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1200 A meeting of the Board of Governors of the Federal Reserve SYsterawas held in Washington on Monday, September 15, 1941, at 4:00 PRESENT: Mr. Ransom, Vice Chairman Mr. Szymczak Mr. Draper Mr. Mr. Mr. Mr. aNr Morrill, Secretary Bethea, Assistant Secretary Carpenter, Assistant Secretary Clayton, Assistant to the Chairman The action stated with respect to each of the matters herein— referred to was taken by the Board: Memorandum dated September 10, 1941, from Mr. Wyatt, General 001111., 'el-, r ecommending that Miss Mary F. Tesh be appointed as a stenog— IltPher • ln the Office of General Counsel, with salary at the rate of 1,62o per th annum, effective as of the date upon which she enters upon '-' e Performance of her duties after having passed satisfactorily the 41181 Physical examination. Approved unanimously. iiiemorandum dated September 9, 1941, from Mr. Goldenweiser, rellItilending that Miss Florence E. Erickson be appointed on a tempo— ritrybasis for a period of not to exceed six months as a library as— 4Ista "in the Division of Research and Statistics, with salary at tiler $1,800 per annum, effective as of the date upon which upon the performance of her duties after having passed lithe 4te °f 1341'41'8 86ttlq*actorily the usual physical examination. Approved unanimously. 1201 9/15/41 Memorandum dated September 11, 1941, from Mr. Morrill, Secretary, r ecommending that the salaries of Philip D. Faber and J. J. '4‘.1 porters in the Building Operation and Maintenance Section of the 0 Qe cretary's Office, be increased from q,200 to 11,260 per annum 841(1fr°111 $1,080 to $1,200 per annum, respectively, effective as of September 16, 1941, Approved unanimously. tank Letter to Mr. Meyer, Assistant Cashier of the Federal Reserve of Chicago, reading as follows: „ "As requested in your letter of September 10, 1941, Board of Governors approves, effective September 1, i 4tY41, the payment of a salary at the rate of '2,640 per , r1114 to Mr. Christ M. Hansen, Auditing Clerk Junior, t."-csh amount is 120 in excess of the maximum salary for position as provided in the personnel classification P144 of your Bank" 2 Approved unanimously. Telegram to the ream _ Presidents of all of the Federal Reserve Banks -441g as follows: ilig4e4; V-62. The Board has received the following naent 1?,0es the term "automobile" in Group A ofpurchased Suppleserm:, "gulation Winclude automobile engines --telY for C, 813 D0e5 terminstallation in a used car chassis? "mechanical refrigerator", Item 1, Group chas4Piement, include motor unit replacement, if pur-;,seParately?* spec :L hese 4 tor 16:I to theJaquiries raise a general question with retreatment of replacement or repair parts Parte-Lsted articles. It is to be noted that certain are mentioned specifically in the list, as for 1202 9/15/43. —3)(ample, motors for power driven boats, heating units 46or furnaces, and certain items that are included in roll ' ) D-4 and Group E. The regulation however does not treatZ replacement or repair pelts as being included in the list merely by reason of the listing of the complete article, with the consequence that an automobile engine 1?urchased separately would not by inference be classified ..*s a listed article on the ground that automobiles are On the other hand, if the Registrant knows or trts -eaSOn to know that any purchase is part of a scheme r:,acquire a complete listed article by purchasing sepa.Pieces, the Registrant is required to treat the dit as if the piece purchased were a listed areextended .11 nT Approved unanimously. it)I1 Ot Telegma to Mr. Crause, Director of the Instalment Credit Divithe Federal Reserve Bank of St. Louis, reading as follows: mit "Section 9(h) of Regulation W was designed to perdating of contract so that instalments will fall on ee-enient dates, for example obligor's pay days. Conitia(luntly) if autobile mo is sold on October 20, contract 4-e dated November 1 so that first monthly instalment -L fall due Decenber 1." Approved unanimously. Let ter to Mr. Collas Harris, Executive Officer of the National ek. ives 3 reading as follows: in t This letter is in : response to the request contained sept"e letter addressed to Chairman Eccles under date o 81the, , e111ber 4/ 1941, by Mr. MacLeish, as Chairman of the etatittee of the Committee on the Conservation of repo!al R esources, in which a request was made for a q t;1 of the ' books and records, etc., in the offices 4gair:t13°ard of Governors which would require protection 0, Possible air raid damage. Qt theilfter discussing the matter with a representative Ot ma National Archives, in the light of the classes been set forth in Mr. ViacLeishys letter, it has the 1.: °ncluded that, with two minor exceptions, all of gorlor 4d :terin 1 the Board's offices would fall in cate1(aCtill at rl is books and records which the Board 1203 9/15/41 —4- ft must have constantly in its possession in Washington in °rder to perform its functions and which would be protected in the Board's building in which they are now housed. Therefore, no consideration has been given to the manner in which this material could be packed for eracuation and safe storage elsewhere. It is assumed that, should it ever become necessary to move books and records of this kind from Washington, a uniform procedure ld be worked out for all Government departments and aegencies• As soon as the details of any approved pro.edures are available with respect to the protection of ;ecords which are to be kept in the offices of the various _quepartments and agencies, we would appreciate it very mch if we could be advised. te "The reports attached to this letter cover the marellal in the Board's libraries, official files, personnel ti:Vs, minutes and indexes, mailing lists, records of ea;riecal Agent, and files held for a period in file : th in various offices of the Board's staff prior to ntat'r release to the central files, but do not include theell-al being actively worked on and temporarily out of ren13,71-es, or bulletins, annual reports, text books, printed 11141-1176e, or reference files maintained in the offices of persel's of the staff which are regarded more or less as nal working tools. While the files and cases covered by j ra*Ittached reports are not entirely full and, thereigures reported allow for some expansion, no poc' se,Pt haf been made to estimate or make allowance Zor jtle growth in volume during the next year or two. Cooperate further in this matter we shall be Plea fsertscolo Z Approved unanimously. Thereupon the meeting adjourned. °-4)6-9:Cretary. Vice hairman.
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