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188 A meeting of the Board of Governors of the Federal Reserve Systell"ms held in Washington on Friday, February 8, 1946, at 11:00 a.m. PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman McKee Draper Evans Mr. Carpenter, Secretary Mr. Connell, General Assistant, Office of the Secretary Mr. Morrill, Special Adviser Mr. Thurston, Assistant to the Chairman The action stated with respect to each of the matters hereinreferred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Fed61'4k-3-Reserve System held on February 6, 1946, were approved unanimously. The minutes of the meeting of the Board of Governors of the Reserve System held on February 7, 1946, were approved and the a , c'ions recorded therein were ratified unanimously. Telegrams to Messrs. Treiber and McCreedy, Secretaries of the l'ecieral Reserve Banks of New York and Philadelphia, respectively, Mr. 13144.) Assistant Secretary of the Federal Reserve Bank of Cleveland, Leach, President of the Federal Reserve Bank of Richmond, Mr. 4114rcl, Vice President of the Federal Reserve Bank of Chicago, Mr. Stel'tart, Secretary of the Federal Reserve Bank of St. Louis, Mr. Powell, Pirst 11-1 -ice President of the Federal Reserve Bank of Minneapolis, Mr. Catur ell) Federal Reserve Agent at the Federal Reserve Bank of Kansas ettY Gilbert, President of the Federal Reserve Bank of Dallas, klad mr. Mangels, Vice President of the Federal Reserve Bank of San 444 CO, stating that the Board approves the establishment without 189 2/8/46 —2— change by the Federal Reserve Banks of St. Louis and San Francisco (311 February 5, and by the Federal Reserve Banks of New York, Phila— cielPhia, Cleveland, Richmond, Chicago, Minneapolis, Kansas City, Dallas, and San Francisco on February 7, 1946, of the rates of dis— colla and purchase in their existing schedules. Approved unanimously. Memorandum dated February 51 1946, from Mr. Thomas, Director or the -.A-vision of Research and Statistics, recommending that Ralph A. yo lIng be appointed an Assistant Director of that Division, with salary at the rate of $12,000 per annum, effective as of the date 11130n which he enters upon the performance of his duties after having Pass ed the usual physical examination. The memorandum stated that 111'..Y°1111g would become a member of the Federal Reserve Retirement SYstem. Approved unanimously. Memorandum dated February 4, 1946, from Mr. Thomas, Director or the Division of Research and Statistics, recommending that Morris A. Acielman be appointed as an Economist in that Division on a temporary for an indefinite period, with salary at the rate of $3,860 per / effective as of the date upon which he enters upon the perform— The ie of his duties after having passed the usual physical examination. Itleril°randum stated that Mr. Adelman was a member of the Civil Serv— "etlrement System and would continue as a member of that System. Approved, Mr. McKee not voting. 190 2/8/46 —3— Letter to Mr. McLarin, President of the Federal Reserve Bank Or Atlanta, reading as follows: "The Board of Governors approves the changes in the personnel classification plan of the Federal Reserve sank of Atlanta, involving the establishment of two new Positions as submitted with your letter of February 1, ' 1946.1, Approved unanimously. Letter to Mr. Meyer, Assistant Vice President of the Federal Reeerve Bank of Chicago, reading as follows: "The Board of Governors approves the change in the Personnel classification plan of the Federal Reserve Bank 5 Chicago, involving the changing of the name of the Bank lit3elations Department to that of Bank and Public Relations ePartment, as requested in your letter of January 25, 1946.0 Approved unanimously. Telegram to Mr. Caldwell, Federal Reserve Agent at the Federal Reeerve Bank of Kansas City, reading as follows: G. c "Board approves appointments of H. B. Fisher, Lee clx, and Earl 0. Streeter as Federal Reserve Agent's RePre sentatives at the Denver, Oklahoma City, and Omaha 411ches, respectively, with salaries as stated in your -,etter of February 4"It is noted from your letter that the three repre— sentatives will be placed upon the Agent's payroll and be 5 : oc1?1Y responsible to him, or during a vacancy in office Age ' igent, to the Assistant Federal Reserve Agent, and the of Governors for proper performance of duties. ” When not engaged in their duties as Federal Reserve Agent! pe , s Representatives they may, with the approval of the perral Reserve Agent or, in his absence, of the Assistant 1,2'eral Reserve Agent, and Vice Presidents in charge of wrpective Branches perform such work for the Branches as 11 not be inconsistent with duties as Federal Reserve 7 /3; 191 2/8/46 -4"Agent's Representatives. "Noted also that usual oaths of offices will be executed and forwarded to Board. Please advise effective dates of appointments." Approved unanimously. Letter to the "State Bank of Anoka," Anoka, Minnesota, reading as falOW8 "The Board is glad to learn that you have completed s arrangements for the admission of your bank to membera]. ,h1P In the Federal Reserve System and takes pleasure in 6ransmitting herewith a formal certificate of your membership. "It will be appreciated if you will acknowledge receipt of this certificate." Approved unanimously. Telegram to Mr. Delkoss, Vice President of the Federal Reserve of Dallas, reading as follows: 6 . "In view of circumstances set forth in your February .wIre, Board interposes no objection to accepting publica0 t3 ;°11.0n State form of December 31, 1945 condition report First State Bank and Trust Company, Lufkin." Approved unanimously. Thereupon the meeting adjourned. Chairman.