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1133 A meeting of the Board of Governors of the Federal Reserve SYste m was held in Washington on Thursday, June 4, 1942, at 2:15 p•m.• PRESENT: Mr. Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman Szymczak McKee Draper Evans Mr. Bethea, Assistant Secretary Mr. Carpenter, Assistant Secretary Mr. Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereinerred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Ner al Reserve System with the Executive Committee of the Federal Adn %douncil held on June 3, 1942, were approved unanimously. The minutes of the meting of the Board of Governors of the 41ial b "eserve System held on June 3, 19421 were approved unanimously. Ilemorandum dated June 2, 1942, from Mr. Smead, Chief of the Diof B Operations, submitting the resignation of Dora W. Martin : bl tieleilc in that Division, to become effective as of the close of ess on June 13, 1942, and recommending that the resignation be aNted as of that date. The resignation was accepted. Letter to Mr. Nardin, Chairman of the Federal Reserve Bank of `44.144011i, / reading as follows: "rte4erring to Govyour letter of May 28, 1942, the Board Il°r8 approves payment of salaries to the following el ' 1134 6/4/42 H , th off"L cers of the Bank for the year beginning June 1, 1942, at e rates fixed by your Board of Directors: "Name Chester C. Davis P. Guy Hitt Olin M. C. U. Attebery A. H. Stewart S. P. Haill P. N. Gilmore G. O. Hall Lewis Hollocher H. L. H. B Ca.rstarphen ailey Renry H. Pd/iiiston Howard H. lijeigel Charles A. Fred Schacht Burt°r1 Stariley B. Jenks 17, H. 8., ulasg ow 0. Z.,. Belcher Martin Arthur F. Bailey Clifford Wood Clay. Childers Title President First Vice President Vice President Vice President and Secretary Assistant Cashier Assistant Cashier Assistant Cashier Assistant Cashier General Counsel General Auditor Assistant Vice President Assistant Vice President Annual Salary 425,000 18,000 15,000 10,000 7,500 7,000 6,000 5,000 7,000 6,600 6,500 3,600 Louisville Branch Managing Director Cashier Assistant Cashier 8,000 4,200 4,000 Memphis Branch Managing Director Cashier Assistant Cashier 10,000 5,300 4,800 Little Rock Branch Managing Director Cashier Assistant Cashier 9,000 4,800 3,600" Ap,)roved unanimously. Lette „ 4114.11 '60 Mr. Day, President of the Federal Reserve Bank of el8c°, readina as follows: per8o"The Board of Governors approves the changes ,nqes in the rerinel cla ssification plan of your Bank ma Branches quested in your letter of May 22, 1942." Approved unanimously. 1135 -3_ Telear,,Im to the Presidents of all the Federal Reserve Banks, read; 41g as follows: rece."Several Federal Reserve Banks have advised they have ( .4 ,lved letter from National Automatic Merchandising Asso,, -:•a"-011, Chicago, asking for information as to number of " dlelc.els on hand at various dates, such information being te .81red in connection with change in composition of new cent pieces. Have discussed matter with Treasury ? suggest that National Automatic Merchandising Asso' i, 3-0 .n be advised that any information with respect to ex1$ 811.12; 6 Stocks of five cent pieces should be obtained from easurY Departmenti." Approved unanimously. Thereupon the meeting adjourned. Assistant Secretary. Chairram
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