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881 A meeting of the Board of Governors of the Federal Reserve 8Yetealwas held in Washington on Monday, June 14, 1943, at 11:00 a.m. PRESENT: Mr. Mr. Mr. Mr. Mr. Ransom, Vice Chairman Szymczak McKee Draper Evans Mr. Mr. Mr. Mr. Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereina`rt referred to was taken by the Board: The eral lt minutes of the meeting of the Board of Governors of the Fed- "erlre System held on June 12, 1943, were approved unanimously. 4temorandum of this date from. Mr. Morrill, recommending that t 4 MarY A• Forrest be appointed as a cafeteria helper in the Secre4 ) 718 clah ice on a temporary basis for a period of not to exceed 60 'with salary at the rate of $1,080 per annum, effective June 14, 943. Approved unanimously. MeMorandum dated June 12, 1943, from Mr. Morrill, recommending bert P. Warner, a clerk in the Accounting Section of the Secret ot 1943 rice, be granted leave of absence without pay beginning June 80 that NAir he might enter active duty with the United States urPs Reserves, and that he be granted the benefits provided p °I-icy adopted by the Board on November 14, 1940, and amended w.tat 20 111 '1941, for all employees entering military service. 882 6114/43 -2Approved unanimously, with the understanding that the payment of one month's unearned salary would be at the rate of basic salary plus overtime. Letter dated June 8, 1943, from Kit Williams, submitting his resign atIon as Attorney in the Legal Division, to become effective as Ot the close of business on June 15, 1943, instead of the close of busi488 JIllY 31, 1943, as requested in his letter of May 1, 1943. The resignation was accepted, effective as of the close of business on June 15, 1943. Memorandum dated June 11, 1943, from Mr. Goldenweiser, Direc- to% er the. plvision of Research and Statistics, submitting the resignat14401, es Mildred Crews as a clerk-stenographer in that Division, to , oltte er ective as of the close of business on July 23, 1943, and rectole . that the resignation be accepted as of that date. The resignation was accepted. emorandum of this date from Mr..Morrill, recommending, for the th ()11 stat. -ed in the memorandum, that Harry Sousa, a cafeteria helper in eret.a t -17 s Office, be separated from service, effective as of the Cloae c't b usiness on May 31, 1943. Approved unanimously. , 14414 Letter to the eresidents of all the Federal Reserve Banks, g as follows. For your information there is enclosed a copy of a memoraxi : to 14:1-1411 dated May 22, 1943 from the Navy Department addressed ot pit; amead, signed by William A. Coolidge, Assistant Chief Nee. ance Section. This memorandum is in reply to a letter ihej /fed by one of the Federal Reserve Banks from a financing wh.tea ution making application for a guarantee of a loan, - application was declined by the Navy Department on the 883 6/14/43 -3ft riground that it was unwilling to guarantee the loan as the for the material was not sufficiently great to warrant iie NavY taking any financial risk. The position taken in J. Coolidge's letter is not a general policy adopted under "gulation V. It relates solely to the Navy Department." j Approved unanimously. Telegran to Mr. Ford, Vice President of the Federal Reserve 41 ot .dalias, reading as follows: oRe t, p Your telegram June 12, Regulation W does not permit the exof additional credit for accessories such as a radio or but does permit addition for cars with overdrive as extra nt. See enclosure with Board's letter dated March 21, 19 Approved unanimously. Thereupon the meeting adjourned. Secretary.
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