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806 A meeting of the Board of Governors of the Federal Reserve System % held in Washington on Wednesday, June 9, 1937, at 9:45 a m • PRESENT: Mr. Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman Broderick Szymczak McKee Davis Mr. Mr. Mr. Mr. Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary Clayton, Assistant to the Chairman Consideration was given to each of the matters hereinafter referred to an d the action stated with respect thereto was taken by the Board: The minutes of the meeting of the Board of Governors of the Federal Reserve BYstem held on June 8, 1937, were approved unanimously. The minutes of the meeting of the Board of Governors of the Federal Ileserve BYstem with the Presidents of the Federal reserve banks, held on s'y 81 1937, were approved unanimously. Telegram to Mr. Young, President of the Federal Reserve Bank of Bos- stating that the Board approves the establishment without change by the t(3daY of the rates of discount and purchase in its existing schedule. Approved unanimously. Letter to Mr. Fleming, President of the Federal Reserve Bank of 144ds reading as follows: whic "This is to advise you that the Board approves the bond was executed on May 11, 1937, by Mr. Lester J. Henk i!d the American Surety Company of New York, New York, New svrks covering Mr. Henk as Alternate Assistant Federal Reerve Agent at the Federal Reserve Bank of Cleveland. "In accordance with the advice contained in your letter of April 50, 1937, and May 26, 1937, the Board is notifythe American Surety Company of New York, New York, New °rks that it is under no obligation on the bond executed 6/9/37 -2- "by it on August 1, 1936, covering Mr. Honk as Alternate to Assistant Federal Reserve Agent at the Federal Reserve Bank Of Cleveland, for any acts committed by him subsequent to April 15, 1937, the date upon which his title was changed to Alternate Assistant Federal Reserve Agent at the Federal Reserve Bank of Cleveland. A copy of the letter addressed to the bonding company in this connection is inclosed for your records." Approved unanimously. Letter to Mr. Preston, First Vice President of the Federal Re"e Bank of Chicago, stating that the Board approves the change in the 1161'sonnel classification plan of the bank, as requested in his letter of 3\111e 5) 1937, to provide for an increase in the maximum salary for the ion of "Analysis Clerk" in the Member Bank Accounts Department from $1)800 to ,2,000 per annum. Approved unanimously. Thereupon the meeting adjourned. Chairman.
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