799 A meeting of the Board of Governors of the Federal Reserve S Ystemmu s held in Washington on Thursday, May 17, 1945, at 10:30 a•rn, PRESENT: Mr. Eccles, Chairman Mr. Ransom, Vice Chairman Mr. Szymczak Mr. McKee Mr. Draper Mr. Evans Mr. Morrill, Secretary Mr. Carpenter, Assistant Secretary Mr. Thurston, Assistant to the Chairman The action stated with respect to each of the matters herein— after referred to was taken by the Board: The minutes of the meeting of the Board of Governors of the Ped e --, Reserve System held on May 16, 1945, were approved unanimously. Letter to Mr. Walden, First Vice President of the Federal Re— re Ba of Richmond, reading as follows: p„.. "The Board of Governors approves the change in the 1.;??Ilnel classification plan of the Charlotte Branch, tZ;? - "ing the changing of the name of the R. F. C. Cus— ,-e quested „2" -Ilan Department to Government Agencies Department, as in your letter of May 15, 1945. 4 "The changes have been made accordingly on pages ilbe /'ed 19 through 23 in the Board's copy of the plan." the ti visi° n of Personnel Administration, recommending that the Board ve the following salaries as proposed by the Federal Reserve Bank Cl evel and for four officers of the Bank in the new positions shown Approved unanimously. Memorandum dated May 16, 1945, from Mr. Leonard, Director of Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Transcript
799
A meeting of the Board of Governors of the Federal Reserve
SYstemmu s held in Washington on Thursday, May 17, 1945, at 10:30
Mr. Morrill, SecretaryMr. Carpenter, Assistant SecretaryMr. Thurston, Assistant to the Chairman
The action stated with respect to each of the matters herein—after referred to was taken by the Board:
The minutes of the meeting of the Board of Governors of thePede--,
Reserve System held on May 16, 1945, were approved unanimously.
Letter to Mr. Walden, First Vice President of the Federal Re—re Ba
of Richmond, reading as follows:
p„.. "The Board of Governors approves the change in the1.;??Ilnel classification plan of the Charlotte Branch,tZ;?-"ing the changing of the name of the R. F. C. Cus—,-equested„2"-Ilan Department to Government Agencies Department, as
in your letter of May 15, 1945.4 "The changes have been made accordingly on pagesilbe/'ed 19 through 23 in the Board's copy of the plan."
the ti
visi°n of Personnel Administration, recommending that the Boardve the
following salaries as proposed by the Federal Reserve BankClevel
and for four officers of the Bank in the new positions shown
Approved unanimously.
Memorandum dated May 16, 1945, from Mr. Leonard, Director of
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5/17/45
below for the period
Roger R. Clouse
Wilbur T. Blair, Jr.Paul C. StetzelbergerJames B. Anderson
"Citizens Bank of New Haven", New Haven, Missouri,
"The Board is glad to learn that you have completedei3T1 arrangements for the admission of your bank to member-
in the Federal Reserve System and takes pleasure in'rTzIsmitting herewith a formal certificate of your member-ship.
. "It will be appreciated if you will acknowledge re-.pt of this certificate."
Approved unanimously.
Letter to Honorable Edwin W. Pauley, United States Representa-tive, Alli
ed Reparations Commission, prepared for the signature of
'Itd41 Eccles and reading as follows:
to :fit was very pleasant indeed for me to have a chanceevensit down and talk with you at the Shoreham the other
In the meantime, I received the President's let-yo,L°f May 5 as well as your own of May 10 in regard tosC aPpointment as Ambassador to represent the United'c'es on the Allied Reparations Commission.
the 1 accordance with President Truman's request for
mie arrangement of a close liaison with the ReparationsstsaV-°n, I have discussed the matter with some of ourez1,-Lf heads as well as with some members of the Board,
t4," advised that we have already been able to fur-
inc, Mr- Lubin and others with economic studies and otherwe'-ormation that may be of value in the work of your group.ter,117,(31-1(13 of course, be happy to supply such further ma-' as you might wish to have that is available to us
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5/17/45 —3 —
"either in studies now in preparation or additional onesWhich you or the members of your Commission might desire.
"Aside from material available to our Research Divi-aion here, I believe that the Federal Reserve Bank of NewYork and other Federal Reserve Banks might be able to beof service to you through their research and economic divi-sions, which are closely coordinated with ours.
"At the same time, we will arrange to advise you of111,Y actions contemplated by the Board which mould have aDearing upon your work and responsibilities.
"It occurs to me that some definite staff liaison ar-ranges might be effectuated between the Commission andthe Board, and if this seems feasible to you I would appre-ciate your communicating directly with me and arrangements!an be made to have anyone of your group whom you care to''esignate meet with appropriate members of our staff.
"Needless to add, I wish you every success in the ex-tremely_L difficult and important mission upon which you areeumarking. I hope you will feel free to call upon me atryf time for any service that I may be able to renderthrough the Reserve System."
Approved unanimously, together withthe following letter to the President ofthe United States:
the"This is to acknowledge your letter in regard toaPpointment of Mr. Edwin W. Pauley as the United States
.41131'esentative on the Allied Reparations Commission withe rank of Ambassador.1!In accordance with your request, I have alreadyco„Illmanicated with Mr. Pauley with a view to arranging%,,ne c
the lose liaison between the Federal Reserve System and
tw, Reparations Mission which you suggest, so that any+.Z,'e Drmation in our possession that may be of value in
i work of the Commission shall be available to Mr.ofill;eY and his associates, and so that he may be advisedlat-nY contemplated action of the System which may be re-
d in any way to his responsibilities."e
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Thereupon the meeting adjourned.
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