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Minutes of actions taken by the Board of Governors of the Nieral Reserve System on Monday, April 2, 1951. PRESENT: Mr. Martin, Chairman Mr. Szymczak Mr. Evans Mr. Vardaman Mr. Norton Mr. Powell Mr. Carpenter, Secretary Mr. Sherman, Assistant Secretary Mr. Kenyon, Assistant Secretary Mr. Martin took his oath of office as a member of the Board Governors of the Federal Reserve System today and the President designated him as Chairman, to serve as such for a term of four years, 11111e88 and until his services as a member of said Board shall have e0011er terminated. Copies of his commission and oath of office and designation as elk._ LkuaTlan are in the Board's files. Minutes of actions taken by the Board of Governors of the Nier al Reserve System on March 30, 1951, were approved unanimously. Memorandum dated March 29, 1951, from Mr. Noyes, Director of the ".Asion of Selective Credit Regulation, recommending the appoint44A of -- Miss Georgiana Benjamin as a clerk-typist in that Division, "a t nit e -°rary indefinite basis, with basic salary at the rate of /2181n Per annum, effective as of the date upon which she enters 14)°11 the Performance of her duties after having passed the usual ce*1 examination and subject to the completion of a satisfactor y 4/2/51 -2- employment investigation. Approved unanimously. Letter to the Presidents of all Federal Reserve Banks, reading as follows: "A number of inquiries have been received by the Board from Reserve Banks and others relating to priorities for materials, machine equipment, etc. While it is assumed that priorities will be handled locally by the Reserve Banks in so far as practicable, the Division of Bank Operations is Prepared to assist in such matters as seem to require attention in Washington. They will be handled within the Division under the supervision of Loma). Myrick, Assistant Director. In case Mr. Myrick is absent or unavailable at any time, John R. Farrell, Chief, Reserve Bank Budget and Expense Section, will act as his alternate. "If you will advise the name of the individual in Your Bank who will handle priorities and his alternate, M. Myrick ordinarily will communicate directly with them, as the occasion requires, in accordance with the procedure followed in the program during World War lie fl Approved unanimously.
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