InvestmentBankers A ssociation ofa merica GOVERNC ORS )RS PRESIDENT GOVERNOI 3S DUDLEY F. BAKER DENVER JAY N.WHIPPLE DONALD 1.McLEOD TORONTO WILLIAM BAYNE BOSTON PAT G. MORRIS FREDERIC J.BLANCHETT SEATTLE VICE PRESIDENTS FREDERIC P.MULLINS PITTSBURGH JOHN E. BLUNT, 3^2 ARTHUR C.ALLYN MAYNARD H.MURCH CLEVELAND ERROL E. BUCKNER NEW ORLEANS JOHN CLIFFORD FOLGER WASHINGTON EDWARD HOPKlNSON, JR. PHILADELPHIA A. E. PONTING SAN FRANCISCO HAGOOD CLARKE ATLANTA WILLIAM J. PRICE.35 BALTIMORE JULIEN H.COLLINS EXECUTIVE SECRETARY a TREASURER JAMES F. OUIGG ST. LOUIS FAIRMAN R. DICK NEW YORK ALDEN H. LITTLE ROBERT G. ROWE PHILADELPHIA RUSH S.DICKSON CHARLOTTE WILLIAM O.SKILLMAN DALLAS F. D. FARRELL KANSAS CITY ARTHUR G.DAVIS DAVID DILLMAN PERCY M. STEWART NEW YORK JOHN S. FLEEK CLEVELAND R. MeLEAN STEWART NEW YORK LLOYD S. GILMOUR NEW YORK MUNICIPAL SECRETARY SECRETARY WINTHROP E.SULLIVAN ARNOLD GRUNIGEN,JR. SAN FRANCISCO DUDLEY C.SMITH ROBERT STEVENSON,3S JOSEPH T. WALKER. JR. BOSTON GEORGE E.JONES LOS ANGELES MARY R. LINCOLN ELMER L.WILLIAMS MINNEAPOLIS 1. A. LONG ST. LOUtS JOHN S.LOOMIS STANLEY G. Me KIE CINCINNATI OFFICE OF THE EDUCATIONAL DIRECTOR 3 3 SOUTH CLARK STREET ROBERT N.WILLIAMS HARRY B. WYETH, JR. November 3, 1942 SPOKANE LOS ANGELES Hon. Marriner S. E ccle s, Chairman, Board, o f Governors o f the Federal R eserve System, V/ashington, D. C. Dear Mr. E ccles - For the purpose o f a condensed v ersion o f the War Finance Conference we are publishing in the INVESTMENT BANKING now in p repara tion,a few o f the h ig h lig h ts o f your remarks have been l i f t e d from the r e p o r t e r 's t r a n s c r ip t. A copy o f the te x t quoting you is attach ed. I hope i t in no way d is t o r t s your meaning. N aturally, i f i t does or i f there are any changes you would lik e t o have made, w ill you simply note than on th is copy and airm ail i t back to u s. S in cerely you rs, DD H e n d Educational Director
November 5, 19A^«Mr. David Dillman, Educational Director, Investment Bankers Association of Am erica, 33 South Clark Street, Chicago, Illinois. Dear Mr. Dillman: This is to acknowledge your letter of November 3 enclosing a reporter's transcript of part of my informal talk before the Investment Bankers Association. I have corrected it in a general way for the purpose you have in mind. I would appreciate it if you could send me copies of it in case you make use of it, and if you also have a copy of the entire text as taken down by the reporter that you could spare, I would like to have that. Thanking you for your courtesy, I am Enclosure M. S. Eccles, Chairman. ET:b
DUDLEY F. BAKER WILLIAM BAYNE GOVERNORS FREDERIC J.BLANCHETT JOHN E. BLUNT, 3 Investment Bankers A ssociation of A merica DENVER BOSTON SEATTLE JAY N.WHIPPLE ARTHUR C.ALLYN PRESIDENT VICE PRESIDENTS OFFICE OF THE EDUCATIONAL DIRECTOR 3 3 SOUTH CLARK STREET DONALD 1.McLEOD PAT G. MORRIS GOVERNORS FREDERIC P.MULLINS MAYNARD H.MURCH November 19, 1942 TORONTO PITTSBURGH CLEVELAND ERROL E. BUCKNER HAGOOD CLARKE NEW ORLEANS ATLANTA JOHN CLIFFORD FOLGER WASHINGTON EDWARD HOPKINSON, JR. PHILADELPHIA A.E.PONTING WILLIAM J. PRICE.3as SAN FRANCISCO BALTIMORE JULIEN H.COLLINS EXECUTIVE SECRETARY & TREASURER JAMES F. OUIGG ST. LOUIS FAIRMAN R.DICK NEW YORK ALDEN H. LITTLE ROBERT G. ROWE PHILADELPHIA RUSH S.DICKSON CHARLOTTE WILLIAM O. SKILLMAN DALLAS F. D. FARRELL KANSAS CITY ARTHUR G.DAVIS DAVID DILLMAN PERCY M. STEWART NEW YORK JOHN S. FLEEK CLEVELAND R. McLEAN STEWART NEW YORK LLOYD S.GILMOUR NEW YORK MUNICIPAL SECRETARY SECRETARY WINTHROP E.SULLIVAN ARNOLD GRUNIGEN.JR. SAN FRANCISCO DUDLEY C.SMITH ROBERT STEVENSON,3S JOSEPH T.WALKER.JR. BOSTON GEORGE E.JONES LOS ANGELES MARY R. LINCOLN ELMER L.WILLIAMS MINNEAPOLIS 1. A.LONG ST. LOUIS JOHN S.LOOMIS STANLEY G.McKlE CINCINNATI ROBERT N.WILLIAMS HARRY B. WYETH, JR. SPOKANE LOS ANGELES Hon. Marriner S. E ccles, Chairman, Board o f Governors, Federal Reserve System, Washington, D.C. Dear Mr. Eccles - The original plan urns to get a magazine out immediately and thinking that you would be receiving a printed version so soon I did not bother to acknowledge receipt o f the revisions you made on the highlights we picked up from your talk. As i t works out, we are taking a l i t t l e time, with the thought that the nature o f the December-January drive w ill shape up soon enough so that we can have a story on it also. I did not want to le t more time elapse without thanking you for going over the copy and gettin g i t back to us so promptly. DiD H Educational Director
Investment Bankers A ssociation ofa merica GOVERNORS PRESIDENT GOVE DUDLEY F. BAKER DENVER JAY N.WHIPPLE DONALD 1.MCLEOD TORONTO WILLIAM BAYNE BOSTON PAT G. MORRIS FREDERIC J. BLANCH ETT SEATTLE VICE PRESIDENTS FREDERIC P. MULLINS PITTSBURGH JOHN E.BLUNT,3as ARTHUR C.ALLYN MAYNARD H.MURCH CLEVELAND ERROL E. BUCKNER NEW ORLEANS JOHN CLIFFORD FOLGER WASHINGTON EDW ARD H O P K ln S O N,J R.P H IL A D E L P H IA A.E.PONTING SAN FRANCISCO HAGOOD CLARKE ATLANTA WILLIAM J. PRICE.355 BALTIMORE JULIEN H.COLLINS EXECUTIVE SECRETARY & TREASURER JAMES F. OUIGG ST. LOUIS FAIRMAN R.DICK NEW YORK ALDEN H. LITTLE ROBERT G. ROWE PHILADELPHIA RUSH S.DICKSON CHARLOTTE WILLIAM O. SKILLMAN DALLAS F. D. FARRELL KANSAS CITY ARTHUR G.DAVIS DAVID DILLMAN PERCY M. STEWART NEW YORK JOHN S. FLEEK CLEVELAND R. MeLEAN STEWART NEW YORK LLOYD S. GILMOUR NEW YORK MUNICIPAL SECRETARY SECRETARY WINTHROP E.SULLIVAN ARNOLD GRUNIGEN, JR. SAN FRANCISCO DUDLEY C. SMITH ROBERT STEVENSON,3SB JOSEPH T.WALKER. JR. BOSTON GEORGE E.JONES LOS ANGELES MARY R. LINCOLN ELMER L.WILLIAMS MINNEAPOLIS 1.A.LONG ST. LOUtS ROBERT N.WILLIAMS SPOKANE JOHN S.LOOMIS HARRY 8. WYETH, JR. LOS ANGELES STANLEY G. Me KIE CINCINNATI O F F IC E O F T H E ED UCA TION AL D IRECTO R 3 3 S O U T H CL A RK S T R E E T December 12, 1942 Hon. Marriner S. E ccles, Chairman Board o f Governors Federal Reserve System Washington, D.C. Dear Mr. E ccles - I wrote you saying that we had held up the issue o f INVEST MENT BANKING that would contain the War Finance Conference story in order to get in a pieoe about the present drive and circu late i t to our members at a time when i t would have it s maximum value as a stimulant. In any event, a copy o f the magazine is attached and also a copy o f the notes o f your remarks as taken down by the o f f i c i a l reporter. Thank you very much fo r being so cooperative in a l l t h is. DD H en ds Educational D irector
December 15# 2.94^ Mr. David Dillman, Educational Director, Investment cankers Association of America, 33 South ' 'lark Street, Chicago, Illinois. Dear Mr. Dillman: This is to acknowledge your letter of December Ik enclosing the copies of Investment Banking containing my extemporaneous remarks at the War finance Conference. Thank you for sending them to me and for the stenographic copies. S in ce re ly you rs, M. S. E c c le s, Chairman. ET:b