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741. A meeting of the Board of Governors of the Federal Reserve SYstem was held in Washington on Thursday, May 20, 1 9432 at 11:00 a.m. PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice 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 herein— atter re ferred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Pederal Of Ric Reserve System held on May 19, 1943, were approved unanimously. T elegram to Mr. Keesee, Secretary of the Federal Reserve Bank hm°nd2 stating that the Board approves the establishment without ehallge by that Bank on May 13, 1943, of the rates of discount and pur— ehas.., its existing schedule. Approved unanimously. Memorandum dated May 17, 19432 from Mr. Paulger, Chief of the bivision of Examinations, recommending that, effective as of the date 41)1014 ,inlich he enters upon the performance of his duties after having passed actorily the usual physical examination, Charles E. Fischer be ap— P1411ted as an Assistant Federal Reserve Examiner on a temporary basis for indefinite period, with basic salary at the rate of 42,700 per annum, °fficial headquarters at Philadelphia, Pennsylvania. 742 5/20/43 -2By unanimous vote, Mr. Charles E. Fischer was appointed on a temporary basis for an indefinite period as an examiner to examine Federal Reserve Banks, member banks of the Federal Reserve System, and corporations operating under the provisions of Sections 25 and 25(a) of the Federal Reserve Act, for all purposes of the Federal Reserve Act and of all other acts Of Congress pertaining to examinations made by, for, or under the direction of the Board of Governors of the Federal Reserve System, and was designated as an Assistant Federal Reserve Examiner, with official headquarters at Philadelphia, Pennsylvania, and with basic salary at the rate of 32,700 per annum, all effective as of the date upon which he enters upon the performance of his duties after having passed satisfactorily the usual physical examination. Memorandum of this date from Mr. Morrill, submitting the res- iglistion of Mrs. Jessie A. Sexton as a telephone operator in the Seclbete'1718 or Office, and recommending that it be accepted as of the close business on rune 14, 1943. The resignation was accepted. Letter to Mr. Stewart, Vice President of the Federal Reserve 1141k ot St. Louis, reading as follows: apb„in " accordance with your request the Board of Governors thesi es the changes in the Personnel Classification Plan of 0 siti—uuisville Branch involving the establishment of the posubmitte 11 Of General Clerk in the Fiscal Agency Department, as d with your letter of May 17, 1943." Approved unanimously. Of Letter to M. Stewart, Secretary of the Federal Reserve Bank St* Louis, ella it reading as follows: eceipt is acknowledged of your letter of May 15, 1943, is noted that the board of directors of your Bank on 743 5/20/43 -3- "IdaY 13, 1943 amended the by-laws or the Memphis Branch by substituting for the first sentence of Section 9, Article III, the following: 'There shall be a regular meeting of the board on the last Friday of each month at such hour as the local board may fix or, if that day be a holiday, on the first succeeding full business day./ "Under the Board's letter of March 5 1940 (F.R.L.S.„ 2,, 3 /, the approval of the Board of Governors is not neces,Z17 in the case of auendments of this kind to branch by-laws. b is understood that you will furnish copies of the revised Y-laws of the nemphis Branch to the Board of Governors." Approved unanimously. Thereupon the meeting adjourned. Secretary. Chairman.
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