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138 A meeting of the Board of Governors of the Federal Reserve SYstem was held in Washington on Wednesday, January 26, 1944, at 11:00 PRESENT: Mr. Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman Szymczak McKee Draper Evans 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 hereinafter referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Ped,„ 'ral Reserve System held on January 25, 1944, were approved unani111°11sly. Memorandum dated January 24, 1944, from Mr. Morrill submitting the re _. 81 ation of lass Elizabeth Johnson as a junior file clerk in the Secretary's Office, to become effective as of the close of busi- tle38 °a January 31, 1944, and recommending that the resignation be accePted as of that date, with the understanding that the annual leave al'atlable to her will be taken by that time. The resignation was accepted. Letter to Mr. Meyer, Assistant Cashier of the Federal Reserve or Chicago, reading as follows: "The Board of Governors approves the changes in the Personnel classification plan of the Detroit Branch, in1431viag the establishment of three positions, as submitted 139 1/26/44 -2- "with your letter of January 22, 1944.11 Approved unanimously. Letter to Mr. Hitt, First Vice President of the Federal Reserve Bank -, ul St. Louis, reading as follows: "The Board of Governors approves the changes in the personnel classification plan of the Federal Reserve Bank of St. Louis, involving the Bank Examination Department, aS submitted with your letter of January 19, 1944." Approved unanimously. Letter to Mr. Powell, Secretary of the Federal Reserve Bank of Ilneapolis, reading as follows: "Receipt is acknowledged of your letter of January 17) 1944, advising that at the meeting of the Board of Directors held on that date all officers of the Federal Reserve Bank of Minneapolis and the Helena Branch were !:?aPpointed, with the exception of the President and First vlce President whose terms of office are fixed by statute. "It is noted from your letter that the Board of Dictors cast their ballots for Messrs. J. N. Peyton and L I G. Leedy as member and alternate member, respectively, rthel, Felizt Open Market Committee for the year beginning The Board of Governors approves the appointment of ssrs. Sheldon V. Wood, John M. Bush, C. O. Follett, and A] :bert L. Miller as members of the Industrial Advisory Com-ttee for the Ninth Federal Reserve District to serve for aerms of one year each beginning March 1, 1944, in accord_nee with the action taken by the Board of Directors, as reported in your letter." T Approved unanimously. Letter to Mr. Day, President of the Federal Reserve Bank of San P1'4ric.: eo, reading as follows: "Reference is made to the letter addressed to Mr. H°4111[110nd of the Loard's staff, dated January 13, 19144, 105r Mr. 140 1/26/44 -3- "J. M. Osmer, Assistant Cashier of your Bank, and previous correspondence, with regard to the request made by Mr. V. R. Power, 15651 Woodland Drive, Dearborn, Michigan, for the redemption of certain United States tar Savings Bonds which had been held in safekeeping by your Bank. "It is suggested that you communicate directly with Mr. Power regarding this matter. A copy of Sour letter to Mr. Power is enclosed herewith. "In the light of the situation as developed in this ease, it is suggested that the practice followed by your P,rank in connection with the safekeeping of United States ar Savings Bonds be reviewed in consultation with counsel for your Bank." Approved unanimously. Thereupon the meeting adjourned. Secretary. Approve Chairman.
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