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Minutes of actions taken by the Board of Governors of the Pederal Reserve System on Friday, November 21, 1952. PRESENT: Mr. Mr. Mr. Mr. Szymczak, Acting Chairman Vardaman Mills Robertson Mt. Carpenter, Secretary Mt. Sherman, Assistant Secretary Mr. Kenyon, AssIstant Secretary Minutes of actions taken by the Board of Governors of the Federal 7e System on November 20, 1952, were approved unanimously. " 1114 Telegrams to the Federal Reserve Banks of New York, Philadelphia, Atj St. Louis, Kansas City, and San Francisco stating that the Board Nniroves the establishment without change by the Federal Reserve Banks °r Ste Louis and Kansas City on November 17, by the Federal Reserve laellac Of San Francisco on November 18, by the Federal Reserve Bank of At4lIta on November 19, and by the Federal Reserve Banks of New York and PliliadelPhia on November 20, 1952, of the rates of discount and purchase their existing schedules. Approved unanimously. Memorandum dated November 13, 1952, from Mr. Marget, Director, of International Finance, recommending the appointment of titrb41, -4 Ann Chronister as Clerk-Stenographer in that Division, on a ten% l'arY indefinite basis, with basic salary at the rate of $3,110 per 44 14, effective as of the date on which she enters upon the perfcrmance 11/21/52 _2- (3:ther duties after having passed the usual physical examination and ect to the completion of a satisfactory employment investigation. Approved unanimously. Memorandum dated November 14, 1952, from Mr. Young, Director, 1317181°n of Research and Statistics, recommending that the temporary 4Pc)ilitment of Bessie M. McCrae, Clerk, Consumer Credit and Finances Sect i°11) be extended on a temporary indefinite basis, effective November 23 '1952. Approved unanimously. Memorandum dated November 10, 1952, from Mr. Young, Director, of Research and Statistics, recommending that Foteny Economon, Clerlt-Stenegrapher in the Division of International Finance, be transrell'ed to the position of Clerk-Stenographer in the Division of Research St $3,175 tistis, with an increase in her basic salary from $3,030 to Per annum, effective as of the date on which she enters upon th lerformance of her new duties. the The memorandum also stated that 4 4:71.8ion of International Finance was agreeable to this transfer. Approved unanimously. Memoranda recommending that the basic annual salaries of the r0110 4 41g employees be increased in the amounts indicated, effective 4°vel/lber 23, 1952: 1985 11/21/52 -3- Date of Memoramehlm 11/3/52 Name and Title Memorandum from Mr. Young, Director, Division of Research and Statistics Nancy B. Kelly, Clerk-Stenographer Salexy Increase From To $3,415 Memorandum from Mr. Marget, Director, Division of International Finance Thelma E. Ward, Assistant Supervisor, Information Center MallIal E. Gochencur, Clerk 4,160 4,295 3,030 3,175 Memorandum from Mr. Dembitz, Assistant Director, Division of International Finance Ann Marie Roberts, Clerk-Stenographer 31430 3)575 9,600 9,800 2,830 2,950 5,o6o 5,185 5,185 5,940 Memoranda from Mr. Sloan, Director, Division of Examinations 10/27/52 4/12/52 James C. Smith, Federal Reserve Examiner Shelly L. Suddith, Stenographer Memoranda from Mr. Leonard, Director, Division of Bank Operations 10/16/52 4/18/52 Lee W. Langham, Supervisor, Call Report Unit Mary M. Durkan, Technical Assistant 1,981; 11/21/52 -4- bate of Memorandum Name and Title Memoranda from Mr. Bethea, Director, Division of Administrative Services 10/20/52 Anna S. Courtney, Stenographer Lela M. Wilson, Cafeteria Helper Thelma M. Long, Elevator Operator W. Lucius Thalley, Messenger Mary J. Fowler, Charwoman Almeda Steiner, Charwoman James H. Newton, Messenger Edward L. Hargett, Messenger 10/20/52 Salary Increase To From _ $3,415 0,495 2,630 2,700 2,420 2,490 2,712 2,792 2,840 2,910 2,840 2,910 3,032 3,112 3,032 3,112 Approved unanimously. Memorandum dated November 13, 1952, from Mr. Bethea, Director, 84-0n of Administrative Services, recommending that the resignation "'Alta Cook, Clerk-Stenographer in that Division, be accepted, to be etrective, in accordance with her request, at the close of business 11Ntber 28, 1952. Approved unanimously. Letter to Mr. Latham, Vice President, Federal Reserve Bank of )8t°11, reading as follows: Of "Pursuant to the request contained in your letter November 5, 1952, the Board approves the designation 111'21/52 -5- John H. Lanigan as a Special Assistant Examiner for the Federal Reserve Bank of Boston for the specific purpose of rendering assistance in the examinations of Deposjtors Truot Company, Augusta, Maine, The Merrill Trust Coml-aay, Bangor, Maine, The Hartford- Connecticut Trust Company, Hartford, Connecticut, Industrial Trust Company, Providence, Rhode Island, and Rhode Island Hospital Trust Company, Providence, Rhode Island." °I- Approved unanimously. Letter to Mr. Latham, Vice President, Federal Reserve Bank of Bo 8tonA reading as follows: "In accordance with the recommendation contained in Your letter of November 7, 1952, the Board approves the apPointment of Stanley J. Erydziuskc as an Assistant Examiner for the Federal Reserve Bank of Boston. Please advise us the date upon which the appointment becomes effective." Approved unanimously. Letter to Mr. Armistead, Vice President, Federal Reserve Bank of reading as follows: "Pursuant to November 6, 1952, Franklin S. Clark examiners the the and for request contained in your letter of Board approves the designation of 0. Louis Martin, Jr. as special asthe Federal Reserve Bank of Richmond." Approved unanimously. Letter to Mr. Denmark, Vice President, Federal Reserve Bank of Atiartta/ reading as follows: "In accordance with the request contained in your letter of November 14, 1952, the Board approves the apPointment of Griffin Lewis King as an examiner for the ederal Reserve Bank of Atlanta. 14121/52 -6- "If the appointment is not made effective January 1, 1953, as planned, please advise us." Approved unanimously. Letter to Mr. Neely, Federal Reserve Agent, Federal Reserve Bank oirAtlanta, reading as follows: "In accordance with your letter of November 14, 1952, the Board of Governors approves the payment of salaries to the following named members of the Federal Reserve Bank of Atlanta and its Branches, at the rates indicated, effective November 1, 1952: Annual Salary Name Title !ead Office E. Moncrief Assistant Federal Reserve $5,100 Agent Genevieve M. Barnett Alternate Assistant Federal 5,500 Reserve Agent °. W. Bammond Alternate Assistant Federal 4,750 Reserve Agent !!irmIngham Branch ' 11101 Moreland, Jr. Federal Reserve Agent's 5,300 Representative George W. mason Alternate Federal Reserve 5,200 Agent's Representative Jacksonville Branch J. R. Moser, Jr. Federal Reserve Agent's 5,240 Representative W. Lester Hicks Reserve Federal Alternate 5,240 Agent's Representative Nashville Branch 0. E. Davis, Jr. Federal Reserve Agent's 5,300 Representative Anta Lou Cullom Reserve Alternate Federal 3,540 Agent's Representative New Orleans Branch Federal Reserve Agent's liellrY B. Hoppe 4,86o Representative D. J. Ducamus Alternate Federal Reserve 3,840 Agent's Representative Nicholas Band! Alternate Federal Reserve 4,380" Agent's Representative Approved unanimously. 11/21/52 -7- Letter to Mr. Meyer, Vice President, Federal Reserve Bank of Chicago, reading as follows: "In view of the circumstances described in your letter of October 31, 1952, the Board of Governors apProves the payment of salary to Mr. James T. O'Connell, Grade 9, at the rate of $5,616.00 per annum, effective June 1, 1952. It is noted that this salary exceeds the taaxtmum established for the grade in which this position is classified." Approved unanimously. Letter to Mr. Shepard, Federal Reserve Agent, Federal Reserve Bank 11111rteePelis, reading as follows: "In accordance with the request contained in Mr. Core's letter of October 30, 1952, the Board of Governors aPProves the payment of salary to Mr. Morris G. Anderson, A] :ternate Assistant Federal Reserve Agent, at the rate of $5,650.00 per annum, effective November 1, 1952." Approved unanimously. Letter to Mr. Wilbur, Federal Reserve Agent, Federal Reserve Bank Or o._ '.(1-a Francisco, reading as follows: "In accordance with Mr. Earhart's letter of November 13, 1952, the Board of Governors approves the payment of salaries to the following named members of the Federal Reserve Agent's "eft at the Federal Reserve Bank of San Francisco and its Branches, at the rates indicated, effective December 1, 1952: Annual Salary Title Name $5,640 Agent, Stone, P. M. Reserve Federal Assistant Office Head 6,720 Stetter, L. R. Federal Reserve Agent's Representative, Los Angeles Branch 6,240 Rieberg, E. V. Federal Reserve Agent's Representative, Portland Branch 6,600 Anderson, J. B. Federal Reserve Agent's Representative, Salt Lake City Branch 1.9 0 11/21/52 "Name GlImm, F. K. -8Title Agent's RepreReserve Federal sentativel Seattle Branch Annual Salary' $611/30" Approved unanimously. Letter to Mr. Morrill, Assistant Vice President, Federal Reserve 414k of San Francisco reading as follows: "In accordance with the request contained in your letter of November 13, 1952, the Board approves the apPointments of Stuart Stafford Lowe, Jr. and Jack Franklin Terrell as assistant examiners for the Federal Reserve of San Francisco." Approved unanimously. Telegram to Mr. Millard Seal Vice President, Federal Reserve Bank of Francisco, reading as follows: "Reurtel 20 Board extends to December 1, 1952, time vithin 'which Bank of Utah, Ogden, Utah, may accomplish me Mbership." Approved unanimously.
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