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les A meeting of the Board of Governors of the Federal Reserve 8/'stea was held in Washington on Wednesday, February 9, 1938, at 11:30 a. s PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman Szymczak McKee JJavis Mr. Bethea, Assistant Secretary Mr. Carpenter, Assistant Secretary Mr. Clayton, Assistant to the Chairman Consideration was given to each of the matters hereinafter reto and the action stated with respect thereto was taken by the kam: The minutes of the meeting of the Board of Governors of the Fed Reserve System held on February 8, 1938, were approved unani 11041317. Memorandum dated February 9, 1938, from Mr. Carpenter, Assist4ht S ecretary, referring to the action taken by the Board on February 3 ill granting to Miss Elizabeth Thompson, a temporary file clerk in tte Files, leave of absence without pay on account of illness, and etet ing that the doctor had recommended that Miss Thompson return to 1 her , -Qme in Virginia for a thorough rest and, that therefore, she 11441 tendered her resignation in a letter to the Board dated February a'1938. The memorandum recommended that Miss Thompson's resignation ceePted as of the close of business on February 8, 1938. Approved unanimously. , 169 2/9/38 -2Telegram to Mr. Evans, Vice President of the Federal Reserve B"Ic of lianas, reading as follows: "In accordance with your request, Board approves salary rate of 4,700 per annum for Assistant Examiner Mann." Approved unanimously. Letter to Mr. Worthington, First Vice President of the Federal Re8erve Bank of Kansas City, reading as follows: "Reference is made to your letter of January 26, 1938, and inclosure, relative to the services of Messrs. Harvey B. Goodjohn, Samuel H. Wilson, H. R. Willson, and S. C. Parker who are serving as directors and/or officers of The Army National Bank of Fort Leavenworth, Fort Leavenworth, Kansas, and other banks in Leavenworth, Kansas; and presenting for the consideration of the Board the question whether Fort Leavenworth and Leavenworth, Kansas, are 'contitlous or adjacent' within the meaning of the exception set forth in section 2(d)(5) of the Board's Regulation L. "It is understood that Fort Leavenworth, Kansas, is military reservation of the United States Government and ls not a city, town or village incorporated by law. Althe southern boundary line of the military reserve'ion and the northern corporate line of the city of Leavenworth apparently touch or coincide in part, the military reservation comprises an area of more than five thousand s and the Post settlement, which apparently constiic a;:s the principal trade area of The Army National Bank °I. Fort Leavenworth, appears to cover only a small portion (31" the total area of the reservation and is some distance from the corporate limits of the city of Leavenworth. "It appears further that The Army National Bank of Iart Leavenworth is situated in the Post Exchange building which is located in the heart of the reservation; that its customers consist almost exclusively of army officers no. enlisted men who are or were at one time stationed at military reservation; that it does not transact business with the civilian population of the city of Leavenworth; nd that it is not a competitor of any of the banks located 1 the city of Leavenworth, Kansas. Z Z 170 2/9/38 -3- "In view of all the circumstances, the Board is of the opinion that Fort Leavenworth and Leavenworth, Kansas, should not be considered to be 'contiguous or adjacent' within the meaning of section 8 of the Clayton Act; and accordingly, the exception set forth in section 2(0(5) of the Board's Regulation L is applicable to the services of individuals serving The Any National Bank of Fort Leavenworth, lort Leavenworth, Kansas, and other banks located in the city Of Leavenworth, Kansas. Please advise Mr. S. C. Parker in accordance with these views." Approved unanimously. Thereupon the meeting adjourned. Assistant Secretary. SA;
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