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347 A meeting of the Board of Governors of the Federal Reserve 8Ystera Was held in Washington on Saturday, March 6, 1943, at 11:00 a •m. PRESENT: Mr. Mr. Mr. Mr. Eccles, Chairman Szymczak McKee Evans Mr. Mr. Mr. Mr. Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereinttel 'referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Pecier 41 Reserve System held on March 5, 1943, were approved unanimously. Memorandum dated March 1, 1943, from Mr. Goldenweiser, Director 't th e Division of Research and Statistics, recommending that C. Richard eclahl be appointed as an Associate Economist in that Division, with baate 8alarY at the rate of ;43,800 per annum, effective as of the date 11)ort ""lch he enters upon the performance of his duties after having Patiaect satisfactorily the usual physical examination. Approved unanimously. Memorandum of this date from Mr. Leonard, Director of the Diviqc14 °I* personnel Administration, submitting the resignation of Miss 411°1141U. 4°t the Fishburn as Interviewer in that Division, to become effective close of business on March 23, 1943, and recommending that the l'eNtlation he accepted as of that date. The resignation was accepted. 348 3/6/43 -2Memorandum dated March 5, 1943 from Mr. Smead, Chief of the 1)1Lvi. -1cm of Bank Operations, submitting the resignation of Miss Avelyn kehan_ as a secretary in that Division, to become effective as of the c-Lose of business on March 22, 1943, and recommending that the restgrliation be accepted as of that date. The resignation was accepted. Letter to Mr. Hays, Vice President and Secretary of the Federal lieserv_ e Dank of Cleveland, reading as follows: "This refers to your letter of February 25, 1943, enclosin l_g copies of the amended by-laws of the Cincinnati and Pitts'iurghbranches of your Bank as approved by the boards of direcr!rs of those branches on February 5 and February 24, 1 943, ' ePectively, and as previously approved by the board of dir:ctors of the Federal Reserve Bank of Cleveland on January ' 8) 1943. laws "It is noted that the effect of the amendments to the byYour branches is to remove the chief executive officer uls branch from the branch board of directors, and to protty'cle that the chief executive officer of the branch shall be tVointed by the Cleveland Board and shall have such title as boe Cleveland Board may determine. It is understood that your e4It'd i of directors has voted that the title of the chief exdenjve officer at each of the branches shall be 'Vice Presi- • "In accordance with the regulations of the Board of Gov- erZor her 1_8 regarding branches of Federal Reserve Banks, the Board DireuY approves the discontinuance of the office of Managing cirl ector at each of your branches and the designation of the 'ef executive officer of each branch as 'Vice President'." Approved unanimously. ttle Telegram to the Presidents of all the Federal Reserve Banks, readfollows: 11% rel,ard does not contemplate making a spring call for condition ill : : °1 te upon State member banks. You may so advise State bank° lelpartments for their confidential information. Understand 349 3/6/43 -3office has advised them that no such call for reports upon national banks is contemplated." Approved unanimously. Letter prepared for the signature of Chairman Eccles to Honorable Lindsay C. VVarren, Comptroller General of the United States, read- as follows: "Reference is made to your letter of February 8, sugPsting that a committee composed of representatives of the ,deral Reserve System, the Treasury Department, and the Of4clIce of the Comptroller General of the United States be rflesignated to consider problems relating to improper indorseLS on checks drawn on the Treasurer of the United States. checks dr "Since the Federal Reserve Banks, in handling awn on the Treasurer of the United States, act as fiscal gents and depositaries of the Treasury, we delayed replying letter until we could discuss the subject informally with Treasury representatives. "The Board of Governors of the Federal Reserve System Zd the Federal Reserve Banks are always anxious to cooperate ' 0'*(113r with Government officials in matters pertaining to the trrations of the Federal Reserve Banks as fiscal agents of tie United States and we shall be glad to have representamj ea of the System discuss with you, or such persons as you pe:Y designate, and with representatives of the Treasury Dee' l rilant the questions you raised in your letter of February : r 4.943. To initiate any such discussion, please have your D4Prasentative call Mr. E. L. Smead, Chief of the Board's 'vision of Bank Operations." Z Approved unanimously. Of Latter to Mr. Earhart, Vice President of the Federal Reserve Bank Sari Fr ancisco, reading as follows: re "Reference is made to your letter of February 26, 1943, thcP,!sting that the Board designate a person to represent ' of rederal Reserve Bank of San Francisco in the mutilation or ar; copper Plate bearing the facsimile signature and title ill:* E. Earhart, Cashier, which has been used in the sign14 °I' checks drawn on the Treasurer of the United States er sYmbol 17-368. 350 3/6/4 -4- "The Board has designated Mr. John DeLaMater of the Diof Bank Operations to represent your Bank in the mutiation of the plate and is today informing the Treasurer of the United States of this appointment. "Advice will be furnished you when the mutilation of the Plate has been witnessed." Alooroved unanimously. Thereupon the meeting adjourned. •Oire,40:0- oftt, Secretary. Chairman.
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