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902 Minutes of actions taken by the Board of Governors of the ?ederal Reserve System on Monday, June 7, 1948. PRESENT: Mr. Mr. Mr. Mr. Eccles, Chairman pro tem. Szymczak Draper Clayton Mr. Sherman, Assistant Secretary Mr. Morrill, Special Adviser Mr. Thurston, Assistant to the Board. Minutes of actions taken by the Board of Governors of the FedtrEll Ite serve System on June 2, 1948, were approved unanimously. tkla Minutes of actions taken by the Board of Governors 'serve System on June 4, 1948, were approved and the record of the Fedactions ed therein were ratified unanimously. Memorandum dated June 7, 1948, from Mr. Thomas, Director the Di of Research and Statistics, recommending that r bt tieesignation of C. R. Harley, an economist in that Division, the cePted to be effective, in accordance with his request, at the ei ki144)"e of business June 20, 1948, with the understanding that Ie tr silra Payment would be made for annual leave remaining to as of that date. Approved unanimously. or Letter to Mr. Stevens, Chairman of the Federal Reserve Bank 114, reading as follows: ita.4 ,,"The Board of Governors has received Deputy ChairAllai7erst letter of April 15, 1948, advising that the tiw : 44g Committee has considered the report of examina- Of Your Bank made as of February 20, 1948, by the 903 6/748 780erdl5 examiners, and President Sproul's letter of 4111 15 covering the review of the report made by the °facers of the Bank, and that the report and the letter were presented to the Board of Directors at its fleeting on April 15. "The Board is naturally pleased at the expression °f the appreciation of your directors of the manner in ich the examination was conducted. , "The Board has noted in Mr. Sproul's letter of ;Pril 15, to Deputy Chairman Myers that the Bank's oficers are actively pursuing the questions raised by fh f e examiners of changing the procedure of making transe of gold under earmark which questions were raised t'cli the view to increasing operating efficiency. The e'rd would appreciate being informed of any future "'llages which may be made along these lines." Approved unanimously. Of Letter to Mr. McLarin, President of the Federal Reserve Bank Atialite ) reading as follows: "This refers to your letter of April 27, 1948, ro:',11 respect to the plans for the building proposed the the Jacksonville Branch, in which you state that jn:conditions set forth in the Board's letter of : 111 1118- 1 1 19, 1948, that give you the most trouble are Oiers 1 and 2 relating to the location of the buildp1 : 15 and the provision for sufficient structure to "ide for additional floors. The Board has again reviewed the subject in the hi tt of the statements contained in your letter and : 141 discussion of the matter with Governor Vardaman e,;13 You were here last week. It still believes, howthat approximately 35 feet in the rear of the sh°111d be reserved for parking and for an additio , (le; to the building at a later date should that be qelible and, accordingly, does not consider it advistto make changes in the conditions set forth in to i.rtter of January 19, 1948, except with respect items covered by its letter of April 12." Approved unanimously. Telegram to Mr. E. C. Fussell, Deputy Governor of the Reserve Ne /./ Zealand, Wellington, New Zealand, reading as follows: 904 6/7/48 _3_ , "We shall be gratified to receive visit from Mr. Ross apout whom you cabled on June 3. Will you please let us what Mr. Ross' fields of special interest are, so 'hat we may arrange for him to meet and talk with approprite persons? We shall look forward to the pleasure of seehim about July 22 as you indicated." I Approved unanimously. ) . As istant Secretary. 4PPro Chairman pro tem.
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