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Minutes of actions taken by the Board of Governors of the Federal Reserve System on Thursday, December PRESENT: Mr. Mr. Mr. Mr. 31, 1953. Szymczak, Acting Chairman Evans Mills Robertson Mr. Sherman, Assistant Secretary Mr. Kenyon, Assistant Secretary Minutes of actions taken by the Board of Governors of the Federal Reserve System on December 30, 1953, were approved unanimously. Telegram to the Federal Reserve Banks of New York, Atlanta, St. Louis, Dallas, and San Francisco stating that the Board approves the establishment without change by the Federal Reserve Bank of Dallas on December 24, by the Federal Reserve Bank of St. Louis on December 282 by the Federal Reserve Bank of San Francisco on December 29, and by the Federal Reserve Banks of New York and Atlanta on December 30, 1953, of the rates of discount and purchase in their existing schedules. Approved unanimously. Memoranda from appropriate individuals concerned recommending personnel actions as follows: Changes in status of appointment Esther P. Locke, Clerk-Typist, Division of Research and Statistics. From temporary (three months) to temporary indefinite, with no change in basic annual salary at the rate of $3,030, effective December 31, 1953. Peter Black, Laborer, Division of Administrative Services. From temporary (two months) to temporary indefinite, with no change in basic annual salary at the rate of $2,552, effective at the expiration of his present appointment. -2- 12/31/53 Salary increases effective January Name and title 3 1954 Division Basic annual salary To From Office of the Secretary Margaret J. Dougherty, Clerk Research and Statistics Louis Weiner, Chief, National Income, Moneyflows and Labor Section Francis R. Pawley„ Economist Elizabeth B. Settel Economist $3,535 $3,660 9,800 10,800 8,760 8,960 5,940 6114o 4,830 4,955 3,175 3,255 3,070 3,150 2,910 2,990 2,830 2,910 2,630 2,700 21490 2,560 International Finance Esther G. Crews, Supervisor, Information Center Administrative Services E. Allan McKinney, Operator, Tabulating Equipment Richard Shaker, Guard Reuben Rowzee, Chauffeur Martha Fink, Operator, Key Punch Vera V. Dulin, Cafeteria Helper Lettie Green, Charwoman Approved unanimously. Telegram to Mr. Gilbert C. Swanson, President, C. A. Swanson and Sons, Omaha, Nebraska, prepared pursuant to action taken at the meeting on December 1, 1953, and reading as follows: Board of Governors of the Federal Reserve System has appointed you a director of the Omaha Branch of the Federal 2231-12/31/53 _3 Reserve Bank of Kansas City for a two-year term beginning January 1, 1954, and will be pleased to have your acceptance by collect telegram. It is understood that you are not a director of a bank and do not hold public or political office. Should your situation in these respects change during the tenure of your appointment, it will be appreciated if you would advise the Chairman of the Board of Directors of the Federal Reserve Bank of Kansas City. Approved unanimously. Letter to The Montgomery County National Bank of Rockville, Rockville, Maryland, reading as follows: The Board of Governors of the Federal Reserve System has given consideration to your supplemental application for fiduciary powers, and grants you authority to act, when not in contravention of State or local law, as guardian of estates and committee of estates of lunatics. The exercise of these powers, in addition to those heretofore granted to act as trustee, executor, and administrator, shall be subject to the provisions of the Federal Reserve Act and the regulations of the Board of Governors of the Federal Reserve System. A formal certificate indicating the fiduciary powers which The Montgomery County National Bank of Rockville is now authorized to exercise will be forwarded to you in due course. Approved unanimously, for transmittal through the Federal Reserve Bank of Richmond. Assistant ecre ary
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