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24 6f,4 Minutes of acti ns taken by the Board of Governors of the PAA Reserve System on Wednesday, March 1, 1970. PRESEET: Mr. Mr. Mr. Mr. McCabe, Chairman Eccles Szymczak Draper hr. Carpenter, Secretary Mx. Sherman, Assistant Secretary Mr. Kenyon, Assistant Secretary Minutes of actions taken by the Board of Governors of the eltel- Reserve System on February 28, 19)0, were approved y. 111.4 411xous1 Memorandum dated .'ebruary 28, 19)0, from Mr. Nelson, Director Ot the tivision of Personnel Administration, recommending an increase in the basic salary of Miss M. Callie Wickline, a nurse in t481:Division, from $3,725 to 4 2,850 per annum, effective March ), Approved unanimously. Pe cle„ea Letter to Mr. Laning, Vice President and Cashier of the Reserve Bank of Cleveland, reading as follows: "Reference is made to your Bank's letter of Febfoi:4 9) 19A, in which you advise that the expenses eze certain functions at your Head Office and branches " ( led the 1949 budget estimates as follows: PittsCinHead burgh cinnati Office $772 - 7 1/ R. Vote 152,500 2/ Issues 11Z),Stage and ExpressaGe $6,455 of Space $22,809 3/ -2- V-----±3---leludes $4/62o previously advised2/ Represents a reduction of $25,=100 in $177,800 Previously advised. V Includes *18,362 previously advised. APpropriate notations are being made in the Board's l'ecords concerning these overexpenditures." Approved unanimously. Memorandum from Messrs- Ycung, Thurston, and Bethea, reMillg as follows: 0„, "In order to promote wider use of both the monthly book and the historical supplement, especially by teachers and students of money and banking throughout the be reduced as ulltrY, follovs: it is recommended that prices Annual subscription to monthly book (including historical supplement) from $9.00 to $6.00 (b) Separate issues and historical supnlement—per copy from $1.00 to 6o cents (c) quantity purchases of separate issues and historical supplement (10 or more per shipment) from 72 cents to )0 cents efr "It is recommended that this price reduction become ;cti7e when announcement is made in the Bulletin of the rev( Qom edition of the historical supplement, now nearing , as! -etion. In order to release the historical supplement as it is printed, a decision on prices should be fc)r announcement in the March Bulletin. is also recommended that consideration be given to a complimentary distribution of chart books to ' der teaci, We ,:!rs of money and banking in colleges and universities. "Qerstand that a Special Committee on Relation of the Reserve System to Schools and Colleges appointed by th ! residents' Conference Committee on Bank and Public Rel,÷ eve;''°ns is considering this matter. We believe, how13e in, that a reduction in prices of the chart books should .endently of any decision on wider complimentary itIltp dista (a) 271. 3/1/50 -3- "The revised edition of the Historical Supplement to the, 4 .onthly Federal Reserve Chart Book will contain approxately 11) . pages of charts, some 40-4) more than appeared 21 the October 1949 issue. In addition, those charts in ,rle October editIon which ended with 1948 have been redrawn include plotting space through 19)1. In preparing this fevised edition it has been possible to achieve considerably balance not only within but among the sev,.!ral sections the book. A large number of new charts have been intlUded in the section on Bark Credit, and new sections on cal*ing Structure and Bank Earnings, Covernment Finance, and Bn81311er Finance have been provided. Also, the section on Zsiness Conditions has been enlarFed tc include new charts industrial production, prices, and agriculture. eai "It is estimted that 7,000 copies of this revised 1111,Yon will meet the demand for the historical supplement 1111V-1 early 19)1. The provision for chart books in the 19)0 to ' l€et for the Di-vision of Administrative Services is estimated ID0 : 1?e adequate to meet out-of-pocket cost for printing and for Iage for distributing this book." ' Approved unanimously. Memorandum dated February 23, 19)0, from Mr. Carpenter, allt"ing for approval by the Board a draft of letter to the 11)1'e2elitative members of the Federal Open Market Committee with '41lich it N as proposed to enclose drafts of entries for the policy eo ea"ring actions taken by the Federal Open Market Committee the Year 1949. The membrandum stated that after any 0 e741elits and suggestions of the representative members of the -°14ittee had. been received the entries would be placed in final submitted to the Board for approval. f.t, 'Ye2 The draft of letter was *unanimously. ov 'ecretary. Chairman
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