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Eugene Meyer, Jr., May Head Federal Reserve Board

If the legal difficulty that New York now has one member on the Federal Reserve Board can be overcome, Eugene Meyer, Jr. of Mt. Kisco, N. Y., prominent Jewish financier, will be named the next governor of the Federal Reserve Board to fill the vacancy created by the recent resignation of Roy A. Young. The law creating the Federal Reserve System forbids the appointment of more than one member from any of the Reserve districts to the Federal Reserve Board.

Until he resigned last year as head of the Federal Farm Loan Board, to which he was appointed by former President Coolidge, Mr. Meyer had been in the government service since the United States entered the World War. From a technical advisor on metals to the Advisory Commission of the Council of National Defense he passed to a directorship of the War Finance Corporation, after having been a technical advisor to the War Industries Board and a member of the National Committee on War Savings.

President Wilson named him director of the War Finance Corporation in 1919, a post he held until the corporation was liquidated. He resumed this position in 1920 when the corporation was revived. In 1925 President Coolidge reappointed him. Mr. Meyer was prominently mentioned for a position in President Hoover’s cabinet and was also under consideration as ambassador to Germany.

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