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1955 A meeting of the Board of Governors of the Federal Reserve System was held in Washington on Wednesday, October 28, 1956, at 11:00 a. in. PRESENT: Mr. Mr. Mr. Mr. Mr. Mr. Eccles, Chairman Ransom, Vice Chairman Broderick Szymczak McKee Davis Mr. Mr. Mr. Mr. Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary 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: The minutes of the meeting of the Board of Governors of the Federal Reserve System held on October 27, 1956, were approved unanimously. Telegram to Mr. Young, President of the Federal Reserve Bank of Boston, stating that the Board approves the establishment without change by the bank today of the rates of discount and pur— chase in its existing schedule. Approved unanimously. Letter to Mrs. Rachel M. Cook, Washington, D. C., reading as follows: "In accordance with the request, contained in your letter of October 27, 1956, the Board of Governors of the Federal Reserve System hereby accepts with regret 1956 10/28/56 -2- "your resignation as a stenographer in the Office of the Secretary, to be effective as of the close of business on November 11, 1956." Approved unanimously-. Letter to Mr. Attebery, First Vice President of the Federal Reserve Bank of St. Louis, reading as follows: "Reference is made to your letter of October 21, 1956, requesting approval of the continuance for a period of six months from December 19, 1956, of the temporary assignment of Mr. Frank J. Pfyl, a clerk in the Credit-Discount Department at $2,160 per annum, to a position in the Collateral and Collection Department Reconstruction Finance Corporation, with a maximum salary of $2,100. "The Board approves the continuance of the assignment of Mr. Pfyl to the above-mentioned position, without reduction in salary, for a further period of six months ending June 19, 1957." Approved unanimously. Letter to Mr. Sproul, First Vice President of the Federal Reserve Bank of New York, reading as follows: "This refers to your letter of October 22 advising that you are asking the Federal Reserve Banks of Boston and Philadelphia to designate an appropriate officer to meet in New York on Thursday, October 29, to review topics for the forthcoming Transit Conference and prepare a suitable program for the Conference, and that you will be glad to take advantage of the Board's offer to have a representative of the Board to assist in this work. The Board has designated Mr. Smead to meet with representatives of your bank and of the Boston and Philadelphia banks for the purpose of formulating a program for the Conference, and Mr. Smead will meet with you in New York on Thursday, October 29." Approved unanimously. Thereupon the meeting adjourned.
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