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Minutes of actions taken by the Board of Governors of thePederal Reserve System on Friday, November 18, 1949. PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman pro tem. Szymczak Draper Evans Vardaman Mr. Mr. Mr. Mr. Carpenter, Secretary Sherman, Assistant Secretary Morrill, Special Adviser Thurston, Assistant to the Board Minutes of actions taken by the Board of Governors of the, 4,ederal Reserve Systemon November 17, 1949 were approved 111410 0.11101.1817. Telegrams to the Federal Reserve Banks of Boston, New York / Philadelphia, Atlanta, Chicago, St. Louis, Kansas City, 444, 'az Francisco stating that the Board approves the establishvithout change by the Federal Reserve Bank of San Francisco liov ember 15." by the Federal Reserve Banks of Atlanta and St. tokita °11 November 161 by the Federal Reserve Banks of New York, 841e1PlaiLEL, Chicago, and Kansas City on November 17, 1949, and e Pederal Reserve Bank of Boston today of the rates of dis°c5114t anA --- Purchase in their existing schedules. Approved unanimously. Memoranda from Mr. Young, Director of the Division of IteR e•reh and Statistics, recommending that the resignations of 44) rois 1°14ing employees in that Division be accepted, to be 18C8 11/18/49 -2- ettective, in accordance with their requests, at the close of b,'"e8S on the dates indicated: „ue of Merao Name , 1 9 Lee Smith Thomas 4/14/49 Eileen K. Jacobus Effective Date Title November 20, 1949 Economist Clerk-Typist November 18, 1949 Approved unanimously. Memorandum dated November 151 1949, from Mr. Young, Di111°1 'of the Division of Research and Statistics, recommending increases in, the basic annual salaries of the following employees illthat Division, effective November 27/ ,_Name i4'44'a, G. Saunders I. Jaffy in A. --fa T. Gillis, Jr. Divine : 1 111, l tilY J. Lichens 4,04.81,31411. B. liemminger L. Evans a Anne V. Johnson 12,r,e Truitt ' 44.11'' M. Donohoe L44 1949: Title Economist Economist Economist Library Assistant Research Assistant Secretary Clerk Clerk-Stenographer Clerk-Stenographer Clerk-Typist Salary Increase To From $4750 $4,725 4,725 Ii.,600 3,825 3,115 3,475 3,600 4,325 2,970 2,970 3,050 3,950 3,195 3,600 3,725 4,45o 3,050 3,00 3,130 Approved unanimously. 4r17 e 31 Letter to Mr. Sheehan, Chief Examiner of the Federal ReOf New York, reading as follows: In view of the recommendation in your letter "ovember 14, 1949, the Board approves an exten to December 31, 1949, of the time within the 'Liberty Bank of Buffalo', Buffalo, New may establish a branch in the village of 171'sk/ ll iamsville New York." Approved unanimously. 1809 11/18/49 _3_ Letter to Mr. Sheehan, Chief Examiner of the Federal Reserve Bank of New York, reading as follows: "In view of the recommendation contained in Your letter of November 14, 1949, the Board has extended to December 20, 1949, the time within Yhich the 'Bank of Allwood', Clifton, New Jersey/ IllaY complete the steps necessary to become a member of the Federal Reserve System." Approved unanimously. Letter to the Presidents of all Federal Reserve Banks teading as follows: "There have been forwarded to you today under aParate cover the indicated number of copies of he following forms, a copy of each of which is at tached, for use of State member banks and their ilrfiliates in submitting reports as of the next call date: roies Porm F. R. 105 (Call No. 114), Report of condition of State member banks. P0rM F. R. 105b (Revised August 1939), Loans and advances to affiliates and investments in and loans secured by obligations of affiliates. Form F. R. 105e (Revised May 1948), Publisher's cc:TY of report of condition of State member banks. P°rm F. R. 105e-1 (Revised May 1948), Publisher's copy of report of condition of State member banks. Polla F. R. 220 (Revised August 1946), Report of affiliate or holding company affiliate. F. R. 220a (Revised August 1946), Publisher's Copy of report of affiliate or holding company 1, affiliate. “31111 F. R. 220b (Revised August 1946), Instructions for the preparation of reports of affiliates and holding company affiliates. Z 810 ' 1/18/49 -4- "All of the forms are the same as those used on June 30, 1949 except for provision in Schedule A of form F. R. 105 for the reporting separately Of the amounts of single-payment loans to individuals of less than $3,000 and of $3,000 and over. This breakdown was reported on the special form F. R. 105A.2 on the June 30 call." Approved unanimously, with the understanding that the letter would be sent when the forms referred to therein were printed and ready for distribution. Memorandum dated November 17, 1949, from Mr. Young, Di'Of the Division of Research and Statistics, recommending that 4 vhe Board authorize an advance of funds to him in the amount d. 91 Onn 00 for use to assist in meeting the expenses of official tr. -0/el -in connection with his forthcoming approved trip to Santiago, Approved unanimous Secretary. a man pro fEE:
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