Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, August 11, 1949, Volume 36, Part 3

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1 36

Minutes of actions taken by the Board of Governors of the

l'ederai

Reserve System on Thursday, August 11, 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 11, 1949, from Mr. Bethea, Director

or the T1
-ivision

of Administrative Services, recommending that the

IseBigtation of Mrs. Mary Heresko, an operator (key punch) in that

be accepted to be effective, in accordance with her re1114t/ at the
close of business August 11, 1949.
Approved unanimously.
Letter to Mr. Leach, President of the Federal Reserve Bank of

'
40134, reading as follows:
t
"In view of the circumstances described in your lete_14 of August 4, 1949, the Board of Governors approves the
IpMent of $10,000 to the Retirement System for the beneTlt of Mr. Claude L. Guthrie, Vice President and Cashier,
°vided his application for disability retirement is
ceePted by the Retirement System.
u_
Your advice with respect to the effective date of
Guthrie's retirement will be appreciated."
Approved unanimously.
Eta

Letter to the Presidents of all Federal Reserve Banks, reading
1313110,08

This refers to the Board's letter of July 25, 1949,
'
9Mrding the invitation recently received from the




1361

-2"Department of Justice to submit proposals for State Legislation in connection with the program of the Council of
State Governments for 1920.
"In the light of the replies received by the Board
from the Federal Reserve Banks, the Board is submitting to
the Department of Justice only the proposal for enactment
Of the Model Deferred Posting Statute in States in which
it has not yet been adopted; and, for your information,
there is enclosed a copy of the Board's letter to the DePartment of Justice and of the enclosed 'Interpretive
St
atement'. A copy of the printed circular sent out by
the American Bankers Association on December 17, 1948, regarding this matter, which is referred to in the Statement,
14as transmitted to you with our letter of January 3, 1949."




Approved unanimously.

Chairman pro tem.