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1450 Minutes of actions taken by the Board of Governors of the Pederal Reserve System on Thursday, August 21, 1952. PRESENT: Mr. Mr. Mr. Mr. Mr. Szymczak, Chairman pro tem. Evans Vardaman Mills Robertson Mr. Carpenter, Secretary Mr. Sherman, Assistant Secretary Mr. Kenyon, Assistant Secretary Minutes of actions taken by the Board of Governors of the "al Reserve System on August 20, 1952, were approved unanimously. Memornndum dated August 19, 1952, from Mr. Bethea, Director, 4vitio of Administrative Services, recommending that Libbie L. Boyd, Charyman in. that Division, be granted leave without pay for the August 22 through October 31, 1952. Approved unanimously. Telegram to Mr. Gidney, President, Federal Reserve Bank of Cleve' 4) reading as follows: "Reurlet August 11, 1952 concerning question whether : 41der RegulatIon Y a specified construction project involves ,major addition or improvement on the one hand, or an enrely new structure on the other. a recent inquiry somewhat similar to yours the old A.uructure was so far demolished that the Board concluded that resulting building should be considered a new structure. iVleetion in such situations necessarily depends on all cireUrnetances involved and present case seems to be a particularly Z t451 8/21/52 Close one. However, the Board *would not be disposed to disagree with your conclusion if on the basis of all the relevant facts you should determine that the resulting building is a new structure, rather than a major addition or improvement." Approved unanimously.
@FedFRASER