Employees, revision in minimum of Grade 1,
approved
Portland Branch:
Employees, increase in structure approved
Salt Lake City Branch:
Employees, increase in structure approved
Staff of Board of Governors:
Chauffeur positions in Division of Administrative Services:
Transfer from regular salary schedule
to Metropolitan D. C. Prevailing
Rate (Wage Board) Schedule,
approved
Increase for Assistant Supervisor,
Motor Transport Unit, and three
other chauffeurs under Wage Board
Schedule, not subject to adjustment effective January 5, 1964
Employees:
General pay increase adopted by Board,
effective January 5, 1964
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/30
295, 377
1/30
295, 377
10/9
3489, 3501
10/9
3489, 3501
10/21
3586
7/8
2205, 2214
7/8
2205, 2214
6/28
2137
12/30
12/9
4580
4251, 4274
1963
924
Pages
Salaries: (continued)
Staff of Board of Governors: (continued)
Employees: (continued)
Provision for second phase of general
pay increase to be effective on
the first day of the first pay
period on or after January 1,
1964, previous approval confirmed
Lithographic positions, new Printing Grade
Pay Schedule and change in salary
rates of present incumbents approved
Mechanical force, revised wage rate schedule
applicable to manual labor (including gardener), semi-skilled
and skilled manual labor, trade
and craft positions, salary rates
effective December 8, 1963, approved
Merit increases approved
Merit increases approved
Merit increases, Board to forego customary
review in January 1964, for, in
light of structural increase
stemming from the general increase
in pay at the beginning of 1964
Mitchell, John I., Laborer, change in title
from Operating Engineer's Helper,
with adjustment in salary approved
Nurses, Substitute, increase in salary rate,
approved
Official Staff, maximum rate of $27,500
established, views expressed re,
Governors Mills and Robertson
dissenting
Individual salaries approved with dissents by Governors Mills and
Robertson reiterated
Provision for salary increase made in
budget for 1964, approved
Increase in the Board's budget for 1964
in an amount corresponding to the
total of the salary increases
involved, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/9
4262
11/8
3898, 3914
12/9
1/7
7/1
4263, 4312
43
2170
9/26
3345
10/15
3549
6/4
1823
12/2
4171
12/9
4259
12/9
4253, 4274
12/9
4262
1963
925
Pages
Salaries: (continued)
Staff of Board of Governors: (continued)
Overtime compensation, Board approved existing policies in respect to overtime of Board employees under
regular salary structure and Wage
Board Salary structure
Printing Grade Pay Schedule, changes in:
SEE: Salaries:
Staff of Board of Governors:
Lithographic positions
Withholding taxes for employees residing in
Maryland or Virginia, Office of
Controller authorized to withhold
from salary checks, if requested
in writing
State member banks:
Officer salary figures as indicated in reports of examinations, request
from a staff member of the House
Banking and Currency Committee
for use in the survey re management succession and compensation,
similar data to be requested from
national and nonmember insured
banks if Board has no objection
to proposal, understood consideration would be given if formally
requested by Committee
Letter to Congressman Patman indicating
willingness to supply, sent following advice re favorable action
by FDIC, understood that Comptroller of the Currency had agreed to
comply
Study re salaries for top grade employees, other
than officers, at FRBanks, agreed
that Governor Shepardson and Division of Personnel Administration
would undertake
Results of study could probably be presented
to the Board within a relatively
short time
Division of Personnel Administration memorandum reporting re, recommendations
approved for Grades 12 thru 16,
with the understanding that the
Board would approve an addition
to its normal Grade 16 maximum,
letter to all FRBanks except
Kansas City
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/23
2912, 2917
10/4
3437
8/1
2536
8/8
2601, 2638
9/23
3268, 3291
10/9
3491
11/13
3919, 3939
1963
926
Pages
Savings and loan associations:
SEE ALSO: Federal savings and loan associations:
Directors of FRBanks, eligibility to serve as a
Class B director, if officer of,
not eligible if sole occupation,
1925 Board position that a candidate must be actively engaged in
commerce, agriculture, or industry,
letter to all FRBanks referring
to 1925 interpretation, approved
Insurance of accounts:
H.R. 5130, a bill to increase the insurance
limit from $10,000 to $25,000 on
bank deposits and savings and
loan shares, discussion re draft
statement with respect to, no
objection to expressing view that
the proposed increase would not
be in the public interest, understood that a revised draft would
be prepared, statement to be
presented by Governor Balderston
before House Banking and Currency Committee on April 25, 1963
Revised draft considered appropriate,
understood that any specific
suggestions would be sent to
Governor Balderston
increase, and to extend reserve
to
Proposal
requirements to mutual savings
banks and, contained in report
of Committee on Financial Institutions, Mr. Solomon designated
to attend interagency meeting to
prepare draft legislation re
Draft bill (deposit insurance bill) to increase from $10,000 to $15,000,
and to require reserves against
time and savings deposits of nonmember banks and, staff to draft
report to Budget Bureau
Report sent to Budget Bureau, Governor
Mills dissenting
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/19
2797, 2827
4/17
1246
4/19
1274
4/26
1347
5/15
1578
5/16
1599, 1627
1963
927
Pages
Savings and loan associations: (continued)
Insurance of accounts: (continued)
Draft bill: (continued)
Revised draft of bill received, Budget
Bureau to be informed that Board
would be unable to express views
by indicated deadline
Report to Budget Bureau on revised
draft bill approved, Governor
Mills dissenting
Further discussion
Formal report on second revised draft
of bill sent to Budget Bureau,
Governor Mills dissenting
Schadeberg, Henry C., Congressman:
Legal questions asked by, on behalf of Angus O.
Matheney, President of Panama
Plumbing and Supply, Inc., Balboa,
Canal Zone, in light of suit by
First National City Bank of New
York, Panama City Branch, re
certification of checks drawn on
account in overdraft, and re trying of cases under the laws of
the United States, or laws of a
foreign country, reply approved
Schneider, Charles W., Hearing Examiner, National
Labor Relations Board:
Extension of detail on reimbursable when-actuallyemployed basis, for purpose of
conducting hearing under section
4(c)(6), Bank Holding Company
Act, requested from NLRB
Designated hearing examiner for hearing re request from Otto Bremer Company
for determination under section
4(c)(6)
School:
SEANZA Banking School:
Central Banking Course, Arthur B. Hersey,
Adviser, Division of International
Finance, designated to give lectures during February 1964, at
next, in accordance with request
from Governor of Pakistan, Mr.
Hersey's travel to Pakistan approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/23
1728
5/27
6/4
1768, 1780
1815
6/10
1860, 1874
2/18
604, 619
4/24
1319
4/29
1376
9/23
3279, 3293
1963
928
Pages
School: (continued)
Stonier Graduate School of Banking at Rutgers
University, Brunswick, New Jersey,
Frederic Solomon, Director, Division of Examinations, permission
granted to participate in a panel
discussion of bank supervision at
the, while on annual leave, expenses to be paid by the school
including an honorarium
Large number of theses submitted by Federal
Reserve personnel were accepted
for school library, Governor
Mills suggested that recognition
be given for this achievement
Securities:
Loan value of securities used for deposits required by Regulation T to meet
margin calls re transactions
executed before change in margin
requirements, interpretation for
publication in Federal Register
and for press release
Safekeeping by FRBanks:
Book-entry procedure for handling United
States government securities held
by FRBanks for member banks, proposed as a substitution for current procedure re, views and comments of Presidents' Conference
requested
Question referred to the Couaittee on
Fiscal Agency Operations for study,
no objection to obtain views from
the auditing standpoint, reported
at joint meeting of Presidents'
Conference
Question whether procedures of all FRBanks
had been modified to include
steps conforming to House Banking
and Currency Subcommittee recommendations, raised in review of
examination of FRBank of San
Francisco, possibility of FRBank
of New York checking security
handling arrangements of major
New York City commercial banks
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/11
10/10
1887
3520
11/8
3890,3903-05
6/11
1884, 1895
6/18
1963
6/28
2137
1963
929
Pages
Securities: (continued)
Safekeeping by FRBanks: (continued)
Chairman of Presidents' Conference requested
to designate a Committee to make
study of, and make recommendations
re general standards for, letter
to FRBanks listing precautionary
practices re, and requesting replies re use of such measures
Securities Act of 1933:
S. 1642, a bill to amend, discussion re draft of
report to Chairman Robertson,
Senate Banking and Currency Committee, agreed draft be revised
Report sent to Chairman Robertson
Report to Congressman Harris, Chairman of
House Committee on Interstate
and Foreign Commerce, approved
with Governor Mills dissenting
Securities Exchange Act of 1934:
Credit regulations:
Memorandum by Mr. Dembitz presenting four
alternative approaches for consideration re broadened statutory authority subjecting all
loans collateralized by both
listed and unlisted securities
to margin regulations, view of
Board members expressed, understood that the staff would follow Chairman Martin's suggestion
to hear the Securities and Exchange Commission's staff rather
than initiate proposals
of:
Extension
Draft bill providing certain provisions including financial reporting,
proxy regulation, and controls
on insider trading, covering overthe-counter stocks and bank stocks,
applicable to banks with 300 or
more stockholders, being redrafted
by the Bureau of the Budget and
Securities Exchange Commission,
request for Board's assistance
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/17
2323, 2335
6/17
6/19
1933
1975, 1982
8/22
2848, 2878
4/15
1220-26
4/26
1344
1963
930
Pages
Securities Exchange Act of 1934: (continued)
Extension of: (continued)
Draft bill providing certain provisions: (continued)
Consensus that responsibility for administration should rest with the
Securities and Exchange Commission, views to be reported to
the Budget Bureau, Messrs. Hexter
and Dembitz to attend a meeting
of technically qualified representatives of interested agencies,
arranged by the Bureau of the
4/30
Budget to discuss
Letter to Bureau of the Budget reporting on, approved, Office of the
Comptroller of the Currency opposed to, FDIC undecided, but
felt in case of enactment that
the Corporation would not be an
appropriate agency to administer
the program, views indicated at
the interagency meeting called by
the Budget Bureau, Board prefers
that the Securities Exchange Commission be given responsibility
5/9
for administering
Revised draft bill which would include coverage of bank stocks and give initial
administrative responsibility thereof to SEC, but transfer that responsibility to the three Federal
bank supervisory agencies, at their
request, to be introduced to Con6/4
gress, noted
to
provide for:
S. 1642, a bill
Views expressed with further discussion
re question of administrative
responsibility, understood that
a draft report to the Chairman
of the Senate Banking and Currency Committee, following the Board's
previous position, would be pre6/12
pared for Board consideration
re
insider
Views of Chairman Martin
6/12
trading expressed
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1402
1512, 1525-26
1822
1903
1907
1963
931
Pages
Securities Exchange Act of 1934: (continued)
Extension of: (continued)
S. 1642, a bill to provide for: (continued)
Discussion re report on, in light of
Chairman Martin's anticipated
testimony before Senate Banking
and Currency Committee, agreed
revised draft of report be prepared, comments by Governor Mills
re administration of provisions
re bank stocks
Board in favor of purposes of, but not
in favor of SEC delegating administration over bank stocks to
bank supervisory agencies, report, with memorandum commenting
on certain problems, sent to
Senator Robertson, understanding
re testimony by Chairman Martin,
similar report on companion bill
sent to Chairman Harris, House
Committee on Interstate and
Foreign Commerce
Report to Congressman Harris, Chairman
of the House Committee on Interstate and Foreign Commerce approved with Governor Mills dissenting
S ecurities exchange administration:
Bank stock, proposal to extend the Securities
Exchange Act to cover over-thecounter stocks and
SEE: Securities exchange administration:
Over-the-counter stocks:
Loan value of securities used for deposits required
by Regulation T to meet margin
calls re transactions executed before change in margin requirements,
interpretation for publication in
Federal Register and press release
Loans by member banks collateralized by stocks
and bonds:
Report on survey re, transmitted to Securities
and Exchange Commission, reaffirmation of Board's position re extension of authority under Reg. U
to include loans for purchasing
over-the-counter securities, change
in legislation required
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/17
1933
6/19
1975, 1982
8/22
2848, 2878
11/8
3890,3903-05
3/1
735, 754
1963
932
Pages
Securities exchange administration: (continued)
Loans by member banks collateralized by stocks
and bonds: (continued)
Memorandum by Mr. Dembitz presenting four
approaches for consideration re
broadened statutory authority
subjecting all, to margin regulations, views of Board members
expressed, understood that the
staff would follow Chairman Martin's
suggestion to hear the Securities
and Exchange Commission's staff
rather than initiate proposals
Survey of methods and standards in making,
request from Securities and Exchange Commission for data re,
for publication in report of
Special Study of the Securities
Market, agreed to furnish edited
data for publication as requested
Board's survey re, to be published
of
Results
in chapter of SEC's report on
Special Study of Securities Market, proposed method of publication by SEC approved, letter sent
to SEC
Margin account panel, Chairman Martin noted he
had invited President Funston of
the New York Stock Exchange to
come to Washington and meet with
the Board to discuss the recent
rise in stock market prices,
problem of margin requirements
confronting the Board
Margin requirements:
Possible increase in, due to current rapid
rise in stock market credit, no
action to be taken at the present
time but future developments to
be followed closely
Memorandum from Mr. Partee and Mrs. Ulrey,
Economists, Division of Research
and Statistics, re, responsibility
of Board under Securities Exchange
Act called for review to determine
possible tightening in, understanding discussion would continue at
tomorrow's meeting
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/15
1220-26
6/17
1929, 1943
7/10
2238, 2252
11/4
3761
6/26
2112
11/4
3756
1963
933
Pages
Securities exchange administration: (continued)
Margin requirements: (continued)
Regulations T and U amended, to increase
margin and retention requirements
from 50 to 70 per cent, press release to be issued, notice to
FRBanks, to be published in Federal Register, Governors Robertson
and Mitchell dissenting
Over-the-counter securities:
Extension of Securities Exchange Act of 1934
to include:
Draft bill providing certain provisions
re, including financial reporting,
proxy regulation, and controls on
insider trading, covering bank
stocks and, applicable to banks
with 300 or more stockholders,
being redrafted by the Bureau of
the Budget and Securities and Exchange Commission, request for
Board's assistance
Consensus that responsibility for
administration should rest with
the Securities and Exchange Commission, views to be reported to
the Budget Bureau, Messrs. Hexter
and Dembitz to attend a meeting
of technically qualified representatives of interested agencies,
arranged by the Budget Bureau to
discuss
Letter to Bureau of the Budget reporting on, approved, Office of
the Comptroller of the Currency
opposed to, FDIC undecided, but
felt in case of enactment that
the Corporation would not be an
appropriate agency to administer
the program, views indicated at
the interagency meeting called by
the Budget Bureau, Board prefers
that the Securities Exchange Commission be given responsibility
for administering
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/5
3803
4/26
1344
4/30
1402
5/9
1512, 1525-26
1963
934
Pages
Securities exchange administration: (continued)
Over-the-counter securities: (continued)
Extension of Securities Exchange Act of 1934
to include: (continued)
Revised draft bill which would include
bank stocks and, giving initial
administrative responsibility to
SEC, but transfering that responsibility to the three Federal
bank supervisory agencies, at
their request
S. 1642, a bill to provide for:
Views expressed with further discussion re question of administrative
responsibility, understood that a
draft report to the Chairman of
the Senate Banking and Currency
Committee, following the Board's
previous position, would be prepared for Board consideration
Discussion re report on, in light
of Chairman Martin's anticipated
testimony before the Senate Banking and Currency Committee, agreed
revised draft of report be prepared
Board in favor of purposes of, but
not in favor of SEC delegating
administration to bank supervisory
agencies, report with memorandum
commenting on certain problems,
sent to Senator Robertson, understanding re testimony by Chairman
Martin, similar report on companion bill sent to Chairman Harris,
House Committee on Interstate and
Foreign Commerce
Report to Congressman Harris, Chairman of the House Committee on Interstate and Foreign Commerce, approved with Governor Mills dissenting
Need for legislation re, possibility of introducing jointly with Securities
and Exchange Commission, noted
that Board's staff was preparing
memorandum summarizing SEC recommendations
Further discussion
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/4
1822
6/12
1903
6/17
1933
6/19
1975, 1982
8/22
2848, 2878
11/4
11/5
3767
3803
1963
935
Pages
Securities exchange administration: (continued)
Pacific Coast Stock Exchange, letter to FRBank of
San Francisco re question as to
the length of time that the FRBank,
acting as a committee of, must
maintain records relating to extensions granted under Regulation
T, suggestion by Governor Mills
that the FRBank be asked to explore the possibility of discounting this function and advise the
Board of its views, agreed that
such a paragraph would be added
to the letter
Refunding securities, purchases of, proposed amendment of Regulation T to adapt special cash account provisions to,
publication of the amendment in
the Federal Register as a notice
of proposal rule making, approved
Reorganization or recapitalization, question whether transaction involving an exchange of stock in Progress Manufacturing Company (held as collateral for a margin loan by
Reynolds and Company) for unlisted
shares of Reading Tube Company
involved a violation of section
220.3(b) of Regulation T, or
whether the exchange amounted to,
request from SEC for unpublished
rulings of Board re, furnishing
of requested information, approved
Special cash account provisions, proposed amendment of Regulation T to adapt,
to purchase of refunding securities, publication of the amendment in the Federal Register as
a notice of proposed rule making,
approved
Substitution rule, discussion re change in margin
requirements related to rise in
stock market prices, Governor
Robertson suggested Board also
consider eliminating substitution
rule, Chairman Martin strongly
against eliminating, feeling that
change in, would tend to disrupt
tenor of whole market
discussion
Further
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/26
3342, 3349
7/24
2403
6/10
1858, 1872
7/24
2403
11/4
11/5
3767
3808
1963
936
Pages
Securities exchange administration: (continued)
Unregulated lenders, possible broadening of Regulation U to include, or possibility of separate regulation discussed in connection with proposed
increase in margin requirement,
feeling that too high a margin
requirement would encourage unregulated lender to become active
Securities and Exchange Commission:
Eligibility of notes of Colwell Company, Los
Angeles, California, for discount
by FRBanks, in light of possible
exemption of requirements of section 5, Securities Act of 1933,
reply to inquiry from, approved
Hill Street Company, formerly Union Investment
Company, comments requested by
Securities and Exchange Commission
re prospectus submitted by, an
affiliate of Union Bank, Los
Angeles, California, previous ruling re question of applicability
of sections 32 and 20 of the Banking Act of 1933 reaffirmed,reply
approved
Securities markets, special study conducted by:
Request for data from Board's survey of
banks' methods and standards in
making security loans for publication in report re, agreed to
furnish edited data for publishing
as requested
Chapter on security credit on which Board's
staff cooperated, possible implications of Board's connection with
chapter in report re, proposed
method of publication by SEC approved, letter sent to
Special study by Board re over-the-counter
securities, desirable to try to
implement Securities and Exchange
Commission's special study recommendations by drafting bill that
Board might have introduced jointly with, Board's staff preparing
memorandum summarizing SEC
recommendations
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/4
3763
4/24
1316, 1335
6/12
1899, 1918
6/17
1929, 1943
7/10
2238, 2252
11/4
3768
1963
937
Pages
Securities and Exchange Commission: (continued)
Securities markets, special study conducted by: (continued)
Further discussion of role of credit in
stock market and of indication
in SEC's special study that margin
requirements then in effect had
reduced volume of forced selling
11/5 3805
at time of 1962 market break
Study of situation where officers of investment
companies are not permitted to
serve as directors of member
banks, Governor Balderston suggested studying this type of
11/7 3877, 3881
problem
Study by Securities and Exchange Commission:
Request for data from Board's survey of
banks' methods and standards in
making security loans for publication in report re, agreed to
furnish edited data for publish6/17 1929, 1943
ing as requested
Chapter on security credit, on which Board's
staff cooperated, in report re,
proposed method of publication by,
7/10 2238, 2252
approved
Over-the-counter stocks, desirable to try
to implement SEC's special study
recommendations by having a bill
drafted that the Board might have
introduced jointly with SEC,
Board's staff preparing memoran11/4 3768
dum summarizing SEC recommendations
3805
11/5
Further discussion
Security program:
Security clearances:
FRBank personnel, overexpenditure of $10,500
in Contractual Professional Services
Account of the Office of Defense
Planning budget, to cover the cost
of an unanticipated volume of,
6/17 1936
approved
Self-Employed Individuals Retirement Tax Act of 1962:
Federal savings and loan associations acting as
trustees for trusts qualifying
under, draft bill to permit,
Board not in favor of bill in
present form, report to Budget
776, 805
3/6
Bureau
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
938
Pages
Seminars:
Academic economist:
SEE: Meetings:
Economists, academic
Service charges of member banks:
SEE: Clearing and collection Service charges:
Sherman Act:
Minnesota banks, complaint filed by Justice Department against violations of,
involving the fixing of interest
rates on loans, amounts of rebates, absorbing losses in sale
of Government securities, absorbing exchange charges, and furnishing supplies to correspondent banks
free of charge, agreed that members
of Board's staff meet with the Justice Department to discuss proposed
consent decree re
Silver:
Draft bill, submitted by the Treasury, to repeal
certain legislation relating to
purchase of, authorizing FRBanks
to issue FRnotes of $1 denomination, and terminating special
tax on transfers of interests
in silver bullion, same as S. 2885
except for addition of three new
provisions, copy of Board's previous views, also applicable to
proposed draft, sent to Bureau
of the Budget, reference to issuance of $2 FRnotes
S. 731, a bill to repeal certain legislation relating to purchase of silver,
to authorize FRBanks to issue
FRnotes in $1 denomination and
to terminate the special tax on
transfers of silver bullion, report sent to Senator Robertson,
reference to issuance of FRnotes
in $2 denomination
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/4
3033
1/22
213, 224
2/14
553, 564
1963
939
Pages
Silver: (continued)
H.R. 4413, a bill to repeal silver purchase laws
and provide for replacement of
silver certificates by FRnotes,
draft statement for Chairman
Martin favoring repeal, recommending that bill cover $2 notes and
no objection in principal to repealing tax transfers of silver
bullion, understood statement
would be put in final form satisfactory to the Chairman, with
Governor Mills dissenting from
the position expressed
Reference to possible effect on float, single issue of FRnotes and destruction of FRnotes
H.R. 5389, enrolled bill to repeal certain legislation relating to the purchase
of silver, and for other purposes,
report sent to Budget Bureau
Small business investment companies:
Section 32 of the Banking Act of 1933, question
re eligibility of an individual
serving as president and director
of a small business investment
company, which is a wholly-owned
subsidiary of a member bank, and
to serve at the same time as director of two open-end investment
companies, not applicable to the
prohibitions of
Spain:
Banco Espanol del Desarrollo, Madrid, Spain,
Morgan Guaranty International
Finance Corporation granted permission to purchase shares of,
with the condition that Banco
Espanol would not engage in the
business of receiving or paying
out deposits or accepting drafts
or bills of exchange
Spanish finance company (proposed), consent granted to First National City Overseas
Investment Corporation, New York,
New York, to purchase shares of
a, additional condition stated
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/11
841
3/18
906, 929
5/27
1766, 1778
4/10
1191, 1195
1/14
97, 105
2/5
440, 448
1963
940
Pages
Sprinkel, Beryl W.:
Relative Economic Growth Rates and Fiscal-Monetary
Policies, study made by, Vice President of Harris Trust and Savings
Bank, Chicago, Illinois, Senator
Proxmire requested evaluation of
study, agreed that each Board member could handle response, but
that a draft reply would be prepared for Board consideration
Staff of Board of Governors:
Civil rights demonstration in Washington, August
28, 1963, distribution of notice
from Civil Service Commission
urging all Federal agencies to
be liberal in granting request
for annual leave, Board to grant
annual leave or advance leave to
any employee (exception of those
who could not be spared), requests
for Board leave to be submitted
by August 22
Confidentiality of FRSystem affairs, statement of
Board's rules re, transmitted to
all Board employees and consultants
with copies sent to the President
of the United States
Conflict of interest and ethical standards of
conduct, memorandum re, and copy
of Board's rules re confidentiality of System affairs, personal
financial transactions, and outside business activities, transmitted to all Board employees and
consultants with copies sent to
the President of the United States
Economists:
Exchange with Bank of Spain, with the understanding that each institution
would provide for the expenses of
its own economist, Rodney Mills,
Division of International Finance,
designated to visit the Bank of
Spain for a period of one month
during 1964 under this program
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/25
2443
8/9
2663
3/11
858, 873
3/11
858, 873-77
10/23
3617
1963
941
Pages
Staff of Board of Governors: (continued)
Economists: (continued)
Pool of, in Division of Research and Statistics, possibility of, discussed
in connection with problems re
recruitment of professional
positions
Edge Act corporations:
Articles of association and organization
certificates of, Board's staff
authorized to make changes in
forms for, so as to conform with
the provisions of the adopted revision of Regulation K
Employee training and development program:
Effective Oral Communication, 24-hour course
to be conducted by Professor Edwin
L. Stevens, arrangements confirmed,
with understanding re compensation
Reading improvement:
Course to be conducted by Mr. George L.
Stevens, arrangements confirmed
with understanding re fee
Course to be conducted by Mr. George L.
Stevens, with the understanding
that he provide all equipment,
materials, and references required,
and that the Board would pay $40
for each participant at the completion of the program, approved
Secretarial training program to be conducted
by the Katharine Gibbs Consulting
Service, New York, New York, with
the understanding that required
materials be provided by the Service, Board to pay fee of $400,
plus travel expenses
Employment policy, Board's regulations and procedures relating to nondiscrimination amended to conform with amended Rules and Regulations of the
President's Committee on Equal
Employment Opportunity, copies
distributed to all Board's staff
members
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/28
719
8/22
2873
2/11
534
2/13
544
12/19
4467
4/17
1250
3/6
803, 817
1963
942
Pages
Staff of Board of Governors: (continued)
Honoraria and royalties, policy, annual survey
of Board's staff by Division of
Personnel Administration, understanding that any individual reporting writing activity would
be advised of policy regarding,
Governor Shepardson reviewed information presented and found
nothing to question
Hours of work, report by General Services Administration recommending further staggering of, for employees of the
Federal Government in Washington,
question re need for increase in
lunch period to 45 minutes, Board
willing to comply with other
Government agencies, advice to
Bureau of the Budget
Insurance:
Accident insurance for Board employees:
Recommendation re program (accidental
death, dismemberment and total
permanent disability), on voluntary pay-roll deduction, employeepay-all basis, approved, with
designation of Marsh & McLennan,
Inc., as insurance broker
Designation of Bankers Multiple Life
Insurance Company as the insuring company for the Board's accident insurance program, as
recommended by Marsh and McLennan,
Inc., approved
Leaves of absence:
Presidential death, John F. Kennedy, memorandum from Division of Research and
Statistics recommending that all
employees, other than members of
Board's staff, who were certified
as having been requested to work
on Monday, November 25, 1963, day
on which Board was closed pursuant
to Executive Order 11128, be
awarded compensatory leave for time
worked on that day, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/3
3425
7/8
2205, 2216
4/26
1344, 1362
5/20
1655
12/2
4173
1963
943
Pages
Staff of Board of Governors: (continued)
Outside business and teaching activities:
Board's rules re confidentiality of System
affairs, personal financial transactions, and, accompanied by a
memorandum re conflict of interest and ethical standards of conduct as provided under P.L. 87-849,
transmitted to all Board employees
and consultants with copies sent
to the President of the United
States
Annual survey of Board's staff by Division
of Personnel Administration re,
understanding that any individual
reporting writing activity would
be advised of policy regarding
honoraria and royalties, Governor
Shepardson reviewed information
presented and found nothing to
question
Overseas study program, proposed for member of,
for period from October 1963
through June 1964, not approved
on basis that it did not come within the scope of the Board's policy
relating to foreign study and travel assignments
Personnel actions, Governor Shepardson authorized
to approve on behalf of the Board
all personnel actions relating to
members of the Board's staff
other than official staff
Pre -employment physical examinations, payment of
additional $3 to Board's physician to cover cost of hemogloblin
test, resulting in an increase
from $10 to $13 and an increase
for cafeteria employees from $25
to $28, approved
subcommittees of, list
Conference,
Presidents'
persons
from Board's staff,
of
redesignated to serve as associates on, given to Chairman of
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/11
858,873-77
10/3
3425
8/21
2838
7/23
2385
4/3
1138
3/19
942
1963
944
Pages
Staff of Board of Governors: (continued)
Recruitment practices for filling professional
vacancies, problems and possible
solutions connected with, reference to possible creation of
economists pool for Division of
Research and Statistics from
which to fill specialized vacancies, discussed
Reimbursement of expenses, action allowing payment of moving expenses, transportation, per diem, and family
transportation, in connection with
the appointment of Dale K. Osborne,
Division of Data Processing, does
not infer a relaxation of Board's
policy of not paying such expenses
except in the case of a person
transferring from a FRBank to the
Board
Retirement system:
Credit for three employees for prior service
at FRBank or Branch having continued enrollment in Civil Service Retirement plan, request for
transfer to Board plan on technical basis of "erroneous enrollment"
Division of Personnel Administration
authorized to proceed with necessary arrangement for transfer of
retirement credits of the three
members of Board's staff
Salaries:
Chauffeurs:
Transfer from regular salary schedule
to Metropolitan D. C. Prevailing
Rate (Wage Board) Schedule,
approved
Increase for Assistant Supervisor,
Motor Transport Unit, and three
chauffeurs under Wage Board
Schedule, not subject to adjustment, effective January 5, 1964
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/28
719
5/6
1485
9/25
3319, 3321
10/9
3493
6/28
2137
12/30
4580
1963
945
Pages
Staff of Board of Governors: (continued)
Salaries: (continued)
Employees: (continued)
General pay increase adopted by Board
effective January 5, 1964, provision for, included in the 1964
budget
Provision for second phase of general
pay increase to be effective on
the first day of the first pay
period on or after January 1,
1964, previously approved, was
confirmed
Lithographic positions, new Printing Grade
Pay Schedule and change in salary
rates of present incumbents,
approved
revised wage rate schedule
force,
cal
Mechani
applicable to manual labor (including gardener), semi-skilled,
skilled manual labor, and trade
and craft positions in the mechanical force, salary rates effective
December 8, 1963, approved
Merit increases:
Approved
Approved
Board to forego customary review of
structural increase stemming from
general increase in pay at beginning of 1964
Mitchell, John I., Laborer, change in title
from Operating Engineer's Helper,
with adjustment in salary, approved
Nurses, Substitute, increase in salary rate
per day, approved
Official staff:
Maximum rate of $27,500 established,
views expressed re, Governors
Mills and Robertson dissenting
Individual salaries approved with dissents by Governors Mills and
Robertson reiterated
Provision made in budget for 1964 for
the salary increases approved for
Board's official staff
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/9
4251, 4274
12/9
4262
11/8
3898, 3914
12/9
4263, 4312
1/7
7/1
43
2170
9/26
3345
10/15
3549
6/4
1823
12/2
4171
12/9
4259
12/9
4253, 4274
1963
946
Pages
Staff of Board of Governors: (continued)
Salaries: (continued)
Official staff: (continued)
In taking action with respect to officer
salaries the Board also approved
an increase in the Board's budget
for 1964 in the amount corresponding to the total of the salary
increases involved
Overtime compensation, Board approved existing policies in respect to overtime of Board employees under
regular salary structure and Wage
Board salary structure
Printing Grade Pay Schedule, changes in:
SEE: Staff of Board of Governors:
Salaries:
Lithographic positions
Withholding taxes for employees residing in
Maryland or Virginia, Office of
the Controller authorized to
withhold from salary checks, if
requested in writing
Separation from service:
Perkins, Elsie E., (Anderson), Charwoman,
Division of Administrative Services, termination of employment
effective immediately
Stenographers and typists, payment of travel expenses for stenographers, FR-3
and 4, and typists, FR-2 and 3,
from their homes to Washington,
D.C., with the understanding
that when such expenses are
paid to newly appointed, there
will be no payment for interview
expenses, requirements that applicants have one year post-high
school training or experience to
qualify for typist positions FR-3
and stenographers, FR-4, approved
Travel:
Governor Shepardson vested with authority to
approve on behalf of Board domestic
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/9
4262
8/23
2912, 2917
10/4
3437
7/25
2446
12/4
4212
7/23
2385
1963
947
Pages
Staff of Board of Governors: (continued)
Travel: (continued)
Alaska and Hawaii, understood requests by
members of Board's staff for
authorization to travel to, would
be submitted for approval in same
manner as specified in Board's
travel regulations for domestic
travel requests, to be handled
by Governor Shepardson to whom
authority was delegated for approving domestic travel
Typists and stenographers, payment of travel expenses for typists, FR-2 and 3,
and stenographers, FR-3 and 4,
from their homes to Washington,
D. C, with the understanding that
when such expenses are paid to
newly appointed, there will be
no payment for interview expenses,
also requirements that applicants
have one year post-high school
training or experience to qualify
for typist positions FR-3 and
stenographer, FR-4, approved
Vacancies, professional positions, problems and
possible solutions re, discussed
in review of budget performance
report for 1962
Woman receptionist in the Oval at the entrance
to Board members offices, possibility discussed, slight preference expressed for continuance of
present kind of service, but no
objection to whatever arrangements
might be worked out by Governor
Shepardson
(Individual Divisions of Board)
Board Members' Offices:
Cardon, Robert L., Legislative Counsel,
salary approved
Cotten, Annie I., Secretary, salary
increased
Cox, Florence R.,Secretary, transferred
from Division of Research and
Statistics, salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/9
3495
12/4
4212
2/28
719
5/1
1423
12/9
4260
6/21
2030
7/26
2470
1963
948
Pages
Staff of Board of Governors: (continued)
Board Members' Offices: (continued)
Dippre, Doreen, Secretary, salary increased
Fauver, Clarke L., Assistant to the Board,
salary approved
Johnson, Gordon P., Messenger, application
for retirement, noted
Jordon, Walter, Jr., Messenger, transferred
from Division of Administrative
Services, salary increased
Kelly, Nancy B., Secretary:
Salary increased
Application for retirement, noted
Messick, Athens J., Secretary to Governor
Mitchell, salary increased
Molony, Charles, Assistant to the Board:
Designated to work on the preparation
of an over-all history of the
FRSystem in connection with the
observance of the 50th anniversary, understood that a draft
communication be prepared inviting the FRBanks to supply information to assist Mr. Molony in the
System project
Letter to FRBanks regarding designation of, and requesting information
and material
Redesignation to serve as an associate
on the Presidents' Conference
Subcommittee on Bank and Public
Relations, approved
Designated to work with Mr. Daniels
and the Division of Administrative
Services in the preparation of a
suitable exhibit of one dollar
denomination FRnotes
Salary approved
Morgan, LeRoy T., Staff Assistant, salary
approved
Morris, Ruth E., Secretary, salary increased
Noyes, Guy E., Adviser to the Board:
Effective January 1, 1964, with change
in title from Director of Division of Research and Statistics
Salary approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/7
3451
12/9
4260
10/16
3574
10/30
3717
1/25
7/2
276
2179
3/18
915
3/1
738
3/18
914, 933
3/19
943
11/6
12/9
3828
4260
10/7
7/2
3451
2179
12/2
12/9
4172
4260
1963
949
Pages
Staff of Board of Governors: (continued)
Board Members' Offices: (continued)
Saunders, Dorothy B., Secretary, appointment and salary approved
Young, Ralph A., Adviser to the Board and
Director of Division of International Finance:
Permission granted to make a one-day
stopover in London, England, following a meeting of Working Party
3, to confer with officials of
the British Treasury and the Bank
of England, reimbursement on actual expense basis including official entertainment
Understanding re proposed trip to
England
Acting as host for a dinner and a luncheon at the Cosmos Club, in connection with a meeting of representatives of the Bank of England,
the British Treasury, and the International Monetary Fund, with
representatives of the Board, the
U.S. Treasury, and the FRBank of
New York, costs approved
Reference by Governor Shepardson to
his previous authorization to
approve representation expenses
in connection with Mr. Young's
attendance at meetings of Working
Party 3, Economic Policy Committee of Organization for Economic
Cooperation and Development, in
light of possible necessity to
share expenses with the Treasury
for a dinner in connection with
the meeting February 25-29, 1963
Report by, on recently attended meeting
of Working Party 3, of the Economic Policy Committee of the Organization for Economic Cooperation
and Development, held in Paris,
France, understood that a similar
report would be made at the forthcoming meeting of the FOMC
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/27
4130
1/16
133
1/18
174
2/5
447
2/15
577
3/1
731
1963
950
Pages
Staff of Board of Governors: (continued)
Board Members' Offices: (continued)
Young, Ralph A., Adviser to the Board and
Director of Division of International Finance: (continued)
Proposed nomination for Rockefeller
Public Service Award, noted that
material supporting the nomination had been prepared for transmittal
Attending sessions of the Seventh Meeting of Central Bank Technicians
of the American Continent, held
at Rio de Janeiro, Brazil, travel
and per diem for members of the
Board's staff attending meeting,
authorized, with representation
allowance not to exceed $500
Request that previous authorization to
travel to Paris to attend meeting on April 29-30, 1963, of
Working Party 3, Economic Policy
Committee, OECD, be expanded to
include 2-day stopover in London
to consult with British Bank and
Treasury officials, approved
Travel to Europe during period June 18July 12, to attend certain meetings
of Organization for Economic Cooperation and Development in Paris,
and to meetings with British bank
and Treasury officials in London,
authorized on actual expense
basis, including official entertainment, with understanding
that period between June 22 and
July 9 would be charged to annual
leave
Payment by the Board of the costs of
a dinner given at the Cosmos Club
on May 21, 1963, on the occasion
of the visit of officials of the
Bank of England and the British
Treasury, requested by, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/17
1248
4/19
1262, 1294
5/13
1543
6/4
1823
6/11
1888
1963
951
Pages
Staff of Board of Governors: (continued)
Board Members' Offices: (continued)
Young, Ralph A., Adviser to the Board and
Director of Division of International Finance: (continued)
Amendment to previous authorization to
authorize attendance at meeting
of Working Party 3, of the Economic Policy Committee of the Organization for Economic Cooperation
and Development on July 12-13,
1963, in Paris, to meet with officials of the British Bank and
Treasury in London on July 14-15,
on basis of actual expenses incurred, including official entertainment
Report on meetings of Working Party 3,
of the Economic Policy Committee
of the Organization for Economic
Cooperation and Development, June
19-20 and July 10-11, and visit
at the Bank of England in London
June 21-22
Memorandum from, re Treasury draft bill
to amend International Development
Association Act, to authorize the
United States to participate in
an increase in resources of International Development Association,
Mr. Young's memorandum recommended
that the Budget Bureau be advised
by telephone that the Board would
have no objection to Treasury
draft bill to amend the International Development Association
Act
May attend Seventh Meeting of Technicians of Central Banks of the
American Continent, in October,
in Rio de Janeiro, Brazil, with
Governor Mitchell, understood
matter would be brought back to
Board for further consideration
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/1
2172
7/17
2333
9/16
3161, 3172
9/19
3246
1963
952
Pages
Staff of Board of Governors: (continued)
Board Members' Offices: (continued)
Young, Ralph A., Adviser to the Board and
Director of Division of International Finance: (continued)
Agreed that Mr. Young work with a group
formed by the Administration
charged with studying possibilities for encouraging foreign investments in the United States
Payment authorized to, for dinner at
Cosmos Club on October 3, 1963,
guests to be Governor Mitchell,
Robert L. Sammons, Adviser, Division of International Finance,
and Javier Marquez, Director of
Center for Latin American Monetary Studies
Travel to Paris, France, during period
November 1-7, 1963, to attend
regular meetings of Working Party
3, and Economic Policy Committee
of OECD, and meeting with representatives of Bank of England and
British Treasury, reimbursement
to be made on basis of expenses
incurred during travel, including
an allowance for official entertainment, approved
Authorized to attend meeting of steering committee of Center for Latin
American Monetary Studies, to be
held in Mexico City in January,
1964 and other similar meetings
proposed in the near future, Mr.
Sammons to accompany Mr. Young
Salary approved
Consultants:
Academic economists, report by Governor
Mitchell on discussions with Messrs
Young, Noyes, and Professor Bach
re seminar with, including descrip
tion of format and names of economists that might participate,
understood that provision for the
expense involved would be made
in the budget of the Division of
Research and Statistics
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/19
3248
10/3
3426
10/23
3616
11/27 4125
12/9 4260
11/13
17
1963
953
Pages
Staff of Board of Governors: (continued)
Consultants: (continued)
Audit sampling specialist:
Memorandum by Governor Shepardson recommending that the Division of
Examinations be authorized to
secure consultant services of an,
to assist in determining the
appropriate sample verification
in light of the Board's supervisory responsibilities, approved
unanimously
Services of Mr. Louis Teitlebaum from
Federal Housing Administration,
requested by Board to advise on
the use of audit samplings to
help determine the nature and
extent of sample verification
that would be valid in the light
of the Board's supervisory responsibilities in the examination
of FRBanks, Board pleased to provide reimbursement for expenses,
a fee, or both, either to FHA or
Mr. Teitlebaum, in any manner
appropriate
Bach, George Leland, Professor, visiting
Ford Research Professor of Economics, Stanford University, appointment approved to organize the
consultant group of academic
economists who will be meeting
with the Board, compensation and
necessary expenses to be paid
Buck, George B., Actuary of the Retirement
System:
Authorized to make actuarial computations
suggested by Professor McGill,
prior to his meeting with the
Board to discuss Professor McGill's
report, "Mortality and Interest
Assumptions for the Retirement
System of the FRBanks", Governor
Mitchell dissenting, action served
to authorize overexpenditure in
the 1963 Board budget (up to
$4,500)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/1
11/20
1422
4069, 4088
12/9
4264, 4313
2/27
702
1963
954
Pages
Staff of Board of Governors: (continued)
Consultants: (continued)
Buck, George B., Actuary of the Retirement
System: (continued)
Cost projections on mortality and interest assumptions prepared by, with
Dr. McGill's memorandum, report
to the Board transmitted to Mr.
Irons, Chairman of the Presidents'
Conference, Mr. Harris, Chairman
of the Retirement Committee and
Mr. Deming, Chairman of the Board
of Trustees of the Retirement
System, suggestion re Board meeting with Mr. Buck and Dr. McGill
at the same time
Agreed meeting with Professor McGill,
and, be arranged with Board for
September 24, 1963
Meeting of Mr. Buck and Dr. McGill
with Board, discussed
Burr, Susan S., former Associate Adviser
in the Division of Research and
Statistics, Governor Shepardson
authorized to explore the possibility of securing, to develop
a publication giving a simplified
expanation of the FRSystem
Appointment on temporary contractual
basis, effective to December 31,
1963, at $50 per day, with transportation expenses and per diem
in accordance with Board's travel
regulations, approved, to work in
Division of Research and Statistics
Reappointment on temporary contractual
basis, effective as of January 1,
to December 31, 1964, with compensation at $50 per day for each
day worked for Board, with transportation expenses and per diem
for official travel, approved
Cassedy, Rose C., (formerly Research Assistant)
appointment on temporary contractual basis, effective to Dec. 31,
1963, at $33 per day, approved,
to work in Division of Research
and Statistics, Business Conditions Section
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/27
2121,2126-28
8/21
2836
9/25
3319, 3321
7/17
2332
8/6
2579
12/26
9/23
4551, 4552
3283
1963
955
Pages
Staff of Board of Governors: (continued)
Consultants: (continued)
Feige, Edgar, Assistant Professor, University of Wisconsin:
Appointment in Division of Research and
Statistics, on temporary contractual basis, approved, with understanding re compensation, travel
5/29
expenses, and per diem
Extension of employment for additional
30 business days under terms of
10/28
original appointment, approved
Fox, Karl A., Iowa State University, appoint
ment as consultant, in Division
of Research and Statistics, approved, effective to December
31, 1963, on temporary contractual basis with compensation at
rate of $75 per day for each day
worked, when in travel status,
transportation expenses and
11/13
per diem allowed
of
ity
Univers
Friend, Irwin, Professor,
Pennsylvania, appointment as consultant, Division of Research and
Statistics, approved, effective
to December 31, 1963, on temporary
contractual basis with compensation at rate of $75 per day for
each day worked, when in travel
status, transportation expenses
11/13
and per diem allowed
ity
of
Univers
sor,
Profes
Guthrie, Harold W.,
Kentucky, appointment on temporary
contractual basis, with understanding re compensation, transportation, and per diem and headquarters,
5/23
approved
ry
tempora
on
tment
appoin
Hall, George R.,
contractual basis effective until
December 31, 1963, approved, with
understanding re compensation,
travel, transportation expenses,
3/27
and per diem
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1797
3692
3932
3932
1729
1037
1963
956
Pages
Staff of Board of Governors: (continued)
Consultants: (continued)
Hanna, Frank A., appointment effective to
December 31, 1963, on a temporary
contractual basis at $75 per day
for each day worked, with transportation expenses and per diem
when in travel status, approved,
to work in Division of Research
and Statistics
Kareken, John, Professor, appointment as
Consultant in Division of Research and Statistics on fulltime basis from May 1 to Sept. 1,
1963, and part-time thereafter,
approved, with understanding re
compensation
Katz, Arnold, Assistant Professor, Economics,
Columbia University, appointment
as consultant in the Division of
Research and Statistics, on a
temporary contractual basis approved, compensation at $40 per
day, for each day worked, with
transportation expenses and per
diem allowance when in travel
status
Leonard, Robert F., to review Governor
Robertson's memorandum proposing
changes in procedures for examination of FRBanks, and several staff
and accounting firm memoranda,
with understanding re reimbursement
for services on basis of normal
rates for services of consultants
McGill, Dan M., Professor, Wharton School of
Finance:
Consensus that the Secretary arrange for
a meeting of the Board with, to
discuss his report entitled "Mortality and Interest Assumptions
for the Retirement System of the
FRBanks"
Meeting with Professor McGill scheduled
at 9:30 a.m., January 24, 1963
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/6
2580
4/3
1138
3/11
857
4/5
1150
1/10
84
1/11
90
1963
957
Pages
Staff of Board of Governors: (continued)
Consultants: (continued)
McGill, Dan M., Professor, Wharton School
of Finance: (continued)
Meeting held, comments and discussion,
memorandum placed in files
Extension of contract to cover the
period January thru June 1963,
with compensation at $200 per
day worked, plus necessary expenses, approved, budget overexpenditure with respect to,
authorized
Letter by Mr. Buck re cost projections
on mortality and interest assumptions, with memorandum and report
by, sent to Mr. Irons, Chairman
of the Presidents' Conference,
Mr. Harris, Chairman of the Retirement Committee, and Mr. Deming,
Chairman of the Board of Trustees
of the Retirement System
Agreed that meeting of Board with Mr.
Buck, Actuary of the Retirement
System and, be arranged for
September 24, 1963
Contract for services of, extended
through December 31, 1963, under
same arrangements as were originally provided when appointed on
June 11, 1962
Meeting of, Mr. Buck, Actuary of Retirement System, and, discussed
McKie, James W., appointment on temporary
contractual basis, effective until December 31, 1963, with compensation approved, understanding
re travel, transportation expenses, and per diem
Motheral, Cornelia J.:
Appointment to work for a six-month
period in the Division of Research
and Statistics on a temporary
contractual basis, with compensation at the rate of $28 per day
for each day worked
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/24
236
2/27
704
6/27
2121,2126-28
8/21
2836
9/11
3098
9/25
3319, 3321
3/27
1037
3/1
740
1963
958
Pages
Staff of Board of Governors: (continued)
Consultants: (continued)
Motheral, Cornelia J.: (continued)
Extension of appointment, approved, on
a temporary contractual basis
from September 3, 1963, to Dec.
31, 1963, with an increase in
compensation from $28 per day to
$31 per day
Phillips, Almarin:
Reappointment as consultant in the Division of Research and Statistics,
for 1963 on a temporary contractual basis, approved, with understanding re compensation and
transportation expenses
Reappointment on temporary contractual
basis, effective as of January 1,
to December 31, 1964, with compensation of $75 per day for each
day worked, with understanding re
transportation and per diem
Phillips, Charles F., Jr., appointment on a
temporary contractual basis effective until December 31, 1963,
approved, with understanding re
compensation, travel, transportation expenses, and per diem
Schlesinger, James R., reappointment as
consultant in the Division of Research and Statistics, for 1963
on a temporary contractual basis,
approved, with understanding re
compensation and transportation
expenses
Sterkel, Ronald, Associate Professor of Fine
Arts, University of Illinois,
appointment as consultant, effective to November 30, 1964, on a
temporary contractual basis with
compensation at $50 per day for
each day worked, when in travel
status, transportation expenses
and per diem in accordance with
Board's travel regulations
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/3
3008
1/7
40
12/26
4551, 4552
3/27
1037
1/7
40
12/2
4173
1963
959
Pages
Staff of Board of Governors: (continued)
Consultants: (continued)
Suits, Daniel B., Professor, University of
Michigan, appointment as consultant in Division of Research and
Statistics, approved, effective
to December 31, 1963, on a temporary contractual basis with compensation at $75 per day for each
day worked, when in travel status,
transportation expenses and per
diem allowed
Teitlebaum, Louis, request made by Board to
Federal Housing Administration
for the consultant services of,
to advise on the use of audit
samplings to help determine the
nature and extent of sample verification that would be valid in
the light of the Board's supervisory responsibilities in the
examination of FRBanks, Board to
provide reimbursement for expenses,
a fee, or both, either to FHA or
Mr. Teitlebaum, in any manner
appropriate
Thompson, Lawrence E., Professor, Harvard
Graduate School of Business
Administration, appointment as
consultant in Division of Research
and Statistics on temporary contractual basis, with compensation,
approved, understanding re travel
expenses
Weiss, Gertrude:
Reappointment as consultant in Division
of Research and Statistics, approved, with understanding re
compensation and transportation
expenses
Reappointment approved with increase in
compensation
Reappointment on temporary contractual
basis, effective as of January 1,
to Dec. 31, 1964, with compensation of $65 per day for each day
worked, with understanding re
travel expenses and per diem,
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/13
3932
11/20
4069, 4088
1/25
277
1/7
42
12/4
4212
12/26
4551-4552
1963
960
Pages
Staff of Board of Governors: (continued)
Consultants: (continued)
Wicker, E. R., Professor, Indiana University, Bloomington, Indiana,
memorandum by Mr. Sherman recommending the appointment of, on a
temporary contractual basis with
compensation at $50 a day with
transportation expenses and per
diem in accordance with the Board's
travel regulations, to review and
evaluate the Board's records, approved, authorized to have access
to minutes and other records from
the period of the beginning of the
FRSystem to 1936, overexpenditure
made in the 1963 budget of the
Office of the Secretary due to,
approved
Woodruff, Ralph S., of the Bureau of the
Census, reappointment as consultant in the Division of Research
and Statistics, approved, with
understanding re compensation
and possible travel
Division of Administrative Services:
Cafeteria employees:
Arrangements for annual physical examination by Dr. Frederic D. Chapman
confirmed with understanding re
fee
Arrangements for Dr. Frederic D. Chapman
to conduct annual physical examination of all employees in Board's
cafeteria during 1964, at a fee
of $125, approved
Exhibits, preparation of suitable exhibit of
one dollar denomination FRnotes
and examination of specimen currency now on display to be made
by, working with Messrs. Molony
and Daniels
Head, Mail and Messenger Service Unit, abolishment of position simultaneous with
retirement of Charles R. Norris,
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/12
1908, 1909
1/9
74
1/7
42
12/20
4491
11/6
3828
5/29
1796
1963
961
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Head, Mail and Messenger Service Unit: (continued)
Establishment of independent units for
the Mail Service and Messenger
5/29
Forces, approved
Head Messenger and Assistant Head Messenger,
titles of E. C. Langley and Frank
A. Dean, Jr., changed to, respectively, in connection with reorganization of Mail Service and
5/29
Messenger Force Units
in
Mail Clerk, additional to be employed,
connection with reorganization
of Mail Service and Messenger
5/29
Force Units
abolishUnit,
Mail and Messenger Service
ment of position of Head, and
establishment of independent
units for Mail Service and Mes5/29
senger Force, approved
to
Collins,
Senior Mail Clerk, Wesley B.
continue in charge of Mail Service,
in connection with reorganization
of Mail Service and Messenger
5/29
Force Units
(Individual names):
Albers, Dora E., Charwoman, appointment and
8/2
salary approved
of
Division
to
Bain, Albert C., transfer
1/7
Data Processing, approved
and
t
appointmen
Guard,
Baker, Walter J.,
12/12
salary approved
h):
(Mimeograp
Operator
W.,
Barnes, Quincy
1/4
Salary increased
11/5
Salary increased
11/8
Salary increased
resignaClerk,
l
Statistica
E.,
Myra
Beck,
12/19
tion accepted
Becker, William F., Captain, Guard Force,
7/3
salary increased
Bell, J. Frank, Supervisor, Motor Transport
Unit:
6/4
Salary increased
8/16
Salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1796
1796
1796
1796
1796
2560
44
4346
104
3813
3898
4467
2198
1824
2741
1963
962
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Berry, Benjamin D., Foreman-Operator, application for retirement noted
Bishop, Eugene E., Guard, salary increased
Blash, John J., Carpenter-Operating Engineer,
retirement on basis of disability,
approved
Brown, Charles P., Operator (Duplicating
Devices), salary increased
Brown, Ruth Anna, Telegraph Operator, retirement noted
Brown, Ruth A., Charwoman, salary increased
Bryant, Thomas, Cafeteria Laborer:
Permission granted to work part-time
at a gasoline service station
Resignation accepted
Bundy, Herbert W., Bindery Helper and Operator (Mimeograph):
Salary increased and change in title
approved
Salary increased
Cannada, Jo Ann, Clerk-Stenographer:
Re-employment and salary approved following maternity leave
Salary increased
Carnahan, James R., Guard:
Increase in salary approved
Salary increased
Chisolm, John C., Cafeteria Laborer, appointment and salary approved
Clanton, Saul, Grounds Maintenance Worker:
Salary increased
Salary increased
Clark, Susan R., Statistical Clerk, salary
increased
Constable, Frank W., Foreman-Operator, application for retirement noted
Collins, Wesley B.:
Senior Mail Clerk, salary increased
To continue in charge of Mail Service,
in connection with reorganization
of Mail Service and Messenger
Force Units
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/12
7/3
10/16
4040
2198
4475
11/8
3898
2/27
10/7
706
3451
3/1
6/4
740
1824
7/16
11/8
2310
3898
9/16
12/2
4067
4174
6/4
7/3
1823
2198
3/20
973
6/27
12/9
2125
4263
10/8
4364
8/13
2707
4/26
1351
5/29
1796
1963
963
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Collins, Wesley B.: (continued)
Foreman-Operator, transfer from position
of Senior Mail Clerk in, with no
change in basic annual salary
Salary increased
Cooley, Leroy H., Senior Teletype Operator,
change in title from Telegraph
Operator with increase in salary,
approved
Cooley, Mary W., Cafeteria Helper, resignation accepted
Craft, Robert H., transfer to Division of
Data Processing, approved
Craven, Mary J., Charwoman, application
for retirement noted
Mary,
Head Cook, salary increased
Crawford,
Willard
D., Chauffeur:
Creasey,
Salary increased
Salary increased
Salary increased under Wage Board Schedule, not subject to further adjustment, effective January 5,
1964
Cross, Edward, Photographer (Offset):
Salary increased
Salary increased
Davis, George M., Sr., Carpenter-Operating
Engineer:
Appointment and salary approved, (dual
occupancy position status to Nov.
30, 1963, and permanent status
thereafter)
Salary increased
Dean, Frank A., Sr.:
Messenger, salary increased
Assistant Head Messenger, title changed
to, in connection with reorganization of Mail Service and Messenger
Force Units
Salary increased
Devaney, Peter P., General Mechanic-Operating
Engineer, appointment on a temporary basis for period of about
three months, salary approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/5
11/8
3813
3898
4/26
1351
5/22
1699
1/7
44
7/16
5/20
2311
1654
6/28
12/9
2138
4263
12/30
4580
10/21 4495
11/8 3898
10/14 4437
12/9 4263
1/14
104
5/29
7/3
1796
2198
6/17
1936
1963
964
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Dixon, Carol Lee, Clerk-Typist, salary
increased
Dorsey, Mary E., Senor Editorial Assistant,
salary increased
Dortch, Aaron, Operator (Xerox-Mimeograph),
salary increased
Dyson, Nelson S., Photographer (Offset):
Salary increased
Salary increased
Edmonds, Henry L., Window Washer:
Salary increased, increase retroactive
to February 3, 1963 (to correct
an administrative error that resulted in Mr. Edmonds' salary
not having been properly increased
at the time)
Salary increased
Evans, Charles E, Operator, Duplicating
Devices:
Salary increase with change in title
from Mail Clerk, approved
Granted military leave for a two-year
tour of military duty beginning
September 25, 1963
Faber, Philip D., Bindery Helper and Operator
(Mimeograph) resignation accepted
Fegan, James T., Supply Clerk, resignation
accepted
Finck, Edward J., Teletype Operator, appointment and salary approved
Fitzhugh, Donald B., transfer to Division of
Data Processing, approved
Flynn, Thomas W., Guard, appointment and
salary approved
Fox, Johnny Samuel,Jr., Messenger:
Appointment and salary approved
To work part-time as stock clerk at
local department store, approved
Frumin, Walter, Guard:
Appointment and salary approved
Resignation accepted
Gaines, Garland R., Mail Clerk, salary increased with change in title
from Messenger
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/30
12/30
2990
4580
11/8
3898
5/13
11/8
1543
3898
11/26 4099
12/9 4263
7/16
2311
9/12
4040
4/15
1227
8/30
2990
2/14
558
1/7
44
3/19
944
12/4
4212
12/20
4491
2/8
2/15
511
578
7/16
2311
1963
965
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Gardosik, Patricia E., Clerk-Stenographer,
transfer from same position in
Division of Personnel Administration, with no change in basic
annual salary, approved
Graves, Walter W., Cafeteria Laborer:
Appointment and salary approved
Granted permission to work part-time
for a home and auto supply company
Greene, Charles L., Messenger, resignation
accepted
Griffith, Flora J., Chief Telephone Operator,
salary increased
Gums, Virginia F., Charwoman, salary increased
Hart, Bishop, Bindery Worker:
Salary increased
Salary increased
Salary increased
Hart, Wilbert J., Messenger:
Appointment and salary approved
Granted permission to work on part-time
basis for Aldo Cafe
Harvey, Bert:
Cafeteria Laborer, appointment and
salary approved
Messenger, to work part-time for East
Side Cab Company, approved
Higgins, Clarence G., Guard, appointment
and salary approved
Hiller, Louise Lewis, transfer to Division
of Data Processing, approved
Hirz, Lorraine, Secretary, change in title
from Clerk-Stenographer and
increase in salary, approved
Hollis, John S., Messenger (Driver) change
in title from Messenger and
salary approved
J., Jr., Clerk, resignation
Alfred
Holston,
accepted
Hopkins, Glenn B., Painter, salary increased
Hulen, Helen L., Chief, Publications Services
Section:
Salary increased
Salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/2
11/26
4314
4099
12/9
4264
3/20
973
9/26
4/2
4246
1124
4/24 1320
10/23 4516
11/8 3898
7/11
2262
7/19
2362
7/23
2386
8/6
2580
3/7
825
1/7
44
1/11
91
6/24
2044
2/20
12/9
652
4263
44
1/7
11/20 4079
1963
966
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Jay, William H., Messenger, appointment and
salary approved
Jenkins, Margaret E., Cafeteria Helper,
salary increased
Johnson, Claiborne, Operator (Offset Press),
salary increased
Johnson, Clifton N., Messenger, appointment
and salary approved
Jones, James T., Messenger:
Granted permission to work part-time in
managing American Gas Stations
Salary increased
To work part-time as porter and chauffeur for local drug store, approved
Jones, Theodore L.:
Messenger, salary increased
Mail Clerk-Messenger, salary increased,
with change in title from Messenger
Operator (Mimeograph), salary increased,
with change in title from Mail
Clerk-Messenger
Salary increased
Jordan, James R., Operator (Duplicating
Devices), salary increased
Jordan, Walter, Jr., Messenger:
Salary increased
Transferred to Board Members' Offices,
salary increased
Joyner, Lee W.:
Messenger, salary increased
Mail Clerk-Messenger, salary increased,
with change in title from Messenger
Kay, Barbara B., Operator (Key Punch), transfer to Division of Data Processing,
effective January 1, 1963, Miss
Kay then transferred to position
of Statistical Clerk, with increase in salary in Division of
Research and Statistics, effective
January 6, 1963
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/19
944
8/2
2561
11/8
3898
3/22
992
6/19
7/18
1977
2344
12/20
4492
7/1
2172
9/12
3140
11/5
11/8
3813
3898
11/8
3898
7/1
2172
10/30
4617
8/16
2741
11/7
3879
1/7
41, 45
1963
967
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Kelleher, Joseph E., Director:
Redesignation to serve as an associate
on the Presidents' Conference
Subcommittee on Cash, Leased Wire
and Sundry Operations, approved
Designation of, as point of contact between Board and National Communications System, letter to all
FRBanks
Salary approved
Kern, Harry E., Assistant Director, salary
approved
Kinder, Marie E., Charwoman, salary increased
Kopfman, Thomas V., Assistant Supervisor,
salary increased
Lakatos, Margie W., Mailing List Clerk,
appointment and salary approved
Langley, Esmond C.:
Senior Messenger, salary increased
Head Messenger, title change to, in
connection with reorganization
of Mail Service and Messenger
Force Units
Salary increased
Lasko, Helen M., Cafeteria Helper, from a
part-time basis ($1.77 an hour)
to a full-time basis, approved
Leavitt, Richard C., Teletype Operator,
appointment and salary approved
Lembo, Marla, Clerk-Stenographer, transfer
from position of Stenographer in
Division of Examinations, with no
change in basic annual salary,
approved
LeVasseur, Arthur F., Clerk, appointment
and salary approved
Lindamood, Charles D., Principal Operating
Engineer, application for retirement noted
Lowden, James H., Cafeteria Laborer, salary
increased
Luna, Lloyd C., Guard:
Salary increased
Salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/19
943
10/4
12/9
4337, 4341
4261
12/9
11/8
4261
3898
11/8
3898
1/30
297
4/26
1351
5/29
7/3
1796
2198
8/16
2741
10/25
4576
10/3
4326
5/3
1449
4/5
1151
10/23
1/7
7/3
4516
44
2198
1963
968
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
MacVean, Grace L., Reservations Clerk, salary
increased
Maddox, P. D., General Mechanic-Operating
Engineer:
Salary increased
Salary increased
Mayhew, Morris, Gardener, salary increased
McDonald, John H., Guard:
Appointment and salary approved
Salary increased
McDonald, William R., Building Maintenance
Clerk, advance of sick leave
approved
McDowell, Mary M., Editorial Assistant,
transfer from position of Statistical Assistant, Division of
International Finance, with no
change in salary, approved
Meadows, Phyllis G., Mailing List Clerk and
Flexowriter Operator, salary
increased
Mitchell, John I.:
Operating Engineer's Helper, appointment on temporary basis for period of about 3 months and salary
approved
Laborer, change in title from Operating
Engineer's Helper, with adjustment
in salary approved
Moffett, Bruce L., Operator (Offset Press),
salary increased
Murphy, Mary F., Mailing List Clerk, approval re application for retirement
noted
Myers, Arthur S., Electrician-Operating
Engineer, salary increased
K., Cafeteria Helper, salary
Mary
Nantell,
increased
Newton, James H., Lead Messenger, salary
increased with change in title
from Messenger
Nichols, Charles R., Guard, retirement
noted
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/29
1074
8/27
12/9
12/9
2934
4263
4263
6/17
7/3
1936
2198
2/27
705
7/16
2310
6/27
2125
7/10
2243
10/15
4449
11/8
3898
2/1
411
12/9
4263
11/20
4079
9/12
4040
5/17
1636
1963
969
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Noell, Charles A., Guard:
Salary increased
Application for retirement noted
Norman, Florence A., Relief Cook, salary
increased
Norris, Charles R., Head, Mail and Messenger
Service Unit, retirement noted
O'Dell, Opal Irene, Charwoman, appointment
and salary approved
Painter, Roger M., Chauffeur:
Appointment and salary approved
Salary approved
Salary increased
Salary increased
Peacock, Blanche E., Charwoman, salary increased
Perkins, Elsie E., (Anderson), Charwoman,
termination of employment effective immediately
Poling, Carlton C., Chauffeur:
Salary increased
Salary increased
Salary increased under Wage Board Schedule, not subject to further adjustment, effective January 5,
1963
Pope, John M., Guard, salary increased
Portnoy, Albert A., Supervisor-Inspector,
salary increased
Rabbitt, Bruce L., Painter, salary increased
Reeder, Ray M., transfer to Division of Data
Processing, approved
Robinson, Fred L., Messenger:
Appointment and salary approved
Resignation accepted
Rose, Abraham, Mail Clerk, salary increased
Roush, Hiram J., Guard, salary increased
Sanders, Mary E., General Assistant, salary
increased
Scullin, Charles R., Guard, appointment and
salary approved
Showalter, Park O., Electrician-Operating
Engineer:
Appointment and salary approved
Appointment on permanent basis with no
change in basic annual salary,
approved
Salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/3
2198
11/15 4007
1/14
104
5/17
1636
8/12
2686
3/20
6/28
9/26
12/9
973
2138
4246
4263
6/27
2125
7/25
2446
6/28
12/9
2138
4263
12/30 4580
2198
7/3
4/26
12/9
1350
4263
1/7
45
9/12 4040
11/13 3933
11/5 3813
2198
7/3
7/1
2172
1/14
104
6/17
1935
12/2
12/9
4173
4263
1963
970
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Simmons, Allen E., Messenger:
Appointment and salary approved
To work as a messenger for Western
Union on weekends, permission
granted
Simmons, Aubrey L., Sergeant, Guard Force,
salary increased
Sine, Raymond R., Guard:
Appointment and salary approved
Salary increased
Steele, Wilhelmina K., transfer to Division
of Data Processing, approved
Steger, Karl J., Steamfitter-Operating
Engineer, salary increased
Stephens, Wilbert L., Supply Clerk, change
in title from Laborer, with increase in salary, approved
Steward, James T., Senior Mail Clerk, salary
increased, with change in title
from Mail Clerk
Stratton, Joseph C., Jr., Messenger, appointment and salary approved
Stryker, William B., Jr., Photographer (Offset):
Appointment and salary approved
Salary increased
Sullivan, David, Guard, salary increased
Surguy, J. Robert, Clerk (Composition),
salary increased
Szillat, Lyla E., transfer to Division of
Data Processing, approved
Taylor, Franklin, Supervisor, salary
increased
Taylor, William N., Messenger, resignation
accepted
Tedrow, Paul L., Operating Engineer:
Salary increased
Salary increased
Thomasson, Bernard A., transfer to Division
of Data Processing, approved
Thompson, Abner, Multilith Operator:
Request to work part-time as an offset
press operator for Darcel Graphic
Arts, Inc., approved
Salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/10
1533
5/24
1756
7/3
2198
5/3
11/6
1449
3828
1/7
45
12/9
4263
10/14
4437
11/5
3813
3/19
944
11/4
11/8
7/3
3769
3898
2198
11/8
3898
1/7
45
11/8
3898
2/14
558
9/16
12/9
4067
4263
1/7
45
4/17
11/8
1250
3898
1963
971
Pages
Staff of Board of Governors: (continued)
Division of Administrative Services: (continued)
Tobler, Herman Lee, Sergeant, Guard Force,
salary increased
Turner, James R., Offset Press Operator
(Multilith):
Permission granted to work part-time
as an offset press operator for
a local printing firm
Salary increased
Salary increased
VanHook, Sam M., Guard, resignation accepted
Venable, Geraldine, Clerk-Cashier, Cafeteria,
salary increased
Ward, Charles H., Laborer, salary increased
Weems, Hubert G., Guard, salary increased
White, Isaac, Messenger, appointment and
salary approved
White, Lloyd F., Chauffeur:
Salary increased
Salary increased
Salary increased
Salary increased under Wage Board
Schedule, not subject to further
adjustment, effective Jan. 5, 1964
Whitty, Thomas A., Guard, appointment and
salary approved
Willis, Frances, Charwoman, salary increased
Wilson, Joan B., Editorial Assistant, resignation accepted
Windsor, R. A., Assistant Supervisor, Motor
Transport Unit:
Salary increased
Salary increased
Salary increased under Wage Board Schedule, not subject to further adjustment, effective January 5, 1964
Worthy, Walter L., Messenger, appointment
and salary approved
Wrenn, Charles M., transfer to Division of
Data Processing, approved
Young, Herbert W., Building Superintendent,
salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/3
2198
3/7
7/19
11/8
6/7
825
2361
3898
1842
1/7
7/1
7/3
44
2172
2198
4/5
1151
1/14
6/28
12/9
104
2138
4263
12/30
8/2
1/7
11/20
6/28
12/9
4580
2560
44
4079
2138
4263
12/30
4580
11/14
3956
1/7
12/18
45
4427
1963
972
Pages
Staff of Board of Governors: (continued)
Division of Bank Operations:
Baird, John P. B., Analyst:
Designated as principle witness in connection with mutilation of signature plates of FRBank officers
Salary increased
Bennett, Helen, Secretary, salary increased
Bierly, Lula B., Statistical Clerk, appointment and salary approved
Black, Helen K., Statistical Clerk, salary
increased
Bubb, Doris V., Analyst, change in title
from Statistical Assistant and
increase approved
Cava, Karen Ditta, Secretary, change in title
from Clerk-Stenographer with increase in salary approved
Clark, Susan R., Statistical Clerk:
Permission granted to do part-time
statistical work for the Washington Calculating and Inventory
Service
Salary increased
Collier, Raymond J., Chief, Current Series
Section, salary increased
Condon, Daisy L., Secretary:
Salary increased
Transfer to the position of Secretary
in the Division of Data Processing,
with no change in salary, approved
Conkling, Gerald M., Assistant Director,
salary approved
Daniels, M. B., Assistant Director:
Designated to act as Board's representative on Fire Insurance Committee in connection with matters
coming under the Agreement of
Federal Reserve Banks covering
Fire and other Risks, advice to
Chairman of Presidents' Conference
Redesignation to serve as an associate
on the Presidents' Conference
Subcommittee on Accounting, the
Insurance Committee of the FRBanks,
and the Fire Insurance Committee,
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/20
8/2
3/18
2005
2560
914
2/26
684
11/8
3897
8/16
2741
6/19
1977
6/11
9/16
1888
3167
9/26
3346
1/7
40
5/6
1485
12/9
4261
1/18
174
3/19
943
1963
973
Pages
Staff of Board of Governors: (continued)
Division of Bank Operations: (continued)
Daniels, M. B., Assistant Director: (continued)
Designated to work with Mr. Molony and
the Division of Administrative
Services in the preparation of a
suitable exhibit of one dollar
denomination FRnotes, understood
that an examination would also
be made by them to determine the
condition of the specimen currency now on display
Salary approved
Ditta, Karen, Clerk-Stenographer, transfer
from position of Stenographer,
Division of Examinations, with
no change in salary, approved
Farrell, John R., Director:
Redesignation to serve as an associate
on the Presidents' Conference
Subcommittees on Collections
and Electronics, approved
Understood that Governor Mills and,
would discuss with President
Fulton of the Cleveland Bank,
the proposed Cincinnati Branch
building program
Comments re possible changes in examination procedures of FRBanks
proposed by Governor Robertson,
reference to need for clear distinction between responsibilities
of Division of Bank Operations
and Division of Examinations
Travel to West Point, New York, to
study possibility of storing
gold to supplement vault facilities for gold storage at the
FRBank of New York
Salary approved
Franzoni, John C., Technical Assistant,
salary approved
Gifford, Mary Frances, Statistical Clerk,
salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/6
12/9
3828
4261
1/7
41
3/19
943
3/19
939
3/20
971
7/10
12/9
2241
4261
1/7
43
12/30
4580
1963
974
Pages
Staff of Board of Governors: (continued)
Division of Bank Operations: (continued)
Golodner, Judith M., Secretary, granted
extension of maternity leave,
with understanding she would be
re-employed following such leave
and that she be transferred to
the position of Secretary, Division of Personnel Administration,
with adjustment in her annual
salary
Golodner, Seymour, Technical Assistant,
resignation accepted
Innocenti, Janet E., Statistical Clerk,
salary increased
Jackson, Kathryn A., Statistical Assistant,
salary increased
Johnson, Mary Theresa, Clerk-Stenographer,
transfer to Division of Research
and Statistics, with title of
Secretary, approved, with increase in salary
Jones, Carol Lee, Secretary, transfer from
Secretary's Office, with same
title, approved, salary increased
Jonesberg, Myron B., Jr., Analyst:
Transfer from the position of Research
Assistant in the Division of
Research and Statistics, approved
Salary increased
Jordan, Rosemary V., Clerk-Stenographer,
transfer to position of Special
Assistant Federal Reserve Examiner
in the Division of Examinations,
with no change in basic annual
salary, approved
Kiley, John N., Jr., Assistant Director:
Redesignation to serve as an associate
on the Presidents' Conference
Subcommittees on Fiscal Agency
Operations, Cash, Leased Wire
and Sundry Operations, and Methods and Automation, approved
Salary approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/4
1825
8/29
2965
7/12
2278
11/20
4079
9/27
3376
9/27
3375
5/20 1654
12/30 4580
9/16
3168
3/19
12/9
943
4261
1963
975
Pages
Staff of Board of Governors: (continued)
Division of Bank Operations: (continued)
Langham, Lee W., transfer to Division of
Data Processing, approved
Leonard, Patricia A., Statistical Clerk,
resignation accepted
Lucas, Daniel Edward, Analyst, appointment
and salary approved
Malinchock, Mary, Statistical Clerk, transfer to Division of Examinations
with increase in salary approved
Marconi, Judy Ann, Secretary, resignation
accepted
Massey, E. Ralph, Chief, Reserve Bank Operations Section, salary increased
McIntosh, James A., Technical Assistant:
Nomination for a Career Education Award,
administered by the National
Institute of Public Affairs, approved with the understanding
that if accepted he would be
absent from his work for one
academic year on a full-pay
status
Salary increased
Salary increased
Recipient of Career Education Award
from National Institute of Public
Affairs, granted leave for academic year of study at Stanford
University, Palo Alto, California,
with pay, travel costs for self
and family, plus necessary per
diem, Board to pay cost re move
direct to carrier and storage
company, expenses in connection
with visit to FRBank of San Francisco, revised list of expenses
may be submitted, not to be considered precedent for future
award winners
McKee,D. Lewis, Technical Assistant, salary
increased
Murray, JoAnn, transfer to Division of Data
Processing, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/7
44
3/18
916
6/7
1842
1/7
42
9/11
3099
9/26
3346
3/22
5/20
7/18
992
1654
2344
8/22
2874
6/4
1824
1/7
44
1963
976
Pages
Staff of Board of Governors: (continued)
Division of Bank Operations: (continued)
Nobilio, Concetta M., Clerk-Typist, transfer
from Division of Personnel Administration with no change in salary,
approved
Nowak, Evert F., Analyst, resignation accepted
Noyes, Edna Kiatta, Statistical Clerk:
Granted extension of leave without
pay pending action on application for disability retirement
Disability retirement approved by the
Retirement System of the Federal
Reserve Banks, noted
Omohundro, Eleanor E., Analyst, salary
increased
O'Rourke, Roberta M., Secretary, transfer
from Division of International
Finance, and increase in salary,
approved
Randour, Pearle E., Supervisor, Reserve-Member Banks Statement Unit, salary
increased
Ring, P. D., Technical Assistant, salary
increased
Roberts, Mary Louise, Statistical Assistant,
salary increased
Schuster, Jacqueline, Statistical Clerk,
salary increased
Smith, John D., Technical Assistant,
salary increased
Solodow, Robert J., Analyst, appointment
and salary approved
F., Analyst, death in active
Harold
Stone,
service noted
Trott, Sarah L., Secretary, salary increased
A., Jr., Chief, Call
Theodore
Veenstra,
Report Section:
Increase in salary with change in title
from Technical Assistant, approved
Salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/19
2362
3/18
916
1/7
42
1/30
297
10/24
3647
5/14
1568
7/1
2171
1/7
43
8/2
2560
1/7
42
6/4
1824
10/30
3717
5/17
1635
7/1
2171
1/7 40
3/22 993
1963
977
Pages
Staff of Board of Governors: (continued)
Division of Bank Operations: (continued)
Werner, Dorothy:
Designated as alternate witness in connection with mutilation of signature plates used by officers of
Federal Reserve Banks
Analyst, salary increased
White, Edwin G., Technical Assistant:
Salary increased
Salary increased
Wolfe, Sandra Lee, Stenographer, transfer
from Division of Personnel Administration with title of ClerkStenographer to, with an increase
in basic annual salary, approved
Young, Thomas G., Analyst:
Salary increased
Resignation accepted
Division of Data Processing:
Key Punch Operator, establishment of a new
position of, approved, no provision has been made in 1963 budget
Tabulating Machine Operator, establishment
of a new position of, at Grade
FR-4 level, approved
Transfer of certain individuals from their
respective Divisions, approved
(Individual names):
Bain, Albert C., Senior Operator (Tabulating
Equipment):
Transfer from Division of Administrative
Services, approved
Salary increased
Condon, Daisy L., Secretary, transfer from
the position of Secretary in the
Division of Bank Operations with
no change in salary, approved
H., transfer from Division of
Robert
Craft,
Administrative Services ,approved
Fitzhugh, Donald B.:
Transfer from Division of Administrative
Services, approved
Processing Planner, salary increased
Salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/20 2005
12/18 4427
7/1
12/9
2171
4264
10/2
3414
1/7
2/20
43
652
3/18
915
8/6
2580
1/7
44
1/7
4/26
44
1351
5/6
1485
1/7
44
1/7
8/2
8/16
44
2561
2741
1963
978
Pages
Staff of Board of Governors: (continued)
Division of Data Processing: (continued)
Gedanken, Irving, Statistician, transferred
from position of Statistician in
Division of Research and Statistics, with salary increase,
approved
Gray, Marjorie M., Digital Computer Programming Assistant:
Salary increased
Transfer from Division of Research and
Statistics, approved
Salary increased
Hall, Charla Jo, Key Punch Operator:
(Trainee), Appointment and salary
approved
Salary increased, with change in title
from Key Punch Operator (Trainee)
Hiller, Louise Lewis, transfer from Division
of Administrative Services, approved
Kay, Barbara B., Operator (Key Punch), transfer from Division of Administrative
Services, effective January 1,
1963, later transferred to position of Statistical Clerk, Division of Research and Statistics,
effective January 6, 1963, with
an increase in salary, approved
H., Secretary:
Nancy
Keen,
Transfer from Division of Research and
Statistics, approved
Resignation accepted
Langham, Lee W.:
Transfer from Division of Bank Operations, approved
Assistant Director, salary approved
Miller, Frank, Operator, Tabulating Equipment (Trainee), appointment
and salary approved
Miller, James E., Operator, Tabulating
Equipment (Trainee), appointment and salary approved
Murray, JoAnn, transfer from Division of
Bank Operations, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/19
4467
1/7
43
1/7
4/26
45
1351
4/5
1151
9/27
3375
1/7
44
1/7
41, 45
1/7
5/1
44
1424
1/7
12/9
44
4262
8/19
2809
9/27
3375
1/7
44
1963
979
Pages
Staff of Board of Governors: (continued)
Division of Data Processing: (continued)
Osborne, Dale K., Economist:
Appointment and salary approved
Memorandum noting that approval of
appointment included payment
of moving expenses, transportation, and per diem plus transportation for his family to
Washington, D.C., approved, action does not infer a relaxation
of Board's policy of not paying
such expenses except in the case
of a person transferring from a
FRBank to the Board
Pepper, Darrell G.:
Transfer from Division of Research and
Statistics, approved
Chart Machine Operator, salary increased
Racz, Winofred:
Transfer from Division of Research and
Statistics, approved
Chart Machine Operator, salary increased
Reeder, Ray M.:
Transfer from Division of Administrative
Services, approved
Computer Systems Operator (Trainee),
salary increased
Scheirer, William K., Economist in Division
of Research and Statistics, appointment and salary approved (to work
in Division of Data Processing and
to be under immediate supervision
of Director of that Division)
Schwartz, Maurice H.:
Transfer from Division of Research and
Statistics, approved
Director, letter to the Interagency Committee on Automatic Data Processing,
Bureau of the Budget, advising of
the nomination of, as the Board's
representative on the Interagency
Committee, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/28
1055
5/6
1485
1/7
7/18
45
2344
1/7
9/26
44
3346
1/7
45
12/9
4264
9/27
3375
1/7
44
1/16
134
1963
980
Pages
Staff of Board of Governors: (continued)
Division of Data Processing: (continued)
Schwartz, Maurice H., Director: (continued)
Request for permission to serve as a
member of the American Statistical Association Committee of
Data Sources and Electronic
Computers
Letter to Administrator of General Services Administration advising
that Mr. Schwartz has been designated as Board's liaison in
field of electronic data processing,
approved
Salary approved
Smith, Ruth H., Operator, Key Punch, appointment and salary approved
Spellman, Lewis H., transfer from Division
of Research and Statistics,
approved
Stansbury, Davietta H., Research Assistant,
(Data Processing):
Employment continued on a half-time
basis, with certain understanding
Transfer from Division of Research and
Statistics, approved
Salary increased
Steele, Wilhelmina K.:
Transfer from Division of Administrative Services, approved
Operator, Tabulating Equipment, salary
increased
M.:
Robert
Steinberg,
Division of Research and
from
r
Transfe
Statistics, approved
Economist, salary increased
Salary increased
Szillat, Lyla E.:
Transfer from Division of Administrative Services, approved
Key Punch Supervisor, salary increased
Thomasson, Bernard A.:
Transfer from Division of Administrative Services, approved
Operator, Tabulating Equipment, salary
approved
Salary increased
Granted military leave for a two-year
tour of duty
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/26
685
8/13
12/9
2706
4262
1/7
159
1/7
44
1/7
40
1/7
2/28
44
722
1/7
45
5/24
1755
1/7
3/22
5/23
44
993
1730
1/7
7/1
45
2172
1/7
45
6/27
8/2
2125
2561
8/22
2875
1963
981
Pages
Staff of Board of Governors: (continued)
Division of Data Processing: (continued)
Wrenn, Charles M.:
Transfer from Division of Administrative Services, approved
Digital Computer Systems Operator, change
in title from Operator, Tabulating
Equipment, with increase in salary, approved
Zeller, Louis S.:
Transfer from Division of Research and
Statistics, approved
Research Assistant (Data Processing),
salary increased
Digital Computer Programmer, change
in title from Research Assistant
(Data Processing), increase in
salary, approved
Division of Examinations:
Branch banks, request by Governor Balderston
for a report on "stockpiling" of
branch sites by large banks in
California, understood that such
information would be developed by
Memorandum from Division of Examinations
dated September 3, distributed to
Board, showing status of pending
and approved branch applications
filed by large member banks in
California
Consultant services of a specialist in the
field of audit sampling, memorandum by Governor Shepardson recommending that the Division of Examinations be authorized to secure,
to assist in determining appropriate sample verification in
light of the Board's supervisory
responsibilities, approved
Field examining staff:
Coumtents by Mr. Schaeffer re present
staff and procedures for examination of FRBanks, possible change
in procedures proposed by Governor Robertson
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/7
45
3/1
740
1/7
44
1/25
277
5/10
1533
8/8
2598
9/4
3019
5/1
1422
3/20
965
1963
982
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Field examining staff: (continued)
Memorandum from, showing deployment of
Board's field examining staff at
the opening of an examination and
the utilization of manpower, comments made by staff members formerly associated with the field
examining function
Further discussion by Board
Director of Division of Examinations
instructed to initiate, in cooperation with the Personnel Division,
a review of the field force personnel along with a recruiting program,
reported in a memorandum by Governor Shepardson
International banking and financing, suggestion by Governor Robertson to
augment the staff of, that was
concerned with problems of, in
light of the revision of Regulation K, there appeared to be
general agreement
Reports on competitive factors, study to be
made by, re possible improvement
in quality of statistical information provided for reports on competitive factors to Comptroller
of the Currency and FDIC, Governor Robertson's views on, concurred
in by Governor Mills
Virginia Commonwealth group, analysis of the
capital requirements of all banks
in the, and the ability of the
holding company to provide needed
capital, to be made by
(Individual names):
Achor, Robert F., Review Examiner, salary
increased
Benner, Henry, Assistant Director, salary
approved
Bockman, G. Halvor, Assistant Federal Reserve
Examiner, application for retirement noted
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/22
3/25
990
1017
5/1
1422
8/22
2873
7/12
2275
5/20
1647
4/2
1123
12/9
4261
10/14
3538
1963
983
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Browning, Betty Ann, Stenographer, transfer
from position of Clerk-Stenographer
in Division of Personnel Administration, with no change in basic
annual salary, approved
Charuhas, Jane C., Training Technician, salary increased
Courtney, Anna S., Supervisor, Recording and
Stenographic Section, salary increased
DeLawter, Jeannette R., Stenographer, transfer to Division of Research and
Statistics, with title of Secretary, approved, salary increased
Didjunas, Fayette, Stenographer, transfer
from position of Clerk-Stenographer in Division of Personnel
Administration, with no change in
basic annual salary, approved
Ditta, Karen, Stenographer, transfer to
position of Clerk-Stenographer,
Division of Bank Operations, with
no change in salary, approved
A., FRExaminer, appointment
Edward
Dittrich,
and salary approved
Donovan, John P., Review Examiner, salary
increased
Dougal, Wilson D., Senior FRExaminer:
Salary increased
Application for retirement noted
Dougherty, Joseph E., Assistant FRExaminer,
salary increased
Edwards, Evelyn W., Secretary:
Salary increased
Salary increased
Egertson, Jack M.:
Review Examiner, salary increased
Supervisory Review Examiner, salary
increased, with change in
title from Review Examiner
Freidman, Richard B., Assistant FRExaminer:
Salary increased
Resignation accepted
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/27
2934
12/9
4264
1/7
43
9/27
3376
10/3
3426
1/7
41
9/27
3375
6/27
2125
1/14
6/27
104
2125
11/26
4099
1/7
8/2
43
2560
3/22
993
9/27
3375
1/7
4/1
41
1082
1963
984
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Garner, Ted Edward, Assistant FRExaminer:
Salary increased
Resignation accepted
Goodfellow, Allen F., Examiner, FRBank of
San Francisco, arrangements for
assignment to, for approximately
3 months, with understanding re
designation as FRExaminer, and
re salary and travel expenses,
letter to FRBank of San Francisco,
approved
Goodman, Glenn M., Assistant Director:
Attendance at annual meeting of Association for Bank Audit, Control, and
Operation, in Minneapolis, Minn.,
September 15-18, 1963, with understanding that registration fees
and similar expenses would be
paid by the Board, approved,
Messrs. James Smith and Schaeffer
also to attend NABAC meeting
Salary approved
Hagler, Herbert H., Review Examiner, salary
increased
Hammons, Att W., Jr., Assistant FRExaminer,
salary increased
Harris, Alexander J., Jr., Assistant Review
Examiner:
Salary increased
Salary increased
Heasley, Edward W., Assistant FRExaminer,
change in headquarters from Washington, D. C. to San Francisco,
California, approved
Herigstad, Frank P., Assistant FRExaminer:
Appointment and salary approved
Salary increased
Hill, Linda Ann, Stenographer, resignation
accepted
Hochstatter, Robert J., Examiner, FRBank
of Chicago, temporary assignment
to, to be designated as FRExaminer, FRBank of Chicago to absorb
salary and travel expenses
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/20
4/26
652
1350
5/23
1729
9/3
12/9
3008
4261
1/7
42
12/2
4173
1/14
6/7
104
1843
12/27
4560
39
1/7
12/30 4580
12/11
4336
1963
985
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Johnson, Travis J., Senior FRExaminer,
salary increased
Jones, Barbara, Special Assistant FRExaminer:
Salary increased
Resignation accepted
Jordan, Rosemary V., Special Assistant
FRExaminer:
Transfer from position of Clerk-Stenographer in Division of Bank Operations, with no change in basic
annual salary, approved
Salary increased
Joyce, James H., Assistant FRExaminer, salary increased
Kelley, Jerome T., Senior FRExaminer:
Noted today on behalf of the Board a
memorandum from the Division of
Personnel Administration advising
of the death of
Died on November 1, 1963, while on official travel status during the
examination of the Omaha Branch
of the FRBank of Kansas City
Kilroy, Patricia A., Secretary, salary
increased
Kline, Don E., Assistant FRExaminer, appointment and salary approved
Leavitt, Brenton C., Assistant Director:
To participate in Virgin Islands' banking survey, and visit banks in
Puerto Rico following the survey
Transmission of survey report authorized
Salary approved
Lembo, Marla L., Stenographer:
Appointment and salary approved
Transfer to position of Clerk-Stenographer in Division of Bank
Operations, with no change in
basic annual salary, approved
Lyon, John N., Review Examiner, salary
increased
Lyster, Elmer W., FRExaminer, salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/14
104
1/25
9/16
277
3168
9/16
11/8
3168
3897
4/26
1350
11/5
3813
11/20
4069,4080
3/18
916
6/4
1824
6/4
1820, 1833
8/16
12/9
2738, 2740
4261
1/21
200
10/3
3426
4/2
1123
6/21
2030
1963
986
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Mackenzie, Andrew S., Assistant FRExaminer,
retirement on basis of disability, approved
Malinchock, Mary, Statistical Clerk, transfer from Division of Bank Operations with increase in salary,
approved
Masters, Robert C., Associate Director,
salary approved
McClelland, W. J., Assistant to the Director,
salary increased
McClintock, John T., Supervisory Review
Examiner, salary increased
McCuen, William J., Jr., from the FRBank of
Philadelphia, assignment to Board
for approximately 3 months approved, with understanding re
designation as FRExaminer, FRBank
of Philadelphia to absorb salary
and travel expenses
McShane, M. Patricia, Training Assistant,
salary increased
Morris, Mary L., Stenographer, salary increased
G., Assistant Review Examiner:
George
Noory,
Salary increased
"Certificate of Availability of Federal
Employee" for active military
service in the U.S. Air Force,
executed for, with certain understanding
Orre, Douglas L., Assistant FRExaminer, salary increased
Poundstone, John M., Review Examiner:
Salary increased
To participate in Virgin Islands'
Banking survey, and visit banks
in Puerto Rico following the
survey
Transmission of survey report
authorized
Powles, Peggy Jo:
Special Assistant FRExaminer, salary
increased
Stenographer, transferred from position
of Special Assistant FRExaminer,no
change in salary
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/16
3574
1/7
42
12/9
4261
8/30
2990
1/14
104
7/23
2386
4/26
1350
6/27
2125
2/11
534
4/24
1320
6/17
1935
4/2
1123
6/4
1820, 1833
8/16
2738, 2740
1/7
41
12/9
4263
1963
987
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Riley, Jerry B.:
FRExaminer, salary increased
Senior FRExaminer, change in title from
FRExaminer and increase in salary,
approved
W., FRExaminer:
Irwin
Robinson,
Salary increased
Salary increase approved
Ruhle, Arthur J., Assistant FRExaminer,
application for retirement noted
Rumbarger, William E., Review Examiner,
salary increased
St. John, Lyle B., Assistant FRExaminer,
application for retirement noted
Schaeffer, Lloyd M., Chief FRExaminer:
Comments re present field examining
staff and procedures for examination of FRBanks, made during discussion of possible change in
procedures proposed by Governor
Robertson
Attendance at annual meeting of Association for Bank Audit, Control, and
Operation, in Minneapolis, Minn.,
September 15-18, 1963, with understanding that registration fees
and similar expenses would be
paid by Board, approved, Messrs.
Goodman and James C. Smith also
to attend NABAC meeting
Understood steps would be taken to
bring Mr. Schaeffer to Washington
at times during the year to present
comments on examinations of
FRBanks
Salary approved
Slocombe, Carol Ann, Stenographer:
Salary increased
Salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/21
2030
7/18
2344
7/1
10/7
2171
3451
12/10
4317
11/20
4079
12/16
4386
3/20
965
9/3
3008
10/16 3571
12/9 4261
6/27
7/1
2125
2171
1963
988
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Smith, James C., Assistant Director:
Attendance at annual meeting of Association for Bank, Audit, Control,
and Operations, in Minneapolis,
Minnesota, September 15-18, 1963,
with understanding that registration fees and similar expenses
would be paid by Board, approved,
Messrs. Goodman and Schaeffer
also to attend NABAC meeting
Salary approved
Smith, James R., Review Examiner:
Salary increased
Salary increased
Smith, Sarah Jean, Stenographer:
Transfer from position of Clerk-Stenographer, Division of Personnel
Administration, with no change in
salary, approved
Resignation accepted
Solomon, Frederic, Director:
Comments re possible changes in procedures for examination of FRBanks
as proposed by Governor Robertson
Granted permission to deliver a lecture
on bank capital at the August,
1963, session of School of Banking at the University of Wisconsin,
understanding that he would deliver the lecture while on annual
leave and would accept compensation
from the school
Designated to attend interagency meeting
to prepare draft legislation re
bank supervisory and regulatory
matters as suggested in report
to Committee on Financial
Institutions
Instructed to proceed with improvement
and modernization of examination
procedures, and to initiate in
cooperation with the Personnel
Division a review of the field
force personnel along with a recruiting program, reported in a
memorandum by Governor Shepardson
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/3
12/9
3008
4261
5/6
7/1
1484
2171
7/18
8/12
2345
2686
3/20
966
4/12
1212
4/26
1347
5/1
1422
1963
989
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Solomon, Frederic, Director: (continued)
Permission granted to participate in a
panel discussion on bank supervision at the Stonier Graduate
School of Banking at Rutgers
University, Brunswick, New Jersey,
while on annual leave, expenses
to be paid by the school including an honorarium
Travel to West Point, New York, to study
possibility of storing gold to
supplement vault facilities for
gold storage at FRBank of New
York, approved
Permission granted to attend Annual
Convention of National Association of Supervisors of State
Banks in Williamsburg, Va., on
October 1-4, 1963, with understanding registration fees would
be paid by Board
Salary approved
Somlyo, Jeannette, Stenographer, salary
increased
Stanford, Hanvey, Assistant FRExaminer:
Change in official headquarters from
Birmingham, Alabama, to Atlanta,
Georgia, approved
Application for retirement noted
Starr, Donald 0., Assistant FRExaminer:
Salary increased
Resignation accepted
Sundberg, Robert G., Review Examiner:
Salary increased
Salary increased
Thomas, Judith Ann, Special Assistant
FRExaminer, appointment and
salary approved
Thompson, Andrew N., Assistant Director,
salary approved
Thornton, Robert B., Assistant FRExaminer,
resignation accepted
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/11
1887
7/10
2241
8/12
12/9
2686
4261
4/2
1123
6/24 2044
12/10 4317
2/6
8/21
472
2838
1/7
43
12/30 4580
11/26
4098
12/9
4261
9/11
3099
1963
990
Pages
Staff of Board of Governors: (continued)
Division of Examinations: (continued)
Tompros, Ann C., Secretary, salary increased
Treimann, John Albert:
Assistant FRExaminer, salary increased
FRExaminer, change in title from Assistant FRExaminer and increase in
salary, approved
Westmoreland, Robert N., Jr., Assistant
FRExaminer:
Salary increased
Resignation accepted
Zidek, Louis W.:
FRExaminer, salary increased
Senior FRExaminer, change in title
from FRExaminer and increase in
salary, approved
Zimmerman, Carl A., Assistant FRExaminer,
salary increased
Division of International Finance:
Economist (Grade FR-12), establishment of
new position in Europe and British
Commonwealth Section, approved,
appointment of Leonard A. Lupo to
the position, approved
Economist, establishment of new position in
Asia, Africa, and Latin America
Section, approved
Economist, establishment of new position in
Special Studies and Operations
Section, approved
Research Assistant, establishment of new
position in the Special Studies
and Operations Section, approved,
appointment of Holly Humphrey
and salary approved
Senior Economist, establishment of new position in Europe and British Commonwealth Section, approved,
Boris C. Swerling, Senior Economist, in Special Studies and
Operations Section, (position
abolished) to be transferred to
new position
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/1
2171
1/14
104
6/21
2030
3/18
7/16
916
2311
1/7
41
7/18
2344
4/26
1350
3/12
880
4/12
1212
4/12
1212
3/22
992
10/23
3617
1963
991
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
(Individual names):
Alexander, Kathleen, Clerk-Stenographer,
transfer from Division of Personnel Administration, with no change
in salary, approved
Auerbach, Kay J.,Economist, resignation
accepted
Baker, Charles C., Jr., Economist, appointment and salary approved
Berger, Harriet D., Secretary, salary
increased
Brewster, Margaret H., Clerk, salary increased
Brinley, Rita D., Secretary, granted permission to do typing during evenings
for a local architectural firm
Bulow, Katherine M., Clerk-Typist, salary
increased
Carter, Walter Ford, Research Assistant
(Summer), appointment and salary
approved
Chick, Victoria, Research Assistant (Summer)
appointment and salary approved
Crews, Esther G., Supervisor, Information
Center, to work part-time in
local department store, approved
Darlington, Rosemary A., Research Assistant:
Salary increased
Resignation accepted
Doane, Florence S., Clerk:
Salary increased
Resignation accepted
Emery, Robert F., Economist:
Salary increased
Authorized to serve as a U.S. representative to meeting of ECAFE Working Party on Economic Development
and Planning to be held in Bangkok,
Thailand, September 16-23, 1963,
with understanding that his travel
would be at Board expense, trip
to include visits to Japan and
some of the other countries assigned to Mr. Emery in his work
at the Board
Salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/12
2278
2/1
411
1/30
297
5/20
1654
11/20
4079
1/24
242
4/2
1123
5/29
1796
5/3
1449
8/6
2580
8/2
9/11
2560
3099
6/21
7/11
2030
2262
1/7
43
8/9
8/30
2663
2990
1963
992
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Farrington, Pearl G., Statistical Assistant,
salary increased
Fieser, Max E., Economist, resignation
accepted
Furth, J. Herbert, Adviser:
Individual statement re maximum rates
of interest under Regulation Q,
relating particularly to interest rates on Euro-dollar deposits, reviewed
Brief report presented to Board on current U.S. balance of payments by
Salary approved
Gemmill, Robert F., Economist:
Salary increased
Authorized to travel to England, Netherlands, France, Germany, and
Switzerland to visit central and
commercial banks, and investment
bankers, for purpose of making a
study of European capital markets,
also to accompany Mr. Young to
meetings of Working Party 3,
Economic Policy Committee, Organization for Economic Cooperation
and Development
Salary increased
Designated to represent the Board on
the Presidential task force on
foreign investment in U.S.
securities
Goldstein, Henry N., Economist:
Salary increased
Salary increased
Gomez, Michael A., Economist, appointment
and salary approved
To participate in a technical assistance
mission to Brazil sponsored by
the Agency for International Development, on a leave without pay
basis, from August 18 through
September 13, 1963, approved
Granted additional leave
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/17
159
8/30
2990
7/16
2289
7/25
12/9
2445
4261
1/7
43
3/18
10/7
913
3451
10/29
3699
3/22
7/1
993
2171
3/18
914
8/2
8/27
2561
2933
1963
993
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Hersey, Arthur B., Adviser:
Authorized to travel to Paris to attend
meeting on January 22-23, 1963,
of Working Party 3, Economic Policy Committee of Organization
for Economic Cooperation and
Development, in place of Mr.
Young
Attendance at a meeting of balance of
payments experts, in Paris, March
19-21, 1963, under the auspices
of the International Monetary
Fund, also a few days at the
Bank of France, authorized
Attendance at the meeting of the Economic Policy Committee of the Organization for Economic Cooperation
and Development, on July 10 and
11, 1963, and the meeting of Working Party 3, with visits to the
German Federal Bank and the Bank
of Italy, authorized
Designated to give lectures during Feb.,
1964 at next SEANZA Central Banking Course in accordance with a
request from the Governor of State
Bank of Pakistan and to undertake
certain other foreign visits during the trip, reimbursement of
expenses to be reviewed by Messrs.
Ralph Young and Hersey, and
Board's Controller, and worked
out to their mutual satisfaction
Salary approved
Humphrey, Holly, Research Assistant in the
Special Studies and Operations
Section, appointment and salary
in new position approved
Irvine, Reed J., Chief, Latin America, Asia
and Africa Section:
Attending Seventh Meeting of Central
Bank Technicians of the American
Continent, held at Rio de Janeiro,
Brazil, travel and per diem for
members of the Board's staff attending meeting authorized with representation allowance not to exceed
$500
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/18
174
3/7
822
6/7
1841
9/23
12/9
3279, 3293
4261
3/22
992
4/19
1262, 1294
1963
994
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Irvine, Reed J., Chief, Latin America, Asia
and Africa Section: (continued)
Salary increased
Authorized to travel to interior of
Brazil, following meeting of
Technicians of Central Banks of
the American Continent in Rio de
Janeiro, Brazil, understanding
re per diem and reimbursement
for necessary transportation
costs (not to exceed $200)
Junz, Helen B., Economist, salary increased
Katz, Samuel I., Associate Adviser, authorized to attend meeting of Working Party 2, of OECD, Paris,
France, November 4-5, and meeting
at Bank for International Settlements, Basle, Switzerland, recommendation that he stop in London
to study foreign exchange conditions and renew contacts made
during Rockefeller year and stop
in Rome to study the possibility
of setting up a special air mail
letter from the central bank giving us certain statistics,
approved
Salary approved
Kaufman, Richard H., Economist:
Salary increased
Temporary assignment to Agency for International Development to assist
in study in Viet-Nam, approved,
including travel to Singapore,
Malaya, Thailand, India and
Pakistan, with understanding re
travel and per diem expenditures
and salary
Salary increased
Klein, Thomas M., Economist:
Salary increased
Permission granted to teach a graduate
course in business cycles at
George Washington University during spring term
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/16
2740
11/6
12/9
3829
4264
9/19
12/9
3245, 3261
4261
1/7
42
3/27 1033, 1039
12/30 4580
1/7
43
1/9
74
1963
995
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Klein, Thomas M., Economist: (continued)
Permission granted to teach a course in
Money and Banking at Georgetown
University during summer session
Salary increased
Permission granted to teach a graduate
course in Macroeconomic Theory
at George Washington University
during fall semester
Lee, Henry F., Economist, appointment and
salary approved
Logue, Ruth, Economist, salary increased
Lupo, Leonard A., Economist, appointment and
salary approved
Maniatis, George C., Economist, appointment
and salary approved
Maroni, Yves, Senior Economist:
Recommendation to include as a member
of the United States delegation
to the Tenth Session of the
United Nations Economic Commission for Latin America, held in
Mar del Plata, Argentina, approved, with further authorization to spend an additional two
weeks visiting central banks in
Argentina, Chile, Peru, and
Colombia, Board to pay travel
and per diem costs
Salary increased
McDowell, Mary M., Statistical Assistant,
transfer to position of Editorial
Assistant, Division of Administrative Services, with no change in
salary, approved
Mills, Rodney H., Jr., Economist:
Salary increased
Designated to visit Bank of Spain for
period of one month during 1964,
under exchange program with Bank
of Spain specifying that each
institution would exchange economists and provide for their respective expenses
Authorized to extend travel for two
weeks in order to visit the
central banks of France and Italy,
in connection with trip to Spain
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/18
4/2
914
1123
10/2
3415
4/19 1277
10/23 3616
3/12
880
8/30
2989
4/17 1245, 1257
12/30 5480
7/16
2310
4/26
1350
10/23
3617
12/24
4532
1963
996
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Nettles, James K., Economist:
Salary increased
Designated as lecturer in the eleventh
regular training program held in
Mexico City, Mexico, with per diem
allowance
Designated to attend Fiftieth National
Foreign Trade Convention, to be
held in New York City, November
18-20, 1963
O'Rourke, Roberta M., Secretary, transfer
to Division of Bank Operations
with increase in salary, approved
Reynolds, John E., Chief, Special Studies
and Operations Section:
Travel to Paris, France, to attend meeting of Working Party 2, Economic
Policy Committee of the Organization for Economic Cooperation and
Development, authorized
Services to be made available to Budget
Bureau for about one year to
serve as staff director for special committee to review United
States' balance of payments statistics, arrangement approved on
basis of reimbursable detail
Letter to Budget Bureau re terms
of reimbursable detail
Robinson, Bette L., Statistical Assistant,
transfer from the position of
Statistical Clerk in the Division
of Research and Statistics with
increase in salary, approved
Ruckdeschel, Fred B., Economist, appointment
and salary approved
Sammons, Robert L., Adviser:
Granted permission to do certain bibliography work for Pan American Union
without compensation
Designated to serve as technical secretary of the System's delegation
at the meeting of Technicians of
Central Banks of the American
Continent, in Rio de Janeiro,
Brazil, beginning October 14,
1963
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/28
722
4/10
1191, 1192
10/16
3574
5/14
1568
2/7
489
4/12
1211, 1215
5/16
1620, 1629
8/1
2537
4/17
1250
2/20
652
2/27
698, 708
1963
997
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Sammons, Robert L., Adviser: (continued)
Attending Seventh Meeting of Central
Bank Technicians of the American
Continent, held at Rio de Janeiro,
Brazil, travel and per diem for
members of the Board's staff
attending meeting, authorized,
with representation allowance
not to exceed $500
Authorized to travel to Paris, France,
to attend a meeting of Working
Party 2 of the Economic Policy
Committee of the Organization
for Economic Cooperation and
Development, to be held July 1516
Permission to do research on international aspects of a national wealth
inventory for George Washington
University, approved
Authorized to travel to Ottawa, Canada,
for first meeting of senior technicians to examine international
money markets, first meeting to
be held October 10-11, 1963, Mr.
Sammons or substitute also authorized to make additional trips,
upon request submitted prior to
trip to Board member delegated
to approve
Authorized to attend meeting of steering committee of Center for Latin
American Monetary Studies to be
held in Mexico City in January,
1964, and other similar meetings
proposed in near future, to consider Bank for International
Settlements-type institution for
Latin America
Salary approved
Shafer, D. Lee, Secretary, change in title
from Clerk-Stenographer and
salary approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/19
1262, 1294
6/26
2113
7/29
2501
9/27
3363
11/27 4125
12/9 4261
6/24
2044
1963
998
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Sharigan, Nyart S., Secretary, salary increased
Sokolski, Alan, Economist:
Salary increased
Resignation accepted
Stem, Carl Herbert, Economist, appointment
and salary approved
Sullivan, Carol, Secretary, salary increased
Swerling, Boris C., Senior Economist:
Salary increased
Authorized to accept an invitation
from Center for Cultural and
Technical Inter-changes between
East and West, at the University
of Hawaii, Honolulu, Hawaii, to
deliver a paper, with the understanding that expenses would be
paid by the Board on a nonreimbursable basis
Transferred to the Europe and British
Commonwealth Section from the
Special Studies and Operations
Section which was abolished
Taylor, Judy D., Secretary, salary increased
Vermeulen, Ann N., Clerk:
Salary increased
Salary increased
Wood, Ralph C., Associate Adviser, salary
approved
Young, Cynthia Lee, Clerk, appointment and
salary approved
Young, Ralph A., Director and Adviser to the
Board:
Permission granted to make a one-day
stopover in London, England, following a meeting of Working Party
3, to confer with officials of
the British Treasury and the
Bank of England, reimbursement
on actual expense basis including official entertainment
Understanding re proposed trip to
England
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/20
4079
7/18
9/9
2344
3083
9/4
10/7
3036
3451
6/4
1824
10/9
3495
10/23 3617
8/30 2990
2171
7/1
10/23 3616
12/9
4261
7/10
2243
1/16
133
1/18
174
1963
999
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Young, Ralph A., Director and Adviser to the
Board: (continued)
Acting as host for a dinner and a
luncheon at the Cosmos Club, in
connection with a meeting of representatives of the Bank of England, the British Treasury, and
the International Monetary Fund,
with representatives of the
Board, the U.S. Treasury, and
the FRBank of New York, approved
Reference by Governor Shepardson to
his previous authorization to
approve representation expenses
in connection with attendance
at meetings of Working Party 3,
in light of possible necessity
to share expenses with the Treasury for a dinner in connection
with the meeting to be held Feb.
25-29, 1963
Report on recently attended meeting of
Working Party 3 of the Economic
Policy Committee of the Organization for Economic Cooperation and
Development, held in Paris, France,
understood that a similar report
would be made at the forthcoming
meeting of the FOMC
Proposed nomination for Rockefeller
Public Service Award, noted that
material supporting the nomination
had been prepared for transmittal
Attending sessions of the Seventh Meeting of Central Bank Technicians
of the American Continent, held
at Rio de Janeiro, Brazil, travel and per diem for members of
the Board's staff attending meeting authorized, with representation allowance not to exceed $500
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/5
447
2/15
577
3/1
731
4/17
1248
4/19
1262, 1294
1963
1000
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Young, Ralph A., Director and Adviser to
the Board: (continued)
Request that previous authorization to
travel to Paris, to attend meeting on April 29-30, 1963, of
Working Party 3, Economic Policy
Committee, OECD, be expanded to
include 2-day stopover in London
to consult with British Bank and
Treasury officials, approved
Travel to Europe during period June 18July 12, to attend certain meetings of Organization for Economic Cooperation and Development
in Paris, and to meeting with
British Bank and Treasury officials in London, authorized on
actual expenses incurred basis,
including official entertainment,
with understanding that period
between June 22 and July 9 would
be charged to annual leave
Payment by the Board of the costs of a
dinner given at the Cosmos Club
on May 21, 1963, on the occasion
of the visit of officials of the
Bank of England and the British
Treasury, requested by, approved
Amendment to previous authorization to
authorize attendance at meeting
of Working Party 3 of the Economic Policy Committee of the Organization for Economic Cooperation
and Development on July 12-13,
1963, in Paris, to meet with officials of the British Bank and
Treasury in London on July 14-15,
on basis of actual expenses incurred including official entertainment
Report on meetings of Working Party 3
of the Economic Policy Committee
of the Organization for Economic
Cooperation and Development, June
19-20 and July 10-11, and visit
at the Bank of England in London,
June 21-22
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/13
1543
6/4
1823
6/11
1888
7/1
2172
7/17
2333
1963
1001
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Young, Ralph A., Director and Adviser to
the Board: (continued)
May attend Seventh Meeting of Technicians of Central Banks of the
American Continent, in October,
in Rio de Janeiro, Brazil, with
Governor Mitchell, understood
matter of making the trip would
be brought back to the Board for
further discussion
Authorized to work with group formed
by Administration charged with
studying possibilities for encouraging foreign investments
in United States, to select other
members of Board's staff from
time to time to work with committees engaged on this project, Vice
President Coombs of FRBank of New
York to be principal liaison between Bank and group
Payment authorized to, for dinner at
Cosmos Club on October 3, 1963,
guests to be Governor Mitchell,
Robert L. Sammons, Adviser, Division of International Finance,
and Javier Marquez, Director of
Center for Latin American Monetary Studies
Travel to Paris, France, during period
November 1-7, 1963, to attend
regular meetings of Working Party
3 of the Economic Policy Committee
of, OECD, and meeting with representatives of Bank of England and
British Treasury, understood hotel
suite to be reserved for purpose
of latter meeting and that reimbursement would be made on basis
of expenses incurred during travel, including an allowance for
official entertainment, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/19
3246
9/19
3248
10/3
3426
10/23
3616
1963
1002
Pages
Staff of Board of Governors: (continued)
Division of International Finance: (continued)
Young, Ralph A., Director and Adviser to
the Board: (continued)
Authorized to attend meeting of steering committee of Center for Latin
American Monetary Studies to be
held in Mexico City in January,
1964, and other similar meetings
proposed in near future, to consider Bank for International
Settlements-type institution for
Latin America
Division of Personnel Administration:
Alexander, Kathleen, Clerk-Stenographer:
Appointment and salary approved
Transfer to Division of International
Finance, with no change in salary,
approved
Brennan, John C., Personnel Assistant:
Salary increased
Application for retirement noted
Browning, Betty Ann, Clerk-Stenographer:
Appointment and salary approved
Transfer to position of Stenographer
in Division of Examinations,
with no change in basic annual
salary, approved
Carson, Phyllis Ann, Clerk-Stenographer:
Appointment and salary approved
Resignation accepted
Chandler, Lois A., Personnel Clerk, salary
increased
Cole, Catherine Marie, Clerk-Stenographer:
Appointment and salary approved
Transfer to position of Stenographer
in Legal Division, with no change
in basic annual salary
Corrado, Jo Ann C., Clerk-Stenographer:
Appointment and salary approved
Transfer to Division of Research and
Statistics from, with no change
in basic annual salary, approved
Didjunas, Fayette, Clerk-Stenographer:
Appointment and salary approved
Transfer to position of Stenographer,
Division of Examinations, with
no change in basic annual salary,
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/27
4125
5/14
1568
7/12
2278
7/1
11/1
2171
3739
7/18
2344
8/27
2934
5/10
9/23
1533
4183
9/19
3250
5/17
1635
7/29
2500
6/7
1842
8/13
2706
8/21
2839
10/3
3426
1963
1003
Pages
Staff of Board of Governors: (continued)
Division of Personnel Administration: (continued)
Feliciano, Carmen H., Clerk-Stenographer:
Appointment and salary approved
Transfer to the position of Stenographer
in the Legal Division with no
change in salary approved
Gardosik, Patricia Ernestine, Clerk-Stenographer:
Appointment and salary approved
Transfer to Division of Bank Operations
with same title and no change in
basic annual salary, approved
Gheen, Dorothy Ann, Clerk-Stenographer:
Appointment and salary approved
Transfer to the position of ClerkStenographer in the Office of
the Secretary with no change in
salary approved
Golodner, Judith M., Secretary:
Granted extension of maternity leave,
with understanding re reemployment, transfer from position of
Secretary, Division of Bank Operations, to, with adjustment in
salary
Transfer to Secretary's Office, with
no change in basic annual salary,
approved
Hart, John J., Personnel Assistant, salary
increased
Hayes, Sally L., Clerk-Stenographer:
Appointment and salary approved
Salary increased
Hogle, Glenn L., Personnel Technician,
appointment and salary approved
Johnson, Edwin J., Director:
Redesignation to serve as an associate
on the Presidents' Conference
Subcommittee on Personnel,
approved
Comments concerning effects from the
personnel administration standpoint of the adoption of proposals by Governor Robertson re
changes in examining procedure
Salary approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/10
1533
8/8
2626
6/17
1935
10/2
3414
5/10
1533
8/8
2626
6/4
1825
8/2
2560
1/7
43
9/12
10/7
3139
3451
7/3
2198
3/19
943
3/22
12/9
991
4261
1963
1004
Pages
Staff of Board of Governors: (continued)
Division of Personnel Administration: (continued)
Kasey, Maria Ann, Clerk-Stenographer, appointment and salary approved
Kees, Dorothy Erna, Clerk-Stenographer:
Appointment and salary approved
Resignation accepted
Kraft, Barbara A., Clerk-Stenographer:
Permission granted to engage in an outside activity (typing) at her
home after working hours
Resignation accepted
Mason, Christine, Clerk-Stenographer, appointment and salary approved
Monaghan, Mary Ann, Clerk-Typist, appointment and salary approved
Nobilio, Concetta, Clerk-Typist:
Appointment and salary approved
Transfer to Division of Bank Operations,
with no change in salary approved
Raybold, Ann W., Employment Technician,
salary increased
Sampson, Robert G., Personnel Technician,
salary increased
Smith, Sarah Jean, Clerk-Stenographer:
Appointment and salary approved
Transfer to position of Stenographer,
Division of Examinations, with
no change in salary, approved
Sprecher, H. F., Jr., Assistant Director,
salary approved
A., Administrative Assistant,
June
Stetter,
salary increased
Walrath, Gretchen Donna, Clerk-Typist,
appointment and salary approved
Callie, Nurse, salary increased
M.
Wickline,
Lee, Clerk-Stenographer:
Sandra
Wolfe,
Salary increased
Transfer to Division of Bank Operations
with title of Stenographer, with
an increase in basic annual
salary approved
Wolverton, Margaret H., Personnel Assistant,
salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/1
1424
5/15
11/6
1585
3829
2/8
6/17
511
1935
9/12
3140
7/11
2262
5/15
1585
7/19
2362
5/6
1484
8/1
2538
5/14
1568
7/18
2345
12/9
4261
8/16
2741
9/12
8/2
3140
2561
8/30
2990
10/2
3414
8/2
2561
1963
1005
Pages
Staff of Board of Governors: (continued)
Division of Personnel Administration: (continued)
Wood, Charles Wallace, Personnel Assistant:
Salary increased
Salary increased
Woods, Bernadine H., Clerk-Stenographer,
appointment and salary approved
Zambri, Catherine M., Clerk-Stenographer:
Appointment and salary approved
Transfer to position of Clerk-Stenographer in Division of Research
and Statistics, with no change
in basic annual salary, approved
of
Research and Statistics:
Division
Economists:
Pool of, possibility of creating, from
which to fill specialized vacancies following a period of time
for gaining experience, suggested
in light of problems re filling
vacancies for professional positions
Banking Market Unit, memorandum from
Mr. Noyes recommending the establishment of three additional,
approved, arrangement not to preclude recruitment and employment
of personnel to fill vacant positions now provided for in the
budget
Financial data for research purposes, memorandum from Mr. Noyes, Director
of, requesting a contract with
the University of Wisconsin for
an exploratory investigation of
methods of organizing financial
data for research purposes, at
a cost of $25,000 during year
1964, principal investigator for
project would be Edgar L. Feige,
Assistant Professor of Economics
at University of Wisconsin
(Individual names):
Altmann, Murray, Economist, salary increased
Altman, Stuart Harold, Economist, salary
increased
Anagnos, Ketty, Statistical Assistant, salary
increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/18
11/1
2344
3738
6/24
2044
9/12
3140
10/3
3426
2/28
719
4/19
1266
12/2
4160, 4184
11/20
11/8
10/23
4078
3897
3616
1963
1006
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Atkinson, Julian H., Economist, resignation
accepted
Axilrod, Stephen H., Senior Economist:
Salary increased
Permission granted to co-author an
article "Appraisal of Monetary
Policy," which will appear in a
book published as a part of the
Columbia University American
Assembly series
Bauman, Jacquelin, Economist, appointment
and salary approved
Beard, Thomas R., Economist, appointment
and salary approved
Berman, Peter, Summer Research Assistant,
appointment and salary approved
Recommendation to continue until Feb.
15, 1964, at same salary,
approved
Bernard, Loree D.:
Statistical Clerk, salary increased
Statistical Assistant, change in title
from Statistical Clerk with increase in salary approved
Bernard, Normand, Economist, salary increased
Bosworth, Barbara A., Statistical Clerk,
salary increased
B., Draftsman, salary inCynthia
Bowlin,
creased
Bretzfelder, Robert B., Economist:
Salary approved
Resignation accepted
Brill, Daniel H., Adviser:
Travel to Paris with Mr. Young to attend
meeting of Working Party 3, Economic Policy Committee, OECD and
to spend three additional days
in Paris visiting research staff
of Bank of France and French
financial industry executives,
authorized
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/7
42
8/30
2989
10/4
3437
11/8
3897
6/10
1865
5/10
1533
9/24
3306
5/6
1484
7/31
7/1
2518
2171
4/2
1123
5/20
1654
2/28
6/21
722
2031
4/9
1181
1963
1007
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Brill, Daniel H., Adviser: (continued)
Authorized to attend meeting of central
bank economists in Basle, Switzerland, October 12-14, 1963, and to
prepare a paper for advance submission, to also go to OECD meeting in Paris, October 21, and to
the Bank of England, and National
Institute of Economic and Social
Research
Change in title to Director, effective
January 1, 1964
Salary approved
Broida, Arthur L., Chief, Consumer Credit
and Finance Section, appointment
as Assistant Secretary in the
Secretary's Office, and salary
approved
Bryson, Charles W., Economist, salary increased
Burgess, Caroline M., Assistant Chief
Librarian, salary increased
Burr, Susan B., Consultant:
Appointment and compensation on a temporary contractual basis to work in,
until December 31, 1963, approved,
including transportation expenses
and per diem when on official
travel
Reappointment on temporary contractual
basis, effective as of January 1
to December 31, 1964
Bulter, Darlene J., Research Assistant,
resignation accepted
Campbell, Margaret, Secretary, salary increased
Carter, Walter Ford, Research Assistant
(Summer) resignation accepted
Cassedy, Rose C.:
Research Assistant (Data Processing)
resignation accepted
Consultant, appointment on a temporary
contractual basis effective to
December 31, 1963, with compensation at rate of $33 per day, to
work in Business Conditions Section of, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/19
3245, 3260
12/2
12/9
4172
4260
7/23
2384
5/20
1654
6/4
1824
8/6
2579
12/26
4551, 4552
5/22
1699
7/18
2344
8/30
2990
8/16
2741
9/23
3283
1963
1008
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Chambers, Jeanne A., Secretary:
Salary increased
Resignation accepted
Clarke, Ruth H., Editorial Clerk, resignation accepted
Cook, Patricia Kay, Statistical Clerk,
appointment and salary approved
Corrado, Jo Ann C., Clerk-Stenographer, transfer from Division of Personnel
Administration to, approved, with
no change in basic annual salary
Courtright, Suzanne D., Statistical Clerk:
Salary increased
Change in title from Statistical Clerk
with increase in salary approved
Cox, Florence R., Secretary, transferred to
Board Members' Offices and salary increased
DeLawter, Jeannette R., Secretary, transfer
from position of Stenographer in
Division of Examinations approved,
salary increased
de Leeuw, Frank, Economist, salary increased
Dembitz, Lewis N., Associate Adviser:
Request from Agency for International
Development, State Department,
for reimbursable detail of, to
accompany mission to Brazil,
approved
Individual statement re maximum rates
of interest under Regulation Q,
relating to time deposits, in
the event the discount rates
were to be increased, reviewed
Salary approved
Dingle, Mona E., Senior Economist:
Leave without pay for a period of one
year beginning at the end of
September 1963, approved
Salary increased
Dortch, Aaron, Operator (Xerox-Mimeograph),
Division of Administrative Services
granted permission to work parttime as parking attendant
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/7
9/11
489
3099
7/8
2209
12/4
4212
8/13
2706
3/22
993
4/5
1151
7/26
2470
9/27
10/7
3376
3451
7/10
2242
7/16
12/9
2289
4260
8/27
8/30
2933
2989
11/13
3933
1963
1009
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Dunn, Helen M., Statistical Assistant, salary
increased
Edward, Franklin, Economist, appointment
and salary approved
Statistical Clerk, salary
Linda,
Gay
Eiler,
increased
Enzler, Jared J., Research Assistant (Summer)
appointment and salary approved
Resignation accepted
Featherstone, Phyllis J.:
Statistical Clerk, salary increased
Statistical Assistant, change in title
from Statistical Clerk with increase in salary approved
Feige, Edgar, Consultant, Assistant Professor of Economics, Univeristy of
Wisconsin, appointment on temporary contractual basis approved,
with understanding re compensation, travel expenses and per
diem
Extension of employment for additional
30 business days under terms of
original appointment, approved
Fender, Irene Marie, Statistical Clerk:
Appointment and salary approved
Granted permission to work on parttime basis as a telephone
solicitor for newspaper subscriptions to the Washington Evening
Star
Flechsig, Theordore G., Economist, salary
increased
Folsom, Dorothy Isabel, Draftsman-Trainee,
appointment and salary approved
Fortunato, Kathryn Holmes, Library Assistant,
resignation accepted
Fox, Karl A., Iowa State University, Professor, appointment as consultant in,
approved, effective to December
31, 1963, on temporary contractual
basis, with compensation at $75
per day and transportation expenses
and per diem when in travel status
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/26
3346
6/10
1865
10/7
3451
5/3
8/29
1449
2965
3/18
916
8/6
2579
5/29
1797
10/28
3692
4/29
1380
5/16
1620
11/8
3897
9/23
3283
5/29
1796
11/13
3932
1963
1010
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Francis, Jill D., Statistical Clerk, salary
increased
Frase, Eleanor S., Senior Economist, change
in title from Economist and increase in salary approved
Freedman, Bernard N., Economist, salary
increase approved
Friend, Irwin, Professor, University of
Pennsylvania, appointment as consultant in, approved, effective
December 31, 1963, on temporary
contractual basis, with compensation at $75 per day when in travel status, transportation expenses
and per diem
Fry, Edward R., Economist, salary increased
Gajewski, Peter, Economist, salary increased
Garabedian, Levon H., General Assistant,
salary increased
Garfield, Frank R., Adviser, salary approved
Gedanken, Irving Louis, Statistician:
Appointment and salary approved
To teach an evening course in Statistics
at American University
Granted permission to perform work
without compensation for U.S.
Department of Health, Education
and Welfare, reviewing proposed
statistical methods for State
merit system examinations, and
for U.S. Civil Service Commission in rating of Forms 57 for
Statistical Register
Transferred to position of Statistician
in the Division of Data Processing
with salary increased
Goetz, Eleanor Sue, Economist:
Appointment and salary approved
Resignation accepted
Goetzinger, James D., Economist, appointment
and salary approved
Gray, Marjorie M., transfer to Division of
Data Processing, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/7
3451
3/29
1074
10/7
3451
11/13 3932
3/18 916
11/20 4078
8/30
12/9
2989
4260
5/3
1449
5/24
1755
7/16
2311
12/19
4467
5/10 1533
12/10 4316
5/20
1654
1/7
45
1963
1011
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Green, Mary Frances, Statistical Clerk,
appointment and salary approved
Grove, Myron A., Economist:
Salary increased
Resignation accepted
Guthrie, Harold W., Consultant, appointment
on temporary contractual basis,
with understanding re compensation, transportation, and per
diem and re headquarters,
approved
Hall, George R.:
Consultant, appointment on temporary
contractual basis effective until December 31, 1963, approved
with understanding re compensation, travel expenses and per
diem
Economist, appointment and salary
approved
Economist, to serve as instructor for
one week at Maryland -Virginia
Bankers School, while on a leavewithout pay basis, approved
Hanna, Frank A., Consultant (Professor of
Economics, Duke University),
appointment effective to Dec. 31,
1963, on a temporary contractual
basis, with understanding re
compensation, travel expenses
and per diem, approved
Hicks, Norma Jean, Clerk-Stenographer:
Salary increased
Resignation accepted
Hillard, Mary H. B., Statistical Assistant,
granted permission to work parttime at local department store
Holland, Robert C., Adviser:
To accompany Mr. Ralph Young to meeting
of Working Party 3, Economic
Policy Committee of the Organization for Economic Cooperation and
Development, Feb. 25-29, 1963, in
Paris
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/10
1533
1/7
8/29
44
2965
5/23
1729
3/27
1037
6/17
1935
8/6
2579
8/6
2580
6/27
7/11
2124
2262
10/28
2/15
3692
577
1963
1012
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Holland, Robert C., Adviser: (continued)
To accompany Governor Robertson to the
annual meeting of the Bank for
International Settlements in
Basle, Switzerland, and also to
visit several European central
banks, authorization of specific
travel expenses subject to Governor Shepardson's approval
To serve with Guy E. Noyes, Director,
as representatives of the Board
for the interagency staff group
assigned to study various phases
of the call report procedure,
with representatives from the
Office of the Comptroller of the
Currency and FDIC
Designated as Board's regular representative to discount officers' meetings
Associate Director, appointment approved,
effective January 1, 1964, Governor Shepardson to discuss with
Mr. Holland Board's expectations
as to future assignments that
might be given to him
Salary approved
Hollingshead, Marjorie J., Secretary:
Salary increased
Resignation accepted
Howell, James M., Economist, resignation
accepted
Huff, William N., Economist, appointment and
salary approved
Hull, David R., Economist, resignation
accepted
Hurley, Evelyn M., Economist:
Salary increased
Salary increase approved
James, Alton Christine, Statistical Clerk,
appointment and salary approved
Johnson, Mary Theresa, Secretary, transfer
from position of Clerk-Stenographer in Division of Bank Operations, approved, salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/7
821
4/2
1121
9/19
3249
12/2
12/9
4172, 4173
4260
8/16
9/11
2740
3099
8/30
2990
5/10
1533
9/11
3099
1/7
10/7
43
3451
9/5
3052
9/27 .3376
1963
1013
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Jones, Monica F., Statistical Assistant,
salary increased
Jonesberg, Myron B., Jr., Research Assistant.
Appointment and salary approved
Transfer to the position of Analyst in
the Division of Bank Operations
with no change in salary approved
Kareken, John, Consultant, appointment on
full-time basis from May 1 to
September 1, 1963, and part-time
thereafter, approved, with understanding re compensation
Katz, Arnold, Consultant, Assistant Professor of Economics, Columbia Univer
sity, appointed on a temporary
contractual basis approved, with
understanding re compensation,
travel expenses and per diem
Kay, Barbara B., Statistical Clerk:
Transfer from position of Operator (Key
Punch), Division of Data Processing
with increase in salary, approved
Resignation accepted
Keen, Nancy H., transfer to Division of Data
Processing, approved
King, Jean C., Technical Editor, salary
increased
Koch, Albert R., Associate Director, salary
approved
Krummack, Mary Janice, Economist, salary
increased
Kuznets, Paul W., Economist, salary increased
Lambert, Virginia, Secretary, salary
increased
Last, Emily R., Library Assistant, appointment and salary approved
Lindholm, Richard L., Dean, School of Business
Administration, University of
Oregon, appointment to Government
Finance Section staff, from Aug.
1, 1964 through July 31, 1965,
approved with understanding re
salary, Board not to pay any expenses for trip to Europe in April
and May 1965, on leave without
pay basis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/7
44
1/7
42
5/20
1654
4/3
1138
3/11
857
41
1/7
12/23 4500
1/7
44
4/2
1123
12/9
4260
10/23 3616
2560
8/2
10/23
5/29
11/13
3616
1796
3933
1963
1014
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Lockhart, Phyllis H., Statistical Clerk,
adjustment in salary incident
to transfer from position of
Draftsman-Illustrator, approved
Locknane, Judith E., Clerk:
Appointment and salary approved
Resignation accepted
MacLean, Lucile R., Librarian, salary
increased
Mahoney, Bette Silver, Economist, adjustment in salary re appointment,
approved
Mahoney, Claudia Ann, Secretary:
Salary increased
Salary increased
Mann, Bernice T., Secretary, salary increased
Manookian, Edward A., Economist, salary
increased
Massell, Lynn Magnus, Statistical Assistant:
Appointment and salary approved
Resignation accepted
Masterson, Jaclene Therese, Secretary, transfer from Legal Division with
title of Stenographer, salary
increased
McCaslin, Nancy H., Editorial Clerk, transfer from position of Indexing
and Reference Assistant in Office
of the Secretary, with no change
in basic annual salary
McGouldrick, Paul F., Economist, salary
increased
McKie, James W., Consultant, appointment
on temporary contractual basis
effective until December 31, 1963,
approved, with understanding re
compensation, travel expenses and
per diem
McVeigh, Mary Anne, Secretary, salary
increased
Mehall, Mary Elizabeth, Statistical Clerk,
appointment and salary approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/18
2345
5/10
8/8
1533
2626
12/30
4580
9/3
3008
3/18
6/7
1/14
916
1842
104
2/28
722
3/28 1055
12/16 4387
7/26
2471
9/18
3231
3/22
993
3/27
1037
11/20
9/18
4078
3231
1963
1015
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Melanson, Cecil, Draftsman:
Advance of sick leave approved
Application for retirement on disability noted, further advance of
sick leave approved
Melichar, Emanuel 0., Economist:
Appointment and salary approved
Granted permission to teach a course
in modern economics at the
University of Richmond on three
evenings in January 1963
Salary increased
Millea, Gerald F., Chief, Division of Administration, salary increased
Moore, A. Jane, Economist, salary increased
Morelle, Wilellyn, Economist, salary increased
Morisse, Kathryn Ann, Economist, appointment
and salary approved
Morris, Starr Preston, Clerk-Typist:
Salary increased
Salary increased
Resignation accepted
Motheral, Cornelia J.:
Appointment to work for a six-month
period on a temporary contractual
basis, with compensation at the
rate of $28 per day for each day
worked
Extension of appointment approved on a
temporary contractual basis from
Sept. 3, 1963, to Dec. 31, 1963,
with an increase in compensation
from $28 per day to $31 per day
Mullin, Gail E., Economist, salary increased
Niebuhr, Richard John, Summer Research
Assistant:
Appointment and salary approved
Resignation accepted
Noyes, Guy E., Director:
Authorized to attend the meeting of
central bank economists to be
held at the Bank of International
Settlements, Basle, Switzerland,
March 9-11, 1963, with the understanding that another senior staff
member would serve as alternate
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/22
992
5/29
1797
1/7
41
1/15 127
12/30 4580
11/8
6/27
3897
2124
1/7
43
6/19
1977
1/7
8/2
9/11
44
2560
3099
3/1
740
9/3
2/28
3008
722
4/24
9/11
1320
3099
1/31
393
1963
1016
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Noyes, Guy E., Director: (continued)
To serve with Robert C. Holland,
Adviser, as representatives of
the Board for the interagency
staff group assigned to study
various phases of the call report procedure, with representatives from the Office of the
Comptroller of the Currency and
FDIC, report by Mr. Noyes of work
status of interagency group
Head of delegation attending Seventh
Meeting of Central Bank Technicians of the American Continent,
held at Rio de Janeiro, Brazil,
travel and per diem for members
of the Board's staff attending
meeting authorized with representation allowance not to exceed
$500
With change in title, appointment as
Adviser to the Board, Board Members' Offices, effective January
1, 1964, approved
Salary approved
Nystrom, James S., Economist, salary increased
O'Brien, Denise Claire, Statistical Clerk,
appointment and salary approved
Orr, N. Lois, Statistical Clerk, salary
increased
Osborne, Harlow D., Chief, Consumer Credit
and Finances Section, appointment and salary approved
Partee, J. Charles:
Chief, Capital Markets Section, individual statement re maximum rates
of interest under Regulation Q
relating particularly to the implications for the capital markets
of interest rate limitations on
time deposits, reviewed
Adviser, effective Jan. 1, 1964, with
change in title from Chief, Capital Markets Section in
Salary approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/2
1121
4/19
1262, 1294
12/2
12/9
4172
4260
2/15
577
10/2
3414
3/22
993
6/10
1865
7/16
2289
12/2
12/9
4172
4260
1963
1017
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Pawley, Francis R., Economist, application
under Civil Service Retirement
System filed by, noted
Pepper, Darrell G., transfer to Division of
Data Processing, approved
Peret, J. Cortland G., Economist:
Salary increased
Salary increased
Peters, Ann Marie, Statistical Assistant:
Salary increased
Application for retirement on disability noted, advance of sick leave
until retirement date, approved
Peterson, Milo, Economist, salary increased
Phillips, Almarin:
Reappointment as Consultant in, for 1963
on a temporary contractual basis
and compensation approved, with
understanding re transportation
expenses
Reappointment on temporary contractual
basis, effective as of Jan. 1 Dec. 31, 1964, approved, with
understanding re compensation,
transportation expenses and per
diem
Phillips, Charles F., Jr., Consultant:
Appointment on temporary contractual
basis effective until December
31, 1963, approved, with understanding re compensation, travel,
transportation expenses and per
diem
Pickering, Richard C., Economist, salary
increased
Postles, Nell T., Librarian, salary increased
Prager, Stephana, Statistical Clerk, salary
increased
Pratt, Eleanor Jean, Research Assistant, salary increased
transfer to Division of Data
Winofred,
Racz,
Processing, approved
Raddock, Richard D., Summer Research Assistant:
Appointment and salary approved
Resignation accepted
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/18
915
1/7
45
5/6
7/1
1484
2172
1/7
44
1842
6/7
12/16 4387
1/7
12/26
40
4551, 4552
3/27
1037
5/20
6/4
1654
1824
9/23
3283
8/30
2989
1/7
44
5/23
8/30
1729
2990
1963
1018
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Ribble, Watkins Leigh, Jr., Economist,
appointment and salary approved
Roberson, Anne T., Secretary, salary increased
Robinson, Elizabeth L., (Bette) Statistical
Clerk:
Salary increased
Resignation accepted
Board's action accepting resignation
rescinded
Transfer to position of Statistical
Assistant in the Division of International Finance with increase in
salary approved
Robinson, Harvey A., Statistical Assistant,
salary increased
Rose, Elizabeth Carol, Draftsman-Trainee:
Appointment and salary approved
Resignation accepted
Sahm, Grace R., Draftsman Illustrator, application for retirement noted
K., Economist, appointWilliam
Scheirer,
ment and salary approved (Mr.
Scheirer assigned to Division of
Data Processing and to work under
immediate supervision of Director
of that Division)
Schieman, Betty Bert, Statistical Assistant,
resignation accepted
Schiller, Mary C., Draftsman-Trainee, appointment and salary approved
Schlesinger, James R., reappointment as Consultant for 1963 on temporary
contractual basis and compensation approved, with understanding
re transportation expenses
Schoonover, Janice L., Clerk-Stenographer,
resignation accepted
Schwartz, Maurice H., transfer to Division
of Data Processing, approved
B., Chief, Economic EditElizabeth
Sette,
ing, salary increased
Sherman, Ann, Secretary, transfer from the
position of Secretary in the
Office of the Secretary, with
no change in salary approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/23
12/27
3283
4560
1/7
5/3
44
1450
5/27
1775
8/1
2537
1/7
44
7/24 2425
12/16 4387
12/24
4532
9/27
3375
3/18
914
12/20
4491
1/7
40
4/24
1320
1/7
44
8/2
2560
6/27
2125
1963
1019
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Sherman, Shirley R., resignation accepted
Shipp, Royal, Economist, appointment and
salary approved
Sigel, Stanley J., Assistant to the Director,
appointment and salary approved
Sills, Barbara, Statistical Clerk, resignation accepted
Silver, Bette, Economist, appointment and
salary approved
Smith, Tynan, Senior Economist, salary
increased
Snyder, Linda May, Draftsman-Trainee:
Appointment and salary approved
Resignation accepted
Solomon, Robert, Associate Adviser:
Available to the Council of Economic
Advisers to serve as senior
economist for a period of one
year, staff authorized to work
out details on a fully reimbursable basis
Authorized to travel to Paris to attend
a meeting of Working Party 3 of
the Economic Policy Committee of
the Organization for Economic
Cooperation and Development, and
to visit the Bank of France
Salary approved
Spellman, Lewis H., transfer to Division of
Data Processing, approved
Staiger, David S., Economist:
Approval to serve as an unpaid consultant to Deputy Assistant Secretary of Defense for Systems Analysis for next sixty days to assist
in training his replacement at
Department of Defense, such work
to be performed during evening
hours and week-ends
Salary increased
Stanley, Cheryl, Statistical Clerk, resignation accepted
Stansbury, Daviette Hill, transfer to Division of Data Processing, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/4
1824
12/5
4244
12/10
4316
4/5
1151
4/19
1277
6/27
2124
6/27 2124
12/16 4387
6/21
2029
6/26
12/9
2114
4260
1/7
44
2/28
6/21
722
2030
8/27
2933
1/7
44
1963
1020
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Steinberg, Robert M., transfer to Division
of Data Processing, approved
Sterkel, Ronald, Associate Professor of Fine
Arts, University of Illinois,
appointment as Consultant in,
effective to November 30, 1964,
on a temporary contractual basis
with compensation, travel expenses, and per diem, approved
Strader, Natalie C., Survey Statistician
(Economics) salary increased
Suits, Daniel B., Professor, University of
Michigan, appointment as Consultant
in, effective to December 31, 1963,
on a temporary contractual basis
with compensation, travel expenses
and per diem, approved
Sutherland, Alvern H., Chief Librarian:
Salary increased
Nominated by Board for the fourth Federal Woman's Award transmitted to
Chairman of the Board of Trustees,
Federal Woman's Award, c/o Civil
Service Commission
Swindler, Edwin J., Economist, salary increased
Swink, Dorothy E., Statistical Assistant,
salary increased
Taylor, Stephen P., Chief, Flow of Funds and
Savings Section:
Authorized to attend meeting of Working
Group on Statistics of Financial
Assets and Liabilities, Conference
of European Statisticians, in
Geneva, Switzerland, itinerary to
include visits to OECD in Paris,
BIS in Basle, Bundesbank in Frankfurt, and Bank of England in London, also authorized to take annual leave while in Europe
Salary increased
Teeters, Nancy H., Economist, (half-time
basis), salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/7
44
12/2
4173
7/1
2171
11/13
10/7
11/15
3932
3451
4007
11/8
3897
4/2
1123
2/14
8/30
552, 562
2989
12/9
4264
1963
1021
Pages
Staff of Board of Governors: (continued)
)
Division of Research and Statistics: (continued
ntappoi
,
ltant
Consu
E.,
nce
Lawre
Thompson,
ment on temporary contractual
basis with compensation, approved,
understanding re travel
Thoresen, Erling T., Economist, salary
increased
Trescott, Charles G., Library Assistant,
salary increased
Tuttle, Bettie M., Secretary:
Appointment and salary approved
Resignation accepted
Ulrey, Elizabeth Ann Pike, Economist:
Salary increased
Salary increased
Van Peski, Neva Grace, Economist, appointment and salary approved
Walka, Ann R.:
Statistical Assistant, salary increased
Research Assistant, salary increased,
with change in title from Statistical Assistant
Washington, Sidney, Library Assistant,
salary increased
Weaver, Mary F., Statistical Assistant,
salary increased
and
Weil, Roberta, Economist, appointment
salary approved
ude, Consultant:
Gertr
Weiss,
ent with compensation approvointm
Reapp
ed, understanding re transportation expenses
Reappointment approved with increase
in compensation
Reappointment on temporary contractual
basis, effective as of January 1December 31, 1964, with compensation, travel expenses and per diem,
approved
t F., Economist, salary increased
Helmu
l,
Wende
y
Wernick, Murray S., Senior Economist, salar
increased
yn C., Secretary, salary increased
Carol
White,
y
Williams, Kenneth B., Adviser, salar
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/25
277
8/30
2989
1/7
44
1/7
7/11
40
2262
1/7
10/7
43
3451
7/12
2277
2/15
578
9/27
3375
1/7
44
8/2
2560
10/7
3450
1/7
42
12/4
4212
12/26 4551, 4552
10/7 4351
1/7
11/8
43
3897
12/9
4260
1963
1022
Pages
Staff of Board of Governors: (continued)
Division of Research and Statistics: (continued)
Wing, Mary C., Technical Editor, Economics:
Salary increased
Salary increased
Leave without pay approved
Winters, Penny, Statistical Clerk, salary
increased
Wood, John H., Economist, salary increased
Woodruff, Ralph S., of the Bureau of the
Census, reappointment as Consultant to the, approved, with
amount of compensation stated
and understanding re possible
travel
Wyand, Robert R., Economist:
Salary increased
Salary increased
Yager, Charles A., Government Finance Section, salary increased
Zambri, Catherine M., Clerk-Stenographer,
transfer from position of ClerkStenographer in Division of
Personnel Administration, with
no change in basic annual salary,
approved
Zeller, Louis S., transfer to Division of
Data Processing, approved
A., Statistical Assistant,
Judith
Ziobro,
resignation accepted
Legal Division:
Bakke, Karl E., Senior Attorney:
Salary increased
Designated as Board's representative
to Administrative Conference of
the United States, as successor
to Mr. Chase, advice to Executive Secretary of the Conference
Designation as a FRExaminer on a temporary basis in connection with his
participation in a forthcoming
examination of a State member
bank to be conducted by examiners
from the FRBank of Richmond
Salary increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/27
9/11
12/4
2124
3099
4213
11/20 4078
8/30 2989
1/9
74
41
1/7
12/30 4580
8/30
2989
10/3
3426
1/7
44
9/16
3168
1/9
1/18
74
175
1515
5/9
12/30 4580
1963
1023
Pages
Staff of Board of Governors: (continued)
Legal Division: (continued)
Booth, Gertrude E., Secretary:
Salary increased
Salary increased
Carson, Phyllis Ann, Stenographer, appointment and salary approved
Assistant General Counsel,
Howland,
Chase, G.
application for retirement noted
Cole, Catherine M., Stenographer, transfer
from position of Clerk-Stenographer in Division of Personnel
Administration, with no change
in basic annual salary
Crosby, Jean, Secretary, salary increased
Doyle, Walter P., Attorney:
Salary increased
Salary increased
Entriken, Samuel E., Attorney, salary increased
Feliciano, Carmen H., Stenographer, transfer
from the position of Clerk-Stenographer in the Division of Personnel Administration with no change
in salary, approved
Hackley, Howard H., Director:
Redesignation to serve as an associate
on the Presidents' Conference
Subcommittees of Counsel on Collections, the Commercial Code,
and Fiscal Agency Operations,
also on the Subcommittee of Counsel of Insurance Committee, approved
Review of Legal Division memorandum re
possible changes in procedures
for examination of FRBanks proposed by Governor Robertson
Memorandum from Mr. Hackley, recommending Board authorize a Conference
of FRBank Counsel, program to
include a dinner, approved
Salary approved
Harper, Gloria U., Secretary:
Appointment and salary approved
Granted permission to work part-time
for the Washington Academy of
Surgery
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/7
1/14
12/23
43
104
4500
1/9
74
7/29
1/7
2500
43
7/1
10/8
2171
3464
4/26
1350
8/8
2626
3/19
943
3/20
970
7/26
12/9
2470
4260
10/8
3464
11/14
3956
1963
1024
Pages
Staff of Board of Governors: (continued)
Legal Division: (continued)
Harrison, Eugene C., Legal Assistant,
resignation accepted
Hart, Janet, Senior Attorney, salary
increased
Hexter, David B., Assistant General Counsel:
Redesignation to serve as an associate
on the Subcommittee of Counsel on
Emergency Operations, approved
Salary approved
Hill, Rufus S., Jr., Attorney, resignation
accepted
Hooff, Wilson L., Assistant General Counsel,
salary approved
Hricko, Andrew R., Senior Attorney, appointment and salary approved
Malone, Sandra B., Stenographer, resignation accepted
Masterson, Jaclene T., Stenographer:
Salary increased
Transfer to Division of Research and
Statistics, with title of Secretary, salary increased
Mulcahy, Phyllis B., Assistant Legal File
Clerk, appointment and salary
approved
Neitzey, Norma L., Secretary, to do parttime stenographic work for
Alderson Reporting Company,
Washington, D.C.
O'Connell, Thomas J., Assistant General
Counsel:
Granted permission to teach an evening
course in banking law as an
Adjunct Professor of Law at
Georgetown University Law Center
Report to Board on current status of
pending litigation with respect
to certain bank holding company
and bank merger cases
Salary approved
Porter, William Lane, Jr., Law Clerk (Summer):
Appointment and salary approved
Resignation accepted
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/14
558
9/26
3346
3/19
12/9
943
4260
7/11
2262
12/9
4260
3/22
992
7/26
2471
5/20
1654
7/26
2471
2/20
652
6/7
1843
4/24
1320
8/13
12/9
2705
4260
2/15
8/21
577
2839
1963
1025
Pages
Staff of Board of Governors: (continued)
Legal Division: (continued)
Potter, W. Sutton, Senior Attorney, salary
increased
Ryon, Verna P., Secretary, salary increased
Sanders, Robert F., Attorney, appointment
and salary approved
Shay, Jerome W., Assistant General Counsel:
Granted permission to serve as a member
of the Committee on Regulations
appointed by Commissioners of
D. C. under child placement and
adoption laws of the D. C., as
a representative of Family and
Child Services of Washington
Salary approved
Stone, David L., Law Clerk (Summer):
Appointment and salary approved
Resignation accepted
Office of the Comptroller:
Barber, Jean S., Accounting Clerk, salary
increased
Bass, Sampson H., Assistant Controller,
salary approved
Boyd, Eunice M., Secretary, salary increased
Connell, J. J., Controller:
Comments comparing cost of examinations
under current procedures with the
cost that might be involved if
the change in examining procedures
proposed by Governor Robertson is
adopted
Salary approved
Glascock, Jean S., Secretary, resignation
accepted
O'Connor, Kathleen J., Disbursing Clerk:
Advance of sick leave approved for a
period of 26 days
Salary increased
Tweed, Adeline R., Budget and Planning
Assistant:
Salary increased
Salary increased
Waller, L. Waite, Jr., Supervisory Accountant,
salary increased
Wilson, Jane Smith, Payroll Clerk, salary
increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/18
9/26
2344
3346
8/8
2626
4/3
12/9
1138
4260
4/5
8/12
1151
2686
11/20
4079
12/9
2/4
4261
434
3/22
12/9
991
4261
2/1
411
8/16
11/8
2741
3898
3/22
5/23
993
1730
8/30
2990
6/4
1824
1963
1026
Pages
Staff of Board of Governors: (continued)
Office of Defense Planning:
Grimwood, Gordon B., Chief, Liaison Office,
salary increased
Harris, Innis D., Coordinator:
Redesignation to serve as an associate
on the Presidents' Conference Subcommittee on Emergency Operations,
approved
Travel to West Point, New York, to study
possibility of storing gold to
supplement vault facilities for
gold storage at FRBank of New
York, approved
Salary approved
Secretary's Office:
Banks, Laura J., Records Clerk, resignation
accepted
Bates, Cornelia A., Supervisor, Non-current
Records and Records Disposal,
salary increased
Beeson, Adaline R., Records Analyst, salary
increased
Broida, Arthur L., Assistant Secretary:
Appointment and salary approved
Salary approved
Brow, Lillie B., Assistant Supervisor,
Subject Files:
Salary increased
Application for retirement noted
Caldow, Margaret C., Assistant Supervisor,
Stenographic Section, change in
title from Secretary to, with
increase in salary approved
Carmichael, Elizabeth L., Assistant Secretary, salary approved
Carrick, Elsie N., Assistant Supervisor,
Stenographic Section, application
for retirement noted
Clarke, Barbara M., Clearing Assistant,
appointment and salary approved
Eaton, Marjorie, Secretary, salary increased
Elliott, Lee Sawyer, Supervisor, Clearing
Unit, salary increased
Freeman, Allene H., Records Clerk, resignation accepted
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/27
2125
3/19
943
7/10
12/9
2241
4261
9/18
3231
7/1
2171
7/1
2171
7/23
12/9
2384
4260
11/20
12/26
4078
4552
6/7
1842
12/9
4260
6/17
1936
4/15
7/1
1227
2171
4/26
1350
2/1
411
1963
1027
Pages
Staff of Board of Governors: (continued)
Secretary's Office: (continued)
Gheen, Dorothy Ann, Clerk-Stenographer,
transfer from the position of
Clerk-Stenographer in the Division
of Personnel Administration with
no change in salary, approved
Goodloe, Ida, Supervisor, Stenographic Section, salary increased
Golodner, Judith M., Secretary:
Transfer from Division of Personnel
Administration, with no change in
basic annual salary, approved
Salary increased
Halota, Enid J., Secretary, granted leave
without pay from August 18, 1963,
through August 30, 1963
Hunter, Beatrice, Chief, Records Section,
salary increased
Jarvis, Eva L., Minutes Clerk, appointment
and salary approved
Jones, Carol Lee, Secretary:
Salary increased
Transfer to Division of Bank Operations
with no change in title, approved
salary increased
Jones, M. Elizabeth, Technical Assistant,
salary increased
Karstetter, Carol M., Secretary, salary
increased
Kenyon, Kenneth A., Assistant Secretary:
Redesignation to serve as an associate
on the Subcommittee on Retention
and Disposal of Records, approved
Salary approved
Kray, Cleo J., Records Clerk, salary increased
Landry, Richard S., Assistant to the Secretary:
Salary increased
Resignation accepted
Mattras, John J., General Assistant, salary
increased
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/8
2626
7/1
2171
8/2
9/26
2560
3345
7/26
2471
10/7
3451
7/11
2262
2/7
489
9/27
3375
11/20
4078
11/20
4078
3/19
12/9
10/23
943
4260
3616
7/26
9/11
2470
3099
3/18
915
1963
1028
Pages
Staff of Board of Governors: (continued)
Secretary's Office: (continued)
McCaslin, Nancy H., Indexing and Reference
Assistant:
Salary increased
Transfer to Division of Research and
Statistics with title of Editorial
Clerk, approved, with no change
in basic annual salary
Molster, Margaret J., Supervisor, Subject
Files, salary increased
Quick, Diane, Secretary, appointment and
salary approved
Reames, Frances K., Records Clerk, appointment and salary approved
Scott, Joan L., Records Clerk, salary
increased
Scott, Mary L., Indexing and Reference Assistant, salary increased, with change
in title from Records Clerk
Seay, Jewell I., Indexing and Reference
Assistant, appointment and salary
approved
Semia, Jeanne Krieger, Technical Assistant,
salary increased
Sherman, Ann, Secretary, transfer to the
position of Secretary in the Division of Research and Statistics
with no change in salary, approved
Sherman, Merritt, Secretary, salary approved
Spencer, George L., Jr., General Assistant,
salary increased
Stoll, Edna L., Senior Records Clerk, salary
increased
Wahle, Mary William, Records Clerk, salary
increased
Williams, Gloria J. H., Secretary, appointment and salary approved
Wilson, Mary H., Minutes Clerk, granted permission to work part-time for
Air Force Associates
Stan,
--Ps:
Commemorative with respect to 50th anniversary of
the FRSystem, proposal re request
for issuance of, agreed to endorse
the idea
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/1
2171
9/18
3231
11/20
4078
6/7
1842
5/10
1533
10/7
3451
3/18
915
12/27
4559
11/20
4078
6/27
12/9
2125
4260
3/18
915
12/2
4173
5/20
1654
10/9
3496
12/16
2/27
4387
700
1963
1029
Pages
S tate bankers:
Luncheons, practice of providing luncheons on the
occasion of visits to the Board
by State bankers and similiar
groups be continued during the
early part of 1963, recommendation approved
State Laws:
Dormant accounts, (abandoned property), letter
to FRBanks re compliance with,
and re possible efforts of State
authorities to examine or inspect
books of FRBanks under
State member banks:
Branch banks, applications to establish:
Division of Examinations to continue to urge
expeditious processing by the
FRBanks of, in light of question
by State Bank Commissioner re
delay in action on application
held by the FRBank of Philadelphia
Procedure re announcement of Board's approval re, agreed to obtain views of
FRBanks before adopting, announcement of receipt of branch applications, question with respect to
Procedures of Board for approving, letter
sent to Chairman Robertson, of
the Senate Banking and Currency
Committee in reply to request
for information re, particularly
in relation to recent experience
in 10th Congressional Distict of
Virginia
Six-month maximum extension of time will be
included in Board's approval re,
FRBanks authorized to advise
State member banks, further extensions should not result in
total extensions aggregating
more than the six-month extension, advice to FRBanks
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/9
74
7/18
2338, 2348
2/15
572
7/2
2177-78
7/10
2219, 2245
8/2
2558, 2572
1963
1030
Pages
State member banks: (continued)
Branch banks, applications to establish: (continued)
Board's general policy re time to establish
and extension of time to establish
branches, discussed in transmittal
letter to FRBank of Atlanta re approval of application by CitizensFarmers and Merchants Bank, Brewton, Alabama, to establish a
branch in East Brewton, Alabama
Coin, services for member banks, coin wrapping,
telegram to Presidents of all
FRBanks concurring in actions of
Conference of Presidents re
wrapped coin, acceptance of deposits of wrapped coin from all
member banks from October 1 to
December 31, 1963
Condition reports:
SEE: Condition reports:
State member banks
Examinations:
Crimes against banks:
Inquiry from Congressman Fascell re
preventive measures taken by
Board to cope with, reply indicating procedures followed by FRBank
examiners which would have possible bearing on, approved
In reply to Chairman Fascell of House
Legal and Monetary Affairs Subcommittee, Board enclosed a paper
entitled "Bank Supervision and
Examination in Relations to Prevention, Detection, and Prosecution of Crimes Against State Member Banks", Governor Robertson
and Mr. Frederic Solomon, Director, Division of Examinations to
represent Board at forthcoming
hearings re
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/12
2681, 2695
9/16
3162, 3173
5/1
1419, 1427
9/16
3163, 3174
1963
1031
Pages
State member banks: (continued)
Examinations: (continued)
Directors, special, including members of
branch advisory boards and persons appointed in an honorary
advisory capacity, detailed listing in reports of, rescinded, advice to Presidents of all FRBanks,
information re compensation of
branch or honorary directors to
continue to be provided in reports
of
Expense incurred by the FRSystem with respect
to supervision and, estimate requested by FDIC to assist in projecting a hypothetical sum of noninsurance expenses of the proposed
Federal Banking Commission whose
establishment is the subject of
H.R. 5874
Instructions to examiners, previous request
for detailed listing in reports
of examination of members of
branch advisory boards and persons appointed in an honorary
advisory capacity to boards of
directors, rescinded, advice to
Presidents of all FRBanks, information re compensation of branch or
honorary directors to continue to
be provided
Instructions re revised and new pages of report, including new page for purpose of reporting differences in
reports of condition and examination reports, and re certain information when a bank acts as trustee or agent, instructions sent to
all FRBank Presidents
Investment tax credit allowable under Revenue
Act of 1962, treatment of, in
examination reports and condition
reports, advice to FRBank of San
Francisco
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/9
1514, 1527
6/24
2042, 2047
5/9
1514, 1527
6/10
1858, 1869
6/10
1858, 1867
1963
1032
Pages
State member banks: (continued)
Examinations: (continued)
Reports, Form F.R. 209 summary of national
and, program to revise and expand, providing supplementary
banking data authorized, instructions re preparation transmitted
to all FRBanks
Reports from FRBanks re examination of State
member banks felt to be important
in determining quality of bank
management and availability of
capable succession, Governor
Robertson's suggestion that FRExaminer should bring bank management and succession problems to
a bank's Board of Directors rather
than the FRBank handling the problem, to be given further consideration by the Division of Examinations
Repurchase arrangements in transactions between Morgan Guaranty Trust Company of New York and dealers in
municipal securities, question
re reporting as loans or investments in securities in reports
of condition and reports of,
advice to FRBank of New York
Income and dividends reports:
Midyear, Board to take no further action in
connection with, in absence of
formal representations from other
agencies re
Letter to Presidents of all FRBanks transmitting copies of the form for,
and submitting, letter to be
sent when form is printed
Membership condition numbered 1:
Procedure for handling requests for permission to make a change in the general character of business or in
the scope of the corporate powers
exercised by, at the time of admission under, letter to FRBank
of Chicago, with a similar letter
to Presidents of all FRBanks
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/15
574, 601
7/25
2441
4/2
1114, 1133
6/10
1858, 1871
12/5
4244
5/14
1562, 1569
1963
1033
Pages
State member banks: (continued)
Membership condition numbered 1: (continued)
Procedure for handling applications by State
member banks for permission to
exercise fiduciary powers under,
letter to FRBanks supplementing
Board's previous instructions
(Individual banks):
Abington Bank and Trust Company, Abington, Illinois:
Continuance of deposit insurance after withdrawal from membership in FRSystem,
advice to FDIC
Six months' notice of withdrawal from membership in FRSystem waived
American Bank of Sarasota, Florida, granted 90day extension of time within
which to accomplish membership
in FRSystem
(Title changed from Peoples Bank of Sarasota,
Florida - see Records)
American Bank and Trust Company, Racine, Wisconsin:
Application of First Wisconsin Bankshares
Corporation, Milwaukee, Wisconsin,
to acquire shares of, issuance of
order and statement denying application authorized
Petition for reconsideration of Board's
order denying application by First
Wisconsin Bankshares Corporation,
Milwaukee, Wisconsin, to acquire
the stock of, and request to
present additional evidence and
interrogate witnesses, denied,
order issued
American Trust & Savings Bank, Dubuque, Iowa,
an investment in bank premises
for purpose of remodeling and
expanding banking facilities,
approved
Ann Arbor Bank, Ann Arbor, Michigan:
Application to merge with Dexter Savings
Bank, Dexter, Michigan, approved
Issuance of order and statement authorized,
office of The Dexter Savings
Bank to be operated as a branch
of the Ann Arbor bank
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/11
2254, 2269
12/9
4246, 4266
12/12
4343, 4351
2/26
683, 688
1/30
292, 307-326
5/22
1694, 1711
9/26
3341, 3348
1/17
147
2/5
445, 461-63
1963
1034
Pages
State member banks: (continued)
Annapolis Banking and Trust Company, Annapolis,
Maryland, establishment of a
branch at western corner of
Ritchie Highway and McKinsey
Road, Anne Arundel County, Md.,
approved, six-month extension
approved
Arkansas Bank and Trust Company, Hot Springs,
Arkansas, pending taxpayer's
refund suit entitled Arkansas
Bank and Trust Company v. United
States, request by Justice Department for information relating to
action by, in leasing land upon
which it subsequently constructed
a new banking house, advice to
FRBank of St. Louis with respect
to information that may be released to Justice Department
Arnold Savings Bank, Arnold, Missouri, practice
in maintaining an account with
a nonpar bank which paid nonpar
checks without deducting exchange
charges by, agreed on no action
at present time
Asbury Park and Ocean Grove Bank, Asbury Park,
New Jersey:
Application to merge with New Jersey Trust
Company of Long Branch, New Jersey,
approved
Issuance of order and statement authorized,
operation of a branch incident to
the merger, approved
Bank of Bogota, New Jersey:
Application of Hackensack Trust Company,
Hackensack, New Jersey, to merge
with, approved, Governors Robertson and Mitchell dissenting
Issuance of order, statement, and dissenting
statement of Governor Robertson,
with which Governor Mitchell concurs authorized, with the office
of, becoming a branch
Request for reconsideration of Board's order
and statement approving merger
into Hackensack Trust Company,
Hackensack, N.J., denied, reply
to Charles Ford
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/2
10/16
2558, 2569
3561, 3577
6/26
2073
8/8
2623
8/16
2729, 2759-61
1/17
141
1/30
293, 367-376
2/13
537, 546
1963
1035
Pages
State member banks: (continued)
Bank of Carthage, Missouri, establishment of a
branch at 200 West Third Street,
Carthage, Missouri, approved, sixmonth extension approved
Bank of Christiansburg, Virginia, additional investment in bank premises approved
Bank of the Commonwealth, Detroit, Michigan, establishment of a branch at 2580 Woodward Avenue, Bloomfield Township,
Oakland County, Michigan, approved, six-month extension approved
Bank of Dearborn, Michigan, establishment of a
branch at 12701 West Warren Avenue,
in connection with the removal of
the head office from that address
to a location in the vicinity of
the intersection of Michigan
Avenue and Outer Drive, approved
with understanding re increase in
capital structure, six month extension approved
Bank of Gassaway, West Virginia, investment in
bank premises approved
Bank of Georgia, Atlanta, Georgia, establishment
of a branch in Doctors Building,
494 Peachtree Street, N.E., Atlanta
Georgia, approved, six-month extension approved
Bank of Hartsville, South Carolina, establishment
of a branch at northeast corner
of West Carolina Avenue, and
Cedar Lane, Hartsville, South
Carolina, approved, six-month extension approved
Bank of Idaho, Boise, Idaho:
Application to merge with Panhandle State
Bank, Coeur d'Alene, Idaho,
approved
Issuance of order and statement authorized,
office of former bank to be
operated as a branch of
Reference to bank's capital position in letter transmitting order and statement
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/4
3019, 3038
5/22
1679, 1702
5/1
1424, 1440
2/15
572, 589
5/22
1679, 1701
4/24
1315, 1331
6/20
1991, 2009
4/9
1180
4/15
1218,1230-32
4/15
1237
1963
1036
Pages
State member banks: (continued)
Bank of Idaho, Boise, Idaho: (continued)
Establishment of a branch in downtown business district of Lewiston, Idaho,
approved, six-month extension
approved
Establishment of a branch in downtown business district of Nampa, Idaho,
approved, with notation re need
of strengthening bank's capital
position, six-month extension of
time approved
Establishment of a branch in the downtown
business district of Moscow, Idaho,
approved, six-month extension of
time approved
Bank of Indiana, Gary, Indiana, establishment of
a branch at 2020 Broadway, sixmonth extension approved
Bank of Jamestown, New York, New York:
Application to merger with Clymer State Bank,
Clymer, New York, approved
Issuance of order and statement authorized, operation of a branch at
office of Clymer State Bank,
Clymer, New York, incident to
merger, approved
Establishment of a branch at 184 Fluvanna
Avenue, Jamestown, New York, approved, six-month extension approved
Bank of Las Vegas, Nevada:
Establishment of a branch in downtown business district (vicinity of Navy
and Market Streets), Henderson,
Nevada, approved, six-month extension approved
Establishment of a branch in the vicinity of
the intersection of Riviera Road
and Las Vegas Boulevard in an unincorporated section of Clark
County, Nevada, approved, sixmonth extension approved
Establishment of a branch in the vicinity of
the intersection of East Fremont
Street and East Charleston Blvd.
in an area adjacent to the city
limits of Las Vegas, approved,
six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/3
2186, 2200
7/23
2375, 2387
7/12
2274, 2282
1/4
4, 16
1/10
83
1/14
115
4/15
1218, 1229
1/18
170, 182
5/6
1477, 1496
5/6
1477, 1497
1963
1037
Pages
State member banks: (continued)
Bank of the Mainland, La Marque, Texas:
Data processing services performed by Central
Data Processing, Inc., for, question re sufficiency of assurances
under section 5, Bank Service
Corporation Act, re regulation
and examination of such services,
agreement that assurances do not
comply, advice to FRBank of Dallas
Waiving requirement of six months notice of
withdrawal from membership in
FRSystem, approved
Withdrawal from membership in FRSystem, advice to FDIC re continuance of
deposit insurance, letter to
FDIC also states bank has been
urged to review its current
credit policies and collection
practices
Bank of New Orleans and Trust Company, New Orleans,
Louisiana, protesting proposed
new bank, Whitney National Bank
in Jefferson Parish, which is contingent upon formation of Whitney
Holding Corporation, New Orleans,
Louisiana, letter to Justice
Department advising that Board's
recommendation of August 22, 1963,
re question of petition for certiorari in case of Saxon v. Bank
of New Orleans and Trust Company
remained unchanged
Bank of Nutley, New Jersey, establishment of a
branch at intersection of Kingsland Street and Darling Avenue,
Nutley, New Jersey, approved,
six-month extension approved
Bank of Rangely, Colorado, application for membership in FRSystem approved
subject to 3rd condition stating
amount of capital stock required
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/20
960, 975
9/5
3050, 3053
9/23
3268, 3290
11/6
3823, 3832
5/15
1577, 1590
4/19
1262, 1288
1963
1038
Pages
State member banks: (continued)
Bank of Rockville Centre Trust Company, Rockville
Centre, New York:
Application of Chemical Bank New York Trust
Company, New York, New York, to
merge with:
Representatives of Banking Markets
Unit, Division of Research and
Statistics, and Legal and Examinations Divisions to join representatives of FRBank of New York
to make an on-the-spot survey of
the market area involved
Possible effect on Board's report on
competitive factors to Comptroller of the Currency re transaction in Farmingdale, New York,
referred to
Staff and FRBank of New York not to
proceed with on-the-spot survey
of the market area, agreed matter
of survey be tabled
Agreed that an oral presentation would
not be held in regard to the application
Further discussion and views of Board
members expressed, application
approved with Governor Robertson
dissenting
High premium noted, trend toward concentration of power in banks
that can afford to pay premiums
too high to be resisted, questioned
by Governor Robertson
Draft of order and statement reviewed,
statement to be redrafted
Issuance of order, majority statement,
and dissenting statement of Governor Robertson, authorized,
operation of branches at three
present offices of, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/4
433
3/18
897
4/12
1207
5/16
1618
5/22
1681
5/22
1690
5/27
1768
5/27
1773, 1782-84
1963
1039
Pages
State member banks: (continued)
Bank of Salem, Virginia:
Issuance of limited voting permit to Virginia
Commonwealth Corporation, Richmond,
Virginia, to vote the stock of
Bank of Warwick, Newport News, The
Bank of Virginia, Richmond, Va.,
and, authorized
Telegram to FRAgent at FRBank of Richmond,
authorizing issuance of general
voting permit to Virginia Commonwealth Corporation, Richmond,
Virginia, covering its stock in
Bank of Smithfield, Virginia, additional investment in bank premises for purpose
of constructing drive-in facilities, approved
Bank of South Haven, South Haven, Michigan:
Application to consolidate with Peoples
State Bank of Bloomingdale,
Bloomingdale, Michigan, under
the title of Citizens Trust and
Savings Bank, approved
Issuance of order and statement authorized
Bank of Sussex County, Franklin, New Jersey:
Application of Sussex County Trust Company,
Franklin, New Jersey, to merge
with Farmers National Bank of
Sussex, New Jersey, under title
of, approved, Governor Robertson
dissenting
Draft of order and statement reviewed,
decision to redraft
Issuance of order, majority statement,
and dissenting statement of Governor Robertson, authorized, operation of branch at location of
Farmers National Bank of Sussex,
approved
Establishment of a branch bank in the vicinity of the intersection of Alternate Route 517 and Lake Iliff
Road, Andover Township, Sussex
County, New Jersey, approved,
six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/4
4, 21
8/27
2919, 2938
8/16
2726, 2747
10/8 3462
10/15 3549, 3554
5/16
1610
5/27
1767
5/29
1794, 1802
10/24
3640, 3657
1963
1040
Pages
State member banks: (continued)
Bank of Virginia, Richmond, Virginia:
Issuance of limited voting permit to Virginia
Commonwealth Corporation, Richmond,
Virginia, to vote the stock of
Bank of Warwick, Newport News,
The Bank of Salem, Virginia, and,
authorized
Proposed merger with The Farmers Bank of
Dinwiddie, Virginia, issuance of
limited voting permit to Virginia
Commonwealth Corporation, Richmond,
Virginia, granting permission to
vote on proposed merger and advising that such permission gives no
indication of Board's views with
respect to
Issuance of limited voting permit to Virginia
Commonwealth Corporation to vote
stock of, authorized
Request for interpretation under section 6(a)
(2) of the Bank Holding Company
Act re possible violation by,
Board concludes violation occurred
when Bank accepted stock of Virginia Commonwealth Corporation in
exchange for stock in The Bank of
Henrico, advice to FRBank of
Richmond
Application to merge with The Farmers Bank
of Dinwiddie, Virginia, applicant's capital position and manner in which Virginia Commonwealth
Corporation proposes to raise
money for purchase of additional
stock criticized, application approved with understanding re need
for strengthening of capital
position
Issuance of order and statement, authorized, transmittal letter emphasizing the need for strengthening
capital position, the single office of The Farmers Bank of Dinwiddie to be operated as a
branch
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/4
4, 21
2/8
513
4/5
1149, 1154
5/6
1477, 1499
5/20
1643
5/24
1755,1757-64
1963
1041
Pages
State member banks: (continued)
Bank of Virginia, Richmond, Virginia: (continued)
Application to merge with Bank of Henrico,
Sandston, Virginia, approved,
reference to bank's capital position and study by staff of capital position of all the banks in
the Virginia Commonwealth Corporation holding company group
Issuance of order and statement authorized, including approval of
operation of offices of Bank of
Henrico as branches, further
reference to need for strengthening capital position in letter
transmitting order to
Capital position of:
Draft letter for Board's consideration
to give admonition to Virginia
Commonwealth Corporation, Richmond, Virginia, to strengthen
Redraft of letter to Virginia Commonwealth Corporation, warning of
necessity of capital improvement
of, approved
Telegram to FRAgent at FRBank of Richmond,
authorizing issuance of a general
voting permit to Virginia Commonwealth Corporation, Richmond,
Virginia, covering its stock in
Application to merge with Hallwood National
Bank, Hallwood, Virginia, approved, Governors Mills and Robertson dissenting
Issuance of order, statement, and dissenting statement authorized,
operation of a branch at the
office of Hallwood National Bank
approved
Bank of Warwick, Newport News, Virginia:
Issuance of limited voting permit to Virginia
Commonwealth Corporation, Richmond,
Virginia, to vote the stock of
The Bank of Virginia, Richmond,
Virginia, The Bank of Salem,
Virginia, and, authorized
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/11
1883
6/17
1933, 1944-51
7/26
2455
8/16
2730, 2789
8/27
2919, 2938
11/27
4133
12/4
4204, 4222
1/4
4, 21
1963
1042
Pages
State
member banks: (continued)
Bank of Warwick, Newport News, Virginia: (continued)
Telegram to FRAgent at FRBank of Richmond,
authorizing issuance of a general
voting permit to Virginia Commonwealth Corporation, Richmond, Va.,
to vote its stock in
Bank of Worcester, New York, report to the Comptroller of the Currency on the
competitive factors in the proposed
merger of, into National Commercial
Bank and Trust Company, Albany, New
York, approved
Bankers Trust Company of New York, New York:
BT New York Corporation, wholly-owned subsidiary of, proposed purchase of
assets of First National Bank of
Farmingdale, New York (new bank
organized to purchase assets of
present First National Bank of
Farmingdale), possible violation
of section 9, para. 20, FRAct,
and section 5136, Revised Statutes, Comptroller of the Currency advised that Board was studying the situation, and letter to
Bankers Trust Company requesting
views
Further discussion, letter to Comptroller re situation
Draft of proposed letter to Bankers Trust
Company sent to Comptroller of
the Currency for comment
Further discussion, letter approved for
transmittal to Bankers Trust Company
Granted extension of time within which to
establish a branch at 2 Lafayette
Street, Manhattan, New York
Establishment of a branch at 99 John Street,
Borough of Manhattan, New York,
New York, approved, six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/27
2919, 2938
12/4
4202
3/6
782, 807-08
3/18
896, 927
4/19
1269, 1307
4/30
1399, 1411
3/18
895, 917
3/20
960, 979
1963
1043
Pages
State
member banks: (continued)
Bankers Trust Company, New York, New York: (continued)
Establishment of a branch in the Bruckner
Plaza Shopping Center, southeast
corner of Bruckner Boulevard and
White Plains Road, Borough of
the Bronx, New York, New York,
approved, six-month extension
6/21
approved
assume
and
Application to purchase assets
liabilities of First National
Bank of Farmingdale, New York,
approved, Governor Robertson
7/23
dissenting
authostatement
and
order
of
Issuance
rized, operation of a branch
7/26
approved
299-301-303
a
at
of
branch
Establishment
Sunrise Highway, Incorporated
Village of Rockville Centre,
Nassau County, New York, approved,
8/19
six-month extension approved
of
behalf
Bankers
on
Application submitted by,
International Corporation, New
York, New York, an Edge corporation, to amend Articles of Association of BIC to increase capital stock whereby Bankers Trust
would buy additional shares, and
for BIC to invest in l'Union des
Mines-La Henin, Paris, France,
approved, Governor Robertson
9/3
dissenting
cornortheast
Establishment of a branch at
ner of Victory Boulevard and
Manor Road, Castleton Corners,
Borough of Richmond, New York,
New York, approved, six-month
9/27
extension approved
Beloit State Bank, Beloit, Wisconsin:
Application of Marine Corporation, Milwaukee,
Wisconsin, to acquire shares of,
issuance of order and statement
1/30
denying application, authorized
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2027, 2033
2377
2469,2480-89
2796, 2812
2998, 3014
3356, 3377
292, 342-66
1963
1044
Pages
State
member banks: (continued)
Beloit State Bank, Beloit, Wisconsin: (continued)
Application of Marine Corporation, Milwaukee,
Wis., to acquire shares of: (continued)
Petition for reconsideration of Board's
order denying application by
Marine Corporation, Milwaukee,
Wisconsin, to acquire stock of,
and request to present views
orally before the Board, denied,
5/22
order issued
Question from, whether deposits evidenced by forms of certificates
with fixed maturities payable at
a specified date, could be classified as savings deposits under
Regulation Q, advice to FRBank
6/11
of Chicago
Birmingham-Bloomfield Bank, Birmingham, Michigan,
establishment of an in-town branch
at 1040 East Maple Road, approved,
10/10
six-month extension approved
Bloomfield State Bank, Bloomfield, Indiana, additional investment in bank pre5/22
mises approved
B
loomsburg Bank-Columbia Trust Company, Bloomsburg,
Pennsylvania, establishment of a
branch in Maust Brothers Shopping
Center located in 1000 block of
South Market Street, Bloomsburg,
Pennsylvania, approved, six-month
8/27
extension approved
B°Onton Trust Company, Boonton, New Jersey, establishment of a branch on Powerville
Road, immediately adjacent to rear
of present banking office, Boonton
Township, New Jersey, approved,
understood operation of branch
at Hawkins Place, Town of Boonton,
will be discontinued simultaneously with establishment of a branch
8/16
on Powerville Road
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1694, 1713
1879, 1893
3504, 3522
1679, 1703
2919, 2936
2726, 2754
1963
1045
Pages
State member banks: (continued)
Brand Banking Company, Lawrenceville, Georgia,
establishment of a branch bank
on Grogan Street about four
blocks east of the main banking
office, approved, six-month extension approved
Brownsburg State Bank, Brownsburg, Indiana, investment in banking premises, approved
Buffalo Bank, Buffalo, West Virginia, investment
in bank premises, approved, expenditure to be made in connection with bank's relocation of
its head office from Buffalo to
Eleanor, West Virginia, noted
Byron Center State Bank, Byron Center, Michigan,
establishment of a branch bank
at 3208 24th Avenue, S.W., in
the village of Jamestown, Ottawa
County, Michigan, approved
Cambria Bank, Cambria, Virginia, establishment
of a branch in vicinity of intersection of State Highway 114 and
U.S. Highway 460, about 1.8 miles
from town of Cambria, approved,
with provision that capital stock
of, be increased prior to the
establishment of the branch, sixmonth extension approved
Camden Trust Company, Camden, New Jersey, establishment of a drive-in facility
in Parkade Building at Roosevelt
Plaza near Federal Street in
Camden, New Jersey, approved, sixmonth extension approved
Carbon Emery Bank, Price, Utah, establishment of
a branch in Castle Dale, Utah,
approved, six-month extension
approved
Cass Bank and Trust Company, St. Louis, Missouri,
absorption of exchange charges
in excess of $2 a month noted in
examination report of, understood
no warning letter would be sent,
matter to be reviewed following
issuance of report of Committee
on Financial Institutions
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/24
3640, 3658
11/8
3890, 3899
4/24
1315, 1323
10/15
3546, 3550
11/26
4095, 4100
3/20
960, 978
1/4
4, 18
3/18
903
1963
1046
Pages
State member banks: (continued)
Central Bank Company, Lorain, Ohio:
Application of Lorain County Savings and
Trust Company, Elyria, Ohio, to
merge with, denied by majority
vote, Governors Shepardson and
Balderston dissenting, consensus
that no oral presentation should
be ordered
Issuance of order, statement, and dissenting statement of Governor
Shepardson in which Governor
Balderston concurred, authorized
Central Bank of Montana, Great Falls, Montana:
Issuance of limited voting permit to Bancorporation of Montana to vote stock
of, authorized
Board deems it inappropriate to authorize
voting permit to Bancorporation
of Montana, with respect to shares
of, because of condition of, and
other subsidiary banks of Bancorporation, Board to consider
issuance of limited voting permits as needed, no objection by
FRBank of Minneapolis
Issuance of limited voting permit to Bancorporation of Montana, Great Falls,
Montana, to vote stocks of Liberty
County Bank, Chester, Montana,
Central Bank of Montana, Great
Falls, Montana, and Citizens Bank
of Montana, Havre, Montana, authorized
C
entral Bank and Trust Company, Denver, Colorado,
requesting a public hearing on the
application by Denver U.S. Bancorporation, Denver, Colorado, to become a bank holding company, or
if that request be denied, that
the bank be permitted to file a
written objection, although the
30-day period has expired, advice
to
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/11
4326
12/23
4497,4513-22
1/25
269, 279
10/3
3435, 3438
12/27
1/31
4556, 4561
380, 402
1963
1047
Pages
State member banks: (continued)
Central State Bank, Connersville, Indiana, investment in banking premises
approved, understood that an
affiliate building corporation
is to be organized to own and
operate the new bank premises
Central Trust Company, Cincinnati, Ohio:
Extension of time to establish a branch at
3300 Central Parkway, approved
Further extension, approved
Extension of time within which, may establish
a branch at southeast corner of
Northland and Waycross Roads,
Village of Forest Park, Ohio,
approved
Extension of time to establish a branch on
Glenway Avenue, 600 feet west of
Werk Road, Cincinnati, Ohio,
approved
Central Trust Company, Rochester, New York, establishment of a branch in the terminal building of the Rochester
Monroe County Airport, 1200 Brooks
Avenue, City of Rochester, Monroe
County, New York, approved, sixmonth extension approved
Chase Manhattan Bank, New York, New York:
Establishment of a branch at 75 West Merrick
Road, Freeport, New York, approved,
six-month extension approved
Establishment of a branch at 3938 Richmond
Avenue, Eltingville, Staten Island,
New York, approved, six-month extension approved
Extension of time to establish a branch at
2840 Jerusalem Avenue, unincorporated area of North Bellmore,
Nassau County, New York, approved
Establishment of a branch in Taconic Plaza
Shopping Center, New Castle, New
York, approved, six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/28
3687,3694
1/31 380, 401
10/25 3670, 3685
9/18
12/10
3212, 3232
4315, 4320
5/20
1643, 1656
2/7
478, 496
3/20
960, 977
3/22
989, 994
4/24
1315, 1330
1963
1048
Pages
State member banks: (continued)
Chase Manhattan Bank, New York, New York: (continued)
Establishment of a branch at 74-25 Grand
Avenue, Maspeth, Queens, New
York, for limited purpose of conducting operations of a coin processing center including the
receipt of deposits and the payment of withdrawals, primarily
in coin, approved, six-month ex6/20
tension approved
Neptune
486
at
branch
a
of
Establishment
Avenue, Brooklyn, New York, approved, six-month extension
7/26
approved
Amsterdam
208
at
branch
a
Establishment of
Avenue, Borough of Manhattan,
New York, New York, approved,
7/24
six-month extension approved
3479-81
Merrick
at
Establishment of a branch
Road, Unincorporated Village of
Seaford, Town of Hempstead, Nassau
County, New York, approved, six8/12
month extension approved
Wolf
305
Establishment of a branch bank at
Lane, Pelham, New York, approved,
10/25
six-month extension approved
at:
located
Establishment of four branches
New Road 1154-5, Bangkok, Thailand;
216/220 Rajawongse Road, Bangkok,
Thailand; No. 1 Cecil Street,
Singapore, Federation of Malaysia;
and 15 Queen's Road - Central,
Hong Kong, Colony of Hong, approv11/1
ed, six-month extension approved
U,
Avenue
3126
Establishment of a branch at
Brooklyn, New York, approved, six11/15
month extension approved
Board acknowledges receipt of notice of intent to establish an additional
branch in San Juan, Puerto Rico,
at the southwest corner of Franklin D. Roosevelt Avenue and Main
11/18
Street
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1990, 2006
2454, 2473
2403, 2429
2680, 2688
3669, 3680
3730, 3731-43
4005, 4008
4028
1963
1049
Pages
State
member banks: (continued)
Chase Manhattan Bank, New York, New York: (continued)
Establishment of a branch at 1501 Avenue M,
Borough of Brooklyn, Kings County,
New York, approved, six-month ex11/29
tension approved
Report to FDIC on the competitive factors in
the proposed acquisition of assets
and assumption of liabilities of
the Bangkok, Singapore, Hong Kong
branches of National Handelsbank,
N.V., Amsterdam, The Netherlands,
12/4
by, approved
Chemical Bank New York Trust Company, New York, N.Y.:
Establishment of a branch on north side of
Fulton Avenue, Hempstead, New
York, approved, six-month exten1/14
sion approved
Application to merge with Bank of Rockville
Centre Trust Company, Rockville
Centre, New York, representatives
of Banking Markets Unit, Division
of Research and Statistics, and
Legal and Examinations Divisions
to join representatives of FRBank
of New York to make on-the-spot
2/4
study of market area involved
Moore
re
&
Swaine
Request by Cravath,
matters involving preparation of
2/5
application, reply approved
Reference to proposed merger with Bank
of Rockville Centre Trust Company,
Rockville Centre, New York, in
3/18
relation to Farmingdale case
Staff and FRBank of New York not to
proceed with on-the-spot survey
of the market area, agreed matter
4/12
of survey be tabled
Preliminary memorandum from Examinations
Division reviewed, agreed that an
oral presentation would not be
held in regard to, advice to
5/16
FRBank of New York
Further discussion and views of Board
members expressed, application
approved with Governor Robertson
5/22
dissenting
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4140, 4152
4203
98, 111
433
440, 452
897
1207
1618
1681
1963
1050
Pages
State
member banks: (continued)
Chemical Bank New York Trust Company, New York, N.Y.:
Application to merge with Bank of Rockville
Centre Trust Company, Rockville
Centre, New York: (continued)
High premium noted, trend toward concentration of power in banks that
can afford to pay premiums too
high to be resisted, questioned
by Governor Robertson
Draft of order and statement reviewed,
statement to be redrafted
Issuance of order, majority statement,
and dissenting statement of Governor Robertson, authorized,
operation of branches at three
present offices of Bank of Rockville Centre Trust Company,
approved
Establishment of a branch in Rochdale Village
Shopping Center, southeast corner
of New York and Baisley Boulevards,
Jamaica, Queens County, New York,
approved, six-month extension
approved
Establishment of a branch at 360 East 72nd
Street, Borough of Manhattan,
New York, New York, approved, sixmonth extension approved
Establishment of a branch at 57-02 99th Street,
Corona, Queens County, New York,
and a temporary branch at 59-05
Junction Boulevard, Corona, Queens
County, New York, temporary branch
to be closed simultaneously with
the opening of the permanent
branch, six-month extension approved
Extension of time to establish a branch at
277 Park Avenue, Borough of Manhattan, approved
Establishment of a branch at 124 East Park
Avenue, Long Beach, Nassau County,
New York, approved, six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(continued)
5/22
1690
5/27
1768
5/27
1773,1782-84
3/22
986, 999
6/21
2027, 2032
6/24
2041, 2045
7/24
2402, 2426
8/9
2657, 2667
1963
1051
Pages
State
member banks: (continued)
Chemical Bank New York Trust Company, New York, N.Y.:
Establishment of a branch in the Arcadian
Shopping Center, South Highland
Avenue, Village of Ossining, New
York, approved, six-month extension approved
Chesaning State Bank, Chesaning, Michigan, investment in bank premises, approved
Chester-Schroon-Horicon Bank, Chestertown, New
York, operation by, on a yearround basis of its seasonal branch
at Schroon Lake, Essex County,
New York, approved
Citizens Bank, Hebron, Indiana, granted permission
to exercise fiduciary powers
Citizens Bank of Montana, Havre, Montana:
Issuance of limited voting permit to Bancorporation of Montana to vote stock
of, authorized
Subsidiary of Bancorporation of Montana,
Great Falls, Montana, Board deems
it inappropriate to authorize
voting permit to Bancorporation
of Montana, with respect to shares
of, because of condition of, and
other subsidiaries of Bancorporation, Board to consider issuance
of limited voting permit as
needed, no objection by FRBank
of Minneapolis
Issuance of limited voting permit to Bancorporation of Montana, Great Falls,
Montana, to vote stock of Liberty
County Bank, Chester, Montana,
Central Bank of Montana, Great
Falls, Montana, and, authorized
Citizens Bank & Trust Company, Campbellsville,
Kentucky, establishment of a
branch in the downtown section
of Campbellsville, and an investment in bank premises, approved,
understanding that the banks
capital stock would be increased,
six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
(continued)
10/25
3669, 3679
3/22
986, 996
9/23
3268, 3286
4/9
1168, 1185
1/25
269, 279
10/3
3435, 3438
12/27
5/3
4556, 4561
1443, 1453
1963
1052
Pages
State member banks: (continued)
Citizens Bank & Trust Company, Park Ridge, Illinois,
holders of United Security Account Plan being advised by, of
changes in the Plan resulting in
the discontinuance of the conflict
with Regulation Q, letter to
Presidents of all FRBanks transmitting a copy of the letter submitting the changes
Citizens Commercial & Savings Bank, Flint, Michigan,
establishment of a branch at
G-3023 Miller Road, Flint Township,
Genesee County, Michigan, approved,
six-month extension approved
Citizens Commercial Trust and Savings Bank of
Pasadena, California, extension
of time within which to establish a branch at 1010 East
Colorado Boulevard, Pasadena,
California, approved
Citizens-Farmers and Merchants Bank, Brewton,
Alabama, establishment of a branch
in East Brewton, Alabama, approved
Citizens Fidelity Bank and Trust Company, Louisville, Kentucky:
Establishment of a branch in the community
of Fern Creek, Jefferson County,
Kentucky, approved, six-month
extension approved
Establishment of a branch in Chenoweth Plaza
Shopping Center on Brownsboro
Road near Chenoweth Lane in
Louisville, Kentucky, approved,
six-month extension approved
Citizens State Bank of Albuquerque, New Mexico,
application for membership in
FRSystem, approved
citizens State Bank of El Dorado, Kansas, establishment of a branch, in-town,
at 519-521 North Main Street, El
Dorado, Kansas, approved, sixmonth extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/1
739, 755-56
6/7
1840, 1852
9/27
3356, 3381
8/12
2681,2694-95
2/15
572, 588
8/22
2848, 2877
7/29
2492, 2505
10/29
3697, 3701
1963
1053
Pages
tate member banks: (continued)
Citizens State Bank of Milford, Illinois:
Six months notice of withdrawal from membership in FRSystem waived
1/18
Continuance of deposit insurance after withdrawal from membership in the
FRSystem, advice to FDIC
2/5
Citizens State Bank, Puyallup, Washington, establishment of a branch in vicinity
of Airport and Canyon Roads, in
unincorporated area of Pierce
County, Washington, approved, sixmonth extension approved
6/17
Citizens Trust and Savings Bank, South Haven, Michigan:
Established under title of, as a result of
the approved consolidation of Peoples Bank of Bloomingdale, Mich.,
with Bank of South Haven, Michigan
10/8
Issuance of order and statement, authorized, operation of a branch bank
incident to the consolidation
approved
10/15
City Bank and Trust Company, Jackson, Michigan:
Appointment of Clifford R. Miller, II, as
assistant examiner for FRBank
of Chicago, approved, with understanding he not participate in
the examination of, where he owns
stock and his father is a member
of the executive staff, Board
feels that Mr. Miller should take
steps to dispose of State member
bank stock
8/30
Establishment of a branch in the vicinity
of the intersection of Brown St.,
Morrell Street, and Spring Arbor
Road, Summit Township, Jackson
County, Michigan, approved, sixmonth extension approved
10/29
CitY Trust Company, Bridgeport, Connecticut:
Establishment of a branch at the intersection of Connecticut Avenue,
Stratford Ave., and Florence St.,
Bridgeport, Conn., approved, sixmonth extension approved
1/17
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
170, 177
440, 454
1928, 1939
3462
4549, 4554
2989, 2996
3697, 3700
141, 160
1963
1054
Pages
State
member banks: (continued)
City Trust Company, Bridgeport, Conn.: (continued)
Establishment of a branch in a building to
be constructed immediately to the
west and adjoining the head office
building, approved, six-month
extension approved
Proposed merger of Stratford Trust Company,
Stratford, Connecticut, a noninsured bank, into, report to FDIC
on competitive factors, approved
Operation of branches by, at 2366 Main Street
and 3226 Main Street, Stratford,
Connecticut, provided proposed
merger of City Trust Company,
Bridgeport, Conn., and Stratford
Trust Company, Stratford, Conn.,
is approved and consummated
Clark State Bank, Clark, New Jersey, establishment of a branch at northeast
corner of intersection of Westfield Avenue and Lincoln Blvd.,
Clark, Union County, New Jersey,
approved, six-month extension
approved
Clearfield Trust Company, Clearfield, Pennsylvania,
establishment of a branch at Clearfield County Fairgrounds, Clearfield,
Pennsylvania, to be operated during period July 28 thru August 3,
1963, approved, and the establishment of a new branch at this location each succeeding year during
the time that the Clearfield
County Fair is open to the public,
approved
Cleveland Trust Company, Cleveland, Ohio:
Establishment of a branch (drive-in and
walk-up facility) at 27327 Wolf
Road, Bay Village, Ohio, approved,
six-month extension approved
Establishment of a branch at the northeast
corner of St. Clair Avenue and
East Ninth Street, approved, sixmonth extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/9
1168, 1188
10/14
3529
11/29
4140, 4145
8/19
2796, 2813
5/13
1537, 1555
1/17
141, 161
3/11
840, 864
1963
1055
Pages
State member
banks: (continued)
Cleveland Trust Company, Cleveland, Ohio: (continued)
Establishment of a branch in River Plaza
Shopping Center between Spencer
Road and River Oaks Drive north
of Center Ridge Road in Rocky
River, Ohio, approved, six-month
9/27
extension approved
Discussion re branch in Cuyahoga County,
which Cleveland Trust operates
under grandfather clause
9/27
Extension of time to establish a branch at
34 North Main Street, Chagrin
11/8
Falls, Ohio, approved
Clymer State Bank, Clymer, New York:
Application of Bank of Jamestown, New York,
1/10
to merge with, approved
1/14
Issuance of order and statement authorized
Coast Bank, Long Beach, California, establishment
of a branch at the southwest corner of Garden Grove Boulevard
and Huntington Beach Boulevard,
Garden Grove, California, approved,
branch operations now conducted
at 9836 Garden Grove Boulevard,
to be discontinued, six-month
extension approved
3/11
Commerce Bank and Trust Company, Helena, Montana,
granted permission to maintain
same reserves as are required to
be maintained by nonreserve city
5/23
banks
Commercial and Savings Bank of St. Clair, Michigan:
Application to consolidate with the Citizens
State Bank of Emmett, Michigan,
2/21
approved
statement
approvIssuance of order and
ing, authorized, operation of a
branch incident to the merger
approved
9/27
Commercial
Security Bank, Ogden, Utah, establishment of a branch on Harrison Blvd.,
in the vicinity of 36th Street,
Ogden, Utah, provided that the
branch operations now conducted
at 458 25th Street, Ogden, are
discontinued simultaneously with
the establishment of the new
branch, approved, six-month
10/24
extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3356, 3378
3356
3890, 3902
83
100, 115
840, 867
1727, 1750
666
698,709,711
3640, 3660
1963
1056
Pages
State
member banks: (continued)
Commercial Security Bank, Ogden, Utah: (continued)
Noted that it appeared under Utah state law
that no new branch could be established in the city of Ogden, unless the bank seeking to establish took over an existing bank,
Board confined its action to
authority under Federal law
Commonwealth Bank and Trust Company, Pittsburgh,
Pennsylvania, granted extension
of time within which to dispose
of shares of stock of other banks
acquired in the merger with Butler
Savings and Trust Company
Community Bank of Warsaw, Missouri:
Continuance of deposit insurance after withdrawal from FRSystem, advice to
FDIC
Six months' notice of withdrawal from membership in FRSystem waived
Connecticut Bank and Trust Company, Hartford,Conn:
Proposed merger of Union Bank and Trust Company, New London, Connecticut,
into, report to FDIC on competitive
factors approved
Operation of a branch at 61 State Street, New
London, Connecticut, approved provided proposed merger of The Union
Bank and Trust Company of New London, Connecticut, with, is approved and consummated
Continental Bank and Trust Company, Salt Lake
City, Utah:
Establishment of a branch in the vicinity
of 5th East and South Temple
Streets, approved, six-month
extension approved
Establishment of a branch in the vicinity
of 21st South Streets and 21st
or 23rd East Streets, Salt Lake
City, Utah, approved, six-month
extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/24
3641, 3660
4/8
1155, 1159
2/14
551, 560
2/14
551, 559
6/20
1993
6/24
2041, 2046
3/11
840, 866
8/9
2657, 2670
1963
1057
Pages
State
member banks: (continued)
Cortland Savings and Banking Company, Cortland,
Ohio, establishment of a branch
in the vicinity of the intersection of Old State Route 82 and
Valley View Road in an unincorporated area of Brookfield Township,
Trumbull County, Ohio, approved,
1/4
six-month extension approved
California:
County Bank of Santa Cruz,
Granted extension of time within which to
establish a branch in the vicinity of intersection of Front and
3/4
Cooper Streets, Santa Cruz, Calif.
vicinity
the
in
Establishment of a branch
of the intersection of Front and
Cooper Streets, Santa Cruz, Calif.,
8/27
approved
Jersey:
County Trust Company, Tenafly, New
Granted extension of time within which to
establish a branch at 2 West
Clinton Avenue, Tenafly, New
6/20
Jersey
vicinity
Establishment of a branch in the
of the intersection of Terrace
Street and Haworth Avenue, Haworth,
New Jersey, approved, six-month
7/16
extension approved
at
branch
a
Extension of time to establish
2 West Clinton Avenue, Tenafly,
12/17
New Jersey, approved
York:
New
County Trust Company, White Plains,
Establishment of a branch at 371-377 Mamaroneck Avenue, White Plains, New
York, approved, six-month exten1/24
sion approved
Deposit
Safe
Proposed merger of Gramatan
Corporation, Bronxville, New York,
and, report to FDIC on competitive
2/28
factors, approved
Gramatan
Ave.,
509
Establishment of a branch at
Mount Vernon, Westchester County,
N.Y., approved, provided branch
operations conducted at Broad and
Locust Streets, Mount Vernon, Westchester County, N.Y., are discontinued simultaneously, six-month
8/22
extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3, 15
758, 766
2919, 2939
1991, 2011
2288, 2312
4556, 4563
238, 251
717
2847, 2876
1963
1058
Pages
State
member banks: (continued)
County Trust Company, White Plains, New York: (continued)
Establishment of a branch bank in the Terminal Building of the Westchester
County Airport, Town of Rye, New
York, approved, six-month exten10/24
sion approved
Bank
National
First
Application to merge with
of Brewsters, Brewster, New York,
approved, discussion re shift of
employment of Assistant Cashier
Rayser of First National to County
Trust Company, no evidence that
change in employment was related
12/11
to bringing about merger
authostatement
and
order
of
Issuance
rized, operation of a branch at
the former office of First National Bank of Brewsters incident to
12/18
the merger, approved
establishWisconsin,
Cudahy Marine Bank, Cudahy,
ment of a branch in the vicinity
of the intersection of Layton and
Packard Streets, approved, six4/17
month extension approved
Pa:
Harrisburg,
Dauphin Deposit Trust Company,
Request for reconsideration and oral presentation re denied application to
merge with The First National
Bank of Mount Holly Springs, Pa.,
denied, with Governor Mills abstaining, advice to Mr. Snyder,
of Morgan, Lewis, & Bockius,
1/31
attorney for
suggesDue to proximity of location,
tion by Governor Mitchell for
an on-the-spot-study, consensus
that such a study might set a
precedent, general agreement
that suggestion should be borne
1/31
in mind for future use
Establishment of a branch at Second and Maclay Sts., approved, provided
branch operation at 543-545 Maclay
Street is discontinued simultaneously with the establishment of
the new branch, six-month exten5/22
sion approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3640, 3654
4323-4324
4413, 4442
1245
383, 406
387
1679, 1706
1963
1059
Pages
State member banks: (continued)
Davenport Bank and Trust Company, Davenport, Iowa,
additional investment in bank
premises approved
Depositors Trust Company, Augusta, Maine, establishment of a branch on Main
Street near junction of Routes
2, 8, and 139, Norridgewock,
Maine, approved, six-month extension approved
Detroit Bank and Trust Company, Detroit, Michigan:
Establishment of a branch at 27367 Schoolcraft Road, Redford Township,
Wayne County, Michigan, approved,
six-month extension approved
Establishment of a branch in the vicinity
of the intersection of Van Dyke
Road and Sixteen Mile Road,
Sterling Township, Macomb County,
Michigan, approved, six-month
extension approved
Establishment of a branch at 46 State Street,
Detroit, Michigan, concurrently
with relocation of its main office facilities to 201-211 West
Fort Street, approved, six-month
extension approved
Establishment of a branch in Unit 1659, B
Building, in Northland Center,
Southfield, Oakland County, Mich.,
approved, six-month extension
approved
Dexter Savings Bank, Dexter, Michigan, application of Ann Arbor Bank, Ann
Arbor, Michigan, to merge with,
approved
Issuance of order and statement authorized
subject to statement changes in
light of comments by Governors
Mills and Mitchell, office of The
Dexter Savings Bank to be operated
as a branch of Ann Arbor bank
Dvs_
uvo State Savings Bank, Dupo, Illinois, additional investment in bank premises, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/24
1315, 1326
8/16
2726, 2752
1/4
4, 17
2/15
572, 586
8/13
2701, 2709
9/6
3057, 3063
1/17
147
2/5
445,461-63
2/7
478, 493
1963
1060
Pages
State member banks: (continued)
Effingham State Bank, Effingham, Illinois:
No objection to the declaration of dividends
in 1961 and 1962, and the declaration of a dividend in June 1963
Declaration of a dividend to be made in the
fourth quarter of 1963, approved
Egg Harbor Bank and Trust Company, Egg Harbor City,
New Jersey, establishment of a
branch at northeast corner of
White Horse Pike (U.S. Route 30)
and Mays Landing-Port Republic
Road, Pomona, Galloway Township,
Atlantic County, New Jersey,
approved, six-month extension
approved
Elyria Savings & Trust Company, Elyria, Ohio:
Application to consolidate with Grafton
Savings and Banking Company,
Grafton, Ohio, approved
Issuance of order and statement authorized, operation of branches at
the two offices of Grafton Savings & Banking Company incident
to the consolidation, approved
Extension of time to establish a branch
on Cleveland-Elyria Road, North
Ridgeville, approved, providing
that branch operations at 7077
Avon-Belden Road, North Ridgeville,
are discontinued simultaneously
Exchange Bank of Luckey, Ohio, establishment of
a branch in the Village of Walbridge, Ohio, approved, sixmonth extension approved
Exchange Savings Bank, Mount Pleasant, Michigan,
establishment of an in-town
branch at southeast corner of
intersection of South Mission
Avenue and Preston Road, approved, six-month extension approved
Lawn-Radburn Trust Company, Fair Lawn, New
Jersey, establishment of a branch
at 21-17 Saddle River Road, Fair
Lawn, New Jersey, approved, sixmonth extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/22
11/15
1678, 1700
4006, 4012
11/1
3730, 3742
3/6
780
3/12
879,885,887
7/11
2254, 2264
1/4
3, 14
1/18
170, 181
8/16
2726, 2753
1963
1061
Pages
State
member banks: (continued)
Fall River Trust Company, Fall River, Massachusetts:
Penalties for deficiencies in reserves
waived
Establishment of a branch at 435 Wilbur Ave.,
Swansea, Massachusetts, approved,
six-month extension approved
Farmers Bank of Dinwiddie, Virginia:
Proposed merger with The Bank of Virginia,
Richmond, Virginia, issuance of
limited voting permit to Virginia
Commonwealth Corporation, Richmond,
Virginia, granting permission to
vote on proposed merger and advising that such permission gives no
indication of Board's views with
respect to
Application by Bank of Virginia, Richmond,
Virginia, to merge with, applicant's capital position and
manner in which Virginia Commonwealth ,Corporation proposes to
raise money for purchase of additional stock criticized, application approved with understanding re need for strengthening of
capital position
Issuance of order and statement reflecting the Board's approval of the
application of The Bank of Virginia,
Richmond, Virginia, to merge with,
authorized, transmittal letter
emphasizing need for strengthening
capital position, single office
of the Farmers Bank of Dinwiddie
to be operated as a branch
Farmers Bank of Nansemond, Suffolk, Virginia,
proposed merger into Seaboard
Citizens National Bank of Norfolk, Virginia, report to Comptroller of the Currency on competitive factors approved
Farmers Bank and Trust Company of Lancaster,
Pennsylvania, proposed consolidation of, and Lancaster County
National Bank, Lancaster, Pa.,
report to Comptroller of the
Currency on competitive factors
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/4
758, 764
5/22
1679, 1705
2/8
513
5/20
1643
5/24
1755, 1757-64
8/21
2832
10/23
3603
1963
1062
Pages
State member banks: (continued)
Farmers Exchange Bank, Abingdon, Virginia, proposed merger into Virginia National Bank, Norfolk, Virginia,
report to Comptroller of the
Currency on the competitive factors, approved
Farmers Loan and Trust Company, Tipton, Indiana,
investment in bank premises approved, for the purpose of acquiring property for use as a parking
lot, the amount to include the
indebtedness of its affiliate
which now owns the lot
Farmers & Merchants Bank, Aberdeen, South Dakota,
application for membership in
FRSystem approved
Farmers and Merchants Bank of Central California,
Lodi, California, establishment
of a branch in downtown business
district of Elk Grove, California,
approved, six-month extension
approved
Farmers & Merchants Bank of Craig County, New
Castle, Virginia, application
for membership in the FRSystem,
approved
Farmers and Merchants Bank, Forest, Mississippi,
establishment of a branch (drivein facility), approved, six-month
extension approved
Farmers and Merchants Bank of Hill City, Kansas,
permission granted to exercise
fiduciary powers
Farmers and Merchants Bank of Long Beach, Calif.,
subpoenas served on Vice President Galvin and Examiner Walker
of the FRBank of San Francisco,
ordering access to correspondence
and examination reports of, in
connection with possible illegal
banking transactions between the
member bank and Messrs. Riedman
and Chohon, agreed to Mr. O'Connell's suggestion to authorize
use of only specific information
relevant to the investigation,
Governor Mills dissenting
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/13
2701
2/28
717, 727
4/24
1315, 1327
5/13
1537, 1557
4/19
1261, 1282
4/26
1344, 1359
5/6
1476, 1490
5/20
1649
1963
1063
Pages
State
member banks: (continued)
Farmers and Merchants Bank of Long Beach, Calif.: (continued)
Assistant U.S. Attorney Murphy agreed to
issue a more specific subpoena,
telegram of instructions re response sent to FRBank of San
Francisco
5/20 1652, 1657
Farmers & Merchants Bank of Sebewaing Michigan,
Sebewaing, Michigan, establishment of a branch at 7253 Main
Street, Owendale, Michigan,
approved, six-month extension
approved
4/17 1245, 1253
Farmers and Merchants Bank, Williamsburg, Ohio,
proposal of Clermont National
Bank, Milford, Ohio, to acquire
assets and assume liabilities of
First National Bank of Batavia,
Ohio, and, report to Comptroller
of the Currency re competitive
factors approved
4/19 1263
Farmers & Merchants State Bank, Logansport, Indiana, establishment of a branch
at 611-621 West Market Street,
Logansport, Indiana, approved,
2998, 3011
six-month extension approved
9/3
Farmers and Merchants Trust Company of Chambersburg, Pennsylvania, establishment
of a branch at 1805 Lincoln Way
East, Guilford Township, Pennsylvania, approved, six-month exten12/18 4411, 4429
sion approved
Par
mers State Bank, Cleveland, Texas:
Continuance of deposit insurance after withdrawal from membership in FRSystem, bank urged to strengthen
capital stock position, advice
10/14 3527,3540
to FDIC
Six months notice of withdrawal from member11/8 3890, 3901
ship in FRSystem waived
Parrners State Bank of Fort Morgan, Colorado,
granted permission to exercise
3/29 1070, 1075
fiduciary powers
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1064
Pages
State member banks: (continued)
Federation Bank and Trust Company, New York, New
York
deficiency in reserves waived
for
Penalty
Granted permission to carry same reserves
as are required to be maintained
by nonreserve city banks
Beverly
Hills, California, estabFidelity Bank,
lishment of a branch on Venice
Boulevard between Wasatch and
Centinela Boulevards, Los Angeles,
California, approved, six-month
extension approved
Fidelity-Philadelphia Trust Company, Philadelphia,
Pennsylvania:
Establishment of a branch at 2831 West
Girard Avenue, and additional
investment in bank premises,
approved, six-month extension
approved
Investment in bank premises approved
Establishment of a branch at 1055 East Lancaster Avenue, Rosemont, Radnor
Township, Pennsylvania, and additional investment in bank premises, approved, six-month extension approved
Establishment of a branch at 38-44 East
Street Road, Feasterville, Lower
Southampton Township, Pennsylvania,
and additional investment in bank
premises, approved, six-month extension approved
Relocation of a branch from Lafayette Building at northeast corner of Fifth
and Chestnut Streets, to Rohm and
Haas Building at northwest corner
of Sixth and Ranstead Streets,
Philadelphia, approved, provided
existing operations at the Lafayette Building discontinued
simultaneously with opening of
other office, additional investment in bank premises approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/26
683, 686
5/23
1727, 1746
5/6
1477, 1498
3/11
4/26
840, 865
1343, 1354
5/13
1537, 1553
5/13
1537, 1554
7/16
2288, 2313
1963
1065
Pages
Stat
e member banks: (continued)
Fidelity-Philadelphia Trust Company, Philadelphia,
Pennsylvania: (continued)
Request by Governor Balderston re possibility
of obtaining permission for, to
invest in bank premises approved
for Wells Fargo Bank, San Francisco,
California, no such request yet
received from, matter could be discussed informally with FRBank of
Philadelphia
Additional investment in bank premises incident to establishment of a branch
in 4 Penn Center Plaza Building,
southwest corner of 16th Street
and Pennsylvania Boulevard, approved, six-month extension
approved
Application to merge with Liberty Real
Estate Bank and Trust Company,
Philadelphia, Pennsylvania,
approved, with Governors Mitchell
and Robertson dissenting
Statement of Governor Balderston's position
Question whether a condition that it
sell a bank office in the Olney
area to another commercial bank
should be imposed, consensus
that it should not
Issuance of order, statement, and dissenting statements by Governors
Robertson and Mitchell authorized,
operation of eleven branches at
offices of Liberty Real Estate
Bank and Trust Co., incident to
merger, approved
'delity State Bank, Topeka, Kansas, establishFi
ment of a branch at 901 Topeka
Boulevard, approved, six-month
extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/31
2511
8/2
2557, 2568
12/5
4234
12/5
4238
12/5
4243
12/12
4/17
4344,4355-72
1245, 1256
1963
1066
Pages
State
member banks: (continued)
Fifth Third Union Trust Company, Cincinnati, Ohio:
Establishment of a branch in the Kenwood
Plaza Shopping Center located at
the intersection of Kenwood and
Montgomery Roads in an unincorporated area known as Kenwood,
Hamilton County, Ohio, approved,
six-month extension approved
Application to purchase assets and assume
liabilities of Citizens Bank of
St. Bernard, Ohio, approved,
Governor Robertson dissenting
Issuance of order, statement, and
dissenting statement of Governor
Robertson, authorized, operation
of a branch at the office of
Citizens Bank incident to the
merger, approved
First Bank and Trust Company of South Bend,
Indiana, establishment of an intown branch in the vicinity of
the intersection of Portage Ave.
and King Street, South Bend,
Indiana, approved, six-month
extension approved
First Independent Bank, Vancouver, Washington,
granted permission, under provisions of condition of membership
numbered 1, to exercise fiduciary
powers
First Michigan Bank and Trust Company, Zeeland,
Michigan, establishment of a
branch in the vicinity of the
intersection of Woodbridge and
Clover Streets, Federal District,
Holland Township, Ottawa County,
Michigan, approved, it is noted
that the branch will be temporarily at 431 Woodbridge Street,
Federal District, Holland Township, Ottawa County, Michigan,
until quarters at permanent site
are ready, six-month extension
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/6
1477, 1493
7/26
2465
8/6
2574,2583-92
5/15
1577, 1591
9/30
3397, 3403
1963
1067
Pages
State
member banks: (continued)
First Pennsylvania Banking and Trust Company,
Philadelphia, Pennsylvania:
Establishment of a branch at 3020-3022 Market
Street, Philadelphia, Pennsylvania,
approved, six-month extension
approved
Establishment of a branch in a shopping
center on the south side of Oregon
Avenue between Third and Fifth
Streets, Philadelphia, approved,
six-month extension approved
Extension of time to establish a branch at
the southeast corner of Grant
Avenue and Roosevelt Boulevard,
approved
Establishment of a branch on south side of
Sumeytown Pike, about one-tenth
of a mile east of Broad Street,
Upper Gwyneed Township, Montgomery
County, Pennsylvania, approved,
six-month extension approved
First State Bank, Belmond, Iowa:
Six months' notice of withdrawal from membership in FRSystem waived
Continuance of deposit insurance after withdrawal from membership, advice
to FDIC
First State Bank of Bremond, Texas:
Continuance of deposit insurance after withdrawal from membership in FRSystem,
advice to FDIC
Six months' notice of withdrawal from membership waived
First State Bank, Buffalo, South Dakota, investment in bank premises noted,
since expenditure has already
been made, prior approval can
not be given, however, if request
had been made, approval would
have been granted
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/18
170, 179
3/22
986, 1000
8/8
2597, 2628
8/27
2919, 2937
12/12
4343,4352
12/18
4411,4435
2/7
478, 494
2/7
478, 495
12/2
4160, 4177
1963
1068
Pages
State
member banks: (continued)
First State Bank, Canisteo, New York:
Application to purchase the assets and assume
liabilities of the Greenwood branch
of Security Trust Company of
Rochester, New York, approved
Issuance of order and statement authorized, including the operation
of a branch at the present location of the Greenwood Branch of
Security Trust Company of Rochester
First State Bank of Hotchkiss, Colorado, permission granted under condition of
membership numbered 1, to act in
certain fiduciary capacities
First State Bank of Lynwood, California:
Continuance of deposit insurance after withdrawal from membership in FRSystem,
advice to FDIC
Six months' notice of withdrawal from membership in FRSystem waived
First State Bank of Oxford, Alabama, investment
in bank premises, approved, understood First State Corporation,
not yet organized, will be wholly
owned by, and that it will acquire
land presently held by the bank
and will construct a new building
thereon to be leased to, also
understood bank's investment in
First State Corporation will not
exceed $50,000
First State Bank, Fremont, Texas, (operations
suspended effective December 30,
1961) FRBank of Dallas examiner
subpoenaed to testify at a trial
of perjury charges against the
attorney for the officer of, following a trial of criminal charges
involving a disappearance of funds
from, no objection interposed by
Board
State Bank of Red Bud, Illinois, investment
in bank premises approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/31
391
2/8
510,524-26
3/22
986, 997
1/30
289, 304
4/19
1262, 1291
9/23
3268, 3287
4/19
1276
4/19
1261, 1286
1963
1069
Pages
Sta
te member banks: (continued)
First State Bank of Tonganoxie, Kansas, continuance
of deposit insurance after withdrawal from membership in the
FRSystem, advice to FDIC
First State Bank and Trust Company, Bryan, Texas,
investment in bank premises by,
to purchase building site, construct new banking quarters, and
purchase land for parking lot,
approved, with provision that
capital funds be increased and
proceeds from sale of present
quarters be added to capital
funds
First Trust Company, St. Joseph, Missouri, granted
permission to engage in a general
commercial banking business under
provisions of condition of membership numbered 1, with understanding re plans to move quarters from 4th and Felix Streets
to 3727 Frederick Boulevard,
St. Joseph, Missouri
First Trust and Deposit Company, Oriskany Falls,
New York, penalty for deficiency
in, waived
First Trust & Deposit Company, Syracuse, New York,
additional investment in bank
premises approved
Forest Hill State Bank, Forest Hill, Maryland,
establishment of a branch on State
Route 165 near junction with State
Route 23 in Jarrettsville, Maryland, approved, six-month extension approved
F
remont Bank and Trust Company, Fremont, Michigan,
investment in banking premises
approved
Fremont State Bank, Fremont, Michigan, no objection to the exercise of fiduciary
powers authorized by the bank's
charter and the laws of the State
of Michigan
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/14
98, 109
12/18
4411,4434
6/28
2134, 2140
8/12
2680, 2689
3/28
1047, 1056
6/20
1991, 2008
10/29
2/21
3698, 3702
665, 674
1963
1070
Pages
State
member banks: (continued)
Gary-Wheaton Bank, Wheaton, Illinois, Board notes
recent expenditure for investment
in bank premises, section 24A of
the FRAct requires State member
banks to obtain approval for investment in banking quarters, on
basis of information supplied,
Board would have granted such
approval, no objection made
Gaylord State Bank, Gaylord, Michigan, investment in new bank premises approved
Genesee Merchants Bank & Trust Co., Flint, Mich.:
Request from attorney for, for reports of
examination of Davison State Bank,
Davison, Michigan, (now merged into) for 1957-1962, for use in
connection with claims filed under
fidelity bond issued by America
Fore Loyalty Group for alleged
misapplication of funds at Davison
Bank, agreed furnishing of reports
would not be in the public interest, advice to the attorney and
the FRBank of Chicago
Establishment of a branch at southwest corner of intersection of Dort Highway, Dort Highway Extension, and
South Saginaw Road, Grand Blanc,
Michigan, approved, six-month
extension approved
Girard Trust Corn Exchange Bank, Philadelphia,Pa.:
Establishment of a branch at Red Lion and
Verree Roads, approved, six-month
extension approved
Establishment of a branch at 771 East Lancaster Avenue, Villanova, Radnor
Township, Pennsylvania, approved,
six-month extension approved
Establishment of a branch at 8616-18 Germantown Avenue, Philadelphia, Pa.,
approved, six-month extension
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/29
2952, 2968
8/2
2557, 2565
5/16
1597,1624-25
6/17
1928, 1938
3/22
986, 1001
5/13
1537, 1552
9/4
3018, 3037
1963
1071
Pages
'-ate member banks:
(continued)
Glasgow Savings Bank, Glasgow, Missouri:
Six months' notice of withdrawal from
membership in the FRSystem
waived
Continuance of deposit insurance after
withdrawal from membership in
FRSystem, advice to FDIC
Gotham Bank, New York, New York, proposed merger
into the Royal National Bank of
New York, New York, report to
Comptroller of the Currency on
competitive factors, approved
Grafton Savings and Banking Company, Grafton, Ohio:
Application by Elyria Savings and Trust Company, Elyria, Ohio, to consolidate
with, approved
Issuance of order and statement authorized
Grant County State Bank, Bayard, New Mexico,
establishment of a branch in vicinity of intersection of 12th and
Grant Streets, Silver City, N.M.,
approved, with understanding re
increase in capital funds thru
sale of new stock and that common
capital stock will be increased,
six-month extension approved
Hackensack Trust Company, Hackensack, New Jersey:
Application to merge with Bank of Bogota,
New Jersey, protests from two
persons re alleged unfairness of
proposal commented on, application approved, Governors Robertson and Mitchell dissenting
Issuance of order, statement, and dissenting statement of Governor
Robertson, with which Governor
Mitchell concurs, authorized,
operation of a branch at the office of the Bank of Bogota,
approved
Request for reconsideration of Board's
order and statement approving
merger of Bank of Bogota, New
Jersey, into, denied, reply to
Charles Ford
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/11
840, 860
3/20
960, 974
1/9
72
3/6
3/12
780
879,885-87
6/17
1929, 1940
1/17
141
1/30
293,367,376
2/13
537, 546
1963
1072
Pages
State member banks: (continued)
Hackensack Trust Company, Hackensack, New Jersey: (continued)
Establishment of a branch in Harrington
Park, Bergen County, New Jersey,
approved, with admonition to
strengthen capital position, Governor Robertson dissenting, six7/29 2492, 2507
month extension approved
Harris Trust and Savings Bank, Chicago, Illinois:
Appointment of Richard K. Pearson as assistant examiner approved not to
participate in examination of,
so long as his brother is employed
1/25 276, 280
by
as
assistant
Lang
M.
Appointment of Richard
examiner for FRBank of Chicago,
approved not to participate in
the examination of, as long as
his wife is employed by that
6/19 1977, 1989
institution
and
of,
Officer
Meeting with Hardin Hawes,
proponents of commercial bank
revenue bond financing, arrange7/19 2361
ments to be made
the
of
Comptroller
Copy of letter to
Currency by, discussed prior to
7/24 2406
afternoon meeting
and
Leach
Hawes,
Perkins,
Messrs.
Pfeffer, representatives of Harris Trust and Savings Bank of
Chicago, Continental Illinois
National Bank, Chicago, Morgan
Guaranty Trust Company, New York,
and First National City Bank,
New York, met with Board to present
views in favor of S. 828, a bill
to grant national and State member banks limited authority to
7/24 2421
underwrite revenue bonds
Vice
PresiSprinkel,
Study made by Beryl W.
dent of, entitled Relative Economic Growth Rates and Fiscal-Monetary Policies, evaluation of study
requested by Senator Proxmire,
agreement that each Board member
could reply to Senator Proxmire's
letter, but that a draft reply
would be prepared for Board
7/25 2443
consideration
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1073
Pages
State
member banks: (continued)
Harvard Trust Company, Cambridge, Massachusetts:
Establishment of a branch at Main and Portland Streets (575 Technology
Square), Cambridge, Massachusetts,
approved, six-month extension
approved
Question whether Insurance Agent Auto Finance
Plan, Inc., and Insurance Agent
Auto Finance Trust were affiliates
of, a subsidiary of Baystate Corporation, advice to FRBank of
Boston
Hawthorne Bank of Wheaton, Illinois, permission
granted to exercise fiduciary
powers
Hazelton State Bank, Hazelton, Idaho, proposal of
Fidelity National Bank of Twin
Falls, Idaho, to acquire assets
and assume liabilities of, report
to Comptroller of the Currency on
competitive factors, approved
Heights State Bank, Houston, Texas, investment in
bank premises made without Board's
approval noted, no objection to
the expenditures made, consideration re augmenting capital account
urged
Hermann Bank, Hermann, Missouri:
Additional investment in bank premises approved
Declaration of dividends in 1961 and 1962,
no objection by Board
Declaration of dividend to be made on
December 17, 1963, approved
Hightstown Trust Company, East Windsor Township,
New Jersey, establishment of a
branch at 114 Main Street, Hightstown, concurrent with removal of
head office to location in vicinity of intersection of HightstownPrinceton Road, and U.S. Route
130 in East Windsor Township, and
abandonment of branch operations
at that location, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/13
1537, 1549
9/27
3358, 3383
5/6
1476, 1489
9/16
3162
4/19
1262, 1290
1/18
170, 178
1/24
238, 247
11/15
4006,4011
6/19
1972, 1978
1963
1074
Pages
State member banks: (continued)
Holstein State Bank, Holstein, Iowa, establishment of a branch at Cushing, Iowa,
approved, six-month extension
approved
Home State Bank, Horton, Kansas, proposed purchase of assets and assumption
of liabilities of, by Bank of
Horton, Kansas, report to FDIC
on competitive factors, approved
Industrial State Bank of Kalamazoo, Michigan:
Establishment of a branch at 136-148 Front
Street, Mattawan, Michigan, approved, six-month extension
approved
Establishment of a branch on West Michigan
Avenue between Woodlawn and
Marion Streets, Kalamazoo, Mich.,
approved, Governor Mitchell dissenting, six-month extension
approved
Establishment of an in-town branch on Sprinkle
Road between Kilgore Road and Interstate Highway 94, approved,
Governor Mitchell abstained from
voting until he had reviewed the
record, the Secretary was later
advised re his dissent, six-month
extension approved
Establishment of an in-town branch at 1216
South Burdick Street, Kalamazoo,
Michigan, approved, six-month
extension approved
Establishment of a branch at 5024 North
Riverview Drive, Cooper Township,
Kalamazoo County, Michigan, approved, six-month extension
approved
In tercounty Trust Company, Monticello, New York,
issuance of order and statement
approving the merger of Sullivan
County Trust Company, Monticello,
New York, and The National Bank
and Trust Company of Port Jervis,
New York, under title of, operation of a branch incident to the
merger, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/3
2186, 2199
8/9
2659
1/18
170, 180
3/29
1070, 1076
5/3
1444, 1454
10/25
3670,3683
12/18
4411, 4432
3/22
988, 1009
1963
1075
Pages
State member banks: (continued)
Isabella County State Bank, Mount Pleasant, Mich.,
establishment of a branch at 202
South College Street, approved
with the understanding that a proposed capital stock program would
be consummated, six-month extension approved
Jasper County Savings Bank, Newton, Iowa, establishment of a branch in Newton
Shopping Center at southwest corner of intersection of First
Avenue East and East 17th St.,
approved, six-month extension
approved
Kane Bank and Trust Company, Kane, Pennsylvania,
proposed purchase of assets and
assumption of liabilities of, by
Hamlin Bank and Trust Company,
Smethport, Pennsylvania, report
to FDIC on competitive factors
approved
Lafayette Trust Company, Easton, Pennsylvania,
establishment of a branch on
northside of William Penn Highway between Beech and Arlington
Streets, Palmer Township, Northampton County, Pennsylvania, and
investment in bank premises
approved, six-month extension
approved
Lewis County Bank, Lowville, New York, appointment of Mr. Leonard F. Hoffman,
FRBank of New York, as assistant
examiner, approved, with the understanding that he will dispose of
his seven shares of stock in
Liberty
County Bank, Chester, Montana:
Issuance of limited voting permit to Bancorporation of Montana to vote stock
of, authorized
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/1
2526, 2539
2/7
478, 497
5/10
1532
8/21
2832, 2841
10/21
1/25
3601
269, 279
1963
1076
Pages
State member banks: (continued)
Liberty County Bank, Chester, Montana: (continued)
Board deems it inappropriate to authorize a
voting permit to Bancorporation
of Montana, with respect to shares
of, because of condition of, and
other subsidiaries of Bancorporation, Board to consider issuance
of limited voting permits as
needed, no objection by FRBank of
Minneapolis
Issuance of a limited voting permit to Bancorporation of Montana, Great
Falls, Montana, to vote the
stock of Citizens Bank of Montana,
Havre, Central Bank of Montana,
Great Falls, and, authorized
Liberty State Bank, Hamtramck, Michigan, permission granted under condition of
membership numbered 1, to exercise fiduciary powers
Lock Haven Trust Company, Lock Haven, Pennsylvania,
application to merge with The Mill
Hall State Bank, Mill Hall, Pa.,
approved
Issuance of order and statement authorized,
including approval of operation
of a branch at office of Mill
Hall State Bank
Long Branch Trust Company, Long Branch, New Jersey,
proposed consolidation of Monmouth
County National Bank, Red Bank,
New Jersey, and, report to Comptroller of the Currency on the
competitive factors, approved
Long Island Trust Company, Garden City, New York:
Establishment of a branch on west side of
Broad Hollow Road, Babylon Township, New York, approved, sixmonth extension approved
Establishment of a branch at the southeast
corner of Jericho Turnpike and
Woodland Gate, Town of Oyster Bay,
Nassau County, New York, approved,
with study of bank's capital position urged, six-month extension
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/3
3435, 3438
12/27
4556,4561
3/7
821, 829
1/10
82
1/17
141,162-64
9/6
3060
1/24
238, 252
6/7
1840, 1850
1963
1077
Pages
tate member banks: (continued)
Long Island Trust Company, Garden City, N.Y.: (continued)
Establishment of a branch at 57-65 Hilton
Avenue, Garden City, New York,
for purpose of conducting activities of its instalment loan department, approved, six-month
8/2
extension approved
Lorain County Savings and Trust Company, Elyria,
Ohio:
Application to merge with Central Bank Company, Lorain, Ohio, denied by
majority vote, Governor Shepardson
and Balderston dissenting, consensus that no oral presentation should
12/11
be ordered
Suggestion by Governor Mitchell that in
light of close vote, application
should be considered by full
Board, views expressed re possibility of requiring four votes,
Governor Mitchell withdrew sug12/18
gestion
Issuance of order and statement denying,
and dissenting statement of Governor Shepardson in which Governor
Balderston concurred, authorized,
operation of seven offices of
Central Bank Company incident to
12/23
merger, noted in order denying
, Trust Company, Louisville, Kentucky:
•
Loulsville
Establishment of a branch at 4020 Taylorsville Road, approved, six-month
2/8
extension approved
Establishment of a branch at 3501 Taylor
Boulevard, approved, six-month
2/8
extension approved
Manistee County Savings Bank, Manistee, Michigan,
permission granted to exercise
5/6
fiduciary powers
Manteno
State Bank, Manteno, Illinois, no objection by Board to recent expendi4/9
ture on bank premises
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2557, 2567
4326
4424
4497,4513-22
509, 514
509, 515
1476, 1488
1168, 1184
1963
1078
Pages
State
member banks: (continued)
Manufacturers Hanover Trust Company, New York, N.Y.:
Establishment of a branch at 799 Broadway,
Borough of Manhattan, New York,
approved, six-month extension
approved
Granted extension of time within which to
establish a branch at 41-01
Kissena Boulevard, Flushing, New
York, New York
Further extension approved
Extension of time granted to establish a
branch at 5664 Riverdale Avenue,
Riverdale, Borough of the Bronx,
New York, New York
Report on visit by Justice Department representatives, re pending litigation
on the approved merger of Manufacturers Trust Company and The
Hanover Bank under the title of,
and possibility of Board assistance in working out a settlement of the Justice Department
suit
Further report by Mr. Solomon re
Establishment of a branch at 510 Third Ave
Borough of Manhattan, New York,
approved, six-month extension
approved
Manufacturers and Traders Trust Company, Buffalo,
New York:
Operation of a temporary branch at 762 Main
Street, approved until full operations at 715 Main Street may be
resumed
Establishment of a branch at 2067-2071 Union
Road, Town of West Seneca (unincorporated area), Erie County,
New York, approved, six-month
extension approved
Marine Midland Trust Company of New York, N.Y.:
Establishment of a branch at 555 Madison Ave.,
Borough of Manhattan, New York,
New York, approved, six-month
extension approved
Establishment of a branch at 777 Third Ave.,
Borough of Manhattan, New York,
New York, approved, six-month
extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/22
206, 222
1/24
4/19
237, 244
1261,1279
2/5
440, 450
7/17
7/18
2333
2341
7/26
2454, 2474
6/7
1840, 1851
9/30
3397, 3401
1/4
3, 13
9/24
3298, 3307
1963
1079
Pages
State member banks: (continued)
Marine Trust Company of Western New York, Buffalo,
New York:
Establishment and operation of a branch at
238 Main Street, approved
Establishment of a limited facility branch
at the southeast corner of Main
and Court Streets, Batavia, New
York, approved, six-month extension approved
Establishment of a branch approximately 100
feet north of junction of Orchard
Park Road and Union Road, Town of
Orchard Park (unincorporated area),
Erie County, New York, approved,
six-month extension approved
Massena Banking and Trust Company, Massena, New
York, proposed merger into Watertown National Bank, Watertown,
New York, report to Comptroller
of the Currency on competitive
factors approved
McIlroy Bank, Fayetteville, Arkansas, Industrial
Finance Company, Fayetteville,
Arkansas, determined not to be a
holding company affiliate of, except for purposes of section 23A
of the FRAct
Mercantile Trust Company, St. Louis, Missouri:
Plans to acquire thru its wholly-owned subsidiary (Mississippi Valley Co.)
the Mercantile Mortgage Company,
informal advice given FRBank of
St. Louis by representatives of,
Mr. Shuford to be requested to
furnish Board with additional
information
Indication of serious legal questions
with respect to, agreed with Mr.
Hexter's memorandum that the proposed transactions be given further study by the Reserve Bank
and the Board's staff
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/1
732, 742
10/25
3670,3681
11/29
4140,4151
7/1
2164
11/6
3822, 3830
5/27
1773
6/11
1885
1963
1080
Pages
Sta te
member banks: (continued)
Mercantile Trust Company, St. Louis, Mo.: (continued)
Plans to acquire Mercantile Mortgage Co.: (continued)
Considered in violation of section 9,
FRAct and section 5155, Revised
Statutes, advice to, meeting
with President Shuford and repre6/20
sentatives of, reported by staff
Further discussion re violations of
section 9, FRAct and section
5136, Revised Statutes, plan by
Mississippi Valley Co., to continue operation of offices of
Mercantile Mortgage Co., where
mortgage loans were made, advice
to be received from, following
7/1
review of operations
Letter to, requesting information re
steps taken to correct its opera
tions re violations of section 9,
FRAct and section 5155, Revised
7/26
Statutes
Additional information requested, also
letter to FRBank of St. Louis,
stating Bank may obtain information along lines described in
August 23 memorandum from Bank's
9/9
Counsel
Stock of Ozark Plaza Motor Hotel, Inc.,
acquired through foreclosure pro
ceedings, not considered as a
prohibited purchase of corporate
stock under section 5136 of the
Revised Statutes and section 9
6/21
of the FRAct
Me rchants & Farmers Bank, Columbus, Mississippi,
establishment of a branch at 116
13th Street, North Columbus, approved, six-month extension
4/12
approved
Merchants
and Farmers Bank, Portsmouth, Virginia,
investment in bank premises, approved, representing an investment in its affiliate, a loan to
the affiliate for the purpose of
2/28
constructing branch quarters
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1996, 2022
2168
2455, 2479
3073,3086,3087
2028, 2036
1199, 1214
717, 726
1963
1081
Pages
State member banks
(continued)
Merchants and Farmers Bank, Smithfield, Virginia,
letter interposing no objection
to the retention of ownership of
formerly occupied bank premises
for a period expiring June 18,
1963, approved
Merchants and Planters Bank, Camden, Arkansas,
investment in bank premises approved
Merchants Trust & Savings Bank, Kenner, Louisiana:
Six-months' notice of withdrawal from membership in FRSystem waived
Continuance of deposit insurance after withdrawal from membership, advice
to FDIC calling attention to
capital needs of
Middle Tennessee Bank, Columbia, Tennessee, further extension of time to establish a branch in the Columbia
Plaza Shopping Center on West
7th Street, denied
Miles City Bank, Miles City, Montana, granted
permission, under provisions of
condition of membership numbered
1, to exercise fiduciary powers
Mogadore
Savings Bank, Mogadore, Ohio, proposed
merger into First National Bank
of Arkon, Ohio, report to Comptroller of the Currency on competitive factors approved
Morgan Guaranty Trust Company, New York, N.Y.:
Repurchase arrangements in transactions between dealers in municipal securities and, question re reporting
such transactions as loans or investments in securities in reports
of condition and reports of examination, advice to FRBank of New
York
Ralph F. Leach, Senior Vice President and
Treasurer, with representatives
from 3 other banks, met with
Board to present views in favor
of S. 828, a bill to grant national and State member banks
limited authority to underwrite
revenue bonds
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/22
206, 218
6/20
1991, 2012
6/19
1972, 1979
8/16
2726, 2748
1/4
3, 9
1/4
3, 10
10/4
3436
4/2
1114, 1133
7/24
2420
1963
1082
Pages
State
member banks: (continued)
Morgan Guaranty Trust Company, New York, N.Y.: (continued)
Question re authority of State member banks
to underwrite securities issued
by States and political subdivisions, with particular reference
to securities issued by State of
Washington, conflict of opinion
and ruling by Comptroller of the
Currency discussed, Board letter
to, concluded that Washington
State bonds were not eligible
for underwriting by State member
banks within purview of section
5136 of Revised Statutes, advice
9/4
to all FRBanks
Mound City Trust Company, St. Louis, Missouri:
Six-months' notice of withdrawal from mem7/26
bership in FRSystem
after
withinsurance
Continuance of deposit
drawal from membership, advice
8/1
to FDIC
Muscatine,
Iowa:
Company,
Muscatine Bank and Trust
Declaration of a dividend declared in June
1963, approved, extent of dividend
payments, without request for
Board approval, noted by Governor
Mills, Examination Division to
6/10
follow operation of bank carefully
in
made
Dec.
be
to
Declaration of dividends
11/18
1963, approved
Mutual Trust and Deposit Company, New Albany,
Indiana, establishment of a "TV
branch" across a public alley
at the rear of the head office
banking quarters approved, six11/14
month extension approved
Nassau Trust Company, Glen Cove, New York, establishment of a branch at 198A Glen
Cove Avenue, Glen Cove, New York,
approved, six-month extension
11/7
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3020, 3048
2454, 2472
2526, 2540
1857, 1866
4016,4029
3947, 3957
3877, 3880
1963
1083
Pages
tate member banks: (continued)
Nevada Bank of Commerce, Reno, Nevada:
First Western Financial Corporation, Las
Vegas, Nevada, determined not to
be a holding company affiliate
of, except for purposes of section 23A of the FRAct
Establishment of a branch in downtown business district of Las Vegas, Nev.,
approved, six-month extension
approved
New Jersey Bank and Trust Company, Clifton, New
Jersey, extension of time to
comply with membership condition
numbered 3, indicating disposal
of all corporate stocks owned at
the time of admission to membership
New Jersey Trust Company, Asbury Park, New Jersey:
Application to establish a branch in the
Borough of Oceanport, Monmouth
County, New Jersey, question re
priority in date of filing in
connection with application filed
by First Merchants National Bank,
Asbury Park, New Jersey, understood that action would be deferred pending receipt of additional
information
Further discussion, application approved
six-month extension approved
Newark Trust Company, Newark, Ohio, establishment
of a branch in the vicinity of
the intersection of State Routes
16 and 310 in Lima Township,
Licking County, Ohio, approved,
with understanding that bank's
capital stock will be increased
sufficiently to permit establishment of the branch under State
law, six-month extension approved
Nor..
talk County Trust Company, Brookline, Mass.:
Establishment of a branch at 2 South Main
Street, Bellingham, Mass., approved, six-month extension
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/18
12/18
7/8
3213, 3239
4411,4430
2204, 2210
10/21
3587
10/24
3642, 3664
9/30
3397, 3402
1/22
206, 221
1963
1084
Pages
State member
banks: (continued)
Norfolk County Trust Company, Brookline, Mass.: (continued)
Application to consolidate with Wellesley
Trust Company, Wellesley, Mass.,
reference to ownership of stock
of, by Baystate Corporation,
application approved, Governor
Robertson dissenting
4/9
1176
Additional information re relationship
between Baystate Corporation and
First National Bank of Boston
presented, decision to reverse
vote indicated by Governor Mitchell,
vote retaken and application approved, Governors Robertson and
4/12 1200
Mitchell dissenting
Issuance of order, statement, and dissenting statement of Governor
Robertson, in which Governor
Mitchell concurred, authorized,
operation of the two offices of
Wellesley Trust Company, Wellesley, Massachusetts, as branches
4/19 1262,1297,1305
of, approved
North Fork Bank and Trust Company, Mattituck,
New York, operation on a yearround basis of the seasonal branch
on south side of Route 25, east
of intersection of Washington
Avenue, Riverhead, New York,
5/13 1537, 1551
approved
North Jersey Trust Company, Ridgewood, New Jersey,
establishment of a branch at 15
West Ridgewood Avenue, Ridgewood,
New Jersey, approved, six-month
8/29 2951, 2967
extension approved
Northeastern Banking Company, Commerce, Georgia,
establishment of a branch (drivein facility) at 17 Little Street,
Commerce, Georgia, approved, six8/21 2832, 2842
month extension approved
No
rthern Central Bank and Trust Company, Williamsport, Pennsylvania, application
of West Branch Bank and Trust Company, Williamsport, Pa., to merge
with Bank of Newberry, Williamsport, Pa., under title of, approved, Governor Robertson dis10/14 3530
senting
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1085
Pages
State member banks: (continued)
Northern Central Bank and Trust Company, Williamsport,
Pennsylvania: (continued)
Issuance of order, statement, and dissenting
statement authorized, operation
of a branch incident to the merger,
approved
10/23 3607,3629-36
Northwestern State Bank, Chippewa Falls, Wisconsin,
application for membership in the
FRSystem, approved, operation of
the present branches at Cornell
Station, Cornell, Wisconsin, and
a drive-in facility located one
block east of the main office,
1/9
64, 77
approved
Oberlin Savings Bank Company, Oberlin, Ohio,
question re compliance under section 217.6 of Regulation Q,re
terms of a time certificate of
deposit as used by, advice to
4/19 1261, 1280
FRBank of Cleveland
Old Kent Bank and Trust Company, Grand Rapids,
Michigan:
Establishment of an in-town branch on Lake
Michigan Drive, in vicinity of
intersection with Covell and
Bridge Streets, Grand Rapids,
Michigan, approved, six-month
5/13 1537, 1556
extension approved
Proposed consolidation with Community State
Bank, Grandville, Michigan, request by Mr. Slay, Commissioner
of Banking for the State of
Michigan, for certain competitive factor reports submitted
to Board, agreed to furnish, if
originating agencies had no objections, Governor Mills dissent11/14 3952, 4003
ing
Application of, to consolidate with Community
State Bank, Grandville, Michigan,
12/18 4413
approved
statement
authorized,
Issuance of order and
operation of two branches incident
12/24 4527,4534-36
to the consolidation, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1086
Pages
State member
banks: (continued)
Oregon Bank, Portland, Oregon, establishment of a
branch bank in the vicinity of the
intersection of Grape Street and
West Main Street, Medford, Oregon,
approved, six-month extension
approved
Hawthorne, California, investBank,
Pacific State
ment in bank premises approved
Pan American Bank of Miami, Florida, request by
Justice Department for access to
certain examination reports and
correspondence including certain
confidential sections re, agreed
to provide under custody of FDIC
Examiner Lindsey, with certain
stipulations suggested by Governor Robertson re confidential
sections, Governor Mills dissenting
Pascagoula-Moss Point Bank, Moss Point, Mississippi,
establishment of a branch on Highway 90 in the eastern corporate
limits of Pascagoula, approved with
understanding re reappraisal of
capital stock, six-month extension
approved
Patchogue Bank, Patchogue, New York, establishment
of a branch at 2945 Sunrise Highway, Islip Terrace, Town of Islip,
Suffolk County, New York, approved,
six-month extension approved
Peninsula Bank and Trust Company, Williamsburg,
Virginia, investment in bank premises by, for purpose of constructing an addition to its branch building at 120 Monticello Avenue,
Williamsburg, Virginia, approved
Peoples Bank of Glen Rock, Pennsylvania:
Application to merge with Codorus National
Bank in Jefferson, Codorus, Pa.,
approved
Issuance of order and statement authorized, office of Codorus National
Bank in Jefferson to be operated
as a branch of
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/24
3640,3661
6/26
2073, 2115
9/24
3301,3306-17
5/22
1679, 1707
6/21
2028, 2034
12/2
4160, 4176
2/6
471
2/8
510,518,520
1963
1087
Pages
State member banks: (continued)
Peoples Bank, Mount Jackson, Virginia:
Issuance of limited voting permit to First
Virginia Corporation, Arlington,
Virginia, to vote the stock of
Richmond National Bank and Trust
Company, Richmond, Virginia,
Shenandoah County Bank and Trust
Company, Woodstock, Virginia, and,
authorized
Telegram to FRAgent at Richmond authorizing
issuance of a general voting permit to First Virginia Corporation,
Arlington, Virginia, to vote
stock of
Peoples Bank and Trust Company, Cedar Rapids,
Iowa, establishment of a branch
(Parking Lot Office) in May's
City Shopping Center at soutwest
corner of Highway 149 West, Cedar
Rapids, Iowa, approved, six-month
extension approved
Peoples Bank and Trust Company, Grand Haven,
Michigan, establishment of an intown branch at 1000-1013 Robbins
Road, Grand Haven, Michigan,
approved, six-month extension
approved
Peoples Bank & Trust Company, Montgomery, Alabama,
establishment of a branch in
Forest Hills Shopping Center on
the Atlanta Highway, within City
limits of Montgomery, approved,
six-month extension approved
Peoples Banking Company, McComb, Ohio:
Continuance of deposit insurance after withdrawal from membership in FRSystem, advice to FDIC
Six months' notice of withdrawal from membership in FRSystem, waived
time to withdraw from membership
of
Extension
in FRSystem approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/4
4, 22
9/16
3161, 3169
3/20
960, 981
5/15
1577,1592
8/19
2796, 2816
2/28
717, 725
4/8
1156, 1160
11/13
3916,3934
1963
1088
Pages
State member banks: (continued)
Peoples Savings Bank, Laurel, Iowa, application
for permission to acquire the
assets and assume the liabilities
of, by Security Savings Bank,
Marshalltown, Iowa, approved,
discussion re Iowa State law with
respect to branch banking
Peoples Savings Bank, New Knoxville, Ohio, granted
extension of time within which to
withdraw from membership in
FRSystem
Peoples State Bank, Artesia, New Mexico, investment in bank premises approved
Peoples State Bank of Bloomingdale, Michigan,
application of Bank of South
Haven, Michigan, to consolidate
with, under the title of Citizens
Trust and Savings Bank, South
Haven, Michigan, approved
Issuance of order and statement authorized
Peoples State Bank of Maplewood, Maplewood, Missouri,
investment in bank premises,
approved
Peoples State Bank of Rural Retreat, Virginia,
proposed consolidation of Wythe
County National Bank of Wytheville,
Virginia, and, report to the Comptroller of the Currency on the
competitive factors, approved
Peoples Trust Company of Bergen County, Hackensack,
New Jersey:
Application to merge with First National Bank
of Wyckoff, New Jersey, approved,
Governor Robertson dissenting
Issuance of order, statement and dissenting statement authorized, operation
of a branch at the office of the
First National Bank of Wyckoff,
approved
Establishment of a branch in the vicinity of
the intersection of Broadway and
Livingston Streets, Norwood, Bergen
County, New Jersey, approved, sixmonth extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/30
3707
2/7
478, 492
7/12
2274, 2284
10/8 3462
10/15 3549, 3554
1/22
10/25
206, 219
3670
2/7
485
2/15
573,591-99
9/27
3356, 3382
1963
1089
Pages
State member banks: (continued)
Peoples Trust Company of Bergen County,
Hackensack, New Jersey: (continued)
Application to merge with Palisades Trust
Company, Englewood, New Jersey,
approved, with understanding
approval would not be made contingent on an increase of applicant's capital although desirability of augmenting capital would
be set forth in transmittal letter
to applicant bank, Governors Robertson and Mitchell dissenting
Issuance of order and statement authorized, Board emphasizes need to
strengthen capital position,
operation of three branches incident to merger, approved
Peoples Trust & Savings Bank, Green Bay, Wisconsin:
Establishment of an in-town branch in the
vicinity of the intersection of
Washington and Walnut Streets
approved, six-month extension
approved
Six months' notice of withdrawal from membership in FRSystem, waived
Pinconning State Bank, Pinconning, Michigan:
Proposed merger into Peoples National Bank
& Trust Company of Bay City,
Michigan, report to Comptroller
of the Currency on competitive
factors approved
Letter to FRBank of Chicago, re retirement
of preferred stock issued by, in
connection with the proposed
merger into Peoples National Bank
and Trust Company of Bay City,
neither permission of FRBank nor
Board of Governors seem necessary
or appropriate in this instance
since another Federal agency is
authorized to approve the merger
Planters Bank and Trust Company, Hopkinsville,
Kentucky, establishment of a
branch (a conversion of its existing facility) within the military
reservation at Fort Campbell,
Kentucky, approved, six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/10
3505
10/23
3607, 3620-28
4/17
1245, 1254
11/14
3947, 3962
11/26
4096
12/16
4376,4389
5/17
1632, 1637
1963
1090
Pages
State member banks: (continued)
Prairie State Bank, Augusta, Kansas, declaration
of a dividend to be made in 1963,
approved
Princeton Bank and Trust Company, Princeton Township, New Jersey, establishment
of a branch at southeast corner
of intersection of U.S. Route
206 and Mt. Rose Hill Road (also
known as Cherry Valley Road),
Princeton Township, New Jersey,
approved, six-month extension
approved
Provident Bank, Cincinnati, Ohio:
Investment in bank premises approved
Establishment of a branch at the southeast
corner of Vine and Seventh Streets,
Cincinnati, Ohio, coincident with
the relocation of the main office
from that location to the southeast
corner of Vine and Fourth Streets,
Cincinnati, Ohio, approved, sixmonth extension approved
Provident Tradesmens Bank and Trust Company,
Philadelphia, Pennsylvania:
Extension of time to establish a branch in
the Garrett Road Shopping Center,
Garrett Road near Sherbrook Blvd.,
Upper Darby Township, Delaware
County, Pennsylvania, approved
Establishment of a branch at intersection of
Marshall Street and Carwithan
Street, Philadelphia, Pennsylvania,
approved, six-month extension
approved
Letter granting permission to organize Provident Tradesmens International Corporation, Philadelphia, Pennsylvania, under section 25(a) of the
FRAct, approved, preliminary permit transmitted to
Final permit to commence business transmitted by letter
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/9
12/29
2/8
12/27
4246, 4267
4140, 4153
509, 512
4557, 4565
7/12
2274, 2281
8/19
2796, 2814
10/25
3669,3677-78
11/18
4028
1963
1091
Pages
tate member banks: (continued)
Raleigh County Bank, Beckley, West Virginia, investment in bank premises approved,
attention called to fact that
Board's permission was not obtained
prior to consummating certain previous transactions with bank's
subsidiary building corporation,
Raleigh County Bank Investment
Corporation
Rapides Bank & Trust Company, Alexandria, Louisiana,
consideration given to complaint
by Mr. Bolton, Chairman of, re
inadequacies of Regulation Q in
relation to absorption of exchange
charges, reply indicating hope
that review of Regulation Q would
result in action before the end
of the year, approved
Rhode Island Hospital Trust Company, Providence,
Rhode Island:
Establishment of a branch at 60 Newport
Avenue, East Providence, R.I.,
approved, six-month extension
approved
Establishment of a branch at intersection
of Mendon and Albion Roads,
Cumberland, Rhode Island, approved,
six-month extension approved
Establishment of a branch in new shopping
center on West Main Road, Middletown, Rhode Island, approved, sixmonth extension approved
Establishment of a branch on North Main
Street in the Lippitt Hill section of Providence, Rhode Island,
approved, six-month extension
approved
Riceville State Bank, Riceville, Iowa, permission
granted to act in specific fiduciary capacities
Richland Trust Company, Mansfield, Ohio, permission refused to carry investment
in bank premises in an amount in
excess of bank's capital stock,
no corrective action by Board in
view of satisfactory condition
of bank
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/18
3212, 3234
6/26
2073, 2118
4/26
1343, 1355
4/26
1343, 1356
6/20
1991, 2007
7/11
2253, 2263
3/8
834, 835
8/19
2796, 2815
1963
1092
Pages
State member banks: (continued)
Ridgefield Park Trust Company, Ridgefield Park,
New Jersey, investment in bank
8/8
premises approved
Rio Grande County Bank, Del Norte, Colorado,
no objection to the declaration
of dividends paid June 30, 1962,
5/22
and December 31, 1962
,
inIndiana
Sun,
Rising Sun State Bank, Rising
4/26
vestment in bank premises approved
icut:
Connect
d,
,
Hartfor
Riverside Trust Company
Establishment of a branch at 90 Pearl St.,
Hartford, present location of
main office, simultaneously with
the closing of a trust department branch at 111 Pearl Street,
6/28
Hartford, approved
Trust
the
operate
to
on
Granted permissi
Branch at 111 Pearl Street for
one month after the opening of
8/12
the branch at 90 Pearl Street
:
Illinois
er,
Rochest
Bank,
State
Rochester
Six months' notice of withdrawal from mem4/3
bership in FRSystem waived
after
withe
insuranc
deposit
of
Continuance
drawal from membership in FRSystem,
4/26
advice to FDIC
a:
Nebrask
r,
Scribne
Scribner Bank,
Six months' notice of withdrawal from mem10/24
bership in FRSystem waived
Continuance of deposit insurance after withdrawal from membership, advice
11/4
to FDIC
Seattle Trust and Savings Bank, Seattle, Washington:
Investment in bank premises approved with
plans to provide additional capital funds during the latter part
6/7
of 1963, noted
Establishment of a branch in the vicinity of
the intersection of 175th Street
and Aurora Avenue, Seattle, Wash.,
approved, six-month extension
9/18
approved
hestablis
n,
Michiga
Park,
Lincoln
Bank,
Security
ment of a branch in the vicinity
of the intersection of Dix Road
and Old Goddard Road, approved,
2/15
six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2597, 2627
1697, 1704
1343, 1353
2134, 2139
2680, 2687
1135, 1136
1343, 1352
3639,3649
3752, 3771
1840, 1853
3212, 3236
572, 587
1963
1093
Pages
State member banks: (continued)
Security Bank and Trust Company, Danville, Virginia,
establishment of a branch at the
intersection of Wooding Avenue
and West Main Street, approved,
six-month extension approved
Security Savings Bank, Marshalltown, Iowa:
Application for permission to acquire the
assets and assume the liabilities
of Peoples Savings Bank, Laurel,
Iowa, approved
Issuance of order and statement authorized, operation of a branch at
the present location of Peoples
Savings Bank, approved
Report to FDIC on the competitive factors
involved in the proposed purchase
of assets and assumption of liabilities of Producers Savings
Bank, Green Mountain, Iowa, by,
approved
Establishment of a branch (bank office) at
Green Mountain, Iowa, providing
proposed purchase of assets and
assumption of liabilities of
Producers Savings Bank, Green
Mountain, Iowa, by, is approved
and consummated
Security State Bank of Turlock, California, proposed merger into Bank of Calif.,
N.A., San Francisco, California,
report to the Comptroller of the
Currency on competitive factors,
approved
Security Trust Company, Lynn, Massachusetts, proposed consolidation with Danvers
National Bank, Danvers, Mass.,
report to Comptroller of the Currency on competitive factors,
approved
Security Trust Company of Rochester, New York:
Application of First State Bank, Canisteo,
New York, to purchase the assets
and assume liabilities of the
Greenwood Branch of, approved
Issuance of order and statement authorized, including the operation
of a branch at the present location of Greenwood Branch of
Security Trust Company of Rochester
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/15
10/30
11/6
571, 584
3707
3824, 3833
12/10
4316
12/20
4488,4493
10/25
3670
12/30
4578
1/31
391
2/8
510,524-26
1963
1094
Pages
State member banks: (continued)
Security Trust Company of Rochester, New York: (continued)
Extension of time to establish a branch bank
at 293 East Main Street, Rochester,
10/31
New York, approved
s,
Illinoi
ille,
Shelbyv
Shelby County State Bank,
investment in bank premises for
the purpose of purchasing a site
and erecting new banking quarters,
12/16
approved
ck,
,
Woodsto
Company
Shenandoah County Bank and Trust
Virginia:
Issuance of limited voting permit to First
Virginia Corporation, Arlington,
Virginia, to vote the stock of
Richmond National Bank and Trust
Company, Richmond, Virginia,
Peoples' Bank, Mount Jackson,
1/4
Virginia, and, authorized
First
to
permit
Issuance of general voting
Virginia Corporation, Arlington,
9/16
Virginia, to vote stock of
:
Sidell State Bank, Sidell, Illinois
Six months' notice of withdrawal from mem4/19
bership in the FRSystem waived
withafter
e
insuranc
Continuance of deposit
drawal from membership in Federal
5/13
Reserve System, advice to FDIC
n,
Michiga
Range,
South Range State Bank, South
proposed consolidation with The
Superior National Bank and Trust
Company of Hancock, Michigan, report to the Comptroller of the
Currency on the competitive fac10/31
tors approved
,
Tucson,
Company
Trust
and
Bank
Southern Arizona
Arizona:
Authorized to accept drafts or bills of exchange as required by usages of
trade in certain designated
countries, dependencies, or insular possessions of the U.S.,
for the purpose of furnishing
4/24
dollar exchange
or
drafts
al
commerci
Authorized to accept
bills of exchange up to 100 per
8/1
cent of capital and surplus
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3722, 3725
4375, 4388
4, 22
3161, 3169
1261, 1287
1536, 1548
3722
1315, 1329
2527, 2542
1963
1095
Pages
State member banks: (continued)
Southern Arizona Bank and Trust Company, Tucson,
Arizona: (continued)
Establishment of a branch in a shopping
center at the intersection of 24th
Street and Camelback Road in
Phoenix, Arizona, approved, sixmonth extension approved
Establishment of a branch in the vicinity of
the intersection of East Broadway
and Sarnoff Drive, 1-1/2 miles
east of the city limits of Tucson,
approved, six-month extension
approved
Southern Bank and Trust Company, Richmond, Virginia:
Establishment of a branch at 3402-3404 Hermitage Road, Richmond, Virginia,
approved, six-month extension
approved
Southern Commercial and Savings Bank, St. Louis,
Missouri:
Six months' notice of withdrawal from membership in FRSystem waived
Continuance of deposit insurance after withdrawal from membership in the
FRSystem, advice to FDIC
Granted extension of time within which to
withdraw from membership in
FRSystem
State Bank of Albany, New York:
Application to merge with The Unadilla National Bank, Unadilla, New York,
denied
Issuance of order and statement authorized
Request for reconsideration of, in light
of additional information presented,
denied, letter to State Bank of
Albany, and Congressman Stratton
Establishment of an in-town branch at 1245
Washington Avenue, approved, sixmonth extension approved
State Bank of Crystal, Michigan, proposed consolidation with Montcalm Central
Bank, Stanton, Michigan, report
to FDIC on competitive factors,
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/1
732, 743
6/21
2028, 2035
7/18
2338, 2346
2/15
571, 581
4/15
1218, 1228
8/29
2952, 2969
4/19
1264
4/26
1344,1367-69
7/29
2497,2508
7/25
2435, 2447
11/6
3823
1963
1096
Pages
State member banks' (continued)
State Bank of Lebanon, Missouri, additional investment in bank premises for
purpose of acquiring and improving land for additional parking
facilities, approved
State Bank of Madison, Incorporated, Madison, Va.,
proposed merger into National
Bank and Trust Company at
Charlottesville, Virginia, report to Comptroller of the Currency on competitive factors,
approved
State Bank of Newfane, New York, proposed merger
into Liberty National Bank and
Trust Company, Buffalo, New York,
report to Comptroller of the Currency on competitive factors,
approved
State Bank of St. Charles, Illinois, investment
in bank premises approved
State Bank of Somerset County, Raritan, New Jersey,
additional investment in bank
premises incident to the establishment of a branch on Route 206 between Hamilton Road and Amwell
Road, Hillsborough Township,
Somerset County, New Jersey,
approved
State Bank of Virginia, Minnesota:
Six months' notice of withdrawal from membership in FRSystem, waived
Continuance of deposit insurance after withdrawal from membership in FRSystem,
advice to FDIC
State Street Bank and Trust Company, Boston,
Massachusetts, establishment of
a branch bank at 111 Franklin St.,
Boston, Massachusetts, concurrently with the relocation of its
main office at 225 Franklin Street,
Boston, Massachusetts, approved,
six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/6
2573, 2581
5/14
1563
8/27
2919
6/12
1898, 1911
2/5
440, 451
10/28
3687, 3693
11/14
3947, 3963
10/24
3640,3653
1963
1097
Pages
State member banks: (continued)
Sterling State Bank, Mount Sterling, Ohio:
Declaration of a dividend payable June 30,
1963, approved
Declaration of dividend payable December 31,
1963, approved
Sullivan County Trust Company, Monticello, New
York, application to merge with
The National Bank and Trust Company of Port Jervis, New York,
approved
Issuance of order and statement authorized,
operation of a branch incident
to the merger approved, Intercounty Trust Company, title of
resulting bank
Sulphur Springs State Bank, Sulphur Springs, Texas,
penalty for deficiency in reserves,
waived
Sumitomo Bank of California, San Francisco, Calif.:
Establishment of a branch at 1270 West Redondo
Beach Boulevard, Gardena, Calif.,
approved, with understanding re
increase in capital and comment
re need for considerably larger
sale of new stock, six-month extension approved
Establishment of a branch in the vicinity of
20th and Franklin Street, Oakland,
California, approved, six-month
extension approved
Sumiton Bank, Sumiton, Alabama:
Application for membership in FRSystem approved, subject to condition
numbered 3, re capital stock and
funds
Granted extension of time to accomplish
membership in FRSystem
Summit Trust Company, Summit, New Jersey, establishment of a branch at 37 Beechwood Road, Summit, New Jersey,
approved, six-month extension
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/7
11/29
1840, 1847
4140, 4157
3/19
942
3/22
988,1009-11
11/26
4095,4104
2/20
647, 657
4/19
1262, 1292
8/12
2681, 2690
9/3
2998, 3010
8/8
2597, 2630
1963
1098
Pages
State member banks: (continued)
Sussex County Trust Company, Franklin, New Jersey:
Application to merge with Farmers National
Bank of Sussex, New Jersey, under
title of Bank of Sussex County,
approved, Governor Robertson
dissenting
Draft of order and statement reviewed,
statement to be redrafted and
brought back for consideration
Issuance of order, majority statement,
and dissenting statement of Governor Robertson authorized, operation of a branch at the location
of Farmers National Bank of Sussex,
approved
Sylvan State Bank, Sylvan Grove, Kansas, Sylvan
Agency, Inc., Sylvan Grove, Kansas,
determined not to be a holding
company affiliate of, except for
purposes of section 23A of the
FRAct
Sylvania Savings Bank Company, Sylvania, Ohio,
establishment of a branch at
5756 Central Avenue in an unincorporated area of Sylvania
Township, Lucas County, Ohio,
approved, six-month extension
approved
Texas Bank & Trust Company, Dallas, Texas, Board
notes decision of FRBank of Dallas
not to report to Department of
Justice and FBI that probable
criminal violations of William
E. Cheshier, special assistant
examiner of FRBank of Dallas,
and Texas Bank & Trust Company
of Dallas, Texas, as a result
from loans made by the bank to
Mr. Cheshier
Texas State Bank, Austin, Texas:
Continuance of deposit insurance after withdrawal from membership in FRSystem,
bank urged to strengthen capital
stock position, advice to FDIC
Six months' notice of withdrawal from membership in FRSystem waived
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/16
1610
5/27
1767
5/29
1794, 1802
8/12
2681, 2692
10/25
8/27
3670,3682
2950
10/14
3527,3539
10/14
3528, 3541
1963
1099
Pages
State member banks: (continued)
Tompkins County Trust Company, Ithaca, New York,
establishment of a branch in
Triphammer Shopping Center
(Unincorporated Area), Town of
Lansing, Tompkins County, New
York, approved, six-month
extension approved
Trade Bank and Trust Company, New York, New York:
Granted permission to maintain same reserves
as are required to be maintained
by nonreserve city banks
Establishment of a branch at 50 Bayard Street,
Borough of Manhattan, New York, New
York, approved, six-month extension
approved
Traders Bank and Trust Company, Hazelton, Pennsylvania, proposed merger into Northeastern Pennsylvania National Bank
and Trust Company, Scranton,
Pennsylvania, report to the Comptroller of the Currency on competitive factors approved
Trust Company of Georgia, Atlanta, Georgia:
Establishment of a branch in the Life Insurance Company of Georgia building
at the corner of North Avenue and
West Peachtree Street, approved,
six-month extension approved
Establishment of a branch at corner of
Chattahooche Avenue and Ellsworth
Industrial Drive, N.W., Atlanta,
Georgia, approved, six-month
extension approved
Establishment of a branch in the proposed
Hartford Insurance Company Building on Edgewood Avenue between Ivy
and Courtland Streets, Atlanta,
Georgia, approved, six-month
extension approved
Trust Company of Morris County, Morristown, New
Jersey, extension of time to
establish a branch in the vicinity
of the intersection of Ridgedale
and Hanover Avenues, Morris Township, Morris County, New Jersey,
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/2
2557, 2566
5/23
1727, 1748
10/24
3640, 3655
11/14
3949
2/15
571, 585
8/16
2727, 2756
8/21
2832, 2843
3/22
986, 995
1963
1100
Pages
State member banks: (continued)
Trust Company of New Jersey, Jersey City, New
Jersey, granted extension of time
within which to establish a branch
at 2117-2127 Hudson Boulevard,
Jersey City, New Jersey
Twin Valley Bank, West Alexandria, Ohio, establishment of a branch bank in Gratis,
Ohio, approved, six-month extension approved
Union Bank, Los Angeles, California:
Establishment of a branch at 12160 Victory
Boulevard, North Hollywood, Calif.,
approved, six-month extension
approved
Question whether certain services would constitute"bank services" within the
definition of that term in the
Bank Service Corporation Act,
reply approved
Comments requested by Securities and Exchange
Commission re prospectus submitted
by the Hill Street Company, formerly Union Investment Company, an
affiliate of, previous ruling re
question of applicability of sections 32 and 20 of the Banking
Act of 1933 reaffirmed, reply
approved
Establishment of a branch at northeast corner of Ventura and Sepulveda
Boulevards, Los Angeles, Calif.,
approved, six-month extension
approved
Letter to FRBank of San Francisco advising
that the building of a service
building to house an electronic
computer and other related equipment, would not constitute a
branch requiring approval of the
Board
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/2
2557, 2563
10/7
3443, 3454
1/4
4, 19
1/14
98, 113
6/12
1899, 1918
8/2
2558, 2570
10/2
3410, 3419
1963
1101
Pages
Sta te
member banks: (continued)
Union Bank and Trust Company of Helena, Montana:
Application to maintain same reserve as
maintained by nonreserve city
banks, agreed to request President of FRBank of Minneapolis to
ascertain if applicant bank would
still be interested in reduced
reserves if it resulted in termination of Helena's designation as
a reserve city
Approved with the understanding that
the designation of Helena as a
reserve city would not be
terminated
Union Commerce Bank, Cleveland, Ohio:
Establishment of a branch in the vicinity of
the intersection of Detroit and
Dover Center Roads, Westlake, Ohio,
approved, six-month extension
approved
Establishment of two branches in the vicinity
of the northeast corner of Euclid
Avenue and East 276th Street,
Euclid, Ohio, approved, understood
that one of two branches is to be
drive-in facility located on a
parking area adjacent to the other
branch, but separated by property
over which the bank has no control,
six-month extension approved
Extension of time within which a branch at
11710 Clifton Boulevard, Lakewood,
Ohio, may be established, approved
Establishment of a branch at the southeast
corner of the intersection of
East Ninth Street and St. Clair
Avenue, Cleveland, Ohio, approved,
six-month extension approved
Union County Trust Company, Elizabeth, New Jersey,
establishment of a branch at the
southwest corner of Rahway Avenue
and South Street, Elizabeth, New
Jersey, approved, six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/23
3270-3273
10/2
3408,3417-18
9/19
3242, 3254
9/19
3242, 3255
9/26
3341, 3347
11/15
7/26
4006, 4010
2454, 2475
1963
1102
Pages
State member banks: (continued)
Union and New Haven Trust Company, New Haven, Conn.,
establishment of a branch in Old
Saybrook Shopping Center at intersection of Route 1 and Elm Street,
Old Saybrook, Connecticut, approved, six-month extension approved
Union Trust Company of Ellsworth, Maine, extension of time to establish a
branch at Outer High Street,
Ellsworth, Maine, approved
Union Trust Company of Maryland, Baltimore,
Maryland:
Application to merge with Peoples Loan,
Savings and Deposit Bank, Cambridge, Maryland, approved,
with Governors Robertson and
Mitchell dissenting
Issuance of order, majority statement,
and dissenting statements of Governors Robertson and Mitchell
authorized, operation of a branch
incident to the merger approved
Establishment of a branch at the southwest
corner of U.S. Route 40 and Rolling Road, Baltimore County,
Maryland, approved, six-month
extension approved
Establishment of a branch at Belcamp, Maryland,
approved, six-month extension
approved
Application to merge with Farmers National
Bank of Annapolis, Maryland,
unanimously denied
Issuance of order and statement authorized, proposed operation of three
branches of Farmers National Bank
of Annapolis incident to merger
noted in order denying
Establishment of a branch in the Frankford
Plaza Shopping Center at the
southwest corner of Frankford
Avenue and Morovia Road, Baltimore, Maryland, approved, sixmonth extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/9
2657, 2668
1/31
380, 400
2/21
667
3/1
734, 744-53
3/22
986, 1002
7/11
2254, 2265
11/5
3700
11/8
3907, 3909
12/27
4557,4566
1963
1103
Pages
State member banks: (continued)
United California Bank, Los Angeles, California:
Capital structure:
Board urges that plans for substantial
strengthening of bank's capital
position be expedited
Letter re study of its capital requirements, including reference to
possible issuance of debentures,
received from, staff to draft
reply
Reference to capital position, decision
to redraft Board letter to include
reference to possible use of debentures in plans for augmenting
capital
Letter re bank's current study of capital needs, indicating Board's
generally unfavorable attitude
toward use of debentures as means
of providing bank capital,
approved
Plans for improving capital structure
by sale of common stock and capital debentures reviewed, participation of Western Bancorporation
noted, letter acknowledging plans
sent to
Establishment of a branch in vicinity of
Huntington Boulevard between
Edinger and Warner Avenues,
Huntington Beach, California,
approved, six-month extension
approved
of a branch in downtown busishment
Establi
ness district of Los Banos, Calif.,
approved with comment re plans
for strengthening capital position, six-month extension approved
of a branch on southeast corshment
Establi
ner of intersection of Highway
111 and Monroe Avenue, Indio,
California, approved, six-month
extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/13
545
3/20
961
3/22
987
4/1
1078, 1088
7/10
2219, 2250
2/13
535, 545
2/26
683, 691
3/20
960, 980
1963
1104
Pages
State member
banks: (continued)
United California Bank, Los Angeles, California: (continued)
Establishment of a branch on State Street
between La Cumbre Road and San
Roque Road in an unincorporated
area adjacent to and west of the
City of Santa Barbara, Calif.,
approved, six-month extension
3/22 987, 1004
approved
Establishment of a branch at the intersection of Fourth Street and Heffernan Avenue, Calexico, Calif.,
approved, six-month extension
approved
3/22 987, 1005
Establishment of a branch in the vicinity
of Mission Valley Center at Mission Center Road and U.S. Highway 80, San Diego, California,
approved, six-month extension
1078, 1085
4/1
approved
northeast
corat
branch
Establishment of a
ner of Harbor Boulevard and
Broadway, Anaheim, California,
approved, provided branch at 203
East Lincoln Avenue, Anaheim, is
discontinued simultaneously, six6/20 1991, 2010
month extension approved
vicinity
the
in
branch
a
of
Establishment
of Palos Verdes Boulevard and
Pacific Coast Highway, Redondo
Beach, California, approved, six7/26 2454, 2476
month extension approved
Establishment of a branch in the vicinity of
the area bounded by Harrison, Third,
Brannan, and Fifth Streets, San
Francisco, California, approved,
2558, 2571
8/2
six-month extension approved
Establishment of a branch at 6380 Wilshire
Boulevard, Los Angeles, approved,
2597, 2631
8/8
six-month extension approved
Establishment of a branch in temporary quarters at southwest corner of Second
Street and Heber Avenue, Calexico,
California, until permanent quarters are occupied at intersection
of Fourth Street and Heffernan
8/23 2907, 2914
Avenue, Calexico, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1105
Pages
tate member banks: (continued)
United California Bank, Los Angeles, California: (continued)
Extension of time granted within which to
establish a branch in downtown
business district of City of
Downey, Los Angeles County,
2998, 3012
9/3
California
Establishment of a branch in the vicinity of
intersection of Pacific Coast
Highway and Crown Valley Parkway,
unincorporated community of
Laguna Niguel, Orange County,
California, approved, six-month
3019, 3039
9/4
extension approved
ry
quarEstablishment of a branch in tempora
ters in the vicinity of Niguel
Road (El Toro) and Santa AnaSan Diego Freeway, in Laguna
Hills Retirement Community, Orange
County, California, approved, six3019, 3040
9/4
month extension approved
Establishment of a branch at 1227 Fourth Ave.
San Diego, California, with understanding that installment loan
department now located at 1269
Fourth Avenue will be housed at
this location and that operations
at 1227 Fourth Avenue will be
discontinued simultaneously with
beginning of operations at Fourth
Avenue and B Street, San Diego,
California, approved, six-month
3058, 3069
9/6
extension approved
n
6820
and
betwee
branch
a
of
t
ishmen
Establ
6860 Skyway, Paradise, Butte
County, California, approved,
provided that the branch operations now conducted at 6412 Skyway, Paradise, Butte County,
California, be discontinued
simultaneously, six-month exten10/8 3461, 3465
sion approved
Establishment of a branch at Murchison Drive
in the vicinity of its intersection with El Camino Real in either
Millbrae or Burlingame, approved,
10/24 3640, 3659
six-month extension approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1106
Pages
State member banks: (continued)
United California Bank, Los Angeles, California: (continued)
Establishment of a branch in the vicinity
of the intersection of Market
and Polk Streets, San Francisco,
California, approved, six-month
10/25 3670,3684
extension approved
vicinity
of
the
a
in
of
branch
Establishment
the intersection of Rancho Bernado
Boulevard and Pomerado Road in
Rancho Bernado, San Diego, Calif.,
approved, six-month extension
11/4 3752, 3772
approved
vicinity
the
in
branch
a
of
Establishment
of the area bounded by Railroad
Avenue, Carolyn Drive, Riverview
Drive, and State Highway 24,
Pittsburg, California, approved,
11/14 3947,3960
six-month extension approved
Establishment of a branch in Leisure World
Senior Citizen Development, Walnut Creek, California, approved,
11/14 3947,3959
six-month extension approved
vicinity
the
in
branch
a
of
Establishment
of the intersection of Brookhurst
Street and Chapman Avenue, Garden
Grove, Orange County, California,
approved, six-month extension
11/29 4140,4156
approved
Establishment of a branch in Palm City Shopping Center, Palm City, an unincorporated community in Riverside
County, California, approved, six12/12 4343,4347
month extension approved
Pre-empting of branch sites by large banks
in California, questioned by
Governor Balderston, staff to
arrange for discussion with State
Superintendent of Banks to exchange views and strengthen
11/14 3948
liaison
United Home Bank & Trust Company, Mason City,
Iowa, establishment of an intown branch (Parking Lot Office)
at 1329 North Federal Street,
approved, six-month extension
7/24 2403,2430
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1107
Pages
State member banks: (continued)
United States Trust Company of New York, New York,
consent granted to reserve names
of United International Banking
Corporation and United International Financing Corporation,
New York, New York, reservation
of names does not constitute
approval of organization
Valley Bank of Grand Forks, North Dakota, establishment of a branch in the North
Side Industrial and Shopping Area,
Grand Forks, North Dakota, approved, six-month extension
approved
Valley Bank of Nevada, Reno, Nevada, application
for membership in FRSystem approved, effective if and when
bank opens for business under
appropriate State authorization,
subject to condition numbered 3,
re capital stock
Valley Bank and Trust Company, Springfield, Mass.:
Establishment of a branch at 1237 Sumner
Avenue, Springfield, Massachusetts,
approved, six-month extension
approved
Establishment of a branch in a proposed shopping center at southwest corner
of Allen and Cooley Streets,
Springfield, Massachusetts, approved, with two year period
within which to establish branch,
six-month extension approved
Establishment of a branch on East Street,
opposite Soule Road, Ludlow,
Massachusetts, approved, sixmonth extension approved
Wachovia Bank and Trust Company, Winston-Salem,
North Carolina:
Application to merge with Bank of Randolph,
Asheboro, N.C., approved, with
Governor Mills and Robertson
dissenting
Issuance of order, statement, and dissenting statement authorized,
operation of a branch incident to
the merger approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/19
2796,2810-11
1/30
289, 303
12/18
4411,4436
5/13
1537, 1550
8/9
2657, 2666
11/15
11/5
11/14
4005, 4009
3790
3950, 3969
1963
1108
Pages
State member banks: (continued)
Wachovia Bank and Trust Company, Winston-Salem,
North Carolina: (continued)
Establishment of a branch on U.S. Highway
401, south of city limits of
Raleigh, North Carolina, approved,
six-month extension approved
Establishment of a branch at 176 SharonAmity Road, South, Charlotte,
North Carolina, approved, sixmonth extension approved
Establishment of a branch on U.S. Highway
70 at the intersection of Lynnstone Court in Asheville, North
Carolina, approved, six-month
extension approved
Establishment of a branch on Corporation
Parkway near the intersection of
Buchanan Street in Winston-Salem,
approved, six-month extension
approved
Establishment of a branch at intersection of
Robin Hood and Peace Haven Roads
in Winston-Salem, North Carolina,
approved, six-month extension
approved
Establishment of a branch at 3665 East Independence Boulevard, Charlotte,
North Carolina, approved, sixmonth extension approved
Penalty for deficiencies in reserves waived
Request for permission to submit computer
printout in lieu of official
condition report form, no objection by Board, advice to FRBank
of Richmond and to Presidents
of all FRBanks
Walker Bank & Trust Company, Salt Lake City, Utah:
Extension of time to establish a branch at
southeast corner of the intersection of Washington and Eighth
South Streets, Salt Lake City,
approved
Appointment of Gust H. Zumas as assistant
examiner for FRBank of San Francisco approved with understanding
he not participate in examination
of, as long as his sister is employed by that bank
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/26
1343, 1357
4/26
1343, 1358
5/6
1477, 1494
5/6
1477, 1495
8/9
2657, 2669
8/16
2/20
2726, 2755
647, 655
10/3
3423,3429-31
4/29
1376, 1382
12/20
4491, 4496
1963
1109
Pages
State
member banks: (continued)
Warren Bank, Warren, Michigan:
Establishment of an in-town branch, approval
recommended by FRBank of Chicago
and Michigan State Banking Department, Division of Examinations
recommended denial due to inadequate capital, understood that
the staff would contact State
Banking Commissioner Slay, Board
to consider later
Results of telephone conversation with
Commissioner Slay reported by
Division of Examinations, agreed
that before final Board action,
representatives of applicant
bank meet with representatives
of Division of Examinations
Approved in light of outcome of meeting and attitude toward capital
position, six-month extension
approved
Warren Bank and Trust Company, Warren, Pennsylvania, proposed merger into Titusville Trust Company, Titusville,
Pennsylvania, report to FDIC on
competitive factors approved
Washington State Bank, Washington, Iowa, establishment of an in-town branch
(Parking Lot Office) at southwest corner of intersection of
South Avenue B and West Washington Street, approved, six-month
extension approved
Waterloo Savings Bank, Waterloo, Iowa, appointment of Charles J. Walker as
assistant examiner, FRBank of
Chicago, approved, not to participate in examination of, while
his father is Chairman of the
Board and owns stock
Wayne County Bank and Trust Company, Honesdale,
Pennsylvania:
Six months' notice of withdrawal from membership in FRSystem waived
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/5
442
2/7
482
2/21
666, 681
2/26
684
1/14
98, 112
11/5
3812, 3821
1/24
238, 246
1963
1110
Pages
State
member banks: (continued)
Wayne County Bank and Trust Company, Honesdale,
Pennsylvania: (continued)
Continuance of deposit insurance after withdrawal from membership in FRSystem,
advice to FDIC
Penalty for deficiency in reserves waived
Withdrawal from membership in FRSystem,
noted
Wellesley Trust Company, Wellesley, Massachusetts:
Application of Norfolk County Trust Company,
Brookline, Massachusetts, to
consolidate with, approved,
Governor Robertson dissenting
Additional information presented, decision by Governor Mitchell to
reverse vote, vote retaken and
application approved, Governors
Robertson and Mitchell dissenting
Issuance of order, statement, and dissenting statement of Governor
Robertson, in which Governor
Mitchell concurred, authorized,
operation of the two offices of,
as branches of Norfolk County
Trust Company, approved
Wells Fargo Bank, San Francisco, California:
Extension of time to establish a branch at
20th and Franklin Streets, Oakland, California, approved, with
the understanding that branch
operations now conducted at 22nd
and Webster Streets, Oakland, be
discontinued
Application for permission under section 25
of the FRAct to acquire stock of
the proposed Wells Fargo Bank
International Corporation, San
Francisco, California, permission
to be granted upon receipt of executed agreement, request for
Wells Fargo Bank International
Corporation, to invest in the proposed Private Development Corporation of the Philippine Islands,
upon receipt of appropriate documentation, Board to consider
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/28
4/24
717, 724
1314, 1322
4/24
1322
4/9
1176
4/12
1200
4/19
1262,1297-1305
1/4
4, 20
1/4
5, 29
1963
1111
Pages
State
member banks: (continued)
Wells Fargo Bank, San Francisco, California: (continued)
Application for permission to purchase stock
of Wells Fargo Bank International
Corporation: (continued)
Approved, formal starting of the corporation following execution of
the agreement in accordance with
3/4
section 25 of the FRAct
Establishment of a branch in the vicinity of
Arden Fair Shopping Center, at
intersection of Arden Way and
Freeway #40, in Sacramento County,
California, approved, six-month
2/7
extension approved
Establishment of a branch in downtown section
of Oakdale, California, approved,
2/7
six-month extension approved
Establishment of a branch in downtown business
district of Quincy, California,
approved, six-month extension
2/20
approved
Establishment of a branch in Westmoor Shopping Center in the vicinity of
the intersection of Fremont and
Mary Avenues, Sunnyvale, Calif.,
approved, six-month extension
2/20
approved
the
in
vicinity
of
branch
a
of
ment
Establish
the intersection of Power Inn Road
and Fruitridge Road, Sacramento,
California, approved, six-month
2/21
extension approved
Williams,
in
Calif.,
branch
a
of
ment
Establish
approved, six-month extension
2/21
approved
the
vicinity
of
in
branch
a
of
ment
Establish
West Capitol Avenue and Michigan
Boulevard in the unincorporated
area of Yolo County known as West
Sacramento, California, approved,
2/26
six-month extension approved
a
branch
in
establish
the
to
Extension of time
vicinity of West Jackson Street and
Calaroga Avenue, Hayward, California
3/11
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
758, 765
478, 498
478, 499
647, 658
647, 659
665, 676
665, 677
683, 692
840, 863
1963
1112
Pages
Stete
member banks: (continued)
Wells Fargo Bank, San Francisco, California: (continued)
Establishment of a branch in Grass Valley,
California, approved, six-month
extension approved
3/20 960, 982
Establishment of a branch in the vicinity of
the intersection of Warm Springs
Boulevard and Mission Boulevard,
Fremont, California, approved,
six-month extension approved
4/26 1355, 1360
Establishment of a branch in the vicinity
of the intersection of Calaroga
Avenue and Chanslor Boulevard,
Hayward, California, approved,
six-month extension approved,
approval of branch in vicinity
of West Jackson Street and
Calaroga Avenue, Hayward, Calif.,
rescinded
5/15 1577, 1593
Extension of time to establish a branch in
the vicinity of the downtown
business district of St. Helena,
Napa County, California, approved
6/12 1899, 1912
Establishment of a branch on Thornton Avenue,
between Cedar Boulevard and Cherry
Street, Newark, California, approved, six-month extension approved
6/12 1899, 1913
Investment direct and indirect in bank premises, approved, amount represents
an investment by, and indebtedness
by the affiliate ATC Building
Company
7/31 2511, 2521
Establishment of a branch in the vicinity
of the downtown business district
of Lafayette, an unincorporated
community in Contra Costa County,
California, approved, six-month
2597, 2632
extension approved
8/8
Application to merge with State Center Bank,
2619
Fresno, California, approved
8/8
Issuance of order and statement authorized, operation of six branches
8/19 2797,2817-19
incident to merger approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1113
Pages
State
member banks: (continued)
Wells Fargo Bank, San Francisco, California: (continued)
Extension of time to establish a branch in
the vicinity of East Laurel Drive
and Alvin Drive, Salinas, Calif.,
approved
8/16
Extension of time to establish a branch
in vicinity of the intersection
of Winding Way and Manzanita Ave.,
in an unincorporated area of
Sacramento County, California,
approved
9/19
Establishment of a branch in the vicinity
of the business district of
Crescent City, California, approved, six-month extension
approved
10/9
Establishment of a branch in the vicinity
of the intersection of Willow
Pass Road, Taylor and Pacheco
Boulevards, Concord, California,
approved, six-month extension
approved, establishment of this
branch in proposed temporary quarters, denied
10/15
Establishment of a branch in the downtown
business district of Turlock,
California, approved, six-month
extension approved
11/14
Establishment of a branch in the vicinity
of the intersection of Camden
and Hillsdale Avenues, San Jose,
California, approved, six-month
extension approved
11/26
Establishment of a branch in the downtown
business district of Alturas,
Modoc County, California, approved, six-month extension
approved
11/26
Extension of time to establish a branch in
the vicinity of Rosemont Plaza
on Middle Jackson Road (now
known as Kiefer Road), between
Manlove and Mayhew Roads, Sacra12/10
mento, California, approved
Establishment of a branch in Sacramento
Redevelopment Area Shopping Center,
12/12
Sacramento, California, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2726, 2751
3242, 3256
3470, 3497
3547,3553
3947, 3958
4095, 4101
4095, 4102
4316, 4321
4343, 4348
1963
1114
Pages
State
member banks: (continued)
Wells Fargo Bank, San Francisco, California: (continued)
Establishment of a branch in the downtown
business section of Anderson,
California, approved, six-month
12/27 4557, 4569
extension approved
Establishment of a branch in the downtown
business section of Corning,
Tehama County, California,
approved, six-month extension
12/27 4557, 4570
approved
the
vicinity
of
Establishment of a branch in
San Pablo Avenue, and the AlamedaContra Costa County line in El
Cerrito, Contra Costa County,
California, approved, six-month
12/27 4557, 4571
extension approved
Establishment of a branch in the vicinity of
the intersection of Edwards and
Cleveland Avenues, Santa Rosa,
California, approved, six-month
extension approved, temporary
quarters to be discontinued simultaneously with the opening of
12/27 4557, 4572
the permanent quarters
Extension of time to establish a branch at
southwest corner of 20th and
Franklin Streets, Oakland,
12/27 4557, 4573
California, approved
West Branch Bank and Trust Company, Williamsport,
Pennsylvania:
Application to merge with Bank of Newberry,
Williamsport, Pennsylvania, under
charter of petitioner and title
Northern Central Bank and Trust
Company, Board agreed to arrange
oral presentation re proposed
8/30 2978
merger
Oral presentation subsequently arranged
8/30 2981
for September 19, 1963
Further views of Board members presented,
application approved, Governor
10/14 3530
Robertson dissenting
Issuance of order, statement and dissenting
10/23 3607,3629-36
statement, authorized
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1115
Pages
State
member banks: (continued)
Westport Bank, Kansas City, Missouri, granted
permission to exercise fiduciary
powers
Wharton Bank and Trust Company, Wharton, Texas:
Six months' notice of withdrawal from membership in FRSystem waived
e
Continuanc of deposit insurance after withdrawal from membership in FRSystem,
advice to FDIC, approved
White Haven Bank, White Haven, Pennsylvania, report to Comptroller of the Currency on the competitive factors
in the proposed purchase of assets
and assumption of liabilities of,
by First National Bank of WilkesBarre, Pennsylvania, approved
Wilmington Trust Company, Wilmington, Delaware:
Establishment of a branch at the intersection
of Routes 13 and 113, at Court
and Loockerman Streets in Dover,
Kent County, Delaware, approved,
six-month extension approved,
delay in action questioned by State
Bank Commissioner, record indicated
application held by FRBank of
Philadelphia, understood that
Division of Examinations would
continue to urge expeditious
processing of applications by
the FRBanks
Application to purchase assets and assume
liabilities of Camden (Delaware)
branch of Baltimore Trust Company,
Selbyville, Delaware, and incident
thereto to make an additional
investment in bank premises, approved, Governor Robertson dissenting
Issuance of order, majority statement,
and dissenting statement of Governor Robertson authorized, operation of a branch incident to the
consolidation, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/27
1033, 1038
9/23
3268, 3289
10/7
3443, 3455
12/9
4247
2/15
572, 590
7/10
2224
7/23
2376,2388-98
1963
1116
Pages
State member banks: (continued)
Wilmington Trust Company, Wilmington, Delaware: (continued)
Establishment of a branch in the vicinity
of West Market Street and The
Square, Georgetown, Delaware,
and an investment in bank premises, approved, six-month ex10/24 3640, 3656
tension approved
Establishment of a branch at 436 Loockerman
Street, Dover, Delaware, with the
provision that branch operations
are confined to granting and servicing consumer credit loans and
that operations be discontinued
within one year, approved with
investment in property for new
12/18 4411, 4431
branch
Windber Bank and Trust Company, Windber, Pennsylvania, proposed purchase of assets
and assumption of liabilities of,
by United States National Bank
in Johnstown, Pennsylvania, report to Comptroller of the Currency on competitive factors
4/29 1378
approved
Winnetka,
Bank,
Illinois,
Savings
Winnetka Trust and
investment in bank premises ap820, 828
3/7
proved
Wisconsin,
Milwaukee,
Wisconsin Marine Bank,
additional investment in bank
11/8 3890, 3900
premises approved
Worthen Bank & Trust Company, Little Rock, Arkansas,
establishment of a branch (teller's
window) on the northeast corner
of Capitol Avenue and Ring Street,
Little Rock, approved, six-month
1510, 1517
5/9
extension approved
Yellowstone Bank, Absarokee, Montana, application
for membership in the FRSystem
approved, with a condition re the
amount of paid -in and unimpaired
capital stock and other capital
6/20 1993, 2020
funds
YPsilanti Savings Bank, Ypsilanti, Michigan, establishment of a branch at the
southwest corner of intersection
of Washtenaw Ave., and Hewitt Rd.,
Ypsilanti Township, Washtenaw Co.,
Mich., approved, six-month exten9/27 3356, 3380
sion approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1117
Pages
St
atistics:
Bank condition data:
Collection of:
Problems discussed in light of possibility of Comptroller of Currency proceeding with revision of
national bank call report forms,
agreed work should continue on
formulation of alternative reporting program
Report by Governor Mitchell re opposition to the idea of obtaining
data by means of a sampling process as indicated at the latest
meeting of the System Research
Advisory Committee, previously
discussed problems reviewed including views of Comptroller of
the Currency
with representatives of
working
Staff
Comptroller of the Currency and
FDIC to formulate a uniform report of condition for the Dec.
call, meeting scheduled for week
of September 23, Mr. Conkling requested suggestions from Board
and staff
Possibility for uniformity in year-end
reports remote, as revealed at
meeting with representatives of
Comptroller of the Currency,
FDIC, and National Association of
Supervisors of State banks, Mr.
Conkling's memorandum sent to
Comptroller of the Currency
Bank debits series:
Revision authorized as proposed by System
Research Committee, effective on
collecting basis January 1964
and on publication basis in 1965,
letter to FRBanks re
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/13
542
3/7
724
9/12
3136
10/23
11/1
3608,3637
3730,3740
1963
1118
Pages
St
atistics: (continued)
Common trust statistical field:
Recommended by the Division of Bank Operations that the Board withdraw
from, following publication of
the 1962 survey in the May
FRBulletin, agreed to discuss
with Bureau of the Budget and
withdraw if no objection is made,
further recommended that announcement of withdrawal be included in
letter to the FRBanks transmitting
reprints of the Bulletin article
Condition reports and income and dividends reports of national banks:
Informally informed that the Office of the
Comptroller of the Currency would
discontinue the current practice
of editing for statistical purposes, confirmation requested as
well as suggestions re possible
procedure to maintain statistical
quality of combined reports, if
confirmed FRBanks to be notified
and asked to edit national bank
reports on same basis as State
bank reports
Deposits-by-Counties, data furnished to Department of Justice, request for
verification, explanation, and
permission to disclose in judicial
proceedings, letter to Justice
Department,approved
Financial data for research purposes, memorandum
by Mr. Noyes requesting a contract
with University of Wisconsin for
an exploratory investigation of
methods of organizing, principal
investigator for project would be
Edgar L. Feige, Assistant Professor of Economics, University of
Wisconsin
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/19
941, 958
6/12
1902,1926
10/30
12/2
3713,3720
4160,4184
1963
1119
Pages
Statistics: (continued)
Flow of funds area, advantages in connection with,
arising from the attendance of
Mr. Stephen Taylor at a meeting
of the Working Group on Statistics
of Financial Assets and Liabilities,
Conference of European Statisticians,
in Geneva, Switzerland, noted
Monetary indicators, tables showing seasonally
adjusted annual rates of increase
of selected, Governor Balderston
indicated that compilations might
be helpful to members of the Open
Market Committee, understood that
the staff would consider including
such tabulations in documentation
furnished to the Committee
Reserves:
Free reserve figures, staff to provide Board
members with copies of an historical compilation showing the range
of errors
Memorandum from Mr. Noyes recommending that
the Board provide the American
Bankers Association Project Committee on the Reserve Settlement
Periods of Member Banks with daily
statistics on major factors affecting, approved
Understood that Board offers no objection to
publication of daily figures of,
reserve settlement periods of member banks furnished to Banking and
Financial Research Committee of
American Bankers' Association for
study
Retail credit, survey reviewing area of, approved
Retail trade:
Question of FRSystem continuing long departmental report until January 1964,
(as requested by Mr. Bennett, National Retail Merchants Association) brought up in review of
summary of meeting of Committee
of Five pending development of
program for withdrawal of System
from department store reporting,
agreed that Governor Mitchell and
Mr. Sherman redraft reply to
Mr. Bennett
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/14
562
1/11
89
1/11
88
5/9
1511, 1521
10/25 3674
1/23 227
3/6
790
1963
1120
Pages
Statistics: (continued)
Retail trade: (continued)
Summary of meeting of Committee of Five reviewed, draft reply re: (continued)
Letter to National Retail Merchants Association, re department store
reporting program and to J. C.
Penney Co., re participation in
a national departmental reporting program, approved
Letter to Mr. H. H. Bennett, President,
National Retail Merchants Association, re plans with respect to,
Board prepared to continue work
for a temporary period until the
Bureau of the Census is prepared
to compile data, intended that
letter of instructions would be
sent to FRBanks
Steel:
Inventories, liquidation of, question re prospect
of further liquidations, topic
for discussion with FAC
Opinion that the liquidation of steel inventories acquired earlier this year
has about run its course, views
expressed at joint meeting with
FAC
Stevens, Edwin L., Professor:
Oral Communication, effective, 24-hour course
to be conducted by, under Employee
Training and Development Program,
arrangements confirmed with understanding re compensation
Reading improvement, 24-hour course to be conducted
by:
Arrangements confirmed
Arrangements confirmed
0
Bank:
Owned or controlled directly or indirectly
by registered bank holding companies and by Financial General
Corp., where shares so held are
less than 25 per cent of total
shares, information to be made
available to House Banking and
Currency Committee as requested
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/19
11/18
1277,1309-13
4018,4031
9/4
3019,3046
9/17
3179
2/11
534
2/13 544
12/19 4467
4/12
1199
1963
1121
Pages
Stock: (continued)
Bank: (continued)
Owned by Class B directors, request for information by Professor Mansfield
of the House Banking and Currency
Committee Staff, Chairman Martin
indicated same information requested by Committee before, did
not reveal any questionable situation, no reason to undertake
survey now, understood Mr. Cardon
would talk further with Professor
Mansfield
Bank holding company stock:
Public sale of, in connection with proposed
bank holding company transactions,
question whether interest of public investors and potential stockholders fall within Board's consideration of public interest
factor, discussion in connection
with application of Trans-Nebraska
Co.
Acceptance by The Bank of Virginia of stock
of Virginia Commonwealth Corporation, in exchange for stock
in The Bank of Henrico, which
was being held by the State member bank as collateral for loans,
violation of section 6(a)(2) of
the Bank Holding Company Act
Capital:
Debentures, issuance of, as a means of
raising:
United California Bank, Los Angeles,
California, in connection with
its capital requirements, staff
to draft reply
Decision to redraft letter referring to Bank's plan, but not
indicating Board's position with
respect to
Letter to United California Bank,
Los Angeles, Calif, indicating
Board's unfavorable attitude
toward, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/25
2444
4/9
1168, 1176
5/6
1477, 1499
3/20
961
3/22
987
4/1
1078, 1088
1963
1122
Pages
Stock: (continued)
Capital: (continued)
Debentures, issuance of, as a means of
raising: (continued)
Board's view that such a practice is
not desirable, stated in letter
acknowledging plans of United
California Bank to increase capital by sale of common stock and
capital debentures
Discussed at joint meeting with Presidents' Conference, decision that
Board would send copies of recent
correspondence stating Board's
views to Presidents of all FRBanks
Use of, by national banks as part of
such bank's unimpaired capital
surplus funds for purposes of
computing limit of loans to
individual borrowers prescribed
by Section 5200, Revised Statutes
(Individual banks):
Bank of Dearborn, Michigan, understanding
re increase in capital structure
through the sale of additional
common stock for cash during the
latter half of 1963
Bank of Idaho, Boise, Idaho:
Reference to bank's capital position in
letter transmitting order and
statement approving application
to merge with Panhandle State
Bank, Coeur d'Alene, Idaho
Need for strengthening capital position emphasized in letter from
FRBank of San Francisco, in
which Board concurred
Bank of Rangely, Colorado, application for
membership in FRSystem approved
subject to 3rd condition stating
amount of capital stock required
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/10
2219,2250
12/3
4199
12/27
4558
2/15
589
4/15
1237
7/23
2375,2387
4/19
1262,1288
1963
1123
Pages
Stock: (continued)
Capital: (continued)
Bank of Virginia, Richmond, Virginia:
Need for strengthening of capital position indicated in discussion with
respect to application to merge
with The Farmers Bank of Dinwiddie, Virginia, manner in which
Virginia Commonwealth Corporation
proposed to raise money for the
purchase of additional stock,
criticized
Letter transmitting order approving
merger, emphasized need for
strengthening capital position
Reference to the bank's capital position in connection with the discussion re application to merge
with Bank of Henrico, Sandston,
Virginia
Further reference to need for strengthening capital position made in
letter transmitting order approving application to merge with
Bank of Henrico
Draft letter to be prepared for Board's
consideration to go to Virginia
Commonwealth Corporation, Richmond, Virginia, with admonition
to strengthen capital position
of Bank of Virginia, a subsidiary
of Virginia Commonwealth Corporation
Letter approved and transmitted
Bankers International Corporation, New York,
New York, consent granted to
amend articles of association to
increase capital stock of, whereby Bankers Trust Company would
buy additional shares, allowing
BIC to invest in l'Union des
Mines-La Henin, Paris, France,
Governor Robertson dissenting
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/20
1643
5/24
1764
6/11
1883
6/17
1951
7/26
8/16
2455
2730,2789
9/3
2998,3014
1963
1124
Pages
Stock: (continued)
Capital: (continued)
Bankers International Financing Company, Inc.,
New York, New York, consent granted to an increase in capital and
approval of an amendment to the
Company's articles of association
Cambria Bank, Cambria, Virginia, provision
that capital stock be increased
prior to establishment of a
branch
Citizens Bank & Trust Company, Campbellsville, Kentucky, understood that
capital stock at the bank would
be increased prior to the establishment of a branch
Farmers State Bank, Cleveland, Texas, urged
to strengthen capital stock position, noted in advice to FDIC re
continuance of deposit insurance
after withdrawal from membership
in FRSystem
First State Bank, Buffalo, South Dakota,
noted that additional investment
in bank premises which, when added
to value of present investments
in such premises will aggregate
an amount in excess of bank's capital stock
First State Bank and Trust Company, Bryan,
Texas, provision to increase
capital funds through sale of
capital stock and proceeds from
sale of present quarters to be
added to capital funds in light
of approved investment in bank
premises
Grant County State Bank, Bayard, New Mexico,
increase in capital funds thru
sale of new stock and increase in
common capital stock indicated
in connection with the establishment of a branch in Silver City,
New Mexico
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/22
11/26
5/3
10/14
12/2
12/18
6/17
206, 217
4095,4100
1453
3527,3540
4160,4177
4411,4434
1929,1940
1963
1125
Pages
Stock: (continued)
Capital: (continued)
Hackensack Trust Company, Hackensack, New
Jersey, admonition to strengthen
capital position stressed in
Board letter approving establishment of a branch in Harrington
Park, Bergen County, New Jersey
Heights State Bank, Houston, Texas, consideration re augmenting capital account
urged in light of investment in
bank premises
Bank for Reconstruction and
tional
Interna
Development, draft bill to amend
Bretton Woods Agreement to increase capital stock of, report
sent to Budget Bureau
State Bank, Mount Pleasant,
a
County
Isabell
Michigan, understood that proposed capital program would be
consummated, in light of the
establishment of a branch at
202 South College Street
Long Island Trust Company, Garden City,
New York, capital structure below
desirable levels, Board urges the
directors to study carefully the
bank's capital position in relation to its responsibilities
and risks
Merchants Trust & Savings Bank, Kenner,
Louisiana, letter to FDIC calling attention to capital needs
of, in connection with continuance of deposit insurance after
withdrawal from membership in
the FRSystem
Morgan Guaranty International Banking Corporation, New York, New York, permission granted to amend articles
of association to increase capital stock
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/29
2492, 2507
4/19
1262, 1290
4/29
1375, 1381
8/1
2526, 2539
6/7
1840, 1850
8/16
2748
1/16
130, 136
1963
1126
Pages
Stock: (continued)
Capital: (continued)
Newark Trust Company, Newark, Ohio, capital
stock to be increased sufficiently
to permit establishment of a branch
under State law
Pascagoula-Moss Point Bank, Moss Point,
Mississippi, adequacy of the bank's
capital funds will be reappraised
in early 1964 at which time a program to sell capital stock will
be formulated if a need exists
in connection with the approved
establishment of a branch on Highway 90 in the eastern corporate
limits of Pascagoula
Peoples Trust Company of Bergen County,
Hackensack, New Jersey:
Approval to merge with Palisades Trust
Company, Englewood, New Jersey,
would not be made contingent on
an increase of capital although
desirability of augmenting capital would be set forth in transmittal letter
Issuance of order and statement approving merger authorized, letter indicating need to strengthen capital position
Company, Mansfield, Ohio,
Trust
Richland
permission denied to carry investment in bank premises in an amount
in excess of the bank's capital
stock
and Savings Bank, Seattle,
Trust
Seattle
Washington, plans to provide additional capital funds during
the latter part of 1963, in light
of investment in bank premises
Sumitomo Bank of California, San Francisco,
California, capital funds have
not been increased proportionately to increase in deposit
growth, noted, understanding re
increase in capital, and comment
re need for considerably larger
sale of new stock, noted in connection with approval of branch
application
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/30
3402
5/22
1707
10/10
3505
10/23
3607,3620-28
8/19
2796,2815
6/7
1853
2/20
647, 657
1963
1127
Pages
Stock: (continued)
Capital: (continued)
Sumiton Bank, Sumiton, Alabama, application
for membership approved, subject
to condition numbered 3, specifying paid-in and unimpaired capital stock of not less than $75,000
and other capital funds of not less
than $50,000
Bank, Austin, Texas, urged to
State
Texas
strengthen capital stock position, noted in advice to FDIC re
continuance of deposit insurance
after withdrawal from membership
in FRSystem
Union Bank and Trust Company, Grand Rapids,
Michigan, Board notes that present capital structure is below
desired level, wishes to emphasize need for providing additional capital funds, in light of approved investment in bank premises
United California Bank, Los Angeles, Calif.:
Deterioration in bank's capital position discussed, Board urges that
plans for substantial strengthening of capital position be expedited, statement contained in
letter approving establishment
of a branch in Huntington Beach,
California
Further reference to anticipation of
plans for strengthening capital
position of, made in letter approving application to establish
a branch
Study of its capital requirements being
made by, letter indicating possibility of issuing debentures,
staff to draft reply
Decision to redraft letter referring to
Bank's plan re possible use of
debentures in augmenting capital,
but not indicating Board's position with respect to
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/12
10/14
2681,2690
3539
9/23
3288
2/13
535, 545
2/26
683, 691
3/20
961
3/22
987
1963
1128
Pages
Stock: (continued)
Capital: (continued)
United California Bank, Los Angeles, Calif.: (continued)
Letter indicating Board's generally unfavorable attitude toward use of
debentures as means of providing
1078,1088
4/1
bank capital, sent to
Plans for improving capital structure
by sale of common stock and capital debentures reviewed, discussion re use of debentures and
participation of Western Bancor7/10 2219,2250
poration
,
Nevada
appliValley Bank of Nevada, Reno,
cation for membership in FRSystem
approved, subject to condition
12/18 4411,4436
numbered 3, re
an:
Warren Bank, Warren, Michig
Placed in problem category due to inadequate capital and unsatisfactory asset condition, bank's
capital considered by the Division of Examinations as insufficient for favorable recommendation re the establishment of an
442
2/5
in-town branch
e
and
possibl
ed
alterSituation discuss
native actions reviewed, arrangements to be made for meeting of
representatives of applicant bank
482
2/7
with Division of Examinations
in
d
light
of
approve
Application
outcome of meeting and attitude
2/21 666, 681
toward capital position
applia,
Montan
kee,
Yellowstone Bank, Absaro
cation for membership in FRSystem
approved, with condition re amount
of paid -in and unimpaired capital
6/20 1993,2020
stock and other capital funds
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1129
Pages
Stock: (continued)
Corporate:
Acquisition by a subsidiary of a State member
bank:
Possibility of violation of section 9,
paragraph 20, FRAct, and section
5136, Revised Statutes, by Bankers
Trust Company of New York through
proposed purchase by its subsidiary BT New York Corporation of
stock of First National Bank of
Farmingdale, New York, situation
being studied
Further consideration, Bankers
Trust Co., position that Comptroller should interpret provisions of section 5136, Revised
Statutes, noted, letter to
Comptroller
Draft of proposed letter to Bankers
Trust Co, transmitted to Comptroller of the Currency for comment
Board's view that section 9, FRAct,
and section 5136, Revised Statutes,
would be vidated by Bankers Trust
Co. through transaction involving
its subsidiary, also that continued retention of stock of subsidiary BT New York Corporation
would not be within the law,
letter to Bankers Trust Co.,
approved
Proposed transaction involving acquisition by Mississippi Valley
Company, wholly-owned subsidiary
of Mercantile Trust Company, St.
Louis, Missouri, thru purchase
of stock of corporations now
subsidiaries of Mercantile Mortgage Company, would violate
section 5136, Revised Statutes,
advice to member bank
Transactions consummated but
Mississippi Valley Co., to dispose of the stock of the corporations within a reasonable
period of time
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/6
782
3/18
896, 927
4/19
1269,1307
4/30
1399,1411
6/20
1996,2022
7/1
2167
1063
1130
Pages
Stock: (continued)
Corporate: (continued)
Mercantile Trust Company, St. Louis, Missouri:
Stock of Ozark Plaza Motor Hotel, Inc.,
acquired through foreclosure proceedings, not considered as a
prohibited purchase of corporate
stock under section 5136 of the
Revised Statutes and section 9
of the FRAct
Letter requesting additional information re financing and corporate
stock of Mercantile Mortgage
Company and other corporations,
acquired through wholly-owned
subsidiary of, letter to FRBank
of St. Louis, stating Bank may
obtain information along lines
described in August 23 memorandum from Bank's Counsel
New Jersey Bank and Trust Company, Clifton,
New Jersey, extension of time to
comply with membership condition
numbered 3, indicating disposal
of all corporate stocks owned at
the time of admission to membership
Edge Act corporations:
General consent for purchase of stock, reviewed for Regulation K revision:
Agreed that clean draft of section
would be prepared
Further discussion, agreed that general
consent should be given when
acquisition consisted of less
than 25 per cent of the voting
stock of a corporation engaged
in banking
Language of revised draft of section
8 acceptable to the Board, agreed
to retain a provision indicating
that Edge corporations could request an advisory opinion of the
Board as to whether a particular
acquisition would be covered by
the general consent
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/21
2028, 2036
9/9
3073,3086-87
7/8
2204, 2210
1/23
232
6/26
2095
8/22
2867
1963
1131
Pages
Stock: (continued)
Edge Act corporations: (continued)
General consents:
Company for Investing Abroad,
Philadelphia, Pennsylvania, effective to June 30, 1963, reference
to June 30, 1963, expiration date
of all outstanding general consents, in light of possible revision of Regulation K and possible
action contemplated
Termination date extended until further
notice to the following: Bankers
International Financing Co., Inc.,
Chase International Investment
Corp., Chemical International
Finance, Ltd., and Morgan Guaranty
International Finance Corp., all
of New York, New York, and First
Pennsylvania Overseas Finance
Corp., Philadelphia International
Investment Corp., and The Company
for Investing Abroad, all of
Philadelphia, Pennsylvania
Terminating general consent for the
following companies to purchase
and hold stock in generally designated types of organizations
in view of adoption of a revised
Regulation K: Bankers International Financing Company, Inc., Chase
International Investment Corp.,
Chemical International Finance
Ltd., and Morgan Guaranty International Finance Corp., all of
New York, New York; Philadelphia
International Investment Corp.,
First Pennsylvania Overseas
Finance Corp., and Company for
Investing Abroad, all of Philadelphia, Pennsylvania, letters
to these companies, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/24
1315, 1332
6/21
2028, 2037
9/12
3132
1963
1132
Pages
Stock: (continued)
Preferred:
Pinconning State Bank, Pinconning, Michigan,
letter to FRBank of Chicago, re
retirement of, issued by, in connection with the merger into
Peoples National Bank and Trust
Company of Bay City, neither permission of FRBank nor Board of
Governors seem necessary or appropriate since another Federal
Agency is authorized to approve
the merger in this instance
Stock exchanges:
New York Stock Exchange, President Funston of,
invited to discuss margin account panel with the Board, meeting between President Funston
and Board subsequently deferred
Pacific Coast Stock Exchange, question as to
length of time the FRBank of San
Francisco, acting as a committee
of, must maintain records relating to extensions of time under
Regulation T, advice to FRBank
of San Francisco, Regulation T,
suggestion by Governor Mills
that FRBank be asked to explore
possibility of discounting this
function and advise Board of its
views, agreed that such a paragraph would be added to letter
St°ck market credit:
Increase in, noted, discussion re possible increase in margin requirements
in light of current developments,
no action to be taken at the
present time but future developments to be followed closely
Regulation of unlisted as well as listed securities:
Favored by Board, understood that comment
would be made to such effect in
letter to Securities Exchange
Commission transmitting report
on survey re loans by member
banks collateralized by stocks
and bonds
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/16
4376,4389
11/4
3761
9/26
3342, 3349
6/26
2112
3/1
737, 754
1963
1133
Pages
Stock market credit: (continued)
Regulation of unlisted as well as listed
securities: (continued)
Memorandum by Mr. Dembitz presenting four
alternative approaches for consideration re broadened statutory authority subjecting all
loans collateralized by both
listed and unlisted securities
to margin regulations, views of
Board members expressed
Regulations T and U amended, to increase margin
and retention requirements from
50 to 70 per cent, press release
to be issued, notice sent to
FRBanks, and to be published in
Federal Register, Governors
Mitchell and Robertson dissenting
Rise in stock market prices in latter half of
October, Mr. Partee and Mrs.
Ulrey of Division of Research
and Statistics presented memorandum to Board re, question
whether tightening in margin requirements was in order, understood discussion would continue
at tomorrow's meeting
Stocks:
Loans with stocks and bonds as collateral, report on survey re, transmitted
to Securities and Exchange Commission
Stratton,
Samuel G., Congressman:
State Bank of Albany, New York, New York, proposed merger with Unadilla National Bank, Unadilla, New York,
reconsideration of Board's denial
re, requested by, request denied
St
American Bankers Association:
Reserve Settlement Periods of Member Banks:
Establishment of a Project Committee
on, to study a proposal for lengthening and staggering the, memorandum from Mr. Noyes recommending
that the Board provide daily statistics on major factors affecting
reserves over a span of six months,
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/15
1220
11/5
3803
11/4
3756
3/1
735, 754
7/29
2498, 2509
5/9
1511, 1521
1963
1134
Pages
S tudies:
(continued)
American Bankers Association: (continued)
Reserve Settlement Periods of Member Banks: (continued)
Understood that Board offers no objection to publication of daily
10/25 3674
figures furnished to
Arizona banking situation, study made in 1956,
certain data re Valley National
Bank of Arizona requested by
Justice Department for use in
civil antitrust suit, FRBank of
San Francisco requested to check
for data in files, letter to
5/14 1564,1572-74
Justice re status of situation
Treasury
in
Bad debt reserves, Board to assist
Department's study of commercial
bank bad debt reserves for tax
purposes, questionnaires sent to
banks to be returned with December
1963 reports of condition, assistance of Board's data processing
11/27 4129
staff to be given
Banking market study, contracted with Economic
Research Institute of Drew University, provisions for cost of
contract to be made in 1964 budget of Division of Research and
10/31 3724
Statistics
Chain Banking activities, adequacy of available
data re, understood that Governor
Mitchell, in consultation with
the Board's staff, would consider
further as to what type of study
3/22 989
might seem appropriate
Condition reports:
Interagency staff group assigned to study
various phases of the call report
procedure, consisting of representatives of the Board, Office
of the Comptroller of the Currency, and FDIC, Board representa1121
4/2
tives Messrs. Noyes and Holland
to
due
g
the
Group no longer functionin
unwillingness of the Comptroller
of the Currency to continue further
studies re, suggestion by the Chairman that the Board's staff proceed
with the study of alternate ways
of obtaining needed statistical
information now obtained through
2537
8/1
the
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1135
Pages
S tudies: (continued)
Emergency plans, relocation facility for joint
use of FRBank of Richmond and
Board, report re joint study by
representatives of FRBank and
Board re
European capital markets, Mr. Gemmill authorized
to travel to England, Netherlands,
France, Germany and Switzerland
to visit central and commercial
banks, and investment bankers,
for purpose of making a study of
Examination report of FRBank of Boston, agreement that a thorough study be
made re, Messrs. Farrell and
Kiley to report to Board after
completing their study, understood that President Ellis should
be told in advance that such a
visit was planned
Federal administrative procedures, letter to Bureau of the Budget transmitting
comments re recommendations in
report to the President by the
Federal Administration Conference
of the United States, created
for the purpose of studying
Financial data for research purposes, memorandum
by Mr. Noyes requesting a contract with University of Wisconsin
methfor an exploratory study
financial
organizing
data
ods of
for research purposes, at a cost
of $25,000 during the year 1964,
principal investigator for project
would be Edgar L. Feige, Assistant
Professor of Economics at University of Wisconsin
Financial institutions:
Interagency committee studying:
Revised draft of proposed report of,
comments by Chairman Martin re
position he should take at next
meeting of, in light of possible
division of opinion within the
Board, matter to be considered
further
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/4
4207,4233
3/18
913
12/2
4165
4/15
1219,1238-39
12/2
4160,4184
3/6
801
1963
1136
Pages
S tudies: (continued)
Financial institutions: (continued)
Interagency committee studying: (continued)
Discussion re topic covered in report
of, Board favorable to elimination
of nonpar banking and unfavorable
as a matter of principle to an increase in Federal deposit insurance,
views re proposed legislation permitting Federal chartering of
mutual savings banks expressed
Question of absorption of exchange
charges to be reviewed by Board
following issuance of report of
Understanding re contribution by Board
toward cost of printing report
re
Foreign investments in the United States, group
formed by the Administration to
study possibilities for encouraging foreign investments in United
States, FRBank of New York to
furnish space for the group and
Vice President Coombs to act as
liaison between the Reserve Bank
and the group
Loans on forest tracts, draft of report on study
re, prepared by staff, with cooperation of the FRBanks and 100
commercial banks, understood report to be submitted in final
form satisfactory to Chairman
Martin for presentation to House
Banking and Currency Committee
Market structure study, letter to Comptroller of
the Currency clarifying incorrect
understanding that Board was making a nation-wide, reference to
a study by FRBank of Richmond
which may have lead to the misunderstanding, bibliography of
studies in banking markets enclosed
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/11
846
3/18
903
4/17
1249
9/19
3249
12/12
6/25
4344
2053, 2065
1963
1137
Pages
Studies:
(continued)
Relative Economic Growth Rates and FiscalMonetary Policies, study made
by Mr. Sprinkel, Vice President,
of Harris Trust and Savings Bank,
Chicago, Illinois, evaluation of
study requested by Senator Proxmire, agreement with suggestion
that each Board member could
handle response, but that a draft
reply would be prepared for Board
consideration
Retirement system:
SEE: Retirement system:
Study of
Safekeeping of securities by FRBanks, President
of Presidents' Conference requested to designate a Committee
to make a study of, and make recommendations re general standards
for, letter to FRBanks listing
precautionary practices re, and
requesting replies re use of
such measures
Salaries for top grade employees at FRBanks other
than officers:
Agreed that Governor Shepardson and Division
of Personnel Administration would
undertake study re possibilities
for dealing with problems experienced by FRBanks in obtaining and
retaining professional persons
such as economists
Results of study could probably be
presented to the Board within a
relatively short time
Memorandum reporting on results of
study, recommendations approved
for grades 12 through 16, with
the understanding that the Board
would approve for any bank an
addition to its normal grade 16
maximum, letter to all FRBanks
except Kansas City
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/25
2443
7/17
2323, 2335
9/23
3268, 3291
10/9
3491
11/13
3919,3939
1963
1138
Pages
S tudies:
(continued)
Savings deposits, definition of:
No objection to appropriate members of
Board's staff participating in
initial meeting pertaining to
study announced recently by FDIC
relating to the definition of
savings deposits
Report by Mr. Hackley on meeting of three
bank supervisory agencies, to
discuss resolution of New Jersey
Bankers Association recommending
change in definition of, suggestion that subject be scheduled
for consideration by Board early
in 1964
Securities Markets, Special Study by Securities
Exchange Commission:
Chapter re security credit in report re, on
which Board's staff cooperated,
proposed method of publication
by SEC approved
Over-the-counter securities, desirable to
try to implement SEC's Special
Study recommendations by drafting a bill that the Board might
introduce jointly with the Securities and Exchange Commission,
Board's staff preparing memorandum summarizing SEC recommendations
Request from SEC for data from Board's survey
of loans by member banks on stocks
and bonds as collateral, for publication in their report re, agreed
to furnish edited data for publishing as requested
Role of credit in the stock market and indication in the SEC's Special Study
that margin requirements then in
effect had reduced volume of forced
selling at the time of the 1962
market break, discussed
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/18
4016
12/18
4422
7/10
2238, 2252
11/4
3768
6/17
1929, 1943
11/5
3805
1963
1139
Pages
S tudies: (continued)
Supervision of the FRBanks, joint study by the
divisions concerned, initiated
by Governor Shepardson
Virginia Commonwealth group, analysis of the
capital requirements of all banks
in the, and the ability of the
holding company to provide needed
capital, to be made by the Division of Examinations
subPoenas:
Arizona banking situation, 1956 study re, certain
data re Valley National Bank of
Arizona requested by Justice Department for use in civil antitrust
suit, also involving Arizona Bank
and Arizona Bancorporation, FRBank
of San Francisco requested to check
for data in files, question re
having Justice Department subpoena
material
MBank of San Francisco:
Subpoenas served on Vice President E. H.
Galvin and Examiner George Walker
of the, ordering access to correspondence and examination reports of Farmers and Merchants
Bank of Long Beach in connection
with possible illegal banking
transactions between member bank
and Messrs. Riedman and Chohon,
agreed to authorize use of only
specific information relevant to
the investigation, Governor Mills
dissenting
S. Attorney Murphy agreed to
U.
nt
Assista
issue a more specific subpoena,
telegram of instructions sent
to FRBank of San Francisco
FRExaminer, FRBank of Dallas:
Subpoenaed to testify at a trial of perjury
charges against the attorney for
the officer of the First State
Bank, Premont, Texas, (operations
suspended effective December 30,
1961) no objection interposed by
Board
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/1
1422
5/20
1647
5/14
1564
5/20
1649
5/20
1652, 1657
4/19
1276
1963
1140
Pages
SuPervision:
FRBanks:
Procedures for examination and
SEE: Examinations:
FRBanks:
Procedures for supervision and
Sur
Audit function survey by FRBank of Philadelphia,
report by Peat, Marwick and
Mitchell covering the results of,
suggestion by Governor Balderston
that the Audit Committees of the
other FRBanks might find it useful, understood that the possibility of distributing copies of the
report would be discussed with
President Bopp
Bank Loans to Foreigners, anticipated that in
connection with the proposed
interest equalization tax now
pending in Congress, the Treasury
might ask the Board to conduct a
survey re, staff to consider the
matter
Bank stock, owned by Class B directors of FRBanks
requested by Professor Mansfield
of the staff of the House Banking
and Currency Committee, no reason
for survey now, since there was
no requirement that Class B
directors could not own bank
stock, Mr. Cardon to talk further
with Professor Mansfield
Chain banking:
Legislative changes suggested by the Patman
report with respect to, staff to
study, question whether reference
should be made in the Board's
1962 annual report, Board to consider further
Not to be included in the annual report
sman Patman, Chairman of
Congres
to
Letter
the House Banking and Currency
Committee, agreeing to furnish
further tabulations as requested
in connection with the
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/30
10/23
2983
3611
7/25
2444
1/9
72
1/22
208
4/19
1262, 1293
1963
1141
Pages
Surveys:
(continued)
Check collection operations at FRBank of Cleveland:
Results indicated certain difficulties,
understood that Chairman Martin
would talk with President Hickman,
observations of Board's examiners
during recent examination noted
Improvement indicated, further improvement
anticipated due to the selection
of Clifford G. Miller, Vice President, as head of the check collection operation
Common trust funds:
Recommended by the Division of Bank Operations that the Board withdraw
from the common trust statistical
field following publication of
the 1962 survey in the May FRBulletin, agreed to discuss with
Bureau of the Budget and withdraw
if no objection is made
Discontinuance of Board's annual survey re,
in light of transfer to the Comptroller of the Currency, the regulatory authority with respect
to, advice to Presidents of all
FRBanks, Comptroller of the Currency plans to conduct an annual
survey re
Consumer finances:
Continuance of second phase obtaining from
Census Bureau information on
changes in financial position by
interviewing participants of
first phase, costs to include
questions on liquidity by Michigan Survey Research Center in its
annual report re, approved
Consumer credit program, costs for contractual
professional services, including
studies and continuing program of
data collection by Census Bureau,
annual data from Michigan Survey
Research Center and quarterly
listings of new finance companies
previously supplied by the Bureau
of Old Age and Survivors Insurance
of HEW, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/25
2060
7/24
2419
3/19
941, 958
8/8
2597, 2629
12/9
4248
12/9
4251, 4272
1963
1142
Pages
Surveys:
(continued)
Correspondent banking of insured commercial banks:
Board's views requested re draft questionnaire from Chairman Patman of the
House Banking and Currency Committee and Board's willingness to
handle collection and tabulation
of, questionnaire transmitted to
FRBanks along with two other questionnaires re proposed surveys
involving insured commercial
banks, understood that further
consideration would follow receipt
of comments from FRBanks
Letter to Congressman Patman agreeing to
perform technical and editorial
services as well as punching and
tabulating of results for all
respondents with supplemental
assistance from outside service
bureaus if necessary, reimbursement from Committee expected for
out-of-pocket expenses in connection with
FDIC advised Board that there had been less
than full response to questionnaire, understood FDIC to take
steps to encourage replies from
all banks that had not responded
FRBank functions, reports on surveys conducted
by Division of Bank Operations,
to be made available to Board
members and to be placed on
agenda if necessary
1962 examFunctional expense survey made during
ond by
Richm
of
k
FRBan
ination of
, retions
Opera
Bank
Division of
of
rs
membe
House
quest from staff
ttee
Commi
ncy
Curre
Banking and
for information re, Mr. Farrell
to proceed, with certain under
standing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/8
10/10
2207
3504, 3523
11/7
3878
6/25
2061
6/19
1974
1963
1143
Pages
Surveys:
(continued)
Interest rates on business loans, by insured commercial banks, requested draft
questionnaire from Chairman Patman of the House Banking and Currency Committee, Board's views
and willingness to handle collection and tabulation of, questionnaire transmitted to FRBanks
along with two other questionnaires re proposed surveys involving insured commercial banks,
understood that further consideration would follow receipt of comments from FRBanks
Interest rates paid on time and savings deposits
by certain member banks approved,
letter to FRBanks, separate letter to FRBanks of New York,
Chicago, and San Francisco requesting interest rate information on foreign time deposits
Loans by member banks collateralized by stocks
and bonds, report re, transmitted
to the Securities and Exchange
Commission, reaffirmation of
Board's position re extension of
authority under Regulation U to
include loans for purchasing overthe-counter securities, change
in legislation required
Loans on securities, Board's survey of banks'
methods and standards in making:
Request from Securities and Exchange Commission for data re, for publication
in report of Special Study of the
Securities Market, agreed to furnish edited data as requested
Proposed method of publication by SEC
approved
at insured
Management succession and compensation
commercial banks:
Draft questionnaire from Chm. Patman of the
House Banking and Currency Committee, Board's views requested and
willingness to handle collection
and tabulation of, questionnaire
transmitted to FRBanks, further
consideration after receipt of
comments from FRBanks
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/8
2207
2/6
469, 473-74
3/1
735, 754
6/17
1929, 1943
7/10
2238, 2252
7/8
2207
1963
1144
Pages
Surveys: (continued)
Management succession and compensation at insured
commercial banks: (continued)
Discussion re expense to Board and lack of
response from commercial banks
receiving questionnaires, as
indicated by comments from FRBanks,
letter to Chairman Patman approved
Salary figures from bank examination reports
requested by a staff member of
the House Banking and Currency
Committee, for use in the survey
re, understood consideration would
be given if formally requested by
the Committee
Figures supplied to Congressman Patman
Outside business and teaching activities, annual
survey of Board's staff by Division of Personnel Administration,
understanding that any individual
reporting writing activity would
be advised of policy re honoraria
and royalties, Governor Shepardson
reviewed information presented and
found nothing to question
Parking, Federal employees, survey made by General
Services Administration, request
from Budget Bureau for comment on
the report recommending Government
monthly charge, and legislation
assuring that agencies now administering their own parking spaces
participate in contemplated program, consensus that Board not
participate, in light of FRAct,
providing Board control of its
building and space, letter to
Budget Bureau approved
Reserves, criteria for granting to member banks
in reserve cities permission to
carry reduced reserves, types of
data might be accumulated to assist
the Board in considering the overall problem, staff to consider
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/25
2437,2450
8/1
8/8
2536
2601,2638
10/3
3425
1/31
392, 408
2/4
422
1963
1145
Pages
Surveys: (continued)
Reserves, criteria for granting to member banks
in reserve cities permission to
carry reduced reserves: (continued)
Memorandum submitted by Messrs. Farrell and
Noyes with attached tables re,
agreed to transmit to FRBanks
assembled data requesting their
views
Letter to all FRBank Presidents approved
Replies from FRBanks reviewed
Retail credit, survey for purpose of reviewing
area of, approved by Board,
questionnaire form attached to
Mr. Noyes' memorandum
Time certificates, negotiable, semiannual survey
consisting of a special confidential report, F.R. 416b, for weekly reporting member banks indicating an outstanding total of
$50 million or more, as recommended by the System Research Advisory
Committee and its subcommittees,
approved by Board, advice to
Presidents of all FRBanks
Virgin Islands, survey of banking facilities by
FRSystem:
Agreed such survey to be made, expense to be
borne by the FRSystem, with details to be arranged by Mr.
Solomon, advice to Acting Chairman of the Banking Board of the
Virgin Islands, Messrs. Leavitt
and Poundstone to participate
in survey, and one representative
from FRBanks of New York and
Philadelphia
Report of findings re, transmitted to Governor of the Virgin Islands, the
Government Secretary, and the
Banking Board, noted that survey
had been requested to aid in considering an application for the
establishment of a branch by a
Canadian bank
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/4
3/22
5/23
759
987, 1007
1724
1/23
227
8/8
2597, 2633
6/4
1820, 1833
8/16
2738, 2740
1963
1146
Pages
Switzerland:
Holding Company for Financing and Credit Ltd.,
("Eurocredit") Basle, Switzerland, consent granted for Morgan
Guaranty International Finance
Corporation, New York, New York,
to purchase shares of
A.G., a new Swiss holding
Factors,
International
company, extension of time granted
to Boston Overseas Financial Corporation, Boston, Massachusetts,
to purchase shares of
SYstem Open Market Account:
FRnotes, securing by pledge of participation in
direct obligations of the United
States in System Open Market Account, proposed amendment to plan
for, sent to FRBank Presidents
and FRAgents requesting views
Plan amended as indicated in previous letter since no adverse comments
received from FRBanks, advice
to FRBank Presidents and FRAgents
14Wan:
China Development Corporation, Taipei, permission
granted to Morgan Guaranty International Banking Corporation,
New York, New York, to purchase
additional shares of
'Lott, Burt L., Congressman:
Disappearance of certain Treasury certificates
from vault at FRBank of San
Francisco, report re incident,
sent to, as member of House Banking and Currency Committee
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/31
380, 395
6/7
1839,1844
2/7
478, 500
3/18
895, 922
7/31
2511,2520
4/1
1079,1090-91
1963
1147
Pages
Taxes:
Depreciation and credit provision adopted in 1962:
Effects of, topic for discussion with FAC
With the exception of certain industries
few effects had been observed that
could be attributed to, views expressed at joint meeting with FAC
Question re possible stimulant to investment
in plant and equipment, topic for
discussion with FAC
FAC believes growing number in business
and financial circles regard, as
more of a stimulant to investment
in plant and equipment in certain
industries than was thought earlier, view expressed at joint
meeting
Treatment of, in reports of examination and
condition reports of State member
banks, advice to FRBank of San
Francisco
Real estate, FRBanks, mentioned in connection
with discussion re FRBank budgets
for first half of 1964, approximately half of increase in gross
expenses was in noncontrollable
expense category, including
Reduction in:
Topic for discussion with FAC in connection
with business outlook
Not regarded as essential to sustained
business expansion this year,
but a reduction in the tax burden
is essential to the longer-term
growth of the economy
Topic of discussion with FAC
Possible reduction in taxes has not
influenced business, plans to
expand were being made with or
without the tax cut
Silver:
Draft bill proposed to terminate special tax
on transfers of silver bullion,
among other things, report sent
to Budget Bureau
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/5
440, 456
2/19
644
4/30
1391,1406
5/21
1666
6/10
1858,1867
12/18
4/30
4417
1391,1406
5/21 1667
10/29 3698,3704
11/19
1/22
4039
213, 224
1963
1148
Pages
Taxes: (continued)
Silver: (continued)
Report on S. 731 a bill to terminate special
tax on transfers of silver bullion,
among other things, sent to Senator Robertson
nt for Chairman Martin re H.R.
stateme
Draft
4413, a bill to repeal the silver
purchase laws and provide for replacement of silver certificates
by FRnotes, understood that the
statement would be put in final
form satisfactory to the Chairman with Governor Mills dissenting from the position expressed
withheld for employees residtaxes
State income
ing in Maryland or Virginia, Office of the Controller authorized
to withhold from salary checks,
if requested in writing
Technicians of Central Banks of the American Continent:
Seventh meeting in Rio de Janeiro, Brazil:
Letter to Bank of Brazil and Superintendency
of Money and Credit accepting
invitation for FRSystem representation, Robert L. Sammons designated
to serve as technical secretary
of the System's delegation whose
names will be furnished later
l attending: Guy E. Noyes,
personne
System
as head of the delegation, David
Grove, Vice President, FRBank of
San Francisco, Frank Schiff, Miss
Madeline McWhinney, and Scott
Pardee, FRBank of New York, and
Robert L. Sammons, Reed J. Irvine,
and Ralph A. Young, of the Board's
staff, Governor Mitchell may attend as an observer, authorization
re travel and per diem for members
of the Board's staff, with representation allowance not to exceed
$500
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/14
553, 564
3/11
841
10/4
3437
2/27
698, 708
4/19
1262,1294
1963
1149
Pages
Technicians of Central Banks of the American Continent: (continued)
Seventh meeting in Rio de Janeiro, Brazil: (continued)
As indicated earlier Governor Mitchell and
Mr. Ralph Young considering what
might be done to make format of
meetings more effective, Governor
Mitchell authorized to discuss
format with Mr. Javier Marquez,
Director of Center for Latin
American Monetary Studies, who
would be in Washington soon,
understood matter of making the
trip would be brought back to
9/19 3245
Board for further consideration
Approval of unbudgeted expenditure for charts
and color film transparencies to
be used by Board's staff members
10/4 3436
attending
Te itlebaum, Louis, Federal Housing Administration:
Consultant services requested by Board, re use of
audit sampling to help determine
the nature and extent of sample
verification that would be valid
in light of the Board's supervisory responsibilities in the examinations of FRBanks, Board pleased
to provide reimbursement for expenses, a fee, or both, either to
FHA or Mr. Teitlebaum, in any man11/20 4069,4088
ner appropriate
le tual Changes in the FRAct and Related Laws, printing of loose-leaf compilation of,
in order to bring up to date a
similar compilation that was contained in "Digest of Rulings"
published by Board in 1937, and
mimeographed supplement in Legal
Division in 1956, understood cost
of, would constitute an overexpenditure for Division of Admin11/5 3813
istrative Services, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1150
Pages
Thailand:
Industrial
Finance Corporation of Thailand,
Bangkok, Thailand:
Bank of America, New York, New York, granted
permission to purchase additional
shares of
Manufacturers Hanover International Finance
Corporation, New York, New York,
granted permission to purchase
stock of
Thomas Craven Film Corporation:
Title:7: Craven, Thomas, Film Corporation
Bank of Boston International, New York, New York,
request by the First Bank of
Boston International, New York,
to amend its Articles of Association to change its name to,
approved
Bank of Prince William, Woodbridge, Virginia,
report on competitive factors to
FDIC on the proposed merger of
The Bank of Occoquan, Virginia,
with The Bank of Nokesville, Inc.,
Nokesville, Virginia, under the
title of, approved
Bank of Sussex County, title under which proposed
merger of Sussex County Trust Company, Franklin, New Jersey, and
Farmers National Bank of Sussex,
New Jersey, would result, merger
application approved
Citizens Trust and Savings Bank, South Haven,
Michigan, to be established as a
result of the consolidation of
Peoples Bank of Bloomingdale,
Michigan, with The Bank of South
Haven, Michigan, application
approved
Issuance of order and statement authorized
Intercounty Trust Company, Monticello, New York,
Sullivan County Trust Company,
Monticello, New York, and The National Bank and Trust Company of
Port Jervis, New York, merged
under title of
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/14
98, 106
7/8
2204, 2213
1/22
206, 216
11/8
3891
5/16
1610
10/8 3462
10/15 3549,3554
3/22
988, 1009
1963
1151
Pages
Titles: (continued)
International Bank of Commerce, Seattle, Washington,
amendment to articles of association of Commerce International
Banking Corporation to change
name to, approved
Northern Central Bank and Trust Company, Williamsport, Pennsylvania, application
of West Branch Bank and Trust Company, Williamsport, Pennsylvania,
to merge with Bank of Newberry,
Williamsport, Pennsylvania, under
title of, approved, Governor
Robertson dissenting
Issuance of order, statement, and dissenting
statement authorized
Travel:
Alaska and Hawaii:
Requests for authorization re travel to,
now to be submitted for approval
in same manner as specified in
Board's travel regulations for
domestic travel, to be handled
by Governor Shepardson to whom
authority was delegated for approving domestic travel
Revision of paragraph 3 of section B of the
Board's travel regulations effective October 9, 1963, to allow
travel to, to be authorized by
the designated Board member or
by the Division Head whichever
is necessary to conform with
paragraph 1 and 2 of section B
Death of an employee while in official travel
status, recommended policy covering payment of expenses incident
to, approved
Employee training and development program:
Secretarial training program to be conducted
by the Katharine Gibbs Consulting
Service, New York, New York, with
the understanding that required
materials be provided by the
Service, Board to pay fee of $400,
plus travel expenses
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
5/10
1531,1534
10/14
3530
10/23
3607,3629-36
10/9
3495
11/20
4077
11/20
4069,4080
4/17
1250
1963
1152
Pages
Travel: (continued)
FRBank of New York, foreign travel program for
personnel of, for 1963, no objection
Hawaii and Alaska:
SEE: Travel:
Alaska and Hawaii
Overseas study program, proposed for a member of
the Board's staff from October
23, 1963, through June 1964, not
approved on basis it did not come
within scope of policy relating
to foreign study and travel assignments
Regulations:
Death of an employee while on official travel, recommended policy approved
Revision of paragraph 3 of section B of the
Board's travel regulations effective October 9, 1963, to allow
travel to Alaska and Hawaii to
be authorized by the designated
Board member or by the Division
Head whichever is necessary to
conform with paragraphs 1 and 2
of section B
Reimbursement of expenses, action allowing payment of moving expenses, transportation, and per diem, as well
as family transportation in connection with the appointment of
Dale K. Osborne, Division of
Data Processing, does not infer
a relaxation of Board's policy
of not paying such expenses except in the case of a person
transferring from a FRBank to
the Board
Representation allowance:
Authorization for, possibility of sharing
with the Treasury the cost of a
dinner for delegates to the Working Party 3 meeting, no action
by Board needed in light of previous authorization for Governor
Shepardson to approve representation expenses in connection with
Mr. Young's attendance at Working
Party 3 meetings
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/7
477, 490
8/21
2838
11/20
4069,4080
11/20
4077
5/6
1485
2/15
577
1963
1153
Pages
Travel: (continued)
Representation allowance: (continued)
Staff of Board attending Seventh Meeting of
Central Bank Technicians of the
American Continent, held at Rio
de Janeiro, Brazil, representation allowance not to exceed
$500, authorized
Young, Ralph A., Director of International
Finance and Adviser to the Board:
Amendment to a previous authorization
to attend meeting of Working
Party 3 on July 12-13, 1963, in
Paris, and to meet with officials
of the British Bank and Treasury
in London on July 14-15, on basis
of actual expenses incurred including official entertainment
Travel to Paris, France, during period
November 1-7, 1963, to attend
regular meeting of Working Party
3 and to meet with representatives of Bank of England and
British Treasury, understood
hotel suite to be reserved for
purpose of latter meeting and
that reimbursement would be
made on basis of expenses incurred during travel, including an allowance for official
entertainment, approved
Staff of Board, Governor Shepardson vested with
authority to approve on behalf
of Board
Authorization to travel to Alaska or Hawaii
for members of the officer staff
of the Board of Governors to be
handled on behalf of the Board
by the member (presently Governor
Shepardson) to whom authority was
delegated for approving domestic
travel
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/19
1294
7/1
2172
10/23
3616
7/23
2385
10/9
3495
1963
1154
Pages
Travel: (continued)
Stenographers and typists, payment of travel expenses for newly appointed, grades
FR-2 and 3, from home to Washington, D.C., with no payment for
interview expenses, memorandum
from Division of Personnel Administration, recommending, approved
Technicians of Central Banks of the American
Continent:
Seventh meeting in Rio de Janeiro, Brazil:
Robert L. Sammons designated to serve
as technical secretary of the
System's delegation whose names
will be furnished later
System personnel attending: Guy E.
Noyes, as head of the delegation,
David Grove, Vice President,
FRBank of San Francisco, Frank
Schiff, Miss Madeline McWhinney,
and Scott Pardee, FRBank of New
York, and Robert L. Sammons, Reed
J. Irvine, and Ralph A. Young, of
the Board's staff, Governor
Mitchell may attend as an observer
travel and per diem for members
of the Board's staff, with representation allowance not to exceed
000, authorized
Typists and stenographers:
SEE: Travel:
Stenographers and typists
(Individual names):
Bach, G. L., Professor, agreed to serve as chairman and organizer for Board's
seminar with academic economists,
payment for travel, telephone, and
secretarial expenses, for which
provision had not been made in
Board's budget, authorized
Governor Mitchell reported on discussions
that he and certain staff members
had with Professor Bach re proposed meeting with Board with
group of academic economists,
understood provision for expense
to be made in budget of Division
of Research and Statistics
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/4
4212
2/27
698, 708
4/19
1262, 1294
10/10
3520
11/13
3931
1963
1155
Pages
Travel: (continued)
Bach, G. L., Professor: (continued)
Currently visiting Ford Research Professor
of Economics, Stanford University,
appointment approved to organize
the consultant group of academic
economists who will be meeting
with the Board, compensation and
necessary travel expenses to be
paid in accordance with Board's
travel regulation and compensation agreement
Barrett, Martin, FRBank of New York, attendance
at Eleventh Training Program of
the Center for Latin American
Monetary Studies to be held in
Mexico City, approved
Bogardus, Janet, Chief Librarian, FRBank of New
York, Board interposes no objection to request from Organization
for Economic Cooperation and
Development for Miss Bogardus to
serve as a consultant in Paris,
France, beginning September 12,
1963, on a leave without pay
basis
Brill, Daniel H., Adviser, Division of Research
and Statistics:
with Mr. Young to attend
Paris
to
Travel
meeting of Working Party 3,
Economic Policy Committee, OECD
and to spend three additional
days in Paris visiting research
staff of the Bank of France and
French financial industry executives, authorized
Travel to Basle, Switzerland, October 12-14,
1963, to attend meeting of central
bank economists, to go to OECD
meeting in Paris, October 21, and
to Bank of England, and National
Institute of Economic and Social
Research, authorized
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/9
4264,4313
2/20
647, 654
8/12
2700,2708
4/9
1181
9/19
3245,3260
1963
1156
Pages
Travel: (continued)
Burr, Susan B., Consultant for Division of Research
and Statistics, formerly Associate
Adviser in that Division, appointment on a temporary contractual
basis, effective to December 31,
1963, with compensation and if
in travel status, transportation
expenses and per diem in accordance with Board's travel regulations, approved
Reappointment on temporary contractual basis,
January 1 - December 31, 1964,
with compensation at the rate of
$50 per day for each day worked,
and with transportation expenses
and per diem in lieu of subsistence in amount of $16 in connection with official assignments,
approved
Clarke, John J., Assistant General Counsel,
FRBank of New York, leave of
absence plus travel time granted
to lecture at the Center for
Latin American Monetary Studies
in Mexico City, Board interposes
no objection
Dembitz, Lewis N., Associate Adviser, Division of
Research and Statistics, request
from Agency for International
Development of the State Department, for reimbursable detail
of, to accompany mission to
Brazil and to make certain recommendations, approved
Eastburn, David, FRBank of Philadelphia, to attend
meeting of Bank for International
Settlements, to discuss matters
pertaining to Euro-dollar market,
Basle, Switzerland, November 9-11,
1963, Messrs. Samuel I. Katz of
Board's staff and Fred Klopstock
of FRBank of New York to attend
meeting also
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/6
12/26
2579
4551-52
4/19
1261, 1278
7/10
2242
9/19
3245, 3261
1963
1157
Pages
Travel: (continued)
Ellis, George H., President of the FRBank of Boston,
to attend the annual meeting of the
Bank for International Settlements
in Basle, Switzerland in June, also visiting several European central banks
Emery, Robert F., Economist, Division of International Finance, authorized to
serve as a U.S. representative
to ECAFE Working Party on Economic Development and Planning to
be held in Bangkok, Thailand,
September 16-23, 1963, with the
understanding that his travel
would be at Board expense and
that his trip would include
visits to Japan and other countries
Farrell, John R., Director, Division of Bank
Operations, travel to West Point,
New York, with Messrs. Harris and
Solomon, to study possibility of
storing gold to supplement the
vault facilities at the FRBank of
New York
Feige, Edgar, Consultant, Division of Research
and Statistics, appointment on
temporary contractual basis,
approved, with understanding re
compensation, travel expenses,
and per diem
Fox, Karl A., Professor, Iowa State University,
appointment as consultant in
Division of Research and Statistics, approved, effective to
December 31, 1963, on temporary
contractual basis with compensation at the rate of $75 per day
for each day worked plus transportation expenses and per diem
Friend, Irwin, Professor, University of Pennsylvania, appointment as consultant
in Division of Research and Statistics, approved, effective to
December 31, 1963, on temporary
contractual basis with compensation at the rate of $75 per day
for each day worked plus transportation expenses and per diem
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/7
822
8/9
2663
7/10
2241
5/29
1797
11/13
3932
11/13
3932
1963
1158
Pages
Travel: (continued)
Garvy, George, Economic Adviser, FRBank of
New York:
Designation as alternate for Alan Holmes,
Vice President, FRBank of New
York, as a System representative at the meeting of central
bank economists to be held March
9-11, 1963, at the Bank for International Settlements, Basle, Switzerland
Designated as representative to attend meeting of central bank economists
in Basle, Switzerland, October
12-14, 1963, theme of meeting
will be "Structure and Functioning of Capital Market in Individual Countries': Mr. Daniel H.
Brill of Board's staff also to
attend the meeting
Gemmill, Robert F., Economist, Division of International Finance, authorized to
travel to England, Netherlands,
France, Germany, and Switzerland
to visit central and commercial
banks, and investment bankers
for the purpose of making a study
of European capital markets, also to accompany Mr. Young to the
meeting of Working Party 3,
Economic Policy Committee, Organization for Economic Cooperation
and Development
Goodfellow, Allen F., Examiner, FRBank of San
Francisco, arrangements for
assignment to Board's Division
of Examinations for approximately
3 months, with understanding re
designation as a FRExaminer,
salary, and travel expenses
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/31
393
9/19
3245, 3260
3/18
913
5/23
1729
1963
1159
Pages
Travel: (continued)
Goodman, Glenn M., Assistant Director, Division
of Examinations, to attend annual
meeting of Association for Bank
Audit, Control, and Operation,
in Minneapolis, Minnesota, Sept.
15-18, 1963, with understanding
that registration fees, and similar expenses would be paid by the
Board, Messrs. James C. Smith and
Schaeffer also to attend NABAC
meeting
Grove, David L., Vice President, FRBank of San
Francisco, services to be made
available to Bank of Guatemala
to assist in a revision of the
banking legislation of Guatemala,
no objection by Board re financial arrangements
Guthrie, Harold W., Consultant, Divison of
Research and Statistics, appointment on a temporary contractual
basis, approved with understanding
re headquarters, compensation,
transportation, and per diem
Hall, George R., Consultant, appointment approved
with understanding re compensation, transportation expenses,
and per diem
Hanna, Frank A., Consultant, in Division of
Research and Statistics (Professor of Economics, Duke University), appointment effective to
December 31, 1963, on a temporary
contractual basis, with pay at
$75 per day for each day worked,
with transportation expenses and
per diem, approved
Harris, Innis D., Coordinator, Office of Defense
Planning, travel to West Point,
New York, with Messrs. Farrell
and Solomon, to study possibility of storing gold in facilities there, to supplement vault
facilities at FRBank of New York
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/3
3008
3/28
1048, 1061
5/23
1729
3/27
1037
8/6
2580
7/10
2241
1963
1160
Pages
Travel: (continued)
Hersey, Arthur B., Adviser, Division of International Finance:
Authorized to travel to Paris to attend
meeting on January 22-23, 1963,
of Working Party 3, Economic
Policy Committee of the Organization for Economic Cooperation and
Development, in place of Mr.
Young
Attendance at a meeting of balance of payments experts, in Paris, March
19-21, 1963, under the auspices
of the International Monetary
Fund, and a few days at the Bank
of France, authorized
Authorized to attend the meeting of the
Economic Policy Committee of the
Organization for Economic Cooperation and Development, on July 10
and 11, 1963, and the meeting of
Working Party 3, also authorized
to visit the German Federal Bank
and the Bank of Italy
Authorized to give lectures during February
1964 at the next SEANZA Central
Banking Course in accordance
with a request from the Governor
of the State Bank of Pakistan
and to undertake certain other
foreign visits during the trip,
reimbursement of expenses to be
reviewed by Messrs. Ralph Young
and Hersey, and the Board's
Controller
Hochstatter, Robert J., Examiner, FRBank of
Chicago, temporary assignment to
the Board's Division of Examinations, approved, to be designated
as FRExaminer, FRBank of Chicago
to absorb salary and travel expenses
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/18
174
3/7
822
6/7
1841
9/23
3279, 3293
1963
1161
Pages
Travel: (continued)
Holland, Robert C., Adviser, Division of Research
and Statistics:
Approval to accompany Mr. Ralph Young to
meeting of Working Party 3,
Economic Policy Committee of
the Organization for Economic
Cooperation and Development
February 25-29, 1963, in Paris
Approval to accompany Governor Robertson
to the annual meeting of the
Bank for International Settlements in Basle, Switzerland,
and also to visit several
European central banks, authorization of specific travel
expenses subject to Governor
Shepard son's approval
Holmes, Alan, Vice President, FRBank of New
York, to serve as a System
representative at the meeting
of central bank economists to
be held March 9-11, 1963, at
the Bank for International
Settlements, Basle, Switzerland
Irons, Watrous H., President, Federal Reserve
Bank of Dallas, to attend October monthly meeting of Bank for
International Settlements, trip
noted without objection
Irvine, Reed J., Chief, Asia, Africa, and Latin
America Section, Division of
International Finance, authorized
to spend 10 days in the interior
of Brazil, following the meeting
of Technicians of Central Banks
of the American Continent held
recently in Rio de Janeiro,
Brazil, to be allowed the usual
per diem and necessary transportation costs (not to exceed
$200)
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/15
577
3/7
821
1/31
393
8/30
2988
11/6
3829
1963
1162
Pages
Travel: (continued)
Kareken, John H , Professor, University of
Minnesota, no objection to appointment as Consultant, to
work on monetary, fiscal, and
banking problems, have access
to FOMC minutes and other confidential material, make visits
to FRBank of New York to observe
open market operations, and to
attend some FOMC meetings, with
compensation of $7,000 for nine
months of work, no fringe benefits involved and no deductions
for Federal or State taxes
Katz, Arnold, Assistant Professor, Economics,
Columbia University, appointment as Consultant in the Division of Research and Statistics,
on a temporary contractual basis
approved, compensation at the
rate of $40 per day, for each
day worked, with transportation
expenses and per diem allowance
Katz, Samuel I., Associate Adviser, Division of
International Finance, authorized
to attend meeting of Working
Party 2, OECD, Paris, November
4-5, meeting at Bank for International Settlements, Basle,
Switzerland, November 9-11, and
from November 18-23, 1963, renew contacts made in London during Rockefeller year
Kaufman, Richard, Economist, Division of International Finance, temporary detail to Agency for International
Development to assist in study
in Viet-Nam, approved, including travel to Singapore, Malaya,
Thailand, India, and Pakistan,
with understanding re salary,
travel, and per diem expenditures
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/23
2907
3/11
857
9/19
3245, 3261
3/27
1033, 1039
1963
1163
Pages
Travel: (continued)
Klopstock, Fred, FRBank of New York, to attend
meeting of Bank for International
Settlements, to discuss matters
pertaining to Euro-dollar market,
Basle, Switzerland, November 911, 1963
Lang, Peter P., Adviser, FRBank of New York,
assigned to assist technically
the National Bank of the Congo,
in initiating a multiple currency system as requested by the
Agency for International Development and the Treasury, noted by
Chairman Martin that the practice
of informing the Board after the
decision had been reached was not
desirable, no objection to be
interposed but procedure for future assignments to be discussed
with President Hayes
Latham, Earle 0., First Vice President, FRBank
of Boston, contemplated availability for a technical assistance assignment to act as adviser to The State Bank of
Ethiopia for a period not to
exceed three months, FRBank to
grant leave of absence with pay,
any additional expenses to be
borne by The State Bank of
Ethiopia, Board interposes no
objection if Boston Directors
approve
Leavitt, Brenton C., Assistant Director, Division of Examinations, to participate in Virgin Islands banking
survey, and visit banks in Puerto
Rico, understood the expense of
the survey to be borne by the
FRSystem
Maroni, Yves, Senior Economist, Division of International Finance, recommendation
to include as a member of the U.S.
delegation to the Tenth Session
of U.N. Economic Comm. for Latin
America, approved, authorized to
visit central banks in Argentina,
Chile, Peru, and Colombia, Board
to pay travel and per diem costs
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/19
3261
5/20
1653
11/8
3891, 3906
6/4
1820, 1833
4/17
1245, 1257
1963
1164
Pages
Travel: (continued)
McCuen, William J., Jr., FRBank of Philadelphia,
assignment to Board's Division
of Examinations for approximately
three months approved, FRBank to
absorb salary and travel expenses
McGill, Dan, Professor, extension of contract to
cover the period January thru
June 1963, with compensation at
the rate of $200 per day worked
plus necessary expenses, approved, budget overexpenditure
authorized
McIntosh, James A., Technical Assistant, Division
of Bank Operations, recipient of
Career Education Award from National Institute of Public Affairs
granted leave for academic year
of study at Stanford University,
Palo Alto, California, with pay,
travel cost for self and family,
plus necessary per diem, Board to
pay all costs re move direct to
carrier and storage company, expenses in connection with visit
to FRBank of San Francisco, understood Mr. McIntosh may submit revised estimate of expenses, not
to be considered a precedent for
future award winners
McKie, James W., Consultant, appointment approved
with understanding re compensation, transportation expenses,
and per diem
Mills, Rodney, Economist, Division of International Finance, designated to visit
the Bank of Spain for a period of
one month during 1964, under an
exchange program, each institution
to exchange economists and provide
for their respective expenses
Authorized to extend travel for two weeks
in order to visit the central
banks of Italy and France
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/23
2386
2/27
704
8/22
2874
3/27
1037
10/23
3617
12/24
4532
1963
1165
Pages
Travel: (continued)
Nettles, James K., Economist, Division of International Finance:
Designated as lecturer in the eleventh regular training program held in
Mexico City, Mexico, with per
diem allowance
Designation to attend Fiftieth National
Foreign Trade Convention, to be
held in New York City, November
18, 19, and 20, 1963, approved
Noyes, Guy E., Director of Division of Research
and Statistics, authorized to
attend the meeting of central
bank economists to be held at
the Bank of International Settlements, Basle, Switzerland,
March 9-11, 1963, with the understanding that another senior staff
member would serve as alternate
Osborne, Dale K., Economist, Division of Data
Processing, memorandum indicating
that approval of appointment of,
was with the understanding that
the Board would pay moving expenses, transportation, and per
diem for him, and transportation
for his family to Washington,
D.C., approved, action does not
infer a relaxation of Board's
policy of not paying such expenses
except in the case of a person
transferring from a FRBank to
the Board
Phillips, Almarin, Consultant:
Reappointment in Division of Research and
Statistics for 1963 on a temporary contractual basis, approved,
with understanding re compensation and transportation expenses
Reappointment for January 1 - December 31,
1964, with compensation at the
rate of $75 per day worked, and
per diem in lieu of subsistence
in the amount of $16 in connection with official assignments,
approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/10
10/16
1191
3574
1/31
393
5/6
1485
1/7
40
12/26
4551-52
1963
1166
Pages
Travel: (continued)
Phillips, Charles F., Jr., Consultant, appointment approved with understanding
re compensation, transportation
expenses, and per diem
Poundstone, John M., Review Examiner, to participate in Virgin Islands banking
survey, and visit banks in Puerto
Rico following the survey, understood expense of survey to be
borne by FRSystem
E.,
John
Chief, Special Studies and
Reynolds,
Operations Section, Division of
International Finance, travel
to Paris to attend meeting of
Working Party 2, Economic Policy
Committee, Organization for
Economic Cooperation and Development, authorized
to attend the annual meeting
L.,
J.
Robertson,
of the Bank for International
Settlements in Basle, Switzerland, and also to visit several
European central banks, request
for Mr. Holland, Adviser in the
Division of Research and Statistics to accompany him, approved
Sammons, Robert L., Adviser, Division of International Finance:
Designation to serve as technical secretary
of the System's delegation at
the meeting of Technicians of
Central Banks of the American
Continent, in Rio de Janeiro,
Brazil, beginning October 14,
1963, approved
Authorized to travel to Paris to attend a
meeting of Working Party 2 of
the Economic Policy Committee
of the Organization for Economic
Cooperation and Development, to
be held July 15-16
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/27
1037
6/4
1820, 1833
2/7
489
3/7
821
2/27
698, 708
6/26
2113
1963
1167
Pages
Travel: (continued)
Saimuons, Robert L., Adviser, Division of International Finance: (continued)
Authorized to attend first meeting, October
10-11, 1963, Ottawa, Canada, of
the joint working party of senior
technicians to examine interrelationships between U.S. and Canadian money markets, authorization
to cover additional trips when
submitted to Board member delegated to approve
Authorized to attend meeting of steering
committee of Center for Latin
American Monetary Studies to be
held in Mexico City in January
1964, and other similar meetings
proposed in near future, Mr.
Young of Board's staff also to
attend
Schaeffer, Lloyd M., Chief Federal Reserve Examiner, Division of Examinations,
attendance at meeting of NABAC,
Association for Bank Audit, Control and Operation, in Minneapolis,
Minnesota, September 15-18, 1963,
with understanding that registration fees and similar expenses
would be paid by the Board,
approved
Schlesinger, James R., Consultant, reappointment
as Consultant in Division of
Research and Statistics for 1963
on a temporary contractual basis,
approved with understanding re
compensation and transportation
expenses
Smith, James C., Assistant Director, Division of
Examinations, attendance at annual
meeting of Association for Bank
Audit, Control and Operation,
in Minneapolis, Minnesota, Sept.
15-18, 1963, with understanding
that registration fees and similar expenses would be paid by
Board, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/27
11/27
3363
4125
9/3
3008
1/7
40
9/3
3008
1963
1168
Pages
Travel: (continued)
Solomon, Frederic, Director, Division of
Examinations:
Travel to West Point, New York, with Messrs.
Harris and Farrell to study possibility of storing gold in facilities there, to supplement vault
facilities at FRBank of New York,
approved
Travel to Williamsburg, Virginia, with three
other officials of the Division
of Examinations, to attend meeting of National Association of
Supervisors of State Banks,
October 1-4, 1963, with understanding that registration fees
would be paid by the Board,
approved
Solomon, Robert, Associate Adviser, Division of
Research and Statistics, authorized to travel to Paris to attend a meeting of Working Party
3 of the Economic Policy Committee of the Organization for
Economic Cooperation and Development, and to visit the Bank of
France, June 15-22, 1963
Sterkel, Ronald, Associate Professor of Fine
Arts, University of Illinois,
appointment as Consultant in
Division of Research and Statistics, approved, with compensation at the rate of $50 per day
worked, and transportation expenses and per diem in accordance
with the Board's travel regulations
Suits, Daniel B., Professor, University of Michigan, appointment as Consultant
in Division of Research and Statistics, approved, with compensation at the rate of $75 per day
worked, and payment of transportation expenses and per diem
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7/10
2241
8/12
2686
6/26
2114
12/2
4173
11/13
3932
1963
1169
Pages
Travel: (continued)
Swerling, Boris, Senior Economist, Division of
International Finance, authorized
to accept an invitation from the
Center for Cultural and Technical
Interchanges between the East
and West, University of Hawaii,
Honolulu, Hawaii, to deliver a
paper, understanding that expenses would be paid by the
Board on a nonreimbursable basis
Taylor, Stephen P., Chief, Flow of Funds and Savings Section, Division of Research
and Statistics, authorized to attend a meeting of the Working
Group on Statistics of Financial
Assets and Liabilities, Conference
of European Statisticians, in
Geneva, Switzerland, at the Board's
expense, itinerary to include
visits to OECD in Paris, BIS in
Basle, Bundesbank in Frankfurt,
and Bank of England in London
E., Consultant in the DiviLawrence
Thompson,
sion of Research and Statistics,
appointment on temporary contractual basis and compensation approved, with understanding re
travel expenses
Weiss, Gertrude, Consultant:
Reappointment in Division of Research and
Statistics, approved, with understanding re compensation and
transportation expenses
Reappointment on temporary contractual basis,
effective as of January 1-December 31, 1964, with compensation
at the rate of $65 per day worked,
with transportation expenses and
per diem in lieu of subsistence
in the amount of $16 when on official travel
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/9
3495
2/14
552, 562
1/25
277
1/7
42
12/26
4551-52
1963
1170
Pages
Travel: (continued)
Wicker, E. R., Professor, Indiana University,
Bloomington, Indiana, memorandum
by Mr. Sherman recommending the
appointment of, on a temporary
contractual basis with compensation at $50 a day and transportation expenses and per diem, to
review and evaluate the Board's
records, approved
Woodruff, Ralph S., of the Bureau of the Census,
reappointment as Consultant in
the Division of Research and
Statistics, approved, with compensation at the rate of $57.92
per day worked and with the understanding that any travel performed
would be in accordance with the
Board's travel regulations
Wright, David McCord, Dr., Professor of Economics,
University of Georgia, no objection to Dr. Wright working as
part-time consultant at the
FRBank of Atlanta with compensation at the rate of $75 per day
worked, plus travel and other outof-pocket expenses
Young, Ralph A., Adviser to the Board and Director
of Division of International Finance:
Permission granted to make a one-day stopover
in London, England, following a
meeting of Working Party 3, to
confer with officials of the
British Treasury and the Bank of
England, with reimbursement on
actual expense basis including
official entertainment
Understanding re proposed trip to
England
Request that previous authorization to travel to Paris to attend meeting
on April 29-30, 1963, of Working
Party 3, Economic Policy Committee, OECD, be expanded to include
2-day stopover in London to consult with British Bank and Treasury officials, approved
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/12
1908
1/9
74
8/23
2907
1/16
133
1/18
174
5/13
1543
1963
1171
Pages
Travel: (continued)
Young, Ralph A., Adviser to the Board and Director
of Division of International
Finance: (continued)
Travel to Europe during period June 18-July
12 to attend certain meetings of
Organization for Economic Cooperation and Development in Paris, and
to meetings with British bank and
Treasury officials in London,
authorized on an actual expenses
incurred basis, including official
entertainment, with understanding
that the period between June 22
and July 9 would be charged to
annual leave
Amendment to previous authorization,
approved
Travel to Paris, France, during period Nov.
1-7, 1963, to attend regular
meetings of Working Party 3 and
Economic Policy Committee of
Organization for Economic Cooperation and Development, and
meeting with representatives of
Bank of England and British Treasury, understood hotel suite to
be reserved for purpose of latter meeting and that reimbursement would be made on basis of
expenses incurred during travel,
including an allowance for official entertainment, approved
Authorized to attend meeting of steering
committee of Center for Latin
American Monetary Studies to be
held in Mexico City in January
1964 and other similar meetings
proposed in near future
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/4
1823
7/1
2172
10/23
3616
11/27
4125
1963
1172
Pages
Treasury Department:
Bad debt reserves for tax purposes:
Board to assist in a study by, Treasury
questionnaires to be sent to
each State member bank, similar
requests being made to the Comptroller of the Currency with
respect to national banks and
FDIC for nonmember insured banks,
questionnaire to be returned with
December 1963 reports of condition, assistance of Board's data
processing staff to be given
Questionnaire prepared by, for use by State
member banks in reporting supplementary information re, forwarded to each State member bank
in connection with forthcoming
year-end call report
Bonds, S. 1331, a bill to authorize the Treasury
to issue "constant purchasing
power bonds", to compensate for
increases in cost of living, and
assist individuals to obtain
protected retirement benefits,
unfavorable report to Budget
Bureau
Counterfeit currency, list of attorneys at FRBanks
qualified to testify before Canadian courts in counterfeiting
cases, transmitted to, with letters of advice to affected FRBanks,
decision to expand letter to include names of FRBanks of New
York, Cleveland, and San Francisco
Currency:
Denominations larger than $100, letter from,
transmitted to Presidents of all
FRBanks, re question of whether
there is need for currency in
denominations larger than $100
Shipment of new FRnotes and new Treasury
Currency:
Discussion re proposal of Brink's,Inc.,
with respect to, as opposed to
Post Office facilities, understood that the Treasury and Post
Office Departments would be contacted prior to further consideration by Board
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/27
4129
12/19
4466,4484
5/29
1794,1800
12/2
4160, 4181
12/2
4160, 4185
1/9
64
1963
1173
Pages
Treasury Department: (continued)
Currency: (continued)
Shipment of new FRnotes and new Treasury
Currency: (continued)
Report by Chairman Martin re conversations with Secretary Dillon,
agreed Post Office Department to
be contacted following receipt
of views from
Position of, re proposal of Brink's,
Incorporated, involving combination of air-truck transportation,
reported by Chairman Martin
Offer made by Brink's, Incorporated, to
transport new currency from
Washington to the various FRBanks
and branches, no objection by
Treasury and Post Office Departments, Board would not object in
principles to the use of private
carriers, advice to Eliot J. Swan,
Chairman of the Committee on
Miscellaneous Operations
Deposit insurance bill, revised draft, now containing seven proposed changes, request for Board's views from staff
member of, following discussion,
agreed Board would not reply formally, telephone advice to be
given Treasury and Budget Bureau
Disappearance of certain Treasury certificates of
indebtedness from the FRBank of
San Francisco vault, comments in
San Francisco Examiner, newspaper
article referring to Secret Service to be verified with
Dormant accounts (funds) either of U.S. Government origin or apparently belonging to the Government, proposed
action by the Fiscal Service of,
in sending letters to all insured
banks requesting reports re, approval by Board
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
3/6
799
4/12
1209
5/9
1510, 1519
6/4
1815
3/27
1035
5/23
1720, 1745
1963
1174
Pages
Treasury Department: (continued)
Economic consultants to, Governor Mitchell reported informally on recent meeting he had attended with
Economists:
Meetings of:
Report by Governor Mitchell re
Report by Governor Mitchell re
FRnotes:
One dollar denomination:
Proposed form of, received from, agreement by Board that legend should
be changed deleting phrase "redeemable in lawful money" and
having only "This note is legal
tender for all debts, public and
private", advice to Treasury,
agreed similar change should be
made on all FRnotes
Treasury Department and Board drafting
press statement announcing issuance of new $1 FRnotes in November,
FRBanks asked for comments on distribution of low-numbered notes,
suggestion very low numbered
notes be kept in archives of
FRBanks and Board
Discussion, with no specific decision
reached, of an inquiry by Treasury Department concerning possible availability of low-numbered $1 FRnotes of FRBank of
Chicago
Question of single issue and local
destruction of, Board's reply to
inquiry re views on, from House
Legal and Monetary Affairs Subcommittee sent in draft form to,
for review
exemption from interest
deposits,
time
Foreign
rate limitations on, pursuant
to P.L. 87-827, discussion re
applicability of time deposits
of European Coal and Steel Community, Chairman Martin indicated
that he would endeavor to discuss
subject with Under Secretary
Roosa of the
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/13
3931
4/3
5/29
1137
1795
6/19
1973, 1981
10/21
3589,3597
11/26
4097
7/10
2231
1/10
82
1963
1175
Pages
Treasury Department: (continued)
Schott, Francis H., Manager, Foreign Department
of the FRBank of New York, permission granted for extension of
leave of absence with pay to continue to serve in the Office of
the Under Secretary of the Treasury for Monetary Affairs
Trued, Merlyn N., formerly Assistant Vice President of the FRBank of New York,
appointment as Deputy Assistant
Secretary of the, Board agrees
that service is deemed to be in
the public interest within the
meaning of section 5A of the
Rules and Regulations of the Retirement System
Trust funds:
Common:
Survey re:
Recommended by the Division of Bank
Operations that the Board withdraw from the common trust statistical field following publication of the 1962 survey in
the May FRBulletin, agreed to
discuss with Bureau of the Budget
and withdraw if no objection is
made
Discontinuance of Board's annual, in
light of transfer to the Comptroller of the Currency regulatory authority with respect to,
advice to Presidents of all
FRBanks, Comptroller of the Currency plans to conduct an annual
survey re
Comptroller of the Currency's Manual for
Representatives in Trusts, priced
at $50 per copy for most parties
other than National Banks, Board
approved action recommended by
the Division of Examinations to
reproduce manuals at the Board
for System use
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/4
3, 7
2/21
665, 673
3/19
941, 958
8/8
2597,2629
9/9
3073
1963
1176
Pages
Turkey:
Foreign trade bank:
Proposed in Istanbul, Turkey, permission
granted Bank of America, New
York, New York, to purchase stock
of
Consent terminated
Truth-in-lending legislation:
SEE: Legislation:
Finance charges:
6/4
1813,1826
12/11 4323,4340
liUll
Unemployment:
Improvement in:
Topic' for discussion with FAC
FAC does not anticipate a sufficiently
sharp rise in business activity
to result in a substantial reduction in unemployment in the
near future, views expressed at
joint meeting
Uni-Serv Corporation:
Noncash items, amendment to Regulation G,re definition of, advice re effective
date of amendment sent to, in
light of comments received from
United Nations:
Time deposits of U.N. Special Fund and U.N.
Technical Assistance Administration:
Question re eligibility for exemption of
foreign time deposits from interest rate limitations, agreed to
defer final decision pending
meeting with representatives of
European Coal and Steel Community
Determined exemption from interest rate
limitations of foreign time deposits not applicable to, advice
to FREank of New York indicating
that interpretation should not
be made public
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/30
1391,1406
5/21
1663
1/7
34, 54
1/18
171
2/14
557, 567
1963
1177
Pages
United Nations Economic Commission for Latin America:
Tenth Session of the, to be held in Mar del
Plata, Argentina, Yves Maroni,
Senior Economist, Division of
International Finance, to attend
as a member of the U.S. Delegation,
Board to pay travel and per diem
costs
Plan of Citizens Bank & Trust
Account
Security
United
Company, Park Ridge, Illinois:
SEE: Deposits:
Savings:
United Security Account Plan
United States Administrative Court:
H.R. 43, a bill to amend Title 28 of the United
States Code to provide for, report to Congressman Celler, Chairman of the House Judiciary Committee, approved
United States Code:
Title 28:
H.R. 43, a bill to amend, to provide for a
United States Administrative
Court, report to Congressman
Celler, Chairman of the House
Judiciary Committee, approved
practices:
unsound
Unsafe and
Finder's fee, question from B. C. Morton Organization, Inc., Boston, Massachusetts,
re payment by a bank of a, for
moneys referred to them by a third
party for certificates of deposit,
possibility of being considered
as an, advice to FRBank of Boston
Utah, State of:
Branch banks, domestic, noted that it appeared
under State law that no new
branch could be established in
the city of Ogden, unless the
bank seeking to establish took
over an existing bank, Board
confined its actions to authority
under Federal law in approving
the establishment of a branch
bank by Commercial Security Bank,
Ogden, Utah
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
4/17
1245, 1257
4/30
1392, 1408
4/30
1392,1408
6/7
1840,1846
10/24
3641,3660
1963
1178
Pages
IV!
Vaults:
Currency, emergency, plans for emergency relocation facility for the joint use
of the FRBank of Richmond and
the Board to include, agreed to
advise the Bank re Board's concurrence in the proposal
FRBank of New York:
Gold storage facilities, proposed alterations to:
Letter from FRBank of New York re,
question by Governor Mitchell re
possible use of facilities available at U.S. Assay Office in New
York City, at least for gold
owned by International Monetary
Fund, meeting with President
Hayes to be arranged
Meeting of Messrs. Hayes, Coombs, and
Harris with Board re, further
discussion re possible storage
of gold of International Monetary
Fund in other quarters, FRBank
of New York in favor of expanding facilities at the Bank
rather than alternatives
Noted that the vault in U.S. Assay Office in New York City not adequate as a facility for gold,
agreed Messrs. Farrell, Solomon,
and Harris visit New York and
also silver storage facilities
at West Point, New York, to
study possible alternatives to
enlarging vault at Federal
Reserve Bank of New York
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/4
4207,4233
6/10
1864
6/18
1964
7/10
2241
1963
1179
Pages
Vaults: (continued)
FRBank of New York: (continued)
Gold storage facilities, proposed alterations
to: (continued)
Memorandum from Messrs. Farrell, Solomon,
and Harris analyzing plans for additional, Board approved plan at
FRBank of New York to convert an
area adjacent to the present gold
vault to use for gold storage,
Governor Robertson felt that consideration should be given re
possible movement of some gold
out of New York City to West
Point purely as a civil defense
precaution
Venezuela:
Venezolana de Desarrollo, C.A. (Sociedad Financiera), Caracas, Venezuela:
to Chemical International
granted
Consent
Finance, Ltd., New York, New
York, to purchase shares of
Consent granted to Manufacturers Hanover
International Finance Corporation, New York, New York to purchase shares of
Viet-Nam:
Study being conducted by Agency of International
Development in, temporary detail
of Mr. Kaufman to take part in,
approved, with understanding re
travel and per diem expenditures
and re salary
Violations.
Bank Holding Company Act of 1956, section 6(a)(2),
request for interpretation of,
in connection with possible violation by Bank of Virginia,
Richmond, Virginia, Board concludes
violation occured when Bank accepted stock of Virginia Commonwealth Corporation in exchange
for stock in The Bank of Henrico,
advice to FRBank of Richmond
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/23
3279
9/12
3133,3146
9/12
3133,3147
3/27
1033,1039
5/6
1477,1499
1963
1180
Pages
Violations: (continued)
Cheshier, William E., designation as special assistant examiner for FRBank of Dallas
canceled, Board notes decision not
to report to Department of Justice
and FBI probable criminal violations of Mr. Cheshier and Texas
Bank & Trust Company of Dallas,
Texas, a State member bank
Regulation 0, executive offices of member banks,
loans to, program of split-dollar life insurance for bank managerial employees, question from
FRBank of Dallas and other Federal Reserve Banks as to whether
this program would result in the
executive officer being indebted
to his bank in excess of $2500,
which is prohibited by sec. 22(g)
of the FRAct and Regulation 0,
Board's view that no violation
is involved, copies of reply to
all FRBanks
Regulation Q:
Arnold Savings Bank, Arnold, Missouri, practice of, in maintaining an account with a nonpar bank which
paid nonpar checks without deducting exchange charges, violation
discussed, agreed on no action
at present time
Time certificates of deposit:
Exchange of outstanding certificates
having maturities of 12 months
or more, for new certificates
having maturities of 90 days or
more, in light of Board's recent action of increasing maximum rate on time deposits with
maturities from 90 days to one
year, practice would constitute
payment of time deposits before
maturity in violation of, advice
to FRBank of Chicago
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/27
2950
8/27
2919,2940
6/26
2073
7/24
2419,2432
1963
1181
Pages
Violations: (continued)
Regulation Q: (continued)
Time certificates of deposit: (continued)
Question re deletion of the name of one
depositor from a 12-month time
certificate originally issued
jointly, would not constitute a
violation, but advisable to have
the consent of both depositors,
advice to
Section 217.1(e), United Security Account
Plan of Citizens Bank & Trust
Company, Park Ridge, Illinois,
holders of Plan advised of
changes rescinding violation of,
letter to Presidents of all Federal Reserve Banks transmitting
a copy of the letter submitting
changes
Regulation T:
Section 220.3(b), exchange of stock of Progress Manufacturing Corp. (held
as collateral for margin loan by
firm of Reynolds and Co.) for
unlisted shares of Reading Tube
Co., question whether violation
resulted, or whether transaction
amounted to a reorganization or
recapitalization under sec. 220.6
(e), certain unpublished rulings
of Board furnished Securities and
Exchange Commission, as requested
Section 9,FRAct:
Bankers Trust Company of New York, New York:
Question re violation of, through proposed purchase of stock of First
National Bank of Farmingdale,
New York, by its subsidiary, BT
New York Corp., situation being
studied
Further discussion re situation, letter to Comptroller of the Currency, matter still under study
Further discussion, draft of proposed
letter to Bankers Trust Company
sent to Comptroller for comment
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/1
2527,2541
3/1
739,755-56
6/10
1858,1872
3/6
782
3/18
896,927
4/19
1269,1307
1963
1182
Pages
Violations: (continued)
Section 9,FRAct: (continued)
Bankers Trust Company of New York, N.Y.: (continued)
Agreed matter would be in violation of
section 5136, Revised Statutes,
and, also continued retention of
stock of BT New York Corporation,
4/30
by, would be unlawful, advice to
Louis,
St.
Missouri:
Company,
e
Trust
Mercantil
Operation of offices of Mercantile Mortgage Company, both without and
within Missouri, where real estate
loans are made, by Mississippi
Valley Co., a subsidiary of, considered to be branch operations
and in violation of section 5155,
6/20
Revised Statutes, and
Disagreement with Board's legal conclusions re, review of operations to
be accelerated by, further advice
7/1
to be sent before end of month
Possible purchase of corporate stock
or proposed contribution to surplus of its wholly-owned subsidiary, Mississippi Valley Co.,
would violate section 5136,
Revised Statutes, and, and proposed purchase of corporate
stocks by the subsidiary also
6/20
considered illegal, advice to
Advised that a loan was made by,
providing funds for stock purchases, and indicating that acquired stock would be disposed
7/1
of within a reasonable time
on
re
informati
steps
Letter requesting
taken to correct its operations
re violations of section 9, FRAct
and section 5155, Revised Stat7/26
utes
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1399,1411
1996,2022
2168
1996,2022
2167
2455,2479
1963
1183
Pages
Violations: (continued)
Section 16, FRAct, incident to the matter of cash
with cash agent banks, Mr. Hexter
of the Legal Division pointed out
that the use of FRBank officers
as FRAgent's representatives was
not in accord with, it would be
desirable from a legal standpoint
to amend this section since FRnotes
are substantially under the control of the FRBank at the time
they are shipped to the Bank
Section 19, FRAct, United Security Account Plan
of Citizens Bank & Trust Company,
Park Ridge, Illinois, holders of
Plan advised of changes rescinding violation of, letter to Presidents of all FRBanks transmitting
a copy of the letter submitting
changes
Section 5136, Revised Statutes:
Bankers Trust Company of New York, New York:
Question re violation of, through proposed purchase of stock of First
National Bank of Farmingdale,
New York, by its subsidiary BT
New York Corp., situation being
studied
Matter re possible violation discussed
further
Draft of proposed letter to, transmitted to Comptroller of the Currency for comment
Agreed matter would be in violation of
section 9, FRAct, and, also continued retention of stock of BT
New York Corp., by, would be unlawful, advice to
Position of Comptroller noted
Mercantile Trust Company, St. Louis, Missouri,
possible purchase of corporate
stock or proposed contribution
to surplus of its wholly-owned
subsidiary, Mississippi Valley
Co., would violate sec. 9, FRAct,
and, and proposed purchase of
corporate stocks by the subsidiary
also considered illegal, advice
to
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12/16
4378
3/1
739,755-56
3/6
782
3/18
896, 927
4/19
1269,1307
4/30
4/30
1399,1411
1400
6/20
1996,2022
1963
1184
Pages
Violations: (continued)
Section 5136, Revised Statutes: (continued)
Mercantile Trust Company, St. Louis, Mo.: (continued)
Advised that a loan was made by, providing funds for stock purchases, and
indicating that acquired stock
would be disposed of within a
reasonable time
7/1
2167
Section 5155, Revised Statutes:
Mercantile Trust Company, St. Louis, Missouri:
Operation of offices of Mercantile
Mortgage Company, both without
and within Missouri, where real
estate loans are made by Miss.
Valley Company, subsidiary of,
considered to be branch operations and in violation of section 9, FRAct, and
6/20 1996,2022
Disagreement with Board's legal
conclusions re, review of operations to be accelerated by, further advice to be sent before
end of month
2168
7/1
Letter to, requesting that Board
be informed soon re steps taken
to correct violations of, relating to branch operations
7/26 2455,2479
Section 5208, Revised Statutes:
Certification of checks drawn on account in
overdraft, question re violation
of, in light of information received involving First National
City Bank of New York, Panama
City Branch, and Panama Plumbing
and Supply, Inc., Balboa, Canal
Zone, reply to inquiry from
Congressman Schadeberg, approved
2/18 604, 619
Comptroller
of
Curto
Information sent
2/18 606, 622
rency
complaint
filed
by
Sherman Act, Minnesota Banks,
Justice Department re, with respect to conspiring to fix interest rates on loans, to fix amounts
of rebates, absorbing losses in
sale of Government securities, absorbing exchange charges, and
furnishing supplies to correspondent banks free of charge, agreed
members of Board's staff meet with
Justice Dept. to discuss proposed
3033
9/4
consent decree re
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1185
Pages
Virgin Islands:
Survey of banking facilities in, by FRSystem:
Requested by Secretary of Banking Board of
the Virgin Islands, agreed such
survey be made, the expense of
which to be borne by the Federal
Reserve System, with details to
be arranged by Mr. Solomon, advice to Acting Chairman of Banking Board, Messrs. Leavitt and
Poundstone to participate in survey, and one representative each
from FRBanks of New York and
Philadelphia
Survey report authorized to send to
Visits to Board:
American Bankers Association, luncheon authorized
for officers and executive committee members of National and State
Bank Divisions of, to be held
December 16, 1963, understood
luncheon would be followed by a
conference with available Board
members
Bank of England, Mr. Portsmore, Adviser to,
present at Board meeting during
economic review
Bank for International Settlements, Messrs.
Macdonald and Knap, Banking Department of, present at Board
meeting during economic review
Banking groups, State banker and similar groups,
recommended that the practice of
providing luncheons on the occasion of their visits be continued
during the early part of 1963,
approved
Butler, Samuel C., of Cravath, Swaine and Moore,
New York City, present at Board
meeting with representatives of
the European Coal and Steel
Community
Center for Latin American Monetary Studies, arrangements for visit by trainees
of, letter to Assistant Director
of, approved, understanding re
costs of luncheon, translating
facilities, tour of Washington,
and certain other minor expenditures
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/4
8/16
10/23
1820, 1833
2738, 2740
3615
6/17
1927
5/27
1765
1/9
74
1/25
270
7/19
2362
1963
1186
Pages
Visits to Board: (continued)
Coombs, Charles A., Vice President, FRBank of New
York, meeting of Messrs. Harris,
Hayes, and, with Board to discuss
proposed alterations of gold vault
facilities at the FRBank of New
York
Crowley, Robert J., Assistant Counsel, FRBank
of New York, present at Board
meeting, with representatives of
European Coal and Steel Community
Economic Development Institute of the International Bank for Reconstruction
and Development, memorandum recommending a visit to the Board's
offices for participants in, on
December 13, 1963, program, including a luncheon in the staff
dining room, approved
Harris, Marcus, Vice President, FRBank of New
York, meeting with Messrs. Hayes,
Coombs, and, with the Board to
discuss proposed alterations to
the gold vault facilities at the
FRBank of New York
Hawes, Hardin, Senior Vice President, Harris
Trust and Savings Bank, Chicago,
Illinois, with representatives
from three other banks, met with
the Board to present views in
favor of S. 828, a bill to grant
national and State member banks
limited authority to underwrite
revenue bonds
Hayes, Alfred, President, FRBank of New York,
meeting with Board to discuss
gold vault facilities at the
FRBank of New York, to be arranged
Coombs, Harris, and,
Messrs.
Meeting of
with Board to discuss possible
alterations to vault and alternatives
House Banking and Currency Committee, additional
members of the Board's staff
joined the Board meeting to discuss arrangements for this afternoon's visit by
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6/18
1964
1/25
270
12/9
4264
6/18
1964
7/24
2420
6/10
1864
6/18
1964
6/11
1887
1963
1187
Pages
Visits to Board: (continued)
Insurance investment officers, luncheon to be
included in program for, on visit
to Board April 18, 1963, approval
re
Kirbyshire, John A., Alternate Executive Director
for United Kingdom, International
Monetary Fund, attended Board
meeting for Economic review
Leach, Ralph F., Senior Vice President and Treasurer, Morgan Guaranty Trust Company, New York, with representatives from three other banks,
met with the Board to present
views in favor of S. 828, a bill
to grant national and State member banks limited authority to
underwrite revenue bonds
Vice President, Continental
H.,
John
Perkins,
Illinois National Bank, Chicago,
Illinois, with representatives
from three other banks, met with
Board to present views in favor
of S. 828, a bill to grant national and State member banks limited
authority to underwrite revenue
bonds
Pfeffer, Delmont, Senior Vice President, First
National Bank, New York, New York,
with representatives from three
other banks, met with the Board
to present views in favor of S.
828, a bill to grant national and
State member banks limited authority to underwrite revenue bonds
Rootham, Jasper, Chief, Central Banking Information Department, Bank of England
attended Board Meeting for Economic review
Wellenstein, Edmond, Secretary-General, European
Coal and Steel Community, present
at meeting with Board
Zimmer, Klaus-Peter, General Counsel, European
Coal and Steel Community, present
at meeting with Board
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2/13
544
12/2
4158
7/24
2420
7/24
2420
7/24
2421
12/2
4158
1/25
270
1/25
270
1963
1188
Pages
Visits to FRBanks:
House Banking and Currency Committee to visit
FRBank of New York, reception to
include representatives of the
New York City commercial banks,
no objection to payment of costs
by the Reserve Bank
6/21
Voting permits:
American Installment Credit Corporation, Washington,
D. C.:
of a limited voting permit to vote
Is
the stock of Peoples National
Bank of Leesburg, Virginia,
authorized
1/4
general voting permit to vote
of
Is
stock of Peoples National Bank
of Leesburg, Virginia, authorized
9/24
Bancorporation of Montana, Great Falls, Montana:
(formerly Montana Shares, Inc.)
limited voting permits to vote
of
Issuance
stock of Liberty County Bank,
Chester, Montana, Citizens Bank
of Montana, Havre, Montana, and
Central Bank of Montana, Great
Falls, Montana, authorized
1/25
Application for general voting permit covering shares of Liberty County Bank,
Chester, Citizens Bank of Montana,
Havre, and Central Bank of Montana, Great Falls, all of Montana,
denied at this time because of
condition of subsidiary banks,
to consider issuance of limited
voting permits as needed, FRBank
of Minneapolis agreed with Board
action
10/3
Issuance of a limited voting permit to vote
stock of Liberty County Bank,
Chester, Citizens Bank of Montana,
Havre, and Central Bank of Montana, Great Falls, all of Montana,
authorized
12/27
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2030
5, 25
3298,3313
269,279
3435,3438
4556,4561
1963
1189
Pages
Voting permits: (continued)
Distributors Discount Corporation, New York, New
York
Issuance of a limited voting permit to vote
the stock of Citizens National
Bank in Pocomoke City, Maryland,
authorized
Issuance of a general voting permit to vote
the stock of Citizens National
Bank in Pocomoke City, Maryland,
authorized
Financial General Corporation, Washington, D.C.:
Issuance of a limited voting permit to vote
the stock of The Peoples National
Bank of Leesburg, Virginia,
authorized
Issuance of general voting permit to vote
stock of Citizens National Bank
in Pocomoke City, Maryland, and
The Peoples National Bank of
Leesburg, Virginia, authorized
Inc., Oklahoma
Bancorporation,
Oklahoma
First
City, Oklahoma:
Telegram to FRAgent at Kansas City, authorizing the issuance of a voting permit to, re its stock in First National Bank and Trust Company of
Oklahoma City, Oklahoma, but withholding voting permit for stock
of Idabel National Bank, Idabel,
Oklahoma, pending improvement in
condition of the bank, Board would
consider limited voting permit
when needed, if requested
Issuance of a limited voting permit to vote
stock of Idabel National Bank,
Idabel, Oklahoma, authorized
Arlington, Virginia:
Corporation,
Virginia
First
permit to vote
voting
limited
a
of
Issuance
the stock of Shenandoah County
Bank and Trust Company, Woodstock,
Richmond National Bank and Trust
Company, Richmond, and Peoples'
Bank, Mount Jackson, all of
Virginia, authorized
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1/4
5, 27
9/24
3298,3311
1/4
4, 25
9/24
3298,3308
8/23
2907,2915
12/19
1/4
4456,4469
4, 22
1963
1190
Pages
Voting permits: (continued)
First Virginia Corporation, Arlington, Virginia: (continued)
Issuance of a limited voting permit to vote
the stock of Richmond National
Bank and Trust Company, Richmond,
Virginia, authorized
732, 741
3/1
Issuance of a general voting permit to vote
stock of Peoples' Bank, Mount
Jackson, Virginia, Shenandoah
County Bank and Trust Company,
Woodstock, Virginia, and Richmond National Bank and Trust
Company, Richmond, Virginia,
authorized
9/16 3161,3169
Greater Iowa Corporation, Des Moines, Iowa,
issuance of limited voting permit to vote the stock of First
National Bank, Cedar Falls, Iowa,
authorized
4, 23
1/4
Marine Corporation, Milwaukee, Wisconsin:
Extension of time re issuance of a general
voting permit to vote the stock
of Marine National Bank of
Waukesha, Wisconsin, approved
1/4
4, 24
Further time extension granted for the issuance of a general voting permit to vote the stock of Marine
National Bank of Waukesha,
Wisconsin
3/8
834, 838
Morris Plan Corporation, New York, New York:
Issuance of a limited voting permit to vote
the stock of Citizens National
Bank in Pocomoke City, Maryland,
authorized
1/4
5, 27
Issuance of general voting permit to vote
stock of Citizens National Bank
in Pocomoke City, Maryland,
9/24 3298,3310
authorized
Des
Corporation,
Credit
Moines,
&
Insurors
National
Iowa:
a limited voting permit to vote
of
Issuance
the stock of The Peoples National
Bank of Leesburg, Virginia,
1/4
authorized
5, 26
to
permit
vote
voting
general
Issuance of a
the stock of Peoples National
Bank of Leesburg, Virginia,
9/24 3298,3312
authorized
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1963
1191
Pages
Voting permits: (continued)
Virginia Commonwealth Corporation, Richmond,
Virginia:
Issuance of a limited voting permit to vote
the stock of the Bank of Warwick,
Newport News, The Bank of Virginia,
Richmond, and The Bank of Salem,
all of Virginia, authorized
Issuance of a limited voting permit to vote
the stock of The Bank of Virginia,
Richmond, Virginia, authorized
Issuance of a limited voting permit to vote
the stock of the Bank of Virginia,
Richmond, Virginia, authorized
Issuance of a general voting permit to vote
the stock of Bank of Warwick,
Newport News, Bank of Virginia,
Richmond, and The Bank of Salem,
all of Virginia, authorized
a limited voting permit to vote
of
Issuance
the stock of The Peoples National
Bank of Pulaski, Virginia, authorized
1/4
4, 21
2/8
509, 513
4/5
1149,1154
8/27
2919,2938
12/27
4556,4562
"
WI'
Washington, State of:
Bonds, underwriting authority of member banks,
question by Morgan Guaranty Trust
Company, New York, New York, re,
in light of conflict of opinion
and ruling by Comptroller of the
Currency, Board concluded that
bonds are not "general obligations" within purview of section
5136 of Revised Statutes, letter
to FRBanks and interpretation
published in Federal Register and
FRBulletin
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
9/4
3028
1963
1192
Pages
Weekly reporting member banks:
Acceptances, bankers', revision of reporting by,
and by banks in the series of
commercial and industrial loans
by industry re, recommendations
by the System Research Advisory
Committee, and its Subcommittees
approved, advice to Presidents
of FRBanks with copies of revised form F.R. 416a
Time certificates of deposit, negotiable, recommended by the System Research
Advisory Committee and its Subcomdttees, that all outstanding,
in denominations of $100,000 or
more, be reported on F.R. 416,
with a special confidential report, F.R. 416b, for reporting
banks indicating an outstanding
total of $50 million or more, to
be submitted every six months,
approved by Board, advice to
Presidents of all FRBanks
Wexler, Imanuel:
Bank mergers, information re applications denied
during period from enactment of
Bank Merger Act to November 1,
1961, copies of Board's letters
re, transmitted to, Assistant
Professor, University of Connecticut, Storrs, Connecticut
Wicker, E. R., Professor, Indiana University, Bloomington, Indiana:
SEE: Staff of Board of Governors:
Consultants:
Wicker, E. R., Professor
Williams, Harvey L., Philadelphia, Pennsylvania, letter granting permission for organization of Company for Investing Abroad under section 25(a),
FRAct, sent to, with preliminary
permit
Window dressing:
SEE: Deposits:
Window dressing
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/8
2597, 2635
8/8
2597, 2633
12/9
4246
3/18
895, 918
1963
1193
Pages
Wisconsin Superintendent of Banks, larger banks serving as financing parties in the
acquisition of smaller banks,
with the possibility that the
mailer banks would be improperly capitalized and managed, concern expressed by
of, financial data for research
University
Wisconsin,
purposes by, memorandum by Mr.
Noyes of the Division of Research
and Statistics requesting a contract with, for an exploratory
investigation of methods of organizing financial data for research purposes, at a cost of
$25,000 during the year 1964,
principal investigator for project would be Edgar L. Feige,
Assistant Professor of Economics
at
Withdrawals from membership in FRSystem:
K. 2, Board agreed to institute expansion of, to
include receipt and release of
information re
Letter of advice to FRBanks re procedure
that the Board has decided to
follow concerning K. 2 releases
(Individual banks):
Abington Bank and Trust Company, Abington, Ill.:
Continuance of deposit insurance after,
advice to FDIC
Six months' notice of, waived
Bank of the Mainland, La Marque, Texas:
Six months' notice of, waived
Continuance of deposit insurance after,
bank urged to strengthen capital
stock position, advice to FDIC
Citizens State Bank of Milford, Illinois:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC
Community Bank of Warsaw, Missouri:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
8/9
2658
12/2
4160,4184
8/22
2857
9/27
3374,3394
12/9 4246,4266
12/12 4343,4351
9/5
3050,3053
9/23
3268,3290
1/18
177
2/5
440, 454
2/14
551, 559
2/14
551, 560
1963
1194
Pages
Withdrawals from membership in FRSystem: (continued)
Farmers State Bank, Cleveland, Texas:
Continuance of deposit insurance after,
bank urged to strengthen capital
stock position, advice to FDIC
Six months' notice of, waived
First State Bank, Belmond, Iowa:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC
First State Bank of Bremond, Texas:
Continuance of deposit insurance after,
advice to FDIC
notice of, waived
months'
Six
Lynwood, California:
of
Bank
First State
Continuance of deposit insurance after,
advice to FDIC
notice of, waived
months'
Six
Tonganoxie, Kansas:
of
Bank
First State
insurance after,
deposit
of
Continuance
advice to FDIC
Glasgow Savings Bank, Glasgow, Missouri:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC
Merchants Trust & Savings Bank, Kenner, Louisiana:
Six months' notice of, waived
Continuance of deposit insurance, advice to
FDIC, calling attention to capital needs of
Mound City Trust Company, St. Louis, Missouri:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC
Peoples Banking Company, McComb, Ohio:
Continuance of deposit insurance after,
advice to FDIC
Six months' notice of, waived
Extension of time to withdraw from membership in FRSystem, approved
Peoples Savings Bank, New Knoxville, Ohio,
granted extension of time within which to withdraw from membership in the FRSystem
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
10/14 3527,3540
11/8 3890, 3901
12/12
4343,4352
12/18
4411,4435
2/7
2/7
478, 494
478, 495
1/30
4/19
289, 304
1262, 1291
1/14
98, 109
3/11
840, 860
3/20
960, 974
6/19
1972, 1979
8/16
2726,2748
7/26
2454,2472
8/1
2526,2540
2/28
4/8
717, 725
1156,1160
11/13
2/7
3916,3934
478, 492
1963
1195
Pages
Withdrawals from membership in FRSystem: (continued)
Peoples Trust and Savings Bank, Green Bay, Wis.:
Six months' notice of, waived
Rochester State Bank, Rochester, Illinois:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC
Scribner Bank, Scribner, Nebraska:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC
Sidell State Bank, Sidell, Illinois:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC
Southern Commercial and Savings Bank, St. Louis,
Missouri:
months'
notice of, waived
Six
Continuance of deposit insurance after,
advice to FDIC
Granted extension of time within which to
withdraw from membership in
the FRSystem
State Bank of Virginia, Virginia, Minnesota:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC
Texas State Bank, Austin, Texas:
Continuance of deposit insurance after, bank
urged to strengthen capital stock
position, advice to FDIC
Six months' notice of, waived
Wayne County Bank and Trust Company, Honesdale,
Pennsylvania:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC, reference to
nonconformity with section 18
(a), FDIAct, noting that prescribed official signs were not
displayed at each window where
insured deposits were received
Wharton Bank and Trust Company, Wharton, Texas:
Six months' notice of, waived
Continuance of deposit insurance after,
advice to FDIC
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
11/14
3947,3962
4/3
1135,1139
4/26
1343,1352
10/24
3639,3649
11/4
3752,3771
4/19
1261,1287
5/13
1536, 1548
2/15
571, 481
4/15
1218,1228
8/29
2852,2969
10/28
3687,3693
11/14
3947,3963
10/14
10/14
3527,3539
3528,3541
1/24
238, 246
2/28
717, 724
9/23
3268,3289
10/7
3443,3455
@FedFRASER