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539 A meeting of the Board of Governors of the Federal Reserve SYstem was held in Washington on Monday, March 26, 1945, at 10:30 a.m. PRESENT: Mr. Mr. Mr. Mr. Ransom, Vice Chairman Szymezak Draper Evans Mr. Morrill, Secretary Mr. Carpenter, Assistant Secretary Mr. Thurston, Assistant to the Chairman The action stated with respect to each of the matters herein— after referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Pederal Reserve System held on March 24, 1945, were approved unani— mouslyMemorandum dated March 23, 1945, from Mr. Thomas, Director of the Division of Research and Statistics, reading as follows: "Following your conversation with Professor Hansen the other day, he discussed with me the possible future arrangements for his work and the staff which has been assigned to him. "Professor Hansen would like to remain with the Board on the existing arrangement until June 15. He is actively engaged on work on the Murray Bill and is a member of an informal group which is working closely With the sponsors of the Bill, especially Senator Murray. This group includes people from other Government depart— ments and agencies, at least one person from the National Planning Association, Mr. Gross of Senator Murray's staff, and Professor Hansen, MT. Domar, and Mr. Stettner of the Board's staff. At my request he has added Ken Williams, Who is working on matters relating to the Murray Bill and is preparing a draft of the Board's reply to Senator Wagner's letter. 540 3/26/45 —2-- "Professor Hansen wants to continue this work on the Murray Bill. He will probably come to Washington for two or three days every other week, which is the schedule that he has been following in recent months. This is a some— what reduced schedule from the earlier arrangement whereby he came two days every week. He is also willing to do any work that the Board may wish on the Bretton Woods Agreements and is keeping in touch with Walter Gardner for this purpose. "As to Professor Hansen's staff, we have in mind transferring it, intact, to the Musgrave—Williams sec— tion. Consideration is being given to their particular assignments but it seems likely that they may continue doing a lot of the same work that they have been doing for Professor Hansen; assisting Musgrave and Williams and covering subjects in fields not now adequately covered elsewhere by other members of the Division's staff." Approved unanimously. Memorandum dated March 24, 1945, from Mr. Bethea, Director of the Division of Administrative Services, recommending that the tem— Porary appointment of Mrs. Louise Wrightson, a charwoman in that Divi— sion, be extended for an indefinite period from April 1, 1945, with no change in her present basic salary at the rate of :11,200 per annum. The Memorandum stated that Mrs. Wrightson was a member of the Civil Service Retirement System. Approved unanimously. Letter to Mr. Rounds, First Vice President of the Federal Re— serve Bank of New York, reading as follows: "The Board of Governors approves the change in the personnel classification plan of the Federal Reserve Bank of New York, involving the increase in maximum annual sal— ary for the position of Office Clerk, Secretary's Office, 541 3/26/45 -3- "as submitted with your letter of March 16, 1945." Approved unanimously, together with a letter to the Wage Stabilization Divi— sion, National Nar Labor Board, transmit— ting a certificate of the Federal Reserve Bank of New Yorkwith respect to a salary increase at the Bank. Letter to Mr. Fletcher, Vice President of the Federal Reserve I3aak of Cleveland, reading as follows: "In accordance with the recommendation contained in your letter of March 19, 1945, the Board interposes no objection, under the terms of an applicable condition of membership, to the action of The Commerce Guardian Bank, Toledo, Ohio, in purchasing for $200,000, in No— vember 1944/ the bank premises and furniture and fixtures which were being rented from the liquidator of the pre— decessor bank." Approved unanimously. Thereupon the meeting adjourned. PProved: Vic Chairman.
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