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1453 lanutes of actions taken by the Board of Governors of the Federal Reserve System on Monday, October 20, 1947. PRESENT: Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Szymczak Draper Evans Clayton Mr. Mr. Mr. Mr. Carpenter, Secretary Sherman, Assistant Secretary Morrill, Special Adviser Thurston, Assistant to the Chairman Minutes of actions taken by the Board of Governors of the Federal Reserve System on October 17, 1947, were approved unaniraously. Memorandum dated October 17, 1947, from Mr. Thomas, Director of the Division of Research and Statistics, recommending that the resignation of Mrs. Mary Jane P. Roberts, an economist in that Division, be accepted to be effective, in accordance with her request, at the close of business October 17, 1947, with the understanding that a lump sum payment would be made for annual leave remaining to her credit as of that date. Approved unanimously. Letter to Mr. Wilbur, Federal Reserve Agent of the Federal Reserve Bank of San Francisco, reading as follows: "In accordance with the request contained in Mr. Earhart's letter of October 14, 1947, the Board of , Governors approves the payment of salaries to the ' following members of the Federal Reserve Agent's staff at the rates indicated, effective November 1, 1947: 1454 10/20/47 -2- "Name Title Annual Salary Head Office P. M. Stone E. H. Galvin Assistant Federal Reserve Agent Alternate Assistant Federal Reserve Agent $4,500 6,300 Los Angeles Branch J. R. Robinson Federal Reserve Agent's Representative 4,920 Salt Lake City Branch L. Larsen Federal Reserve Agent's Representative 4,200" Approved unanimously. Telegram to the Presidents of all Federal Reserve Banks reading as follows: "Referring to point number six of enclosure in my confidential letter of October 15, all Federal Reserve Banks are now advised to make necessary preparations for sending copies of Statement to all Registrants under Regulation W. We understand that job of addressing envelopes, for example, may take considerable time at some Reserve Banks. Statement itself Will be sent you as soon as possible before November 1." Approved unanimously. Secretary. Chairman.
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