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A f- tir Minutes Of actions taken by the Board of Governors of the l'ecleral Reserve System on Monday, September 11, 1950. PRESENT: Mr. McCabe, Chairman Mr. Szymczak Mr. Evans Mr. Norton Mr. Powell Mr. Carpenter, Secretary Mr. Sherman, Assistant Secretary Minutes of actions taken by the Board of Governors of the Ped. eral Rese rve System on September 8, 1950, were approved unanimously. or the 4toz) Memorandum dated September 6, 1950, from Mr. Leonard, Director Division of Bank Operations, recommending that Miss Marjorie a to tratsferreciellog:e phe Dr ivin sio tn he Division of Administrative Services, be of BaJak Operations as a clerk-stenoErapher, Iloith illerease .13.tetil)er. 17) 1950. salary from $3,130 to $3,195 per annum, effective The memorandum also stated that the Division of kittihistrative Se rvices was agreeable to this transfer. Approved unanimously. or MemorandUm dated September 8, 1950, from Mr. Bethea, Director ill the lvi81°11 of A dministrative Services, recommending an increase salarY of Miss Constance McCarthy, a clerk in that 1950. fr°111 $2,450 to $2,650 per annum, effective September 17, Approved unanimously. 1 C)(700 7 -2Memorandum dated September 11, 1950, from Gardner L. 1300the T , ) 41/ Assistant Director of the Division of Administrative Servg_ stues, re commending the reemployment of Mrs. Dessie A. Collison as pa. ge in that Division, effective when she returns to work, Vith 110 c ce in her previous basic salary of $2,280 per annum. Itielli°r$544111m stated that Mrs. Collison had been on maternity -.17e since juae 5, 1950. Approved unanimously. Telegram to the Presidents of all Federal Reserve Banks, eMi ng as follows: be 11.:!!°4rd is calling a Regulation W conference to 25 in Board's offices in Washington September otItTlci 1.6* This is in accordance with tentative plans offil e:!! it telegrams previously forwarded to the that --;:e in charge of Regulation W. It is planned 4'e agenda include: Differences between the present and 2. Previous Regulations. 3. lic)me modernization credits. 4, Enforcement program. Regi stration. 5, 6. 210erat1ng procedures. various questions raised by the 1,, Federal Reserve Banks. tve vish to '4a-L1 appreciate any suggestions your Bunk may DPoa c'ffer regarding the program for the conference. ;041 -ceiPt of the replies an agenda will be prepared t°rvard 1 Approved unanimously. Letter to the Presidents of all Federal Reserve Banks, 4'E Ets roilows: 9/11/50 -3ce 1)1„:In order that the Federal Reserve Banks may d with the printing of Registration Certificates Ing Iden tification Certificates for the Regulation W 1„°.'ve11vestigators, there are enclosed texts of each, which 'L been aPproved by the Board. 111::()ef,4he sake of uniformity, the Board would like Banks to have the Registration Certificate ordo pr, c)c111 ,,,ced on a sheet six inches by nine inches. In unat the new certificates may be readily identified • be —ving been issued under the new Regulation, it may 194esirable to use a different color from that used in be -1949. It is suggested that each certificate issued v.dated and numbered and that the letter of the alphabet trisleh. identifies the Federal Reserve District be used to the number (for example, Boston would 1• .-i)c its "It jR numbers with 'A'). - not necessary that the numbers be assigned theal? Particular order and where, for operating reasons, ank nUfliber "wishes to retain for old registrants the same bersigned under the previous registration (as might the : 10 ' -ase where addressograph plates were used before) that7ard has no objection. In such cases it is assumed separlml:V registrants would be assigned numbers in a hi t'el,lausg:s beginning at a higher level than the Previously used. cerrter 'I: seal of the issuing bank, shadow printed in the klad the% the certificate, would improve its appearance Bank lijoard would have no objection if any Reserve ”/„'"es to follow this procedure. Reguiat"ith respect to the Identification Certificate for 141ito 1'4 °11 W in vestigators, the Board in the interest of or the ;43' would like to have the same text used by all m 'leserve -anks. However, the seal of the issuing a8 dee% °r IllaY not be shadow printed on the certificate 8.Ppetai : e' 4, and the Board would have no objection to investiTg to the certificate the photograph of the lett t 6at°r. Also O ththe exact size of the certificate is e discretion of the issuing bank. "P hot fo„ °-offset negatives of the Registration State48 aplIr4..n1 be forwarded to you by air mail as soon • do 404-'ls obtained from the Bureau of the Budget. 41014 at this time when the approval will be ' 14 but shall keep you informed by telegraph." Approved unanimously.
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