Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, August 10, 1949, Volume 36, Part 3

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Minutes of actions taken by the Board of Governors of the
Pedel'aa Reserve System on Wednesday, August 10, 1949.
PRESENT:

Mr. Eccles, Chairman pro tem.
Mr. Draper
Mr. Clayton
Mr.
Mr.
Mr.
Mr.

Carpenter, Secretary
Hammond, Assistant Secretary
Morrill, Special Adviser
Thurston, Assistant to the Board

Memorandum dated August 4, 1949, from Mr. Millard, Director
°r the Division
of Examinations, recommending that, effective as of
the d
ate uPon which he enters upon the performance of his duties
etter

Lying passed the usual physical examination, Frank C. Guth,
'
Jr b
e appointed as a Federal Reserve Examiner, with salary at the
l'ate „
15,482.80 per annum, and with official headquarters at Wash-

By ursnimous vote, Mr. Frank C. Guth,
Jr., was appointed an examiner to examine
Federal Reserve Banks, member banks of the
Federal Reserve System, and corporations
operating under the provisions of sections
2) and 25(a) of the Federal Reserve Act,
for all purposes of the Federal Reserve
Act and of all other acts of Congress pertaining to examinations made by, for, or
under the direction of the Board of Governors of the Federal Reserve System, and
was designated as a Federal Reserve Examiner, with official headquarters at Washington, D. C., and with basic salary at
the rate of $5,482.80 per annum, all effective as of the date upon which he enters
upon the performance of his duties after
having passed the usual physical examination.




Memorandum dated August
tor

9, 1949, from Mr. Leonard, Direc-

vi the Division of Bank Operations, recommending the appoint-

et

of Miss Eileen Rossow as a.clerk in that Division on a tempo-

4•7 indefinite basis, with basic salary at the rate of

$2,498.28

effective as of the date upon which she enters upon the
1)er‘r°1-riance of her duties after having passed the usual physical ex-

Approved unanimously.
Memorandum dated August

9, 1949, from Mr. Bethea, Director

°D the ,,

ilviston of Administrative Services, recommending that the

IrlEttion of William Myers, a cafeteria helper in that Division,
ccePted to be effective, in accordance with his request, at the
of

business August 19, 1949.
Approved unanimously.

Telegram to Mr. Wayne, Vice President of the Federal Reserve
l'ttk Or Ri
-chmond, reading as follows:

Iter "Relet August 4. Board interposes no objection to
„ get. of Farmers & Merchants State Bank and The Comer;r1 State Bank, Incorporated, of Fredericksburg, Virctlnia. It does not appear that proposed merger will
!
sel
( e anY change in general character of business or
DIZe of corporate powers exercised by the bank within
i;"iew of condition of membership numbered 1 to which
'is subject."




Approved unanimously.