The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
926 Minutes of actions taken by the Board of Governors of the Pede.t. al Reserve System on Wednesday, June 9, 1948. PRESENT: Mr. McCabe, Chairman Mr. Eccles Mr. Draper Mr. Mr. Mr. Mr. Carpenter, Secretary Sherman, Assistant Secretary Morrill, Special Adviser Thurston, Assistant to the Board Memorandum dated June 7, 1948, from Mr. Thomas, Director 4 the, -ivision of Research and Statistics, recommending the ap- ktrv,_ ' teat Biola °11 of Miss Patricia Anne Mickelsen as a clerk in that Divi- a temporary indefinite basis, with basic salary at the kte qiee°I $2,318.76 per annum, effective as of the date upon which litere upon the performance of her duties after having 'q the usual physical examination. at4teCi The memorandum also that it was contemplated that Miss Mickelsen would bemember of the Federal Reserve retirement system. Approved unanimously. Memorandum dated June 3, 1948, from Mr. Bethea, Director °rthe Division of Administrative Services, recommending the apk4itelat of Luis F. Banos as a clerk in that Division, on a 'tt1417Y basis for a period of three months, with basic salary 4tthe rate of t2,168.28 per annum, effective as of the date 111)04141lich he enters upon the performance of his duties after N. Passed the usual physical examination. The memorandum 6/9/48 also -2- stated that it was not contemplated that Mr. Banos would bec°1118 a member of the Federal Reserve retirement system during -LuPloyment on a temporary basis. Approved unanimously. Letter to Mr. Diercks, Vice President of the Federal Reserve °f Chicago, reading as follows: "In accordance with the request contained in your letter of June 4, 1948, the Board approves the designa!im of Hugh P. Hayes as a special assistant examiner or the Federal Reserve Bank of Chicago." Approved unanimously. Telegram to Mr. Purrington, Assistant Vice President of the ?ede 1'41 Reserve Bank of Chicago, reading as follows: a "Retel 7th. Board authorizes your Bank not to t.2.67 penalty incurred by Northern Bank, Mil,ilkee, Wisconsin, for deficient reserves during lod ending May 15." Approved unanimously. 14g Letter to the Presidents of all Federal Reserve Banks read8 follows: st., "In its letter of December 16, 1947 the Board 1.9 ed that it had decided to postpone until July 1, IT:g° further consideration of the proposal that if a uor or nonmember clearing bank deposits in its FedReserve Bank or branch a daily average of more til-44 1,,+,.300 cash items payable in the territory of to' uer Federal Reserve Bank or branch it be required 8ort and list the items separately. In order that the Board may have information as to be 'ns number of such cases which now exist, it will aPpreciated if you will furnish the Board with a yon showing the names of banks which deposit with Bank or its branches, during the week beginning 948 V9/48 "June 21, a daily average of more than 300 cash items payable in the territory of another Federal Reserve Bank or °Much (including other offices in your district), showing also the average daily number of such items which were payable in the territory of each other Federal Reserve Bank or branch." Approved unanimously. Memorandum dated May 26, 1948, from Mr. Myrick, Assistant Ittec tor of the Division of Bank Operations, recommending, pursuant to, recommendation of the Conference of Presidents at its meetFebruary 25-261 1948, that the Board authorize the calling SYstem accounting conference to be held in Washington at a to be agreed upon with the Committee on Accounting of the Prssi clents' Conference. Approved unanimously. )0 11111 14 lAgLAIL-AL A.•..m. ) s (1 _-6a,"&f____ Chairman. w e-tary.
@FedFRASER