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206 A meeting of the Board of Governors of the Federal Reserve SYstell wab held in Washington on Wednesday, February 7, 1940, at 11:00 PREsENT: Mr. Eccles, Chairman Mr. Mr. Mr. Mr. Mr. Dansam, Vice Chairman Szymczak McKee Draper Davis Mr. Mr. 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 herein- ti.rter ererred to was taken by the Board: The minutes of the meeting of the Board of Governors of the 441, &I' Reserve System held on February 6, 1940, were approved unani1110431..y. Memorandum dated February 5, 1940, from Mr. Van Fossen, AsqstEilat dtttm Chief of the Division of Bank Operations, submitting a letter Xantle, from Mr. Martin, President of the Federal Reserve 4rilt or St- Louis, which reauested approval by the Board of a change 144, 4110 1?erSOnnel classification plan of the bank to provide for an ee'e 1/1 the maximum salary for the position of "Head of DeparteXtt,, i k -11 the Personnel Department from t3,000 to 3,300 per annum. Il lti '111°I'sntharn stated that the proposed Change had been reviewed and cftred that it be approved. Approved unanimously. 207 V7/40 Letter to Mr. Gidney, Vice President of the Federal Reserve Of New York, reading as follows: r "Reference is made to your letter of February 1 tealestin approval of the appointments of three assis"4 tant.examiners and the designation of one special assis- m "The Board approves the appointments of Angus A. : 4 cinnes, Jr., Joseph F. Tierney and Daniel T. Clifford N- assistant examiners for the Federal Reserve Bank of w York. Please advise us of the dates they assume el duties as assistant examiners. The Board approves the designation of Dudley L. Welstead as a special tristant examiner, with the understanding, of course, he will not be transferred permanently to examine4-°n '2-ork without the Board's approval." j Approved unanimously. Latter to Mr. Heys, Secretary of the Federal Reserve Bank of Cleve" elid, reading as follows: toe "Referring to your letter of February 1, 1940, the A ZI of Governors approves the reappointnent of Messrs. F. .:,'Ythet Daniel R. Davies, Edward C. Folsom, Herman P. Neff, tlit -van C. Swander as members of the Industrial Advisory Come for the Fourth Federal Reserve District to serve for ' - s of one year each beginning iMarch 1, 1940." Approved unanimously. Thereupon the meeting adjourned. Chai man.
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