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1272 A meeting of the Board of Governors of the Federal Reserve SYstena was held in Washington on Monday, August 21, 1944, at 1:30 P.111, PRESENT: Mr. Eccles, Chairman Mr. Ransom, Vice Chairman Mr. Draper Mr. Bethea, Assistant Secretary Mr. Carpenter, Assistant Secretary Mr. Clayton, Assistant to the Chairman The atter action stated with respect to each of the matters herein— referred to was taken by the Board: illenl°randum dated August 19, 1944, from Mr. Leonard, Director (4 the D. l• vision of Personnel Administration, recommending that the basic klary °f narrY B. Stone, Personnel Technician in that Division, be in— ere. 0.8eci f ' l °111 $3,100 to 0,300 per annum, effective September 1, 1944. Approved unanimously. Memorandum dated August 19, 1944, from Mr. Leonard, Director e Division of Personnel Administration, recommending that the basic 4-ary of- Michael L. Jamison, messenger in Governor Draper's office, be itere. '48ed from $1,380 to $1,500 per annum, effective September 1, 1944. Approved unanimously. Letter to the board of directors of "The Hamilton Bank", Hamilton, 34%11ri, stating that, subject to conditions of membership numbered 1 to 3 e°11tain , -LI in the Board's Regulation H, the Board approves the bank's 4PRication for membership in the Federal Reserve System and for the 6.1314%°Priate amount of stock in the Federal Reserve Bank of St. Louis. 1273 —2— Approved unanimously, together with a letter to Mr. Davis, President of the Federal Reserve Bank of St. Louis, read— ing as follows: "The Board of Governors of the Federal Reserve Sys— the application of 'The Hamilton Bank', Hamilton, , °url, for membership in the Federal Reserve System, sub6 to the conditions prescribed in the enclosed letter of'fh you are reouested to forward to the Board of Directors institution. Two copies of such letter are also enClosed, 7.0 one of which is for your files and the other of which are requested to forward to the Commissioner of Finance the State of Missouri, for his information. "The understanding reached with the directors of the clZ with respect to conservation of earnings and the divi— I Policy to be followed has been discussed informally the Washington Office of the F.D.I.C. and we were ad— ired that the understanding was satisfactory to the F.D.I.C. cer( jder that our files may be complete please send us a in „ 1 :fled copy of the resolution passed by the directors was connection." tem IA , approves 011S8 • ;g i Thereupon the meeting adjourned. Assistant Secretary. Chairman.
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