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Minutes of actions taken by the Board of Governors of the Federal Reserve System on Monday, October 190 1953. The Board met in the Board Room at 10:00 a.m. PRESENT: Mr. Martin, Chairman Mr. Szymczak Mr. Vardaman Mr. Mills Mr. Robertson Mr. Carpenter, Secretary Mr. Kenyon, Assistant Secretary Mr. Thurston, Assistant to the Board There was presented a request that Mr. Williams, Assistant Director, Division of Research and Statistics, be authorized to travel to New York, New York, on October 20 and 21, 1953, to attend a meeting of the System Committee on Current Business Developments. Approved unanimously. Reference was made to a memorandum addressed to Chairman Martin under date of October 114, 1953, by Mr. Young, Director, Division of Re- search and Statistics, in which Mr. Young stated that he had been invited by the National Bureau of Economic Research to serve on an exploratory committee on research in the capital and securities markets and that the responsibility would entail reviewing staff memoranda and attending possibly two meetings in New York City. The first meeting of the committee was scheduled for October 21, 1953. Approved unanimously. Chairman Martin stated that Mr. Johns, President of the Federal Reserve Bank of St. Louis, had asked to meet with the Board of Governors -2- 10/19/53 to discuss the selection of a site for the erection of a proposed new building for the use of the Louisville Branch and that 10:30 a.m. on October 21, 1953, had been set as the time for the discussion. The meeting then adjourned. During the day the following adexditional actions were taken by the Board with all of the members cept Governor Evans present: Minutes of actions taken by the Board of Governors of the sly. Federal Reserve System on October 14, 1953, were approved unanimou Minutes of actions taken by the Board of Governors of the were approved and Federal Reserve System on October 15 and 16, 1953, the actions recorded therein were ratified unanimously. rative Memorandum from Mr. Bethea, Director, Division of Administ g employee Services, recommending that the resignation of the followin in that Division be accepted: Effective date Name and title November 12, 1953 Jean W. Myers, Clerk Approved unanimously. , Memorandum dated October 14, 1953, from Mr. Bethea, Director Preston E. Fowler, Division of Administrative Services, stating that the Federal Laborer in that Division, has applied for retirement under on NoReserve Retirement System, effective at the close of business vember 30, 1953. Noted. _3_ 10/19/53 Letter to Mr. Hodgkinson, Federal Reserve Agent, Federal Reserve Bank of Boston, reading as follows: In accordance with the request contained in your letter of October 9, 1953, the Board of Governors approves the payment of salaries, effective October 14, 1953, to the following members of the Federal Reserve Agent's staff at the rates indicated: Annual Salary Title Name Alternate Assistant $7,800 John F. Mooney F. R. Agent Clifford E. Morrissey Alternate Assistant 5,200 F. R. Agent Alternate Assistant 4,300 George E. Wells F. R. Agent Approved unanimously. Letter to Mr. Wiltse, Vice President, Federal Reserve Bank of New York, reading as follows: In accordance with the request contained in your letter of October 8, 1953, the Board approves the appointment3of Dean W. Bassett and Benedict Rafanello as assistant examiners for the Federal Reserve Bank of New York. Please advise as to the dates upon which the appointments are made effective. Approved unanimously. Letter to Mr. Denmark, Vice President, Federal Reserve Bank of Atlanta, reading as follows: In accordance with the request contained in your letter of October 8, 1953, the Board approves the designation of H. V. Heyman and N. N. Self of the Birmingham Branch as special assistant examiners for the Federal Reserve Bank of Atlanta, for the specific purpose of rendering assistance in the examinations of State member banks only. Approved unanimously. lo/19/53 Letter to Mr. Johns, President, Federal Reserve Bank of St. Louis, reading as follows: The Board of Governors approves the payment of salary to Mr. Darryl R. Francis as an officer of the Federal Reserve Bank of St. Louis, with the title of Vice President, for the period November 1, 1953, through December 310 19530 at the rate of $15,000 per annum, which is the rate fixed by the Board of Directors as reported in your letter of October 90 1953. Approved unanimously.
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