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Minutes of actions taken by the Board of Governors of the Reserve System on Monday, July 30, 1951. PRESENT: Mr. Szymczak, Chairman pro tern Mr. Evans Mr. Carpenter, Secretary Mr. Sherman, Assistant Secretary Mr. Kenyon, Assistant Secretary Memorandum dated July 25, 1951, from Mr. Bethea, Director, 114104 of Administrative Services, recommending an increase in the 1144ic salary of R&yniond C. Twomey, Supervisor, Duplicating and Mail °11, from $4,575 to $4,700 per annum, effective August 5, 1951. Approved unanimously. Letter to Mr. Neely, Chairman and Federal Reserve Agent of the ral Reserve Benk of Atlanta, reading as follows: "In accordance with the request contained in /°11•1' letter of July 19, 1951, the Board of Governors ept2roves the payment of salary to Anna Lou Cullom, ral Reserve Agent's Representative, Nashville effective August 1, 1951, at the rate of YJ)180.00 per annum." Approved unanimously. Letter to Mr. Roger W. Jones, Assistant Director, Legislative Bureau of the Budget, Washington, D. C. r reading as follows: This is in response to the telephone request Your office this morning for the views of the to2Lrd regarding enrolled bill S. 1717 'To amend and trrnd the Defense Production Act of 1950 and the Utilkg and Rent Act of 1947, as amended.' 7130/51 -2- "Certain provisions of this bill relating to credit control are not in accordance with the Board's views as to the most appropriate legislation on this subject. However, since the essential credit control Provisions of the present law would be retained and 8inee the powers conferred by these provisions would Otherwise expire on July 31, 1971, the Board sees no reason, so far as these provisions are concerned, why the bill should not be approved by the President." Approved unanimously.
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