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408 A meeting of the Board of Governors of the Federal Reserve 8Ystern was held in Washington on Thursday, March 8, 1945, at 10:30 PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman Szymczak 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— gter eferred to was taken by the Board: Federal The minutes of the meeting of the Board of Governors of the Reserve System held on March 7, 1945, were approved unanimously. the timillemorandum dated March 6, 1945, from Mr. Bethea, Director of orul,817 , 1:71 of Administrative Services, submitting the resignation 4 17 A. Deneen, a cafeteria helper in that Division, effective c-Lose of business on February 28, 1945, and recommending tha, th r • eelgnation be accepted as of that date. The resignation was accepted as rec— ommended. tiem —c)randum dated March 8, 1945, from Mr. Bethea, Director of 4111, II of Administrative Services, submitting the resignation of Ateie Ott e e urayton, a cafeteria helper in that Division, effective as lose, of business on March 7, 1945, and recommending that the 1.144 on be accepted as of that date and that proper payment be 409 3/8/45 -2- for the accrued annual leave remaining to her credit at that time. The resignation was accepted as recommended. Letter to the "Panhandle State Bank", Borger, Texas, reading as rfo., ow8 tt,, "The Board is glad to learn that you have completed b4 arrangements for the admission of your bank to meminr ! hiP in the Federal Reserve System and takes pleasure bers ' ransmitting herewith a formal certificate of your mem- : hip. "It will be appreciated if you will acknowledge reipt of this certificate." Ce Approved unanimously. Letter to the Presidents of all the Federal Reserve Banks reada8 frN't la, "Referring to the Board's letter S-677 of August 14, 147e43) there is enclosed for your information a copy of a ai:nndum from the Navy Department dated March 5, 1945, PIZ!' by Donald P. Welles, Commander, USNR, Chief of tel,;:le Division, stating that Lt. Smith has been trar:Islyti ecl from the Finance Division to duties in connection t411.." contract termination, and requesting that his signacel Z as Assistant Chief of the Finance Division be caned as of March 5, 1945." Approved unanimously. th Mem °I'anclura dated March 6, 1945, from Mr. Thomas, Director of e .orlsion . of Research and Statistics, recommending that the Fed"erve ert4or 11t1 1,111.er P -ystem continue in 1945 its cooperative study with the Associates of the wartime financial experience of medium manufacturing and trade concerns, approved by the Board 410 3/8/45 -3- '111)4 " 9, 1944, and submitting a revised schedule for securing fi11411cial data for 1944, which had been prepared jointly by officers "he Robert Morris Associates and members of the Board's staff. Approved unanimously. the Letter to Mr. C. R. Magone, Senior Solicitor, Department of Atto rneY-General of Ontario, Toronto, Ontario, reading as follows: w "Referring to our letter to you of March 1, 1945/ have now been advised that Mr. B. J. Lazar, Vice PresFederal Reserve Bank of Cleveland, will be availto testify at the hearing in the above matter to be itld in Cincinnati on April 4, 1945. Mr. Lazar is see zilanager of the Cincinnati Branch of the Federal Reof Cleveland, and it is suggested that any be —.4-te which need to be arranged can most conveniently .0_?rranged by your communicating with him directly at 4 ranchpl we can be of any further assistance to you, "If eaee do not hesitate to call upon us." Approved unanimously. Thereupon the meeting adjourned. eore•eixub Chairman. 1*-I'lcretaryf
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