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307 A meeting of the Board of Governors of the Federal Reserve S3rs— ter4 wa8 held in Washington on Saturday, February 24, 1945, at 10:30 a.m. PRESENT: Mr. Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman Szymczak McKee Draper Evans Mr. Morrill, Secretary Mr. Carpenter, Assistant Secretary Mr. Thurston, Assistant to the Chairman The action stated with respect to each of the matters herein4tter r eferred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Fed— erei serve System held on February 23, 1945, were approved unanimously. Ilemoranda dated February 19 and 20, 1945, from Mr. Thomas, Di— I tor the to of the Division of Research and Statistics, recommending that 11°1113-hg increases in basic annual salaries of employees in that 1°11 be approved effective at the beginning of the first payroll Deriod f °J-lowing approval by the Board: tam e _....-Eil.ter R. Designation Gardner /4N5r Piser D?r,kik R. -4)''.41c1 I Garfield 1111;r'Zobinson ' 41 0. Litchfield Bergelin C il'i-i•aYtort C. Bunce Gelman l ierinectr ei Ilt-"llt'1" orne veeli Doma4r Chief, International Section Chief, Government Securities Section Economist Economist Economist Economist Economist Economist Economist Economist Economist Approved unanimously, effective March 1, 1945. Salary Increase To From $8,500 $9,000 7,000 7,000 6,500 6,200 5,800 5,600 5,600 5,600 4,800 4,000 7,500 7,500 7,000 6,500 6,500 6,000 6,000 6,000 5,200 4,400 308 2/24/45 -2Letter for the signature of Mr. Hammond to Mr. V. Manuel Valdes, 8ecret arY, Banco Central de Reserva de El Salvador, San Salvador, El Salv or, reading as follows: a_ "The request in your letter of December 30 to Mr. ,,A ldenvkreiser has had the careful attention of the Board ` ' ' 4 Governors, and the Board regrets that it finds itself Unable to recommend some one to assist in the reorganiza1°n of the Mortgage Bank of El Salvador. We have rePseatedly tried to obtain help before, especially for our cecorld mission to Paraguay, but without success. This 8° .11,, c13-tion is largely due to the war, of course, and pos4-1,1 may be better later on. sid "Mr. Triffin and I have given the subject much cont4 "ation, and we regret having to give you such a nega:Lye rep],y, especially since our pleasant associations past make us feel particularly interested in being re eJ-Pful to you. Mr. Triffin asks me to speak of his happy tie°11eotions of his visit to your Bank and his conversa°n8 with Mr. Alfaro, its President." Approved unanimously. Letter to Mr. J. M. Peterman, Secretary, Federal Interdepart- s afety Council, Division of Labor Standards, reading as follows: 1_, "Pursuant to the request contained in Mr. Blake's tter. of February 15, 1945 to Chairman Eccles, the Board bi Governors has designated Mr. Fred A. Nelson, Assistant a';r?ctor, Division of Administrative Services, to serve 8„plts representative on the Federal Interdepartmental -4-etY Council." 4 Approved unanimously. e Memorandum dated February 22, 1945, addressed to the Personnel 'qttee b Y Mr. Leonard, Director of the Division of Personnel Adminis,I011_ 'recommending that approval be given to the payment of bills t4 g44aollrit of $20 from Dr. Fishback, and $30 from Drs. Groover, 309 2/24/45 —3- 414-tie, and Merritt for X—rays, in connection with the physical ex— aldllation of Mr. Herbert A. Johnson, Administrative Assistant in the tivision of Personnel Administration. Approved unanimously. Thereupon the meeting adjourned. ' Wer4t.;Pry` Secreta . Chairman.
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