39

A meeting of the Board of Governors of the Federal Reserve Sys-

tem Was held in Washington on Thursday, January 71 19431 at 11:00 a.m.

PRESENT: Mr. Eccles, ChairmanMr. Ransom, Vice ChairmanMr. SzymczakMr. McKeeMr. Draper

Mr. Morrill, SecretaryMr. Bethea, Assistant SecretaryUr. Carpenter, Assistant SecretaryMr. Clayton, 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 Fed-

eral Reserve System held on January 61 1943, were approved unanimously.

The minutes of the meeting of the Board of Governors of the Fed-

eral Reserve System with the executive committee of the Federal Advisory

Ceuncil held on January 6, 19431 were approved unanimously.

Memorandum dated January 5, 1943, from Mr. Snead, Chief of the

Division of Bank Operations and Acting Administrator for the har Loans

Coramittee, recommending (1) that Miss Dorothy Louise Werner be ap-

P°inted as a clerk-stenographer in the Division of Bank Operations and

Miss Margaret Catherine Griset as a clerk-stenographer in the office

Of the Administrator for the War Loans Committee, each with salary at

he rate of $1,620 per annum, effective as of the respective dates upon

which they enter upon the performance of their duties after having passed

satisfactorily the usual physical examination, and (2) that Miss Esther

Se verud be transferred from the office of the Administrator for the War

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

40

1/7/43

Loans Committee to the Division of Bank Operations as a stenographer,

with no change in her present salary at the rate of 4,1,800 per annum,

effective as of the date upon which liss Griset enters upon the per-

f°rmance of her duties in the office of the Administrator for the Vvar

Loans Committee.

Approved unanimously.

Letter to Mr. Day, President of the Federal Reserve Bank of San

Francisco, reading as follows:

As you were advised on December 22, action on the changesin the Personnel Classification Plan proposed in your letter ofDecember 3 had been deferred pending clarification by represent-atives of the War Labor Board as to some details of general pro-cedure. The proposed changes have been reviewed in the light ofthat discussion and the Board approves the changes as submittedwith your letter of December 3, with the following exceptions:

MaximumDepartment

Head OfficeSavings Bonds Dept.Engines Dept.

Los An eles BranchBuilding Dept.

Salt Lake City BranchFederal ReserveAgent's Dept.

Position Annual Salary Page,

Tabulating Clerk 2,7OO 151Elevator Operator 1,800 92

Elevator Operator 1,800 13

Federal ReserveAgent s Represent-ative

3,000 43

"Action on the proposed new positions of elevator operatorat the head Office ana Los Angeles Branch has been deferred be-

Of the question whether it is necessary or appropriate toestablish the same maximum salaries for elevator operators as forable -bodied guards. In this connection it is observed that atother Federal Reserve Banks the maximum salary for elevator op-erators is less than that for guards. It is noted that mentiondS made of the fact that guards act as relief operators and run

ti.lhe,elevators auring other than normal hours. However, that facta raly seems to justify the same maximum salaries for elevator op-

erators as for guards."in the absence of information with respect to special cir-

cumstances, the proposed maximum annual salary of $2,700 for

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

1/7/43 -3-"operators of I.B.M. tabulating machines with duties as de-sQlbed on page 151 seems quite high as compared with tne scalesPala in Washington and with the salaries for operators paid atsome other Federal Reserve Banks.

"It will be appreciated, therefore, if you will reviewthese three positions in the light of these comments and ad-vise us further.

"No action is necessary on the proposed change in the max-imum annual salary of the Federal Reserve Agent's Representativeat Salt Lake City since in your letter of December 17 a laterrevision of that page was submitted.

"At present the eersonnel Classification Plan provides twoPages, 105-c and 105-f for the position of Supervisor of Appli-cations in the Savings Bond Department. The changes submittedwith your letter of December 3 contemplate the cancelation of?resent page 105-f, but no reference is made to page 105-c. Itls assumed that page 105-c, likewise, should be canceled, butconfirmation of this will be appreciated.

"The changes in the numbers of the current pages in the3oard'5 copy of the Personnel Classification Plan will be madein accordance with the lists transmitted with your letter."

Approved unanimously.

Thereupon the meeting adjourned.

eor,,z)

Chairman.

)--)(--ecretary

41

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis