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1.851 Minutes of actions taken by the Board of Governors of the 4(leral Reserve System on Thursday, November 4, 1948. PRESENT: Mr. Szymczak, Chairman pro tem. Mr. Draper Mr. Evans Mr. Clayton Mr. Mr. Mr. Mr. Carpenter, Secretary Sherman, Assistant Secretary Morrill, Special Adviser Thurston, Assistant to the Board Mirilltes °f actions taken by the Board of Governors of the Federal Reserve System on November 2, 1948, were approved unanimously. Minutes of actions taken by the Board of Governors of the Federl Reserve System on November reco,, 3, 1948, were approved and the actions 'ued therein erein were ratified unanimously. Memorandum dated November 1, 1948, from Mr. Thurston, Assisto the Board, r ecommending the transfer of Miss Margaret 118 an to t: e administrative clerk in the Division crettee it hr ::::::::::: Section as his secretary, with an inhe per 3,852.6O to erreCtiVe November 28:8::::-fr:::::::: 1:ated t118't the the , tivision of Bank Operations had been consulted about 'rensfer and i nterposed no objections. 44k Or Approved unanimously. Letter - t° Mr.Fulton, Vice President of the Federal Reserve cievel 44d, reading as follows: 11/448 -2In let .te; accordance with the request contained in your of November 1, 1 948, the Board approves the atp, P°Intruent of Jack Eugene Bevan as an assistant examiner ' yr the Federal Reserve Bank of Cleveland. Please ad: of the date upon which the appointment becomes ective and also as to salary rate." us Approved unanimously. Tele gram to the Presidents of all Federal Reserve Banks read"follows; si 2.1:Satisfactory arrangements have been completed for corirt— registration under Regulation W of Martin-Parry Toledo, Ohio (successor to Rexair Corporaof This will eliminate necessity for isrraranti.e registration by Rexair dealer-salesmen. RegarrE , — has agreed to notify all its branches of this deei-gernent. Statements already received from Rexair re,,er-salesmen should not be included in tabulating cert 4.1 tr .aiti , -0n s tatements, and further registration calel4leates should not be issued to such dealerRegiserliten• Cleveland will furnish you with list of ratit's branches in your district." Approved unanimously. Letter to the trlg "Loll tileNti ll Presidents of all Federal Reserve Banks read- continuance of the practice of recent years, PIZ of-8 being sent to you under separate cover a sing uer /gc'rk bank sheets (form F. R. 456) for use in compiling -1101 dat °Aerating ratios for 1948 and in furnishing to the Board. °f ti.to 1; - e new work sheet provides for the computain"er2,'-d capital ratios, in addition to the usual ::::os o. f. Year-end ratios will be the Board, and perhaps Reserve by some of the Resz Pur providing data for current 110t, ta the capital i3f position of member banks. It Part hlled to publish the two year-end capita ratios (Nested q the usual operating ratio studies. It is refo;Zeiv_er, that they be computed for each member len a form F. R. 456 is prepared. 11448 116 "A number of other changes, of a technical character, aje been made in the work sheet; they are described in the hereto. All of the changes have been cleared “41 the P vPerating residents' Conference Committee on Member Bank Ratios. t4 "The procedure followed last year should be observed to !?nding the completed work sheets, or duplicates thereof, youreBanBkoa.rnd after compilation of the tabulations made at Approved unanimously, with the understanding that the letter would be sent after the forms referred to therein were printed and ready for distribution. Secretary. PProved z
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