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1342 A meeting of the Board of Governors of the Federal Reserve System was held in Washington on Vvednesday, October 1, 1941, at 11:30 a.m. PRESENT: Mr. Eccles, Chairman Mr. Szymczak Mr. Draper Mr. Mr. Yr. Mr. Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereinafter referred to was taken by the Board: Memorandum dated September 24, 1941, from Mr. Nelson, Assistant Secretary, recommending that the following increases in salaries of employees in the Secretary's Office be approved, effective as of October 1, 1941: Name Designation Edna B. Poeppel Supervisor, Files Section Alice E. Tyrrell Salary Increase From To $3,100 $3,200 File Clerk 1,840 1,920 Bernice O'Brien File Clerk 1,740 1,860 Vivian K. Haislip Junior File Clerk 1,560 1,620 Margery M. Davis Junior File Clerk 1,500 1,620 Marie M. Youngblood Junior File Clerk 1,440 1,500 Thelma E. Ward Junior File Clerk 1,440 1,500. Approved unanimously. Memorandum dated September 24, 1941, from Mr. Smead, Chief of the Division of Bank Operations, stating that John DeLaMater, supervisor 1243 10/1/41 -2- of service functions in that Division, will reach the retirement age of 65 on January 30, 1942, and recommending that he be retained in active service until the end of the calendar year of 1942. The memorandum also stated that Mr. DeLaMater fully understands the provisions of the Retirement System that the beneficiaries of a person who dies while in service receive his own contributions with interest plus one year's salary instead of the reserve built up to provide for the retirement of the employee. Approved unanimously, with the understanding that before January 30, 1942, a written statement would be obtained from Mr. DeLaMater and his beneficiaries to the effect that they have been fully informed and are aware of the difference between the payments that would be made by the Retirement System should he die while in active service and the payments which would be made should his death occur after retirement. Thereupon the meeting adjourned. fOcz Approved: ) Chairman. hno 3Lc, Secretary.
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