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A meeting of the Board of Governors of the Federal Reserve airstem was held in Washington on Tuesday, June 10, 1941, at 2:00 PRESENT: Mr. Mr. Mr. Mr. Ur. Eccles, Chairman Ransom, Vice Chairman Szymczak McKee Draper Mr. Morrill, Secretary Mr. Carpenter, Assistant Secretary Mr. Clayton, Assistant to the Chairman The action stated with respect to each of the matters herein41rter referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Pede ral Reserve System held on June 9, 1941, were approved unanimously. Telegram to Mr. Winfield W. Riefler, Professor of Social Sciences, stitute for Advanced Study, Princeton, New Jersey, reading as follows: "Effective July 1, !ral Reserve System has rederal Reserve Bank of ?f term ending December nave your acceptance by 1941, Board of Governors of Fedappointed you Class C director of Philadelphia for unexpired portion 31, 1941, and will be pleased to collect telegram." Approved unanimously. Telegram to Mr. Young, President of the Federal Reserve Bank "ch.leago, reading as follows: . "Referring your June 6 telegram, Board approves fol°17Ing new positions in Research and Statistics Department ' c)f Bank's Personnel Classification Plan: Manager, maximum ala . t(6,000; and Assistant Manager, maximum salary $5,500. 4-ease furnish Form A pages for these positions. It is ' Understood that it is Bank's intention to eliminate in near . 70S "future positions of Economic Adviser, maximum $3,000, and Statistical Adviser, maximum P,5,400, and that Bank Proposes to defer decision with respect to change in position of Chief, maximum $ 1000, until return of Mr. Poster, who receives a salary of $3,600 and is now on sick leave. Board will interpose no objection to employment of Karl R. Bopp as Manager and of John K. Langum as Assistant Manager, Research and Statistics Department, at maXimum salaries provided for such positions in Personnel Classification Plan." Approved unanimously. Thereupon the meeting adjourned. Secretary. Chairman.
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