Full text of Minutes of the Board of Governors of the Federal Reserve System : Meeting Minutes, June 9, 1949, Volume 36, Part 2

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1013

Minutes of actions taken by the Board of Governors of the
Federal Reserve System on Thursday, June
PRESENT:

Mr.
Mr.
Mr.
Mr.

9, 1949.

Eccles, Chairman pro tem.
Draper
Vardsman
Clayton
Mr.
Mr.
Mr.
Mr.

Carpenter, Secretary
Sherman, Assistant Secretary
Morrill, Special Adviser
Thurston, Assistant to the Board

Minutes of actions taken by the Board of Governors of the

rederai

Reserve System on June

8, 1949, were approved unanimously.

Memoranda from the heads of the divisions indicated below,
recoinmend
ing increases in the basic annual salaries of the followeMployees in those divisions, effective June 12, 1949:
Nte of

Salary Increase
To
From

Title
Name
1;
'
14103 AND
$2,874.48
;l-AO
STAICil
Elva
Clerk
M. Morse
2,648.76
')
Clerk
Helen B. Arnold
061,,,3/49
2,724.00
Clerk
Patricia A. Mickelsen
-*cie OF TBE SOLICITOR
7 Secretary to Mr.
Frances C. Colvin
3,727.20
Townsend

$2,949.72
2,724.00
2,799.24
3,978.00

Approved ImAnimously.
Telegram to Mr. Volberg, Vice President of the Federal Reserve
likok
of San Francisco, reading as follows:
"Reurlet May 26. In view your recommendation Board
a
# pproves establishment and operation of two branches at
,,ilendale, California, by California Bank, Los Angeles,
"lifornia, provided absorption of First National Bank




6 9/49

-2-

"at Glendale is effected substantially as proposed and
with understanding that counsel for the Reserve Bank
will review and satisfy himself as to the legality of
all steps taken to effect the transaction and establish
the branches."
Approved unanimously.

d:




Chairman pro tem.