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A meeting of the Board of Governors of the. Federal Reserve tera was held in Washington on Monday, June 2, 1941, at 11:00 a.m. PRESENT: Mr. Mr. Mr. Mr. 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 hereinEit.t'ar referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the ederal Reserve System held on May 31, 1941, were approved unanimously. Memorandum from Mr. Carpenter recommending that, for the reason tecl in the memorandum, William D. Thompson be appointed as a clerk the Office of the Secretary, with salary at the rate of $1,620 per 11r4) effective as of the date upon which he enters upon the performee o.k. Ills duties after having passed satisfactorily the usual physical Approved unanimously. Letter to the board of directors of the "State Bank of Arthur", 114111r) Illinois, stating that, subject to conditions of membership 11114 r e-e-, 1 to 3 contained in the Board's Regulation H, the Board apDrove 8 the bank's application for membership in the Federal Reserve 8rIltem and for the appropriate amount of stock in the Federal Reserve 44k of Chicago. 6/2/41 -2- Approved unanimously for transmission through the Federal Reserve Bank of Chicago. Mr. Morrill suggested that the Board authorize the payment of the Cost of luncheons served in the Board's dining room today to Messrs. red Berger, John Evans, and Elbridge Brown, who constituted a comkittee from the Pennsylvania Bankers Association and who met with memher., of the Board and staff today to discuss the draft of handbook pre' Pared bY the committee covering the operation of common trust funds osed principallY of mortgages. Approved unanimously. Thereupon the meeting adjourned. Secretary. 11111%0Ited: Vice Chairman.
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