The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
113 A meeting of the Board of Governors of the Federal Reserve SYstem. was held in Washington on Tuesday, January 28, 1941, at 10:40 a.m. PRESENT: Mr. Eccles, Chairman Mr. Szymczak 2,cee Mr. Davis Mr. Draper Mr. Bethea, Assistant Secretary Mr. Carpenter, Assistant Secretary Mr. Clayton, Assistant to the Chairman Mr. Wyatt, General Counsel Jr. Dreibeibis, Assistant General Counsel There was presented a memorandum dated January 25, 1941, te°r11 14r. Draper submitting letters addressed to him by Mr. C. 0. Ngles, director of research of the Graduate School of Business Admi nistration of Harvard University, and Mr. Lynn Bollinger, 11/8 1.1ctor in finance at the School, relating to the conversation which the latter had had with Mr. Draper with respect to the Sng eetion that the Federal Reserve System distribute the reports bej "3 Prepared by the School on the subject of financing defense (31tells. The letter from Mr. Bollinger stated that the final re- Se of the material by the Graduate School and its acceptance for iStrib,4.z "uion by the Board must be contingent upon the satisfactory "Y of the complete manuscript and that the manner of presentacill tio,, ' of the material should make it clear that the statements 114 1/28/41 e°11tained therein were not those of the Board of Governors but represented an independent study by the Graduate School which was being de available through the Board's organization as a public service. Mr. Draper stated that no commitment had been made by him to 4" Bollinger with respect to the distribution of the reports hilt that it appeared that the subject matter of the study was such that t the Board might aopropriately undertake the distribution, par1 arlY in view of the Board's interest in increasing the partici- PI:t1.°11 of business concerns in the defense program. The matter was discussed briefly and referred to Messrs. Davis and Draper for recommendation to the Board. At this point Messrs. Wyatt and Dreibelbis left the meeting 44d the action stated with respect to each of the matters hereinafter referred to was then taken by the Board: The minutes of the meeting of the Board of Governors of the, 'ederal Reserve System held on January 22, 1941, were approved The minutes of the meeting of the Board of Governors of the Pede Ile.1 Reserve System held on January 25, 1941, were approved and the 'cuions recorded therein were ratified unanimously. Ur. Draper suggested that the Board authorize the payment 01 he cost of luncheons served to Messrs. Clayton Lane, American 115 V28/41 -3Calcutta, India, and Stanley Harris, President of the Trust Company, Chicago, Illinois, in the Board's dining oom on January 27, 1941. Approved unanimously. Thereupon the meeting adjourned. Assistant Secretary. Chairman.
@FedFRASER