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1608 Minutes of actions taken by the Board of Governors of the Federal Reserve System on Thursday, September 29, 1949. PRESENT: Mr. Mr. Mr. Mr. Mr. McCabe, Chairman Eccles Szymczak Draper Vardaman Mr. Carpenter, Secretary Mr. Sherman, Assistant Secretary Mr. Thurston, Assistant to the Board, Minutes of actions taken by the Board of Governors of the Federal Reserve System on September 28, 1949, were approved unaniInously. Memorandum dated September 26, 1949, from Mr. Vest, General Counsel, recommending an increase in the basic salary of Jerome W. Shay, Assistant Counsel, from $7,432.20 to $7,671.60 per annum, effective October 21 1949. Approved unanimously. Memorandum dated September 28, 1949, from Mr. Thomas, Director of the Division of Research and Statistics, recommending the apPointment of Miss Nancy Schelling as an economist in that Division, 'ith basic salary at the rate of $4,479.60 per annum, effective as °f the date upon which she enters upon the performance of her duties after having passed the usual physical examination. Approved unanimously. Memorandum dated September 27, 1949, from Mr. Leonard, Director of the Division of Bank Operations, recommending that Lee W. 1609 9/29/49 -2- Le.ngham, a research assistant in the Division of Research and Statistics, be transferred to the Division of Bank Operations as 411 analyst, with basic salary at the rate of $3,727,20 per annum, effective October 16, 1949. The Division of Research and Statis- tics was agreeable to this transfer. Approved unanimously. Memorandum dated September 28, 1949, from Mr. Thomas, Director of the Division of Research and Statistics, recommending that the resignation of Miss Mary M. Ryan, a clerk in that Division, be accepted to be effective, in accordance with her request, at the Close of business September 30, 1949. Approved unanimously. Letter to Mr. Diercks, Vice President of the Federal Reserve Ilank of Chicago, reading as follows: "In accordance with the request contained in your letter of September 26, 1949, the Board approves the appointment of Hugh P. Hayes as an assistant examiner for the Federal Reserve Bank of Chicago. Please advise us of the date upon which the appointment is made effective." Approved unanimously. Chairman.
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