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720 A meeting of the Board of Governors of the Federal Reserve SYstem was held in Washington on 'Wednesday, May 2, 1945, at 10:30 PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman McKee 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 hereinafter referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Federal Reserve System held on May 1, 1945, were approved unanimously. Memorandum dated April 30, 1945, from Mr. Bethea, Director of the Division of Administrative Services, recommending that the teraPorary in appointment of Mrs. Evelyn M. Loveless, a cafeteria helper that Division, be extended for an indefinite period from May 4, 1945, and that her basic salary be increased from t1,080 to t1,240 allnum, effective May 16, 1945. The memorandum stated that Mrs. Love1 e88 would become a member of the Board's retirement system. Approved unanimously. Letter to the Attorney General reading as follows: "A copy of the bill of complaint in the case of John 0z_Ea_yD-weather v. Board of Governors of the ats-g-ZEt_gzatoll in the District Court of the United Stjl 'es for the District of Columbia, was served on the Board A 721 5/2/45 -2- "of Governors of the Federal Reserve System on April 30, 1945. We understand that a copy of the bill of complaint in this case was also served on the United States Attorney for the District of Columbia and that a copy was received by the Department of Justice. "Inasmuch as the Board of Governors of the Federal Reserve System is an agency of the United States, it will be appreciated if the Department of Justice will arrange to appear in this case on behalf of the Board. It is assumed that, in accordance with the usual practice, the matter will be referred to the United States Attorney for the District of Columbia, and, if agreeable to the Department, the Board would like to have its Legal Division collaborate Closely with him and lend all assistance possible in the matter. "In order to expedite the matter, the Board's Assistant General Attorney, Mr. Townsend, has already had an informal soussi0n with Mr. Curran, United States Attorney for the ulstrict of Columbia, as to the procedure in connection with this suit." 5 Approved unanimously. Letter to the Presidents of all the Federal Reserve Banks reading 48 follows: A . "There is enclosed a copy of a memorandum, dated bnl 27, 1945, received from the War Department, signed 1 14 Colonel Paul Cleveland, Chief, Advance Payment and Loan +ranch, in reply to questions which have been raised as ' c4) wl.iat amendments of an outstanding guaranteed loan or twill require the execution of a new guarantee agree8..1" aad what amendments may be effected by the use of uPPlements to existing agreements." Approved unanimously. Letter to the Presidents of all the Federal Reserve Banks readtrIg as foil ows: r_ "There are enclosed copies of memoranda received -i.-(Ym the War Department and Navy Department, dated April 722 51/2/45 —3— "27 and April 28, 1945, respectively, with further refer— ence to modifications of collateral under Section 11 of the 1943 Form of Guarantee Agreement and Section 7 of the 1944 V Loan Guarantee Agreement." Approved unanimously. Memorandum dated May 2, 1945, from Mr. Bethea, Director of the Divi • 81°n of Administrative Services, submitting a voucher in the amount of 123.21 covering expenses incurred by Glenn M. Goodman, a Federal Req -werve Examiner in the Division of Examinations, in connection with his trip to the Philippines pursuant to the Board's authorization of APril r )1 1945, and recommending that payment of the voucher be approved. Approved unanimously. Thereupon the meeting adjourned. kfN Proved: Secreta
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