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1733 A meeting of the Board of Governors of the Federal Reserve SYstem was held in Washington on Thursday, November 23, 1944, at 10:30 a.m. PRESENT: Mr. Mr. Mr. Mr. Eccles, Chairman Szymczak McKee Draper Mr. Morrill, Secretary Mr. Carpenter, Assistant Secretary Mr. Clayton, Assistant to the Chairman The action stated with respect to each of the matters herein— atter r eferred Federal to was taken by the Board: The minutes of the meeting of the Board of Governors of the Reserve System held on November 22, 1944, were approved unani- 1401181y Memorandum dated November 18, 1944, from Mr. Goldenweiser, 41'ect°r of the Division of Research and Statistics, recommending that the f°11°17ing increases in basic annual salaries of employees 141 that D ivision be approved, effective December 1, 1944: Name Designation ,vane '4.e1 -4/1 Harrington Morelle Research Assistant Research Assistant Salary Increasg From To $2,200 2,000 2,400 2,300 Approved unanimously. Letter to "The Peoples State Bank of East Tawas, Michigan", 4at Tawas, MichiEan, stating that, subject to conditions of member— umbered 1 to 3 contained in the Board's Regulation H, the Board 1734. 11/23/44 -2approves the bank's application for membership in the Federal Reserve 'Istera and for the appropriate amount of stock in the Federal Reserve Bet* of Chicago. . Approved unanimously, for transmission through the Federal Reserve Bank of Chicago. Letters to the "Farmers & Merchants Savings Bank", Manchester, Iowa e Citizens Bank of Owensville", Owensville, Missouri, "The 4411'a State Bank", Marfa, Texas, reading as follows: al, "The Board is glad to learn that you have completed 114..L ed arrangements for the admission of your bank to the he eral Reserve System and takes pleasure in transmitting rewh a formal certificate of your membership. "It will be appreciated if you will acknowledge receipt of this certificate." Approved unanimously. reco eral Me morandum dated November 22, 1944, from Mr. Hooff,Attorney, ending that there be published in the December issue of the Fedrtesp, -.Ire Bulletin statements in the form attached to the memorandum tith res Pect to the following subjects: Dismissal of Suit against Board of Governors Consumer Credit Amendment to Regulation W Loans to Veterans for Home Purchase or Construction Foreign Funds Control Treasury Department Releases Approved unanimously. 1735 11/23/44 Thereupon the meeting adjourned. Chairman.
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