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577 A meeting of the Board of Governors of the Federal Reserve SYstem was held in Washington on Thursday, April 27, 1939, at 11:30 PRESENT: Mr. Mr. Mr. Mr. Eccles, Chairman McKee Davis Draper Mr. Bethea, Assistant Secretary Mr. Carpenter, Assistant Secretary Mr. Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereinafter referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Federal Reserve System held 'on April 26, 1939, were approved unanimously. Memorandum dated April 27, 1939, addressed to the Board by the Personnel Committee recommending approval, effective as of May 1, 1939, of recommendations of the Staff Personnel Committee as set forth in a memorandum prepared under date of April 17, 1939, with respect to sdiustments in salaries and titles of certain employees of the Board. There were submitted with the memorandum of the Board's Personnel Committee two tables showing the number and aggregate amount of salary increases recommended classified according to present and proposed salaries, respectively, segregated by divisions into four groups, lamely, (1) salaries at or below the minimum for the corresponding grade in the Classified Civil Service, (2) salaries above the minimum 578 4/27/39 -2- bat not exceeding the average for the corresponding grade, (3) salaries above the average but not exceeding the maximum, and (4) salaries above the maximum. The recommendations of the Board's Personnel Committee were approved unanimously, effective as of May 1, 1939, as follows: 130AR1) 'v111E3E23 CES: Madeleine E. Benton Secretary to Mr. Thurston Salary Increase To From 42,400 4,!2,300 SECRETARY'S Ok.tICE: Secretarial and Admini strative 41,320 File Clerk Hazel I. Coffman 1,320 Clerk Tames C. Kolinski 1,380 Clerk Index Assistant Bert C. Dedman, Jr. 1,560 Stenographer Margaret L. Higdon 1,560 Stenographer Dorothy M. Parkhill 1,600 Clerk Order John F. Cassil 1,600 Clerk Helen Lavelle 1,620 Stenographer Claire A. Bastable 1,620 File Clerk Bernice T. O'Brien 1,620 Stenographer Vera Romans 1,720 File Clerk Alice E. Tyrrell 1,800 Stenographer Mildred F. 3mith 1,920 File Clerk Eleanor K. Anderson 2,040 Assistant Chief File Clerk John N. Kiley 2,100 Chief Stenographer D. Jeanne Krieger 3,000 Administrative Assistant J. Edward Kilgore 41,380 1,440 1,500 1,620 1,680 1,800 1,740 1,680 1,680 1,680 1,780 1,860 2,000 2,100 2,200 3,200 The following temporary file clerks in the Secretary's Office were appointed on a permanent basis with the adjustments in salaries as shown, effective as of May 1, 1939, and subject to their passing satisfactorily the usual physical examination: Vivian K. Haislip Margaret Johnston Ruth McCrary Isabelle G. Noble Ruby A. Pitzer 41,200 1,200 1,200 1,200 1,200 S1,320 1,320 1,320 1,320 1,320 579 4/27/39 SECRETARY'S OFFICE: -3(Cont'd) Salary Increase From To Service Page Peter W. Beers Mail Clerk Robert H. Tones Mail Clerk William E. 2inn Telephone Operator Flora J. Griffith Chauffeur C. M. Wilkinson Mimeograph Operator Nelson S. Dyson Nurse Lois W. :Tones BdildinefiL Operation and Maintenance Day Maid Ruth Jarvis Supervisor of Charwomen Alma S. Crozier Porter Philip D. Faber Garage Attendant Matthew R. :Tones Head Night Porter Umberto F. Salvetti Clerk Thomas B. Handley Sergeant of the Guard Jos. E. Kelleher Captain of the Guard Louis N. Bertol Carpenter Charles W. Storm a,080 1,080 1,140 1,380 1,380 1,440 1,800 0_440 1,140 1,200 1,440 1,440 1,500 1,980 900 1,140 1,140 1,140 1,140 1,600 1,600 1,900 1,920 960 1,200 1,200 1,200 1,200 1,800 1,740 2,000 1,980 OIFICE 014 GENERAL COUNSEL: G. Howland Chase Frederic Solomon Jerome W. Shay Mabel Goepfert Edna B. Boiseau Lucy Inabnett Clara B. Hutchinson Richard A. Eill Mary McDminell Helen V. Dolan Mary A. Morgan DIVISION OF EXAMINATIONS: Field Force John T. Boysen E. Ralph Massey R. Thornton Snow Assistant Counsel Assistant Counsel Law Clerk Secretary Secretary Secretary Stenographer File Clerk Stenographer Stenographer Stenographer Assistant Federal Reserve Examiner Assistant Federal Reserve Examiner Assistant Federal Reserve Examiner ;5,750;6,000 4,800 4,500 2,100 2,400 2,200 2,100 1,800 2,000 1,800 2,000 1,800 1,900 1,800 1,900 1,900 1,800 1,740 1,800 1,800 1,740 2,100 2,100 2,200 2,100 2,300 580 4/27/39 -4- DIVISION OF EXAMINATIONS: (Cont'd) Field Force (Cont'd) J. Fred English Herbert H. -Hagler Fred W. Troup Thomas P. Howard Joseph A. Turnbull Harold X. Newman Harvey T. Wishart Gordon R. Murff Office Examining Staff Xulia B. Hopkins Salary Increase To From Assistant Federal Reserve $2,700 Examiner Assistant Federal Reserve 2,700 Examiner Assistant Federal Reserve 2,700 Examiner Assistant Federal Reserve 2,900 Examiner Assistant Federal Reserve 3,300 Examiner Assistant Federal Reserve 3,400 Examiner Assistant Federal Reserve 3,400 Examiner 3,700 Federal Reserve Examiner $2,800 2,800 2,800 3,100 3,500 3,600 3,500 4,000 LET:nu:ton Warren I. McClelland Patrick J. Winkler Xohn R. Radford, Tr. Glenn M. Goodman Fred A. Nelson William IL Pollard H. 0. Koppang Clerical Staff Eleanor Giovanetti Elnyr D. Newcame Arch B. Brown Assistant Federal Reserve Examiner Federal Reserve Examiner Federal Reserve Examiner Federal Reserve Examiner Federal Reserve Examiner Federal Reserve Examiner Federal Reserve Examiner Federal Reserve Examiner $2,100 4,300 4,300 4,400 4,800 5,300 5,500 6,500 $2,300 4,400 4,400 4,500 5,000 5,400 5,700 6,800 Stenographer Secretary Clerk-Stenographer 41,560 1,820 1,900 $1,660 2,000 2,000 $4,400 3,900 2,900 2,200 1,740 41;4,600 4,100 3,100 2,400 1,900 1,740 1,800 1,800 1,900 LIVISION OF BANK OPERATIONS: Technical Assistant Mortimer B. Daniels Technical Assistant David M. Kennedy Clerk Willis H. Mitchell Secretary to Mr. Smead Jewell B. Smith Secretary Sybil E. Hainer (Miss Hainer's designation was changed from "Stenographer to "Secretary") Secretary Avelyn Buchanan Camptometer Operator Rita S. Boyer 581 4/27/39 -5- DIVISION OF BANK OPERATIONS: (Cont d) Evelyn Bryan Margaret M. Kroh Beatrice S. McLelland Ellen L. Craighill Thelma C. Millican Virginia Glazebrook Carl M. Skinner Jerry Williams Comptometer Operator Comptometer Operator Comptometer Operator Comptomet er Operator Clerk Stenographer Messenger Messenger Salary Increase To From '2.,740 $1,680 1,620 1,680 1,620 1,560 1,320 1,500 1,600 1,680 1,320 1,440 1,320 1,460 1,080 1,200 DIVISION OF RESEARCH AND STATISTICS: 41')5, 600 Senior Economist 5,400 Senior Economist 4,100 Senior Economist Junior Economist and 3,500 Executive Assistant (Miss Ellis' designation was changed from "Junior Economist" to "Junior Economist and Executive Assistant") 3,100 Junior Economist Clayton Gellman 3,100 Assistant Librarian Alvern H. Sutherland 3,000 Junior Economist H. C. Barton, Jr. 3,000 Junior Economist Frederick C. Dirks 3,000 Junior Economist George Paul Doherty 3,000 Junior Economist Gunhild Anderson Kenny 2,700 Junior Economist Louise Si ssman 2,400 Junior Economist Thomas M. Parsons 2,300 Printing Clerk William A. Kline (Mr. Kline's designation was changed from "Assistant Printing Clerk" to "Printing Clerk") 2,300 Economic Assistant Mary M. Maroney 2,300 Economic Assistant Katharyne P. Hell 2,200 Economic Assistant Caroline Hamill (Miss Hamill's designation was changed from "Secretary" to "Economic Assi stant") 2,100 Economic Assistant Robert D. Fenn 2,000 Economic Assistant Rosa Ernst 1,900 Draftsman Helen R. Grunwell 1,900 Economi c Assistant Lyndall C. McCloud 1,900 Secretary Eleanor Myer 1,800 Secretary Natalie Boiseau 1,800 Secretary Franc S. Caskey 1,800 Economic Assistant George P. Hitchings George Terborgh Susan Burr Litchfield Henry H. Edmiston Margaret Ellis 6,000 5,600 4,300 3,800 3,450 3,250 3,300 3,300 3,150 3,150 2,850 2,700 2,400 2,400 2,400 2,300 2,400 2,100 2,000 2,000 2,000 1,900 1,900 1,900 r:82 kJ 4/27/39 -6- DrVISION OF RESEARCH AND STATISTICS: (Cont'd) Salary Increase To From ‘'a,900 t1,800 2,200 1,300 1,900 1,800 1,900 1,780 1,900 1,780 1,900 1,780 1,900 1,780 1,900 1,780 1,900 1,780 1,900 1,700 1,800 1,700 1,760 1,660 1,720 1,620 Economic Assistant Michael Marsh Economic Assistant William A. Salant Economic Assistant Eleanor J. Stockwell Clerk Ethel L. Evans Clerk-Stenographer Mavis N. Scott Secretary Neva E. Rott Draftsman Grace R. Salm Secretary Lois A. Williams Secretary Norma F. Wills Economic Assistant Joseph Silverman Clerk Elizabeth P. Tewksbury Library Assistant Caroline M. Burgess Secretary Beulah S. Baum (Mrs. Baum's designation was changed from "Stenographer" to "Secretary") 1,620 Library Assistant Eleanor M. Esser 1,620 Clerk G. Elizabeth Ford 1,620 Secretary Lottie Kriegel 1,620 Secretary Rose H. Schultz 1,600 Clerk Lucille Barnett 1,540 Clerk M. Elizabeth Barnett 1,540 Clerk Catherine M. Counts 1,540 Clerk Alice Swindlehurst 1,540 Clerk Muriel W. Thompson 1,440 Secretary Mary Q. Casady (Mrs. Casady's designation was changed from "Stenographer" to "Secretary") 1,440 Draftsman Barbara S. Depenbrock 1,440 Clerk Elizabeth F. Longley 1,400 Messenger Charles G. Trescott 1,320 Messenger Jesse D. Smith 1,200 Library Clerk John Snapp 1,200 Assistant Printing Clerk X. Robert Surguy 1,140 Messenger Raymond Van Brakle 1,720 1,720 1,720 1,720 1,700 1,640 1,640 1,640 1,640 1,540 1,540 1,540 1,460 1,380 1,380 1,800 1,200 DIVISION OF SECURITY LOANS: Otto H. Branic Messenger a,140 41,260 Letter to the Presidents of all Federal Reserve banks, reading as follows: 583 4/27/39 -7- "In accordance with the discussion of the members of the Board with the Presidents of Federal Reserve Banks in Washington last week, the attached statement for the press has been prepared with the understanding that it will be released only in the event of an outbreak of hostilities abroad resulting in serious disturbances in our markets. "It will be noted that, as agreed upon by the Presidents after consultation with the boards of directors of their respective Federal Reserve banks, the statement announces that, in accordance with a policy adopted by the Federal Reserve System, the Federal Reserve bsnks stand ready to make advances, at the discount rate, on United States Government obligations at par to all member and nonmember banks, and that statements will be issued by the individual Federal Reserve banks advising the banks in their respective districts of the System's policy. "This is being sent to you in confidence at this time in order that you may be advised of the nature of the statement that would be issued by the Board. Should it become necessary to issue the statement you would be advised by wire." Approved unanimously. Thereupon the meeting adjourned. Assistant Secretary. Chairman.
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