Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-09-04
MEYER IS EXPECTED
TO Be GOVERNOR
OF RESERVE BOARD
Resignation of PIatt Would
Pave Way for Him to Sue
coed Roy A. Young.

Eugene Meyer, jr., former commits
sioner of the Federal Farm Loan Board
and prominent in many other Govern
ment activities, win be appointed by
President Hoover as governor of the
Federal Reserve Board, it was learned
In authoritative administration circles
today.
Mr.. Meyers appointment awaits, how
ever, formal announcement of the reSig-
nation Of Edmund Plat, vice governor
of the board, who, it is understood, has
accepted position with large and
important firm with headquarters in
New York, the name Of which was not
disclosed.
Plat Acting Governor.
Plat has been acting governor Of the
board since the resignation Of Gov
Roy A. Young of Minneapolis. who left
to become the governor Of the Federal
Reserve Bank of Boston.
President Hoover has been unable to
name Mr.. Meyer in his place because
Mr.. Plat represents the board from the
New York district, from where Mr..
Meyer also comes, but Platt'S resignation
would clear the way for appointment OF
Meyer.
Mr.. Plat was not in Washington to-
day and was said to be on vacation IN
Connecticut and could not be reached
for further details of his new position
nor the date of his expected resignation.
Never, who is to head the Federal
Reserve Board, has served under both
Democratic and Republican Presidents
He was born in Los Angeles in 1875, at
tended school at the University of Cali
fornia and was graduated from Yale IN
1895. He was in business in New York
City when first appointed to Govern
ment post during the war. He served In
various capacities, including positions
with the Advisory Commission OF the
Council Of National Defense. He was
with the War Industries Board and the
National Committee on War Savings
President Woodrow Wilson made him
director of the War Finance Corpora
ton, which position was later changed
in name to that of managing director.
When that organization formally was
concluded, Mr.. Meyer became commits
sioner of the Federal Farm Loan Board,
this appointment being made May 10,
1927. He resigned this position last
year to return to his business interests
in New York.
Served In Congress.
Mr.. Plat, who is to retire from the
board, for years vas a teacher and
journalist. His residence is Poughkeep-
sic, N. Y, from which he was elected
to Congress, serving from the Sixty
third to the Sixty-sixth Congress. AS
member of the House he became
chairman of the Committee on Banking
and Currency, but left the House by
resignation to become a member of the
Federal Reserve Board. He was first
appointed to fill an unexpired term, be-
ginning his service early in 1920, and is
now serving a term of 10 years, to
which he was reappointed and which
would not expire until 1898.
The resignation of Mr.. Plat would
leave two vacancies on the board.
With Meyer assuming the chairman
ship the other appointee would have to
come from the Minneapolis district,
which had been represented by Young.
The Federal Reserve act stipulates
that no more than one member of the
Federal Reserve Board shall be from the
same Federal Reserve district.