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Minutes of actions taken by the Board of Governors of the Federal Reserve System on Tuesday, September 8, 1953. PRESENT: Mr. Mr. Mr, Mr. Mr. Martin, Chairman Szymczak Evans Mills Robertson Mr. Sherman, Assistant Secretary Mr. Kenyon, Assistant Secretary Minutes of actions taken by the Board of Governors of the Federal Reserve System on August 31, 1953, were approved unanimously. Minutes of actions taken by the Board of Governors of the Federal Reserve System on September 1, 2, 30 and 4, 1953, were approved and the actions recorded therein were ratified unanimously.' Memoranda from appropriate individuals concerned recommending personnel actions as follows: Appointments, effective upon the date of assuming duties Name and title Division Type of appointment Bank Mary Malinchock, Operations Statistical Clerk Dorothy H. Senkowski, Administrative Services Assistant Manager, Cafeteria Administrative James R. Richey, Services Cafeteria Laborer Basic annual salary Temporary indefinite Temporary indefinite $20950 Temporary (2 months) 2,552 Approved unanimously. 3,10 156S -2- 9/8/53 Letter to the Federal Deposit Insurance Corporation, Washington, D. C., reading as follows: Pursuant to the provisions of section 4(b) of the Federal Deposit Insurance Act, the Board of Governors of the Federal Reserve System hereby certifies that The St. Ansgar Citizens State Bank, St. Ansgar, Iowa, became a member of the Federal Reserve System on September 1, 19530 and is now a member of the System. The Board of Governors of the Federal Reserve System further hereby certifies that, in connection with the admission of such bank to membership in the Federal Reserve System, consideration was given to the following factors enumerated in section 6 of the Federal Deposit Insurance Act: 1. The financial history and condition of the bank, 2. The adequacy of its capital structure, 3. Its future earnings prospects, L. The general character of its management, 5. The convenience and needs of the community to be served by the bank, and 6. Whether or not its corporate powers are consistent with the purposes of the Federal Deposit Insurance Act. Approved unanimously. A-ec4 Assistant Se retary
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