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587 A meeting of the Board of Governors of the Federal Reserve SYstem was held in Washington on Wednesday, May 14, 1941, at 4:00 PRESENT: Mr. Mr. Mr. Mr. Eccles, Chairman Szymczak McKee Draper 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 hereinatter referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Reserve System held on May 13, 1941, were approved unaniInOusly. Memorandum dated May 14, 1941, from Governor Szymczak, reg to the action taken by the Board on May 5, 1941, with respect to 4 , " Increase in the salary of William H. Glazier, Economic Assistant in the TH , ---v-Lsion of Research and Statistics, and stating that the Personnel c°mmittee had decided to recommend approval of a salary at the rate or 2,600 per annum for Mr. Glazier, effective May 16, 1941. Approved unanimously. the, M emorandum from, Mr. Nelson, Assistant Secretary, submitting ' esignation of Earl E. Botts as a porter in the Secretary's Oft ° become effective as of the close of business on June 4, 1941, 44d l‘ecommending that the resignation be accepted as of that date. The resignation was accepted. 588 5/14/41 Letter to Mr. Gilbert, President of the Federal Reserve Bank ofDallas, reading as follows: "The Board of Governors approves the changes in the Personnel classification plan of your Bank relative to '91e creation of three positions in the Defense Contract Service Department, as requested in your letter of May 9, 1941." Approved unanimously. Memorandum dated May 9, 1941, from Mr. Smead, Chief of the tivisi °n of Bank Operations, recommending that, in connection with t. the -lo rthcoming mid-year call reports, State bank members be reTlested to report their holdings of personal and retail installment Per in accordance with a schedule in the same form as that used 1/1th the December 1940 call, provided that the Comptroller of the 014.re 11°Y and the Federal Deposit Insurance Corporation will collect *1414r data from national banks and insured nonmember banks, reThe memorandum stated that the Division of Bank Operat'lqls had been informed by Mr. Upham that the Comptroller of the elll'I'eneYi s office was prepared to collect such data if the Board acted tavorably on this recommendation, and that Mr. Thompson of the Fedto Deposit Insurance Corporation had advised that he was prepared Inaks a favorable recommendation to the Corporation in the same Approved unanimously. Letter to Mr. Davis, President of the Federal Reserve Bank Or St, Louis, reading as follows: 589 5 14/41 -3- . "1 am glad to know that the chair which you occupled in the Board Room has arrived safely at your office. The Board has asked Me to say to you that it has taken the greatest of pleasure in presenting this chair to you as a token of its great esteem and in sincere appreciation Of the pleasure and benefit which the other members of the oard derived from your participation in its deliberations throughout the period of your service as a Member." Approved unanimously. Letter to Honorable A. W. Hall, Director of the Bureau of Engraving, reading as follows: , "Referring to your letter of May 8, it is estimated zislat Federal Reserve note printing requirements for the flscal year ending June 300 1943, will be approximately 9,000,000 sheets." Approved unanimously. Thereupon the meeting adjourned. eore&A e Chairman. HAA_eio Secretary.
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