The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
121.8 MD:nutes of actions taken by the Board. of Governors of the Federal Reserve System on Thursday, July 14, 1949. PRESENT: Mr. Mr. Mr. Mr. Eccles, Chairman pro tem. Szymozak Vardaman Clayton Mr. Mr. Mr. Mr. Carpenter, Secretary Hammond, Assistant Secretary Morrill, Special Adviser Thurston, Assistant to the Board Minutes of actions taken by the Board of Governors of the Federal Reserve System on July 8, 1949, were approved unanimously. Minutes of actions taken by the Board of Governors of the Peclella Reserve System on July 11, 12, and 13, 1949, were approved 81714 the actions recorded therein were ratified unanimously. Memoranda dated June 24, 1949 from Mr. Young, Associate Director of the Division of Research and Statistics, recommending itcre ases in the basic annual salaries of the following employees °I) that D i ion, effective July 24, 1949: Name Title Mrs. Esther G. Crews Miss Thelma E. Ward Clerk Clerk Salary Increase To From ,t3,727.20 $3,8)2.60 3,175.44 3,3,1.00 Approved unanimously. Memorandum dated July 14 1949, from Mr. Bethea, Director' °f the Division of Administrative Services, recommending that the resignation of Mrs. Kathrine Boyd, a cafeteria helper in that Di ion be accepted in accordance with her request, at the close 1 219 7/14/49 of business, July 13, 1949. Approved unanimously. Letter to Mr. Leach, President of the Federal Reserve Bank Richraond, reading as follows: "In accordance with the request contained in your letter of July 12, 1949, the Board approves the designation of the following as special assistant examiners for the Federal Reserve Bank of Richmond: Robert T. Jones W. C. Crump Ernest G. Smoot, Jr. D. Frank Gwynn, Jr. "Appropriate notation will be made in our records of the name reported as a deletion." Approved unanimously. Letter to Mr. Davis, President of the Federal Reserve Ba4k of St. Louis, reading as follows: "This refers to your letter of June 30, 1949, requesting the Board's approval of the payment to Mr. Guy A. Thompson of a fee of $4,500 for legal services rendered by him and his associates in connection with the controversy relating to a part of the real estate upon Which the Federal Reserve Bank of St. Louis is located, cogether with a bill for cash outlays in the amount of $20.88. "It is understood that the professional services .clf Mr. Thompson cover a period from March 18, 1949 to J1Ine 27, 1949; that his services have involvedexten81-Ve research by him and his associates; preparation of !number of documents; filing of suit for specific perand numerous conferences. We also note that the members of the Executive Committee of your bank "were unanimously of the opinion that the fee is reasonable in view of the substantial amount of work Mr. Thompson has performed and the very favorable results Produced thus far. ap"You are advised that the Board of Governors stated Proves of the payment of the fee and expense as above. it Approved unanimously. Chairman pro tem.
@FedFRASER