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Minutes of actions taken by the Board of Governors of the Federal Reserve System on Monday, February 11, 1952. PRESENT: Mr. Mr. Mr. Mr. Martin, Chairman Szymczak Evans Vardaman Mr. Carpenter, Secretary Mr. Kenyon, Assistant Secretary Minutes of actions taken by the Board of Governors of the Federal Reserve System on February 8, 1952, were approved unanimously. Memorandum dated February 5, 1952, from Mr. Young, Director, Division of Research and Statistics, recommending that the resignati "of Margaret Anne Logee, Clerk in that Division, be accepted to be effective, in accordance with her request, at the close of business 4brIlary 15, 1952. Approved unanimously. Memorandum dated February 7, 1952, from Mr. Allen, Director, 14114ion of Personnel Administration, recommending that the following ltietilbere of the Board's staff be granted leave and reimbursement for tl'ellsPortation and other expenses incident to their attendance at the 1952 resident session of the Graduate School of Banking at Rutgers 1j4iversity, on the basis outlined in the Board's letter of June 18, 1948 (S-1024). 2/11/52 -2- Name Title Year of Attendance Kenneth A. Kenyon Raymond C. Kolb Third Assistant Secretary Technical Assistant, Division Third of Bank Operations Dwight L. Allen Director, Division of Personnel Second Administration Lloyd M. Schaeffer Federal Reserve Examiner, First Division of Examinations Approved unanimously, with the understanding that the expenditures incident to the attendance of Messrs. Kenyon and Kolb had not been provided for in the 1952 budgets of the Office of the Secretary and the Division of Bank Operations, respectively. Memorandum dated February 8, 1952, from Mr. Chase, Assistant S°1icitor, recommending for reasons stated therein that in accordance with the recommendation of the Federal Reserve Bank of Philadelphia, the Matter of Kirschner Bros., Philadelphia, Pennsylvania, a registrait under Regulation WI Consumer Credit, be disposed of by a susPension of the license of the registrant to do an instalment credit 11113iness for a period of two weeks and a court injunction restraining tIlltiler violations of the regulation. The memorandum stated that at torneys for the registrant had advised the Federal Reserve Bank that the registrant would consent to a suspension of license for the Pellod indicated. Approved unanimously. 01 f 2/11/52 _3_ Memorandum dated February 8, 1.952, from Mr. Hooff„ Assistant Counsel, recommending that there be published in the law department of the February issue of the Federal Reserve Bulletin statements in the form attached to the memorandum with respect to the following subjects: Real Estate Credit Maximum Maturity in Refinancing Consumer Credit Verification of OPS Ceiling Price "Combination Units" Interpretations Cancelled or Modified Approved unanimously.
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