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1388 Minutes of actions taken by the Board of Governors of the era). Reserve System on Thursday, August 18, 1949. PRESENT: Mr. Mr. Mr. Mr. Eccles, Chairman pro tem. Draper Vardaman Clayton Mr. Mr. Mr. Mr. Carpenter, Secretary Hammond, Assistant Secretary Morrill, Special Adviser Thurston, Assistant to the Board Minutes of actions taken by the Board of Governors of the ?edarea Reserve System on August 12, 1949, were approved unanimously. Minutes of actions taken by the Board of Governors of the Neral Reserve System on August 15, 16, and 17, 1949, were approved 4111 the actions recorded therein were ratified unanimously. Memorandum dated August 15, 1949, from Mr. Thomas, Director or he D ivision of Research and Statistics, recommending the appoint- Of Mrs. Anne Campbell Sencindiver as a draftsman in that Divi1)48 O4 a temporary basis for a period not to exceed six months, with ic 8 alary at the rate of $3,727.20 per annum, effective as of the date upon which she enters upon the performance of her duties "tet having passed the usual physical examination. Approved unanimously. Letter to Mr. J. H. Gales, Secretary pro tem, of the Federal 88nk of St. Louis, reading as follows: "The Board of Governors approves the payment of 8/18/49 -2- "salary to Dale M. Lewis as an officer of the Federal Reserve Bank of St. Louis with the title of Assistant Vice President at the rate of $7,500 per annum for the period from August 15, 1949, to May 31, 1950, inclusive." Approved unanimously. Telegram to Mr. Wilbur, Federal Reserve Agent at the FedReserve Bank of San Francisco, reading as follows: "Reference Stone's telegram of August 15 concernform of limited voting permit to be issued to Transamerica Corporation authorizing it to vote stock 13t First National Bank of Arizona. You are authorized to include in the permit the sentence suggested by Counsel for your Bank, adding at the end of such sentence the words innless such holding company affiliate also 413lies for and obtains a voting permit." Approved unanimously. Letter to The First National Bank of Zanesville, Zanesville, ,r eading as follows: "The Board of Governors of the Federal Reserve Sys- has given consideration to your supplemental appli! 4tion for fiduciary powers, and grants you authority co act, when not in contravention of State or local law, as executor, administrator, guardian of estates, assignee, receiver, and committee of estates of lunatics. The eXercise of these powers, in addition to those heretofore granted to act as trustee, registrar of stocks and bonds (3 .tr in any other fiduciary capacity in which State banks, rust companies, or other corporations which come into e°1410etiti0n with national banks are permitted to act :/ !7ler the laws of the State of Ohio, shall be subject to ' : t41e Provisions of the Federal Reserve Act and the regula, ' - Ons of the Board of Governors of the Federal Reserve *Ystem. "This letter will be your authority to exercise the ti 'ke-Lary powers granted by the Board pending the preparan of a formal certificate covering such authorization, LlIch will be forwarded to you in due course." 8/18/49 -3Approved unanimously, for transmission through the Federal Reserve Bank of Cleveland. Telegram to Mt. Knoke, Vice President of the Federal Re- e Bank of New York, reading as follows: "Your telephone message and wire August 17 and 18. Following consultation with Treasury and State, Board aPProves your expressing no objection to credit of apProximately $5 million by Bank for International SettleMents to Bank Nationale de Belgique on August 18 and similar operation on August 23." Approved unanimously. Chairman pro tem.
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