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1 - 8 Pursuant to the action of the Board taken at its morning session, the Board reconvened at 2:30 p.m., January 9, 1922, in the office of the Board. PRESENT: Governor Harding Mr. Platt Mr. Hamlin Mr. Miller Mr. Mitchell Mr. Crissinger Mr. Eddy, Assistant Secretary. The Committee on Salaries and Charge Offs, recommended that approval be given to increases in salaries of officers and employes of the Federal Reserve Bank of Chicago, including the Federal Reserve Agent's Department, as set forth in the schedules accompanying letter from the Secretary of the Bank, dated Dec. 24, 1921, with the exception of salary increases recommended for Mr. C. L. Powell, Counsel, and Yr. F. Y. Huston, Manager of the Statistical and Analytical Department. Approved. The CoTmittee on Salaries and Charge Offs, recommended that approval be given to increases in salaries of employes of the Federal Reserve Bank of New York, including the Federal Reserve Agents Department , and its Buffalo Branch, as set forth in schedule accompanying letter dated December 29, 1921, from the Chairman of the Board of Directors of that Bank. Approved. -2- The Committee on Salaries and Charge Offs, recommended that approval be given to increases in salaries of officers and employes of the Federal Reserve Bank of San Francisco, as set forth in the schedule accompanying the letter from the Governor of that Bank dated December 24, 1921. Appro ved. The Committee on Salaries and Charge Offs, recommended approval of the increases in salaries of employes of the Federal Reserve Agent's Department of the Federal Reserve Bank of San Francisco, as submitted in letter dated December 20, 1921, from the Federal Reserve Agent of that Bank. Approved. The Committee on Salaries and. Charge Offs, recommended approval of the increases in salaries of Employes of the Board's Division of Analysis ` , P Research, as set forth in letter from the Director of that Division dated December 30. 1921. Approved. The Committee on Salaries and Charge Offs, recommended acceptance of the resignation, as of January 15, 1922, of Miss Estelle Simonson, Clerk in the Division of Analysis & Research, at salary of :1'11500 per annum, and. the approval of the appointment of Miss Dorothy Falk to fill the vacancy caused by the resia.tion of Miss Simonson, at salary of $1500 per annum, as set forth in letters of January 5th and 6th, from the Director of the Division of Analysis & Research. Appro ved. -3- The Committee on Salaries and Charge Offs recommended approval of the salary increases to employes of the Board, as set forth in memorandum dated January 5th, from the Board's Sub-Committee on Staff. Apprared. The Committee on Salaries and Charge Offs, recommended appro val of the suggestions made by the Chairman of the Board of Direc tors of the Federal Reserve Bank of Cleveland, in letter dated December 31, 1921, that the Bank continue with its plan for adjusting salar ies of employes less than Who receive/3,000 per annum, approved by Board under date of June 14, 1921, the Board, however, to waive the requiremen t that the Bank advise it each month of adjustments made, and in lieu thereof, the Bank be required to give such advice hereafter only at the ehd of each six months period. Upon motion, the Board voted to waive the requirement of monthly reports and permit reports of adjustments in salaries of eaployes receiving less than 3,000 to be submitted at the end of each six months period, with the understanding that the Bank's pay-roll for this class of employes will not be permitted to exceed t2.10,000. The Committee on Salaries and Charge Offs, recommended that the Board increase the salary of Yr. J. R. Van Fossen, an employe in the Board's Division of Reports and Statistics, from :',3600 to ',4000 per annum, and confer upon him the title of Assist ant Ohief of that Division. Approved. The Governor submitted a memorandum from Counsel with respect to compensation of notaries employed by the Federal Reserve Bank of Dallas. Approved. The Committee on Salaries and. Charge Offs recommended. that the salary of Mr. Goldenweiser, Associate Statistician, be increased from -4;4800 to A5400 per annum. Upon motion, the increase in salary for Mr.Goldenweiser was referred back to the Committee for reconsideration, in connection with salaries raid to other employes of the Board performing services of similar grade. At 4:35 p.m. the meeting adjourned. , Assistant Sec 1ary