Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, August 8, 1941, Volume 28, Part 3

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960

A meeting of the Board of Governors of the Federal Reserve
System was held in Washington on Friday, August 8, 1941, at 2:30 p.m.
PRESENT:

Mr. Ransom, Vice Chairman
Mr. McKee
Mr. Draper
Mr.
Yr.
Mr.
Mr.

Morrill, Secretary
Bethea, Assistant Secretary
Carpenter, Assistant Secretary
Clayton, Assistant to the Chairman

The action stated with respect to each of the matters hereinafter referred to was taken by the Board:
Telegrams to Mr. Young, President of the Federal Reserve Bank
°I Boston, Mr. Treiber, Assistant Secretary of the Federal Reserve
Bank of New York, Mr. Leach, President of the Federal Reserve Bank of
4e111110114, Messrs. McCravey, Dillard, Stewart, and Powell, Secretaries
Of the Federal Reserve Banks of Atlanta, Chicago, St. Louis, and
Linneapolis, respectively, Mr. Gilbert, President of the Federal Reserve Bank of Dallas, and Mr. Hale, Secretary of the Federal Reserve
}lank of San Francisco, stating that the Board approves the establish—
Without change by the Federal Reserve Banks of St. Louis and San
Pl'ancieco on August 51 by the Federal Reserve Banks of New York, Rich14°114, Atlanta, Chicago, Minneapolis, and Dallas on August 7, 1941, and
133r the Federal Reserve Bank of Boston today, of the rates of discount
and Purchase in their existing schedules.
Approved unanimously.
Memorandum dated August 5, 1941, from Mr. Morrill recommending
that the salary of George Leland Bach, Special Assistant in the




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8/8/41
Correspondence and Publications Section of the Office of the Secretary,
be

increased from the rate of $3,200 to 0,800 per annum, effective

kgust 16, 1941.
Approved unanimously.
Memorandum dated August 6, 1941, from Mr. Morrill recommending
that the salary of Fred A. Nelson, Assistant Secretary, be increased
from the rate of 61300 to .,61800 per annum, effective August 16, 1941.
Approved unanimously.
Memorandum from Mr. Carpenter submitting the resignation of
Miss Ruth McCrary as a junior file clerk in the Office of the Secretary,
to become effective as of the close of business on September 6, 1941,
and recommending that the resignation be accepted as of that date.
The resignation was accepted.
Letter to Mr. Roy Jackson, Administrative Officer of the Ofrice

of Production Management, reading as follows:
"Reference is made to the Board's letter of July 25,
1941 approving the temporary assignment to your office of
Mrs. Mary H. Conan, clerk in the Division of Bank Operations, for the period July 28 to August 31, 1941.
"Prior to the time that Mrs. Coman was to report to
Your office, we were advised informally that you were willing to withdraw the request for her services and, therefore,
the assignment has been cancelled."
Approved unanimously.
Memorandum dated August 5, 1941, from Mr. Morrill recommending

that the 1941 non-personal budget of the Board Members' Section for
the
account of "Stationery and Supplies" be increased $300.00 and that




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8/8/41

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the Service
Functions budget of the Secretary's Office for the account
of "Medical Service and Supplies" be increased .300.00.
Approved unanimously.
Memorandum dated August 6, 1941, from Mr. Parry, Chief of the
sion of Security Loans, recommending that the item "Repairs and
'Maintenance" in the 1941 non-personal budget of that Division be in
by an amount of 15.00.
Approved unanimously.

Thereupon the meeting adjourned.

Secretary.

APProved:




Vi e Chairman.