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1396 A meeting of the Board of Govern ors of the Federal Reserve System was held in Washington on Friday, October 15, 1937, at 11:30 a. ir" PRESENT: Mr. Eccles, Chairman Mr. Szymczak Mr. Davis Mr. Morrill, Secretary Mr. Bethea, Assistant Secretary Mr. Clayton, Assistant to the Chairman Consideration was given to each of the matters hereinafter referred to and the action stated with respect thereto was taken by the Board: Telegrams to Mr. Kimball, Secretary of the Federal Reserve Bank of New York, Mr. Austin, Chairman of the Federal Reserve Bank of Philade lphia, Mr. Fletcher, Secretary pro tem of the Federal Reserve Bank of Cleveland, and Mr. Gilbert, First Vice President of the Federal Reserve Bank of Dallas, stating that the Board approves the establishment without change by the New York bank on October 14, 1937) and by the Philadelphia, Cleveland and Dallas banks today, of the rates of discount and purchase in their existing schedules. Approved unanimously. There was submitted a recommendati on from Messrs. Spurney and IC°13Pang that Mrs. Frances B. Tambini, who had been selected in accordance with the authority granted by the Board on July 12, 1937, and who had passed a satisfactory physical examination, be appointed as a 139'7 10/15/37 -2- charwoman in the Board 's new building, with salary at the rate of 500 per hour, effective as of October 14, 1937. Approved unanimously. Letter to Mr. Leach, President of the Federal Reserve Bank of Richmond, reading as follo ws: "This will acknowledge receipt of your letter of October 8, 1937, advis ing of the action of your directors in appointing Mr. C. L. Guthr ie, an employee of your bank, as Assistant Cashier, effective October 7. It is noted that, subject to the approval of the Board of Governors, Mr. Guthrie's salary has been fixed at the rate of 44,800 Per annum, which is an increase of .;,:600 over his present salary. "The Board approves payment of salar at the rate of y per annum to Mr. Guthrie for the period from October 7 to December 31, 1937. "It will be appreciated if you will forward to the Board a biographic al sketch of Mr. Guthrie, prepared on Form 243." Approved unanimously. Letter to Mr. Drinnen, First Vice President of the Federal Reserve Bank of PhiladelPhia, stating that the Board approves the change in the personnel classification plan of the bank, as requested in his letter of October 11, 1937, to provide for the discontinuance of the P"ition of "Secretary B" in the Secretaries Department. Approved unanimously. Memorandum dated October 13, 1937, from Mr. Vest, Assistant General Counsel, rec:m mending that there be published in the November issue of the Federal Reserve Bulletin a statement in the form attached 1398 10/15/37 -3to the memo randum with respect to the followin subject: g Loans to Executive Officers of Member Banks up to *2500. Approved unanimously. Thereupon the meeting adjourned. `e4ZCCU-Atef-Ine°1-42 ecretary. APProved: Chairman.
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