The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
1248 A meeting of the Board of Governors of the Federal Reserve System was held in Washington on Friday, August 27, 1943, at 11:00 a.m. PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman Szymczak Draper Evans Mr. Morrill, Secretary Mr. Bethea, Assistant Secretary Mr. Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereinreferred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Federal Re serve System held on August 26, 1943, were approved unanimously. Te legrams to Messrs. Treiber and Clouse, Secretaries of the FedRe sel ' Ire Banks of New York and Cleveland, respectively, Mr. Walden, Pirst vi vice p ce President of the Federal Reserve Bank of Richmond, Mr. Dillard, er,,a reta l'esident of the Federal Reserve Bank of Chicago, Mr. Stewart, Sec°f the Federal Reserve Bank of St. Louis, Mr. Powell, First Vice Pri dent chaill, of the Federal Reserve Bank of Minneapolis, Mr. Caldwell, , of the Federal Reserve Bank of Kansas City, and Mr. Hale, Secrecars, of the Federal Reserve Bank of San Francisco, stating that the Board 41313roves tollisthe establishment without change by the Federal Reserve Banks of ellicaDo and San Francisco on August 24, by the Federal Reserve Banks of and Kansas City on August 25, and by the Federal Reserve Banks of YOzit Cleveland, Richmond, and Minneapolis on August 26, 1943, of the rqes New Of discount and purchase in their existing schedules. Approved uanimously. 1249 8/27/43 Memoranm du dated August 24, 1943, from Mr. Morrill, recommending that the f°11°wing increases in basic annual salaries of employees in the o —Jecret arY's Office be approved, effective September 1, 1943: Name Designation Salary Increase To From Secretaria l and Administrati e argaret L. O."iitclin Higdon 0 stenographer korris eration and Ilaild2rit Mayhew Gardener 8ruce Moffett Guard 41°8 MaCklin Laborer Michael Laborer !leram Morley Tobler Laborer Elevator Operator ''.: 47 14 ,814 1.21.111:7 -'uert Sinclair Chauffeur $1,920 $1,980 1,680 1,560 1,320 1,320 1,320 1,200 1,740 1,620 1,380 1,380 1,380 1,320 1,320 1,440 Approved unanimously. Memoranda dated August 16, 1943, from Mr. Goldenweiser, Director °t theb* 'Ivision of Research and Statistics, recommending that the followin basic annual salaries of employees in that Division be 11-Ppr 'red, effective September 1, 1943: Name tthei L., 11817 Gumb:Z" Designation Clerk Economic Assistant Salary Increase To From $2,200 2,000 $2,400 2,300 Approved unanimously. Me morandum dated August 25, 1943, from Mr. Goldenweiser, Direche Division of Research and Statistics, recommending that the ,keic sala be itere rY of Lorman C. Trueblood, a junior economist in that Division, ased from $3,000 to $3,400 per annum, effective September 1, 1943. tor t Approved unanimously. 1250 V27/43 —3_ Memorandum dated August 261 1943, from Mr. Morrill, submitting the "8J-gria.tion of Miss Honora Walsh as a junior file clerk in the Seceta,8 Office, to become effective as of the close of business on Sep- teraber 2, 1 943, and recommending that the resignation be accepted as of that date. The resignation was accepted. liemorandum of this date from Mr. Morrill, submitting the resilgLation howard A. Shorter as a guard in the Secretary's Office, to become effective as of the close of business on September 29, 1943, and reeozzlending that the resignation be accepted as of that date. The resignation was accepted. eel Letter to Mr. Neth Leachman, in care of Mr. Agnew, General CounOf the Federal Reserve Bank of San Francisco, reading as follows: Mr. : This is with reference to Mrs. Doris Hiller with whom reibelbis made arrangements to work for you as stenogPnef : before he left San Francisco. it For various reasons it would appear to be much simpler of placing Mrs. Hiller upon the Board's payroll, the c°111d arrange to pay her for her services, and include be ar.:1?unt of her you will ranre-Lmbursed by salary in the expenses for which the Board. It is understood that such an arap,rment is satisfactory to you, and accordingly, it will be if you will pay her monthly salary of $150.00 for t an;hted expe t -e as she works for you and include that amount in your rlie account to be submitted to the Board. rice Mrs. Hiller is not a regular employee of your ofter it '1,:t is suggested that in view of the confidential characask ?J. the work would be well to reglarr to read which she will be doing, it and sign a statement similar to that which is naturl ' ed of the Board's employees regarding the confidential fret, :of the work for the Board. Accordingly, a form adapted ,hat used for the Board's own employees is enclosed." 3,4 instead Approved unanimously. 1251 27/4.3 -4Letter to Mr. Young, President of the Federal Reserve Bank of Chita go) reading as follows: ters "In accordance with the requests contained in your let— „ ul August 24, 1943, the Board approves the designation doseph Beeler, Jr. and Edward A. Koeller as special as— stant examiners for the Federal Reserve Bank of Chicago.” Approved unanimously. Letter to Mr. Hays, First Vice President of the Federal Reserve f Cleveland, reading as follows: eon "Thank you for your letter of August 18 enclosing a °f an advertisement offering credit under section 8(h) 41,"egulation W. We were interested to know that although 1;LIT, adv ertisement was misleading, as the Registrant ad— it tied/ both this Registrant and the other one which you Revestagated had endeavored to comply strictly with the &Illation in the actual extension of credit." Approved unanimously. Thereupon the meeting adjourned. Secre ary. Chairman.