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1597 A meeting of the Board of Governors of the Federal Reserve System was held in Washington on Thursday, October 19, 1944, at 10:30 PRESENT: Mr. Mr. Mr. Mr. Mr. Ransom, Vice Chairman Szymczak McKee Draper Evans Mr. Morrill, Secretary Mr. Bethea, Assistant Secretary Mr. Clayton, Assistant to the Chairman The action stated with respect to each of the matters hereinafter ref erred to was taken by the Board: The minutes of the meeting of the Board of Governors of the ltderaa Reserve System held on October 18, 1944, were approved unani- 1.40118ly Memorandum dated October 16, 1944, from Mr. Morrill, recommendthat the following increases in basic annual salaries of employees the P -ecretaryl s Office be approved, effective November 1, 1944: Designation William Hyde 1?avid itdezi Sullivan Hauser ,Charles R. Nichols qif4rd.B. Myers Senior Guard Senior Guard Guard Guard Guard Salary Increase To From $1,740 1,740 1,620 1,620 1,620 $1,800 1,800 1,680 1,680 1,680 Approved unanimously. Memorandum, dated October 18, 1944, from Mr. Paulger, Director 1598 1O/19/44 —2— of the Division of Examinations, submitting the resignation of Ross 17. Morgan as an Assistant Federal Reserve Examiner in that Division, to become effective as of the close of business on October 31, 1944, and re commending that the resignation be accepted as of that date. The resignation was accepted as rec— ommended. Letter to Mr. Wayne, Vice President of the Federal Reserve Bank of Richmond, reading as follows: "In accordance with the request contained in your letter of October 16, 1944, the Board approves the desig— r:l_ation of the following as special assistant examiners for the Federal Reserve Bank of Richmond: E. P. Parham Melvin B. Nunnally Dewey Daane J. Hammond Siler Carl W. White Hugh C. Singleton" Approved unanimously. Letter to the board of directors of the "Farmers & Merchants Bank" Manchester, Iowa, stating that, subject to conditions IlleMbershiP numbered 1 to 6 contained in the Board's Regulation H, the Board approves the bank's application for membership in the Fed— "41 Reserve System and for the appropriate amount of stock in the ederal Reserve Bank of Chicago. Approved unanimously, for transmis— sion through the Federal Reserve Bank of Chicago. Thereupon the meeting adjourned.
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