OBEAR, i,egare H, b.
See correspondence file LIBRARY uF COiiuKESS
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis OVERMAN, Lee S. Library
July 21, 1954
Bear Mr. Petton:
Thank you for your very helpful letter of July 19th* ¥e are much interested in the collection of Senator Overmen's papers in your library, end Miss A&&M&, Research Director, for the above Committee, •who is at present on a trip to Reserve Banks in the Middle Vest, will get in touch vita you upon her re- turn to the Mev Tork Reserve Bank at the end of this isonth.
I think it is very likely that she vill •wish to follow your suggestion about engaging a grad- uate student to make an inventory of the papers be&r- ing on Reserve System matters, as she has done at the University of Virginia in connection vith the Carter Glass papers. Before doing so, however, she asay wish either to visit your library personally or to consult Professor Calvin Hoover or Professor Don Huaphrey regarding her present research program.
Sincerely yours,
Research Assistant
Mr» James W« P&tton Director Southern Historical Collection The University of Morth Carolina Library Braver 870 Chapel Hill, Hortfa Caroline
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis OVERMAN, Lee S,
THE UNIVERSITY OF NORTH CAROLINA LIBRARY CHARLES E. RUSH, DIRECTOR CHAPEL HILL
SOUTHERN HISTORICAL COLLECTION July 19, 1954- JAMES W. PATTON. DIRECTOR
Miss Katherine HcKinstry Committee on the History of the Federal Reserve System 33 Liberty Street New York 45, New York Dear Miss McKinstry: This is in rep3y to your letter of July 13, addressed to the Librarian and referred to this division. We have here a portion of the correspondence of Senator Lee S. Overman, consisting of about 40,000 items and covering the years 1920-1930. The follow- ing is a description of this collection: "The bulk of the letters are from Overman's constituents, asking for information, relief, and assistance of every sort. The thousands of letters bearing on tobacco and cotton culture, the eradi- cation of the boll weevil, farm legislation, Negro suffrage, appointments to office, the bolt of Senator F. M. Simmons from the Democratic Party in 1928, and state and local politics constitute a valuable source for the economic and political history of North Carolina in the 1920fs. #The collection is also rich in correspondence bearing on national problems including prohibition, immigration restriction, the payment of World War pensions, adjusted compensation certificates, and war risk insurance, radio control, the proposed lease of Muscle Shoals to the Alabama Power Company, war debts, the Federal .RgfifiZ&SJSig&S* the Washington Arms Conference, the London Naval Treaty, andTNeaFEast Relief.#Among the correspond- ents are Bernard M. Baruch, T. W. Bickett, Locke Craig, Josephus Daniels, H. M, Daugherty, R. L, Doughton, C. R, Forbes, 0. Max Gardner, Carter Glass, Clyde R. Hoey, Herbert Hoover, Charles E, Hughes, W. G, McAdoo, Mrs, W, G. (Eleanor Wilson) McAdoo, Angus W, McLean, Harry S. New, Robert Owen, Lucy Patterson, F. M. Simmons, William S, Sims, James Sprunt, Charles M, Stedman, Mark Sullivan, Henry Wallace, Jr., and L. A, Williams." You will note that correspondence regarding the Federal Reserve Banks is included, but with our limited staff we shall be unable to search this large group of papers for particular letters. If you will make specific requests for inform- ation, giving dates of letters desired or events covered, we shall be glad to look a little further, although we cannot promise to do any very extensive searching. If you think it worthwhile and so desire, we can secure the services of a competent graduate student to search the entire collection and report to you on such items as relate to the Federal Reserve system. This would have to be done on a hourly basis, the charge for which usually runs somewhere between one and two dollars per hour. Still further we should be pleased to have you or some member of your staff come here at any time and examine the papers in person. Our collection is open 8:30 A.M. to 4:30 P.M. Mondays through Fridays, and from 8:30 to 12:30 noon on Saturdays. Very sincerely you
f James W. Patton JWP:A ^S
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis OVERMAN, Lee S. QPapers)
July 13, 1954 Mr. Charles E. Rush Director The University of Horth Carolina Chapel Hill, Hortfo Carolina Dear Mr Rash: At the suggestion of Kiss Katharine S Brand, Head of the Recent Manuscripts Section of the Library of Congress, I as sending you this note to inquire whether you may have available for our use a list or possibly some descriptive leaflet covering the contents of the late Senator Lee S. Overman*8 collection of papers which we understand are on deposit with your Library. We are anxious to know whether among these papers there may be correspondence and unpublished memoranda, addresses, etc. which would be relevant in connection with the research which is now going forward on the history of the Federal Reserve System Sincerely yours,
Research Assistant to Miss Mildred Adams
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PARRY, Carl E.
February 23, 1955
Dear Mr, Parry: It is very good to hear from you egain, and particularly in view of the cheerful news tliat you have found a subject vhich interests you and hare gone to work at it. Almost you sake me believe that leisure is a stimulant and that if one has enough of it, the effects are sure to be good. Some day I expect to try that out, rather fearfully, on my own account. Meanwhile, I am grateful to you for letting me know about this new study. Bit by bit the list of monographs does grov, ftfid it is highly impor- tant that I know who is interested in what. On the other hand, I will certainly keep this information to myself until you would like it to be more generally known. You have wy complete sympathy in your desire not to 'thunder in the preface.11 Once or twice in my life I have accepted retainers in expectation of work to be done, End in- evitably they acted as & weight upon the neck. In one instance, I went so far as to turn one back because it w&s interfering with the progress of the work I wanted to do. I cite this only to indicate that I do know the pssy- chological pressures which pl&y on en author in the early stages* The very best of luck to you, and vhen I come to Washington, I shall take edvantage of your invitation and ask to hear more about the study you have in hand. Cordially yours,
Mildred
Mr. Garl E» Parry 4000 Cathedral Avenue H. W. Washington 16, D. C«
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PARRY, Ctrl E.
Washington, D.C., February 21, Miss Mildred Adams, Federal Reserve Bank of New York, New York, N. Y. W dear Miss Adams, At long last, I have managed to get really started on a piece of work which interests and delights me, which I believe to be within my competence, and which may finally turn out to be of some use — "in the galaxy" — to you and to the HFRS project. It involves research as well as thinking and writing and for some time now I've been spending several hours on it every day, I*m calling it at present Speculation and the Federal Reserve. As now planned, this study differs materially in conception both from my Selective Instruments of National Credit Policy (mostly written in 19UU) and from my (unpublished) Short History of Regulations T and U (19h9)* From the foimer it differs in its starting point which is about 1835 (or perhaps 1790) instead of about 1913, in its approach which is broader and more historical, and in its field which does not include consumer credit* From the latter, on which I plan to draw (sometimes textually) to a considerable extent, the present study differs in being directed more to outsiders and less to the Board and its staff, in covering a longer period and being also more broadly historical, and in being far less concerned with administrative detail. Some of my important sources are right at hand, since I have sets (almost complete) of the Board's Annual Reports and the Federal Reserve Bulletin. Most of the others I shall need I can find, I think, in the Board's Library. You should know about this project of mine yourself, because it may make a little difference in some way to some of your own plans and arrangements* But — for the present and until I have much more actual manuscript — I am telling no one else about it, and I hope that you will not do so either. For one thing, I have a horror of "thundering in the preface." For another, I may be forced to change the plans. For still another, I'm sure I'll work better if I remain "uncommitted.11 ...If in your dealings with your committee or with others you should have need to refer to my participation in the HFRS project, please do so only in the most general terms* But if you should happen to be in Washington I should be glad to talk with you and to show you something of what I'm doing. RECEIVED Yours sincerely,
q CCarl ,v 3 i * Parry f
:. fl THE H/STOKY 4Q00 ^^^ Ave., N. FEDERAL «£S^V£ SYSTry Washington 16, D, C
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis JUQS 8, 1954
Deer Mr. Parry: Hiss AdldM a^ked M to send you this note to let you know that aba is planning to spend two deys in Washington, Monday &nd Tues- day, June 14-15 • She will telephone you on her arrival for i,n appointment to discuss further your proposed study on selective credit controls. Aa you knov, she can be retched either through Mr. Carpenter1s office tt the Reserve Board or at Brookings. Sincerely yours,
Research Assistant
Mr. Carl E. Ptrry /£QQ Cathedral Avenue, N.V. Washington 16, D. C.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PARRY, Carl E,
May 26, V&k Dear Mr. Parry: I found your memorandum of the 23rd awaiting me when I got back from Boston and I have read it with interest and gratitude* The suggestions you make were very valuable and its good to know that we can count on your keeping this in Hind and thinking about it for us* Tour suggestion that the writing of the history may finally fall to me is flattering but appalling* I would hate to think that we could not find someone far better equipped for this very important and demanding job which is after all the focal point of the whole enterprise* Thus far we are still receiving suggestions but I must confess that none of them meet with that instantaneous enthusiasm which I have been hopinp for. However that may be just one more proof that the project meets a real need* Please send us any other ideas when and as they occur to you* They are of the greatest help. sincerely yours
Mildred Adams
Mr. Carl Parry UO00 Cathedral Avenue, Washington 16, D. C#
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CEP
I. I!m enamored of "monumental^* as Warren afcjd Sproul have been enamored of "archives," —but for purposes of this project neither of these words suggests any content. ... And even as to form I can give no content to "archives."0 As for "monumental", I know myself of no history of an institution, the sort of thing I believe this project to gmrt.wwjpia fc« be contemplating, that could be properly so characterized. . • • In the FR and cognate literature, i&E one thing performance in which approaches munumental quality is Goldenweiser' s American A Monetary Policy (193>1), but in that the historical aspects are distinctly subordinated; still, that book is probabaly the the principal work that this one must irbeat." ... Monumental, in my opinion, but not of much value as models for this project, are (1) Sprague!s History of Crises tfader the National Banking System (1910), (2) Brown!s The International Gold Standard Reinterpreted (191*0), and (3) Copelandfs A Study of Moneyflows in the United States (19^2), to say nothing of Keynes!s General Theory (1936), ... And anyway a really monumental performance characteristically owes little or nothing to models.
H. The project obviously calls for a suitable architect £& or architect-promoteak-and builder, all the harder to find because a really gifted one can seldom be found who can work, as would be necessary here, with a group of other people (including some who may be persnickety!). Perhaps possible or potential candidates — all or most of them probably unavailable — might be, as listed W.A.Brown vin alphabetical order, Karl Bopp,^infield Riefler, Walter Stewart, (the only "outiand John Williams. ... Quite possibly, as has occurred to me and sider1), /probably to others, you may have (with whatever reluctance) to take /% on this role yourself. I'd argue, among other items, that (1) you're young enough to have the necessary drive, which is an indis- pensable and almost supreme consideration; (2) you have, you certain- ly have, a knack for drawing out the best contribution from each of the necessary ss^dosJdssdssxs. collaborators; (3) you kave a proven capa- city to write well; and (h) you are not, as many (especially some of the "insiders") are, so taken up with "the pride of authorshif" (that bothersome form of egotism) as to inhibit you from (l) appropri- ating from others — some of them (e.g., Riefler, Stewart) touched with genius — useful or even brilliant architectural suggestions, and (2) assimilating valuable editorial suggestions, some of which might possibly come from me, based on early drafts of manuscript. ... (But have you, aay as yet, so thorough an understanding of the subject matter as to give you the necessary feeling of self-confi- dence? That, howVer, could be remedied; perhaps I might be among those who would tielp you on this point.)
III. A few fairly obvious suggestions, but only of a collateral or aupporting order, occur to me as worth considering. ... (1) Include a large and pretty exhaustive bibliography — preferably annotated; (2) developfe, as has neirer been done, what might be called the Presidential aspect of the matter, which relates largely but not en- tirely to Presidential appointments to the Board of Governors (see Bach's Federal Reserve Policy Making (19&0, Appendix V); (3) devel- ope also, as has never been done very thoroughly or consistently, the Congressional aspect, i.e_., the/^hdencies or propensities
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis CEP Page 2 of the 8ongress, as exemplified not only by the legislation that •was enacted but also by proposed legislation that -was only con- sidered. (On this, Miss Sutherland may have some material already prepared, or partially prepared.) IV", Among important collaborators, be sure to include Woodlief Ihomas, Karl Bopp, Roland Robinson, and possibly Paul McGracken.
^f
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PARRY, Carl E,
February 9, 1954
Dear Mr. Farryi I hare arranged sy schedule to fit your return to Washington and expeet to be tiier© on the jaomiag of the sixteenth* I hope you will be able to save time for use, and X vill call you for a definite &pf>oint«ent ^ien I get to tovn, I hope the birthday vaa a good oae. Cordially
Mildred Adaae
Mr. Carl X« farry 4000 Cathedral Avemie, H. V. Washington 16, D, C.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PATTERSON, Gardner PRINCETON UNIVERSITY INTERNATIONAL FINANCE SECTION (Department of Economics and Social Institutions)
Princeton, New Jersey March 23,
hiss Mildred Adams, Research Director Committee on the History of the Federal Reserve System 33 Liberty Street Hew York hS> New York Dear Kiss Adams: It was a pleasure to talk with you last Wednes- day and I hope that if we can be of any help to you in the future you will not hesitate to get in touch with me. As I mentioned during our visit, the Interna- tional Finance Section here at Princeton has its own con- tinuing program of research and publication in the general field of international economic problems* It may well be that some of the specific topics your group finally de- cides warrant study would be attractive to us as a field of work* It is not, of course, possible for us to say more at this time. Our interest—as well as yours—will depend on the particular problems which your committee feels need study, on the quality of the documents available and the conditions on which they can be used, on the presence here of qualified research assistance, and, of course, on the availability of financial support. You are at the beginning of a big and interest- ing job. I wish you well. If, as your project takes more detailed shape, you think it might be possible for us to cooperate in some way or other with you on certain aspects of the work, I do hope you will let us know. Sincerely,
GPsmbf
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis March 15, 1954
Dear Dr. Pattersons This is to confirm the appointment for Hiss Adams with you on Wednesday morning, March 17* She is taking the 7s 50 A*M. train, arriYing in Princeton at 9s18* She will then come directly to your office at the Library, and has just written to Miss Turobull to arrange a meeting vith her directly after seeing you. Sincerely yours,
Research Assistant
Dr. Gardner Patterson Director International Finance Section Princeton University Firestone Library Princeton, New Jersey
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PRINCETON UNIVERSITY INTERNATIONAL FINANCE SECTION {Department of Economics and Social Institutions)
Princeton, New Jersey March 9, I9$h
Miss Mildred Adams, Research Director Committee on History of the Federal Reserve System 33 Liberty Street New York h$9 New York Dear Miss Adamss This is in reply to Miss McKinstryfs note of yesterday. I plan to be in Princeton all day on Wednesday, March 17, and could see you any time that was convenient to you* The first thing in the morn- ing would suit me fine and unless you suggest other- wise I will expect you at around nine o!clock. My office is in the tower of the Library and my tele- phone number is extension 802. I note that you would like to look over the Strong Collection in the Library. If you have not already done so I would suggest that you write Miss Laura Turnbull, kk Mercer Street, Princeton, and ask her to help you on this* I have talked with her about your interest and know that she would be pleased to be of help. I look forward to seeing you and hope that I can be of some assistance. I am also interested in knowing more about the research project you are undertaking. Sincerely,
Gardner Patterso: GP:mbf Director
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis March 3, 1954
Deer Mr. Pattersons As Mr. Benjamin Strong wrote you in January, Miss Mildred Adaas, Research Director for the above Canal-tee, would like to visit Princeton, not only to look over the Strong collection in the University Library, but also to talk with you and others on the faculty \?ho might have an Interest in the research project which she has recently undertaken with the aid of a grant from the Rockefeller Foundation, She is planning to arrive in Princeton on Wednesday morning, March 17th, and to spend a day there before going on to Philadelphia to visit the Reserve Bask there. She would »uch appreciate your letting her know within the next week or so when it would best suit you for her to coae in to see you* She expects to spend some tiae cataloging the Strong papers, and hopes to vork In appointments with some of your colleagues all within this one-day time-span. Sincerely yours,
Research Assistant
Professor Gardner Patterson Director International Finance Section Princeton University Firestone Library Princeton, New Jersey
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PATTERSON, Gardner PRINCETON UNIVERSITY International Finance Section INTERNATIONAL FINANCE SECTION PRINCETON UNIVERSITY {Department of Economics and Social Institutions)
Princeton, New Jersey January 20,
Mr. Benjamin Strong President United States Trust Company i& Wall Street New York, New York
Dear Mr. Strong:
It is good to hear that a thorough and compre- hensive study is being made of the early history of the Federal Reserve System. I would of course be very glad to talk with Miss Adams and am sure that there will be no difficulty in arranging a time that is convenient to both of us. You can be sure that she will have the full cooperation of the Section, although I expect we can be of but little help to her.
Sincerely,
GPjmbf Director
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis January 22,
Dear Mr, Strong: Just & not® to thank you most varoly for your letter of Introduction to Mr. Gardner Patterson at Princeton. X hope to go down to see him within a week or so, and aa most grateful to you for open- ing the fioor for me* Sincerely yours,
Mildred Adams
Mr. Benjamin Strong President united States Trust Company 45 Vail Street New York 15, New York
pp km
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis WtfiTRDM TAFE RECORDER
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Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Committee on the History of the Federal Reserve System
PATE Ap.
TO Miss Adams
FROM.
REMARKS The man in the picture is the son of the George W. Ferkins in who we are interested (both have same name.) The latter was a partner of J.P. Morgan from 1901 until his retirement in, 1910. There are (papers in existenc^ an they are now there is no need to hurry re a ctual preservation. But when we write re access we are supposed to state jus /what our interest is in them. V
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Committee on the History of the Federal Reserve System
• i
TO IKA^SU*
FROM , IJIA, ,,,
REMARKS
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.it* Mi
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Committee on the History of the Federal Reserve System
DATEOct-7/fff
TO Miss Adams
FROMM> Burnett
REMARKS It now looks as if George Wal- bridge Perkins was a false lead* I remember his was one of some 7 or 8 bankers' names I was given to run dowjh. I believe Mis s McKinstry supplied the i4 I have just called the latter and she now thinks she must have confused him with James Perkins, for whom we have a card* The biography in Who Was Who shows no connection with the Federal Reserve System, So it scarcely seems worthwhile to pursue the matter further Should he be dropped from our agenda?
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Committee on the History of the Federal Reserve System
TO_
FROM.
REMARKS o.(x, fit;
he,.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PAPERS OF GEORGE WALBRIBGE PERKINS, 1862 - 1920. Partner of J.P. Morgan & Co,m 1901 - 1910 (retired)• TO: Miss Adams Dec.17, 195k [: M. Burnett Progress Report,
A son of George Walbridge Perkins, with the same name, has been Executor of the Estate of George Walbridge Perkins, since 1920. He maintains an offiee at 3lj2 Madison Ave., New York. (MU 2- 0928) I talked to his secretary who told me that some of the father's papers are in existence and are here in New York. They have never been cata- loged but some are in process of being cataloged now* She suggested that a . letter be addressed to Mr. Perkins, who has been out of town for a week, and she will bring the matter to his attention on his return. She suggested also that we state just what our interest is in these papers. For your background information on the s on, George Walbridge Per- kins: He was a director of the City Bank Farmers Trust Co. until 191*9, when he resigned to become Assistant Secretary of State for European Affairs. He held the position until Sources: ?!r. Hevener, National City Bank, Public Relations Dept», Whofs Who in America 195k Who Was Viho in America 19^3- 1897 - 19I42.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis RECEIVED >? o 4 >Ki. COMMiTTEi Of! THE HISTORY Or THE FEDERAL RESERVE SYSTEM
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Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PETERSUN, J. Marvin
June 30, 1955
J. Marvin Peterson 374-0 -48th Avenue South Minneapolis, Minnesota
Dear Mrs. Peterson*
the active interest which your husband, Br» J* Marvin Peterson, took in the Federal Reserve System, the members of this Committee have asked me to bring to your attention the history project on which we are now engaged and to ask for it your cooperation.
The project wa» started in the belief thst the time had come for a cew look at the long course of Federal Reserve history* Too many of the men who had created the System were no longer available to tell historians what really happened on disputed points• Even their papers were dispersed and in certain instances destroyed. Before the losses mounted higher, it was felt that a real effort should be made to record memories and locate correspondence and other papers that might be of value to the historian.
About a year ago the staff assembled by this Coiaaittee, with the aid of a snail grant from the Rockefeller Foundation, began to interview people who had played an important part in the System1s foundation and development, and to locate and catalogue information and material which might be valuable to the historian.
The pilot project was so successful that in June the Rockefeller Foundation made us a five-year grant to further the Committee1s work, ¥e have been, since July 1954, working with the assurance that we had time in which to continue the program of collecting memories and papers from the men who have made the System what it is.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Our executive director, Miss Mildred Adams, may already have communicated with you on these matters• If not, may I say that we would like very much to know whether your husband left papers which are concerned with his Federal Reserve experience* Speeches and articles interest us, and particularly the things which have not been published - the working correspondence, the diaries, the journals, the memoranda which show what happened when, and why. We would like to know anything you care to tell us about the whereabouts of such papers, their bulk, their condition, and their arrangement; are they with you or have they been deposited in some library for the use of students? If you are ready to dispose of any you may have, we would be glad to assist in putting them in an appropriate repository. If you are not ready, we hope you will remember, in providing for their disposition, that such contemporary working papers are the very stuff of life for an historian. Your husband's are needed by the historians of the System helhelped to build,
I will hope to hear from you about this. Very sindre ly yours,
Donald B. Woodward Secretary
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TEXAS RECEIVED BANKERS ASSOCIATION MAY 26 1955
ORGANIZED 1885 ON THE HISTORY OFTH* FEDERAL RESERWtSmiH DALLAS, TEXAS
May 23, 1955
Miss Mildred Adams, Executive Director Committee on History, Federal Reserve System 33 Liberty Street New York 45, N. Y.
Dear Miss Adams:
No history of banking in the South- west worthy of the name has been written. Slight attempts in the form of master theses by college graduates have been produced. A few fragmentary brochures have been issued. A close reading of material in files of finan- cial publications, say back to 1910, might yield some reliable data.
It is a matter of considerable regret that we cannot help you in your quest for historical material, concerning banking in this territory.
S incerely,
S e c r e WAP:t
P. B.(JACK)GARRETT, PRESIDENT JOHN M.GRIFFITH,PAST PRESIDENT DALLAS TAYLOR JOE A.CLARKE,VICE PRESIDENT W. A.PHILPOTT, JR.,SECRETARY FOPT WORTH DALLAS J. AUTREY WALKER,TREASURER MILTON BOSWELL,MANAGER DEL RIO DALLAS ADMINISTRATIVE COUNCIL L.PAUL TULLOS, BEAUMONT R. S. GILLAM, MART H.W. MCGOLDRICK,KENEDY JOE AGEE,DALLAS WlLFORD L.TURNER.AUSTIN H.B.REES.BIG LAKE E.J.(JACK) WICKER, MIDLAND
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PHILPOTT, William A. Jr.
Msy 16, 1955
Dear Mr» Philpottt We are writing at the suggestion of Mr. Robert G. Saserson to ask whether you know of any good history of banking in the south- west. I made some inquiries at the Federal Re- serve 3&rik when I VES in Dallas recently, but thus far have had no luck* If you do know of such a history, we will be ^lad to have its name and authfrr. Taanks so much for your kind- ness in this* * Cordially /oura,
Mildred Adams
Mr. William A. Fnilpott, Jr. Secretary of the Texfes Bankers Association Dallas National Bank Building Delias, Texas
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PIERSON, G. W.
October 20, 1955
Dear Mr. Mslagren: I have your letter of October 18th saying that you are planning to be in lew lork Thursday* Hovaaber 17th* and perhaps Friday, November 16th, and asking whether It -would be possible for you to come to this office on those deys. We would b© very glad to see you at that time and discusa vith you the information you need* As I told Dr. Pierson In my letter of June 17t£x, we would, as a responsible research organisation, have to ask that before releasing material concerning other Feder&l Reserve Banks than the on© in Atlanta you get from those Banks the same kind of permis- sion to release this material to you that was given by Hr« Bryan. Once that permission is obtained, ve will be glad to have you come and take what you need from our ovn file cards* I know that the Committee will be gled to have its material made useful to you under these conditions. I sh&H be looking forward to seeing you the 17th or Very sincerely yours,
Mildred Adams
Mr* Harald B. 1321 Davenport College lale University Hew Haven, Connecticut
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PIERSOJi, (*• V
RECEIVED YALE UNIVERSITY DEPARTMENT OF HISTORY NEW HAVEN, CONNECTICUT
G. W. PIERSON DAVBNPORT COLLEGB COMMITTEE ON THE HISTORY OF THE FEDERM. RESERVE SYSTEM Oct. 18, 1955
Miss Mildred Adams, Executive Director Committee on the History of the Federal Reserve System 33 Liberty Street New York, 45, N. Y, Dear Miss Adams: Our research file on the educational background of the chief officers of the Federal Reserve System, and its component banks has just been brought to my attention since my return to classes in September. I have made tentative plans to be in New York City Thursday, Nov. 17, and perhaps Friday, Nov. 18, in pursuance of my research concerning the Community Chests and Councils of America. Since Prof. Fierson mentioned the idea of my investigating your files, and you replied favorably (re: your letters of June 17 and Aug. 19, 1955) , I wonder if it would be at all possible for me to come to your office on the above-mentioned dates. As you may remember, we are interested in securing the names and whatever available information you may have obtained concerning the directors of the twelve Federal Reserve Banks. Also, the information on senior officers at each of the F. R. Banks which we were able to procure through direct contact with the individual banks is incomplete in one or two cases. If your file could aid in the completion of this data, it would be of great value to us. Therefore, and with your approval of course, I shall confirm my tentative plans for Nov. 17 and 18 about a week before- hand, or notify you of any change of date due to unforeseen circumstances, so that you will not be further inconvenienced Many thanks for your efforts in aiding this project. Respectfully,
/ Harald B. Malmgren Research Assistant to G. W. Pierson
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis R EC EIVED
SEP 2 71955 YALE UNIVERSITY DEPARTMENT OF HISTORY COMMITTEE ON THE HISTORY NEW HAVEN, CONNECTICUT OF THE G. w. PIERSON FEDERAL RESERVE SYSTEM 1321 JSPbAVENPORT COLLEGE September 26, 1955 Miss Irma Bu-rstein, Secretary Committee on the History of the Federal Reserve System 33 Liberty Street New York 45, New York Dear Miss Burstein: Mr. Pierson is now away on a year's sabbatical abroad and in his absence I wish to acknowledge your letter of September 23 with its enclosure. This was exactly the information he was hoping to receive and on his behalf may I express to you his deep appreciation and thanks for all the help he has received? Very truly yours,
Digitized for FRASER Mrs. F. H. Boldt, secretary to Mr. Pierson http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PIERSON, G. V<
C
September 23, 1955
Dear Dr» Pierson: Enclosed is the information you requested on senior officers and directors of the Federal Reserve Bank of Atlanta, As we do not have • fuU list of vice presidents and cie/uty governors, I have put whatever data we have on this group on a separate sheet* Perhaps the Atlanta Bank will be able to complete this list for you. If you hevs any further questions on this, we will be glad to answer them* Sincerely,
Irsi£ Burstein Secretary
Dr. G. W. Pierson 1321 Dcvenport College lale University Mew Haven, Connecticut Snc.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis FEDERAL RESERVE BASK OF ATLANTA GOVERNORS. PRESIDENTS AHr DIRECTORS 191A - IS/31/54, , Roland Director, Class A, l/l/5l to present Director, Birmingham branch, l/l/47 - 12/31/49 ed«s Jackson High School; Ala* Polytechnic Inst,, Auburn, Ale., attended until Hey 1917, Allen, Jgm^g Pleasant Director, Class C, 7/27/33 - 12/31/36 •4*1 No information Black> Eugene R. Sr. Governor, I/13/2B • 5/19/33, and 8/16/34 - 12/19/3-4 Director, Class A, 1/1/25 - 12/3V27 On Federal Reserve Board, 5/19/33 - 3/15/34 ed»: Atlanta public schools; grecU of Univ. of Georgia and Atlanta Lav School Bowman^ William Director, Class A, I/I/52 to present Director, Birmingham branch, I/I/4B - 12/31/50 ed.i A.B., Hillsaps College, Jackson, Kiss,, 190^| LL.£., Univ. of Miss., 1905* Branch, Harlee Jr» Director, Class C, 1954 to present ed.i No information Brown. Edward Thomas Director, Class C, 11/16/U - 12/31/21 ed#» Davidson College, Davidson, S.C.j studied lav in office of Judge H. K» McKay In Atlanta; admitted to bar, 1878*
President, 3/22/5I to present With Federal Reserve System since 193$
ed.i A.B., Univ. of Illinois, 1924# A.K#, 1925| Ph.D., Oniv* of Chicago*
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Clay. Kyburn Qlover Director, Class A, 1934-1939 Member, Federal Advisory Council, 6th District, 1940-1941 ed.J Gr?.d, from high school* Conier^ Donald ..{Jamee. McDonald) Director, Class B, 1946 to present Director, Birmingham branch, 4/17/37 - 4/26/46 ed.s Public and private schools; U*»D«, Birmingham Southern College, Birmingham, Ala*
Cooky W« S, Dlr&ctor, Class A, i/l/35 - 12/31/49 id*I Mississippi State College Driver^. Leslie R« Director, Class A, l/i/50 to present Director, Msshville branch, 1/1/44 - 12/31/49 ed«$ A.B., Ohio Wesleyan Univ., 1912 Foote. Francis W« Director, Class A, H/16/14 - 12/31/19 Director, Hev Orleans branch, 1/6/20 - 12/31/24 ed.s aigh school, no diploma; practical school of banking at 13 y$&rs of age.
Director, Class ~&t 194$ to present #6*1 Public elementary school* George* Ernest ?> Director, Class B, 1/1/36 m 12/31/47 Director, Hew Orleans branch, l/l/35 - 12/31/37 ed.J Private and public schools at Versailles, Ky* and Meridian, Hiss*
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis -3-
Glenn. Tfoaaa K.
Director, Class A, I/I/4O - 1/31/45
§d#i No lnfoiwitloa
Hall. FlUaenld
Director, &**• B, 2/23/35 - 2/7/46
ed.J Waller University School, Nashville, Tenruj B*/u, Vanderbilt Univt| 19H, LL»BM 1913. Harris. Eufus C&rrollton
Director, Class C, 1938 to present Ch&ira&n o^ Board of Directors, 1A/5A to present ed«l Gred. Gordon Inst., Barnesvilie, Ga., 191 *5j A.B., Mercer Univ., 1?I7, LL.D.f 1931| !*#••! Xale Univ., 1923, Jurs, D., 192*1 LL.D., Univ. of Altbama, I94lj Wllllw Jovell College, 1943J Litt. D., Birmingham Southern Univ., 1950j D.C.L*, Univ. of Hawaii, 1952*
Hartford. William Hatton Director, Class B,, ll/16///UU - S/l/2// 7 D , 10/1/ Director, Ntjhville branch, 10/10/19 - 3/.1/27
ed.: Public schools of Tennessee,
Hjll.i Jceaea Brents Director, Class B, l/l/31 - 12/4/34 Director, Nashville branch, 1/9/31 - 12/U/3A Director, Louisville branch, FEDERAL RESERVE BANK OF ST* LOUIS, part of 1935# 1936 - 1941
ed.J Gred# George Peabody College for Teachers,
Hiliynr. Llevellyn ?% Director, Class A, ll/16/U - 12/31/18
ed»s Mercer University
Hopkins. Undeey
Director, Class C, l/i/22 - 12/31/27
ed.J Univ« of North Carolina
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis a Johns. William Sanders Acting governor, 5/19/33 - 8A6/34. In Federal Reserve System from 1919 to 1934 ed.t Mercer Univ. . William H. Director, Class C, 9/lO/U - 12/31/37 Chairman of Board of Directors, 5/27/37 - 12/31/37 ed*: Grade and high schools, I*ouisvilie, Ky. Kittles. Peter R. Director, Class A, l/l/l8 - 1/18/26 Snployed in bank, 11A6/U - 2/12/15
ed.i Screven County Schools! Orengeburg Collegiate Inst.j Mercer Univ#| admitted to bar but did not practice. Lea* Luke Director, Class B, 10/8/27 - ll/M/30 Director, Nashville branch, Oct. 1927 - ll/H/30
ed.* A,B.f Univ. of the South, 1899, A.M., 1900, I/\D., 19151 I^.B., Columbia Univ., 1903. McCord. Joseph A> Governor, 10/19/U - 1/10/19 Director, Class C, 3/l/l9 - 12/31/24 Chairman of Board of Directors, 3/1/19 - 12/31/24 ed.i Attended subscription schools at Conyers, Ga. and public schools* McCoy. Thomas Villlaa Director, Class A, 2/7/25 - 12/31/25 ed.t Ho information McCrarv. John Alva Director, Class B, U/16/U - 1952 ed.t Georgia School of Technology, Atlanta, Ga»
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis c McLarin. W«S« Jr» President, 4/13/41 - 2/28/51 With bank over 30 years ed*t ^igh school and business college* Martin* H« Warner
Director, Class Cf 3A/36 - 12/31/36 Chairman of Board of Directors, 3/1/36 - 12/31/36 With Federal Reserve System, 1933-1936 ed«t Grammar and high school, Atlanta; Emory College, Oxford, G&« Kelvin. E. C« Director, Class A, 1/1/26 - .12/31/34 ed*« Selma (Ala.) public schools* Poughkeepsie Business College Neely» Frank H« Director, Class C, 1/4/37 - 12/31/53 Chairman of Board of Directors, 1/1/33 * 12/31/53 ed«t Pulbic schools, Home, Ga.j Grad« Georgia School of Technology, M,E», 1904* Nevton, Oscar Director, Class A, l/l/20 - 12/31/24 Director, Class C, 1/1/25 - 1/15/35 Chairman of Board of Directors, 1/1/25 - 1/15/35 Governor, 1/16/35 - 2/14/36 President, 2/14/36 - 2/10/39 ed.i Kevton Inst, (Crystal Springs, Miss.)} Southerwestern Presbyterian Univ. (Clarkesville, Tenn#) Qttley» John &« Director, Class A, 1/1/19 - 12/31/24 Moaber, Federal Advisory Council, 6th District, 4/10/31 - 12/31/33 ed#s B.S*, Southwestern Presbyterian College, Ciarkesville, Tenn. (now located in Memphis)) Hon* Dr. of Commercial Science, Oglethorpe Univ.3 Doctor of Law, Southwestern Univ#
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Pgrker, Robert S. President, 2/18/39 - 3/28/U With tank, 1/1/23 - 3/28/41 ed.J Public schools of Atlanta; A.B., Snory College, 1905} J>.B., Qniv. of Georgia Law School, 1907* Phi Beta Kappa. Porter. J. F» Director, Class C, 6/15/37 - 12/31/48 Director, Nashville branch, 1/16/37 - 6/17/37 ed.i Grammar school in one room school* Relnnold. Ptul B» Director, Class C, 1/1/49 - 12/31/54 ed.f No information Stiunders, Paul Hill Director, Cless B, U/16/H - U/25/ll Director, Hew Orleans branch, 9/10/15 - 5/19/17, and 10A3/18 - 1/31/34 ed.i B*A», Univ. of Mississippi (first honours), Ph.D., 1934; Studied et Univ, of Chicago, Halle-Vittemberg Univ#l Genaany, Sjmon, Leon Charles Director, Class B, 1920-1936 Director, Mew Orleans branch, 1921-1936 ed.J Grsd«, Tulane Univ. high school, 1^92; student, Soule College, 1892. Stem* Edgar Bloom Director, Claas B, 1917-1918 Director, Hew Orleans branch, 1917-1918 ed»$ Prep« edn*, McDonough High School, New Orleansj student, Tulane Univ., 1902-1903$ B.A., Harvard, 1907, M.A., 1908« Phi Beta Keppa,
Strickl£.ndf Robert Director, Clcss A, 2/9/45 - 12/31/'45 Member, Federal Advisory Council^ 6th District, 1946 ed.« Emory Univ.| passed bar examination*
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Toole, Warron Hr.rrjg Director, Cla^a A, U/16/U - 10/11A7 Baployed by ban?c# 1917 - />/l/25
*d.i Prep, d#pt«j Mercer 3niv*, Maconf Ga.j EeatoRan Business College, Poughlceepsie, H*I*, 1S91# * Pollard Director, Cl&sa B, 3/10/53 to present Employed by bank, 5/1/39 - 6/V47 ed.J ^ory Univ.| LL»B., Ebory Univ. L^w School, 1935* V&re, G..Q, Director, Glass A, 3/11/26 - 12/31/35 ad#* No inform&tion Wellborn» Maximilian Bethiyie lUrector, Class G, U/16/U - 2/28/19 Qiaino&n of Board of Directory U/16/U - 2/28/19 Governor, 3/1/19 - 1/X/7S ©d*i No information
Director, Class A, 1/1/36 - 12/31/50 Worked at Ja
Adelson, Louis C. Deputy Governor, March 1919 - 1924 With Federal Reserve System, %/\l> - 3/31/25 $d«» Public school; home tutors Beavers. Paul L. T» Vice President, l/l/47 - 7/1/52 With bank, 7A/13 * 7/1/52 3ovgaan^ Virgil Kemp - Sice President, 6/1/44 to present With bank since 10/7/13 ei.i Gr&d. high school, Albion, Illinois, 1910; Gem City Business College, Quiney, 111,, 1912j A«I*B« graduate, Graduate School of Banking, Rutgers felt*, 1939 Campbell. J. L» Deputy Governor, 1921 - 11/15/26 With b&nk, 1917 - 11A5/26 edti Graduate Montgomery Bell Academy, 1904 Clark. Lewis Micajah First Vice President, 1946 to present Vice President, 19U-1946 With bank since 1913 sd»» Student, Clark Memorial College, 1916; LL»D,, Atlanta Lav School, 1928 Cqnnlffi H. F» Deputy Governor (and Vice President), 1/9/31 - 6/30/47 With bank, 7/8/13 - 6/30/47 ed.s High.school and business college, Montgomery, Ala.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis k* John Eugtgce Vice President, 6/47 to present Vith b?mkf 2/32 to present ed.J Gs. Normal College and Busins33 Inst., Douglas, Ga,, Diploma 1917} G&# Military College, Milledgeville, GE., Diploma 1919} A.B., Univ. of Ga., Athens, Ga., 1922} LL.B«, Atlanta Law School, Atlanta, Ge., 1927 Fort, Joel B. Vice President, 1/1/^7 - 1951 With bank, 10/16/19 to 1951 ed«: Wallace Preparatory School, Hashville, Tenn, Foster, Hugh Deputy Governor, 1/31/27 - 1/9/31 Wi th be.nk, l/?l/?.7 - 10/31/34 od,: Weatarn Presbyterian Univ., Glsrksville, Tenn*| Princeton Univ., Princeton, It J. Lanford. T. A. Vice President, 1947 - 1951 With bank froa 10/22/18 ed.« Oglethorpe, 1913 (brief period); A.I.B. Standard CerUficate, 1927| . School of Banking, Rutgers} Attended Atlanta i*aw School* , John L« Vice President, 3/1/52 to present With bank, 10/1/47 to present ed.i B.S., Ale. Polytechnic Inst., 1936} M.S., Univ. of Illinois, 1937j Univ. of Wisconsin (grad. study for Ph.D.), 1937-39
Moody. Robert £. Jrf Vice Pretiident, il/9/51 - * With bank since 8/25/25 ed.t &.C.S., Univ. of Ga. (Evening Coll.), Atlanta, 194l| Graduate, 1943, Grcct. School of Banking, Rutgers} presently (1955) attending Advanced Management Program, Grad. School of Business Administration, Harvard U«
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis c 'ariaft B^rl P» Vice PresUeot, i/l/47 - 12/31/53 Vitfc bank, 3/23/13 - 12/31/53 •4,1 9th Dist. A. & M. School, Cit-.rksviile, Gsu, ?,909-19ilj Grid, School of , Kutgere fatterson. Harold Telford ?ice President, 1/1/52 to present With bank sine** 6/1/4.7 ed,s B.S., Uaiv, of Ga., 1924, M^A., 1925J I«L*B., HtrvArd Law School, 1928 Piko, Jwaos Burbanj^c DepaiQr Governor, U/3/18 - 12/10./18 With bank, 19U - 12/10/18 ed»i Public schools, Hev Orlennq Baistv, Lloyd B. Vice Preaident, 6/1/52 to present With bank 6/6/4I - U/30A5, «^d 6/1/^8 to present ed,« 3,S,, Uiiiv. of IOVE (in coaimerce)\ Master of Business Administration and Fn»D«, Dhiv. of Texas* Certified public accountant, Ga,, 1929* Rp.uber« Earle LoRoy ?icft President, 6/l/'52 t-3 present Wi-th bank aince / ed*i Capitel Univ., Ohlo| Carnegie Inst* of Technology, Pittsburgh; Ph.B., UniY# of Chicago, 1924, M.A., 1925, Ph.D., 1930 . S, Paul Vice President, 6A/46 to present With banJc since 3/LO/19
ed.5 Grad, 1912, AsheviUe High School, A3heville, K. C#
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis c 1L. Bcruty Governor, I9U-X917 Vi th brakj 19U-X925 ed#J No lnfora?tlon
Deputy uovernort l/i/24, - 1930 With bfOk| 1/10/lS - 19?0
ed,s Demopolis Hi^h School, Deaopolis,
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PIERSOfl, G. V*
YALE UNIVERSITY
DEPARTMENT OF HISTORY NEW HAVEN, CONNECTICUT
W. PIERSON 1321iSJ| DAVENPORT COLLEGE August 30, 1955 Mids Mildred Adams, Executive Director Committee on the History of the Federal Reserve System 33 liberty Street New York 45, New York
Dear Miss Adams: This will acknowledge with thanks your letter to Mr, Pierson of August 19. I am forwarding to Mr* Pierson your letter and a copy of this letter for his consideration• With reference to the information desired in addition to the educational backgrounds of the "senior officers" we would also like to have their terms of service. We have already received the necessary data on the Federal He serve Bank of Philadelphia from Mr, Williams, but we would appreciate receiving the data on the Federal Reserve Bank of At- lanta at your convenience* Very truly yours,
Secretary to Mr. Pierson
REC EIVED
AUG 3 0 1955
COMMITTE; Of4 THE HISTORY OF THE f£O£f?At RESERVE SYST6W
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Ort, DR. I*. V,
August 19, 1955
Dear Dr. Piergons I have your letter of July 29th with its query as to whether va should get someone to send you names and educational data on the chief officers of the Federal Reserve ttank of Atlanta since its fons&tion, I know that ve hsve that data on the governors, presi- dents and ch&imen of the Federal Benerve Basks, and some of the deputy governors and flee pretideata* I em net rare how much further &MI the li»t our information ssey go. Our oun Inquiry has used the phrase •senior officers" who are th.© ones bearing the above titles* If these will be sufficient, ve will try to send you data on the Atlanta group by the 1st of October, Xt you get word, from Kr. Williams releasing sistiler data, we will be glad to Bend that also. I take it that in both these instances you want merely the names and ^ihetever additional data we have secured that will mostly be in terse of secondary schools, colleges end advanced degrees «hen they exist* If you ne&d anything else, pleete let us know» As to opening our files to a student aide, that would depend on the caliber of the student, and we would take your re- oonsiendAtion on t&at point. We would, of course, have to ask that he work here* Very sincerely yours,
Mildred Adaass Dr. G. ¥. Pierson 1321 Davenport College Tale University Hew Haven, Connecticut
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YALE UNIVERSITY DEPARTMENT OF HISTORY NEW HAVEN, CONNECTICUT W. PIERSON 1321 33?£DAVENPORT COLLEGE Ju3y 29, 1955 Miss Mildred Adams, Executive Director RECEIVED Committee on the History of the Federal Reserve System r*^»v***-»lv & fa# 33 Liberty Street New York 45, New York ,„- -
Of 1BE Dear Miss Adams: mmm msBK*.masim Your good letter was received and much appreciated. I have delayed answering in part in order to see how much would come in by mail.
I now have reasonably complete data on the chief officers from six of the Federal Reserve Banks, partial information from two more, no reply as yet from the Bank of Philadelphia, promises of data from Dallas and Kansas City, plus Mr. Bryan's letter from Atlanta. The investigation is a little complicated and a little prejudiced at the moment by the fact that I am going abroad and will have to leave the pursuit of further data temporarily in the hands of my assistants. Under the circumstances would it be at all feasible for someone in your office to send me by the beginning of the college term, say October 1, the names and educational data on the chief officers of the Federal Reserve Bank of Atlanta since its formation? If I were sure that Mr. Williams of the Federal Reserve Bank of Philadelphia would not mind I would ask also for the data on his bank. I have written again to him to inquire.
If we could get information on these two banks and if the promised data come in from Dallas and Kansas City we will be able to make up an analysis of the chief officers of the twelve banks. If would be nice to be able to analyze the directors as well. In my absence during the fall term I am askinf»#1my research assistant, Mr. Harald Malmgren, to visit the Community Chests sihd Councils of America offices in New York to get from their card files educational data on the officers and leaders of the Community Chests in our larger cities. I am not sure you would wish to open your files to a student aide, however responsible he might be. I mention the matter simply for your consideration. If you felt authorized to give such a p4flftiission he might be able to come to your offices. But it could not be1 for a considerable period of time in any case.
Thanking you for your consideration, I remain,
Very sincerely yours,
gwp:eb
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PIERSOw, G. W.
June 17, 1955 Bear Br* Piersons Your letter of June 10th was vaiting for me vhen I got beck this morning from the middle vest. Also I have a letter from Mr, Bry**n, and e copy of & letter from Mr. Sproul to you, so your problem has come in from several sides* Mr* Bryan is probably right in suggesting that it might be easier to get this information from us than from the individual banks* We have, for the past year, been engaged in gathering as much data as possible concerning not only officers but elso directors of the tvelve Federal Reserve Banks* It is not complete, but it does include ell that the banks could furnish us from their records, as veil as whet ve could find in the usual booka of reference* As a responsible research organization we would, of course, ask that you get from the banks the same kind of p*Aftl#*lQ& to release this material to you that we got from Mr, Bryan, Aside from that, the only difficulty is thet of compilation for your needs* We have a small office and little spere stenographic help. On the other hand, once the necessary permission for release of aeterial is obtained froa the Banks, the Committee -would be glad to have you come and take what you need directly from our file cards* The data is typed on cards 5* x 8* which are easily handled* New Xork is not cool in the summer, but these offices are air- conditioned and we -would be glad to make ft desk available in our research room, either to you or to your assistant* Would you let me know how this pl&n sounds to you? We ere very glad to be useful in this* ¥ery sincerely yours.
{• /"• Mildred Adams Dr. G* W* Pierson /1321 Davenport College , lale University Rev Haven, Caaaecticut
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis YALE UNIVERSITY DEPARTMENT OF HISTORY NEW HAVEN, CONNECTICUT
W. PIERSON 1321 35*7 DAVENPORT COLLEGE June 10, 1955 Miss Mildred Adams, Executive Director of the Committee on the History of the Federal Reserve System 33 Liberty Street New York U5, N. Y. Dear Miss Adams: I have word from Mr. Malcolm H. Bryan, President of the Federal Reserve Bank of Atlanta, that a card file of information on the Federal Reserve Bank of Atlanta is now in your hands, I believe he sent a copy of his letter to me to your address. As you will gather from this I am engaged in looking up the educational back- ground of the chief officers of the Federal Reserve Banks, now and in the past, and I have written to all the Presidents of the Fed- eral Reserve Banks asking for information. I enclose a copy of my letter to indicate what I have in mind. Is Mr. Bryan correct in suggesting that it may be easier to secure all this information at your office than from the individual banks? If so would you be kind enough to tell me how much of a task this would be and what would be involved? If not, would you be willing to let me have the desired informa- tion at least from the file cards of the Atlanta bank, and from any others easily available? I realize that this is an imposition but hope that you will feel the inquiry worth supporting. Yours very sincerely, GWP:EB End. 0
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PIERSOU, G. W.
FEDERAL RESERVE BANK RECEIVED OFFICE OF OF ATLANTA PRESIDENT June 7, 195$ jtm
Dear Miss Adams s
I suppose you are familiar with all this. If not, I am sure that Mr. viproul has had the same letters that I have had and that they could be made available to you from his files. What Mr. Pierson wants is a record of our officers from the beginning, together with colleges attended, bachelors degrees, advanced degrees, and honorary degrees. On May 17, Mr. Martin wrote the Federal Reserve Banks im- plying that he had no objection to the information being furnished but saying to Mr. Pierson that it should be ob- tained from the Federal Reserve Banks. We have no objection to Mr. Piersonfs having the information. We do hate, however, to go through the struggle of assembling it, and Ed Vallette, of our Personnel Department, tells me that it was on the cards that were sent to your office.
Sincere
Miss Mildred Adams, Executive Director Committee on the History of the Federal Reserve System 33 Liberty Street New York l£, New York
Enclosure
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis FEDERAL RESERVE BANK OF ATLANTA ^ C fr t
June 7, 1955
Dear Mr* Pierson:
This is in pursuance of iqy letter yesterday regarding the educational backgrounds of our officers# I am informed that recently we assembled a good deal of information regarding our officers, includ- ing, where discoverable, the educational background. The task was a substantial undertaking because the in- formation, especially for our earlier years, had to be assembled from a variety of sources. It was done, how- ever, because of a project involving the history of the Federal Reserve System. At any rate, the cards on which we assembled the information were not duplicated here but were forwarded to New York, at which point the information will eventually be transcribed and the original cards returned to us. My suggestion at the moment, therefore, would be that you write or otherwise get in touch with Miss Mildred Adams* She is Executive Director of the Committee cm the History of the Federal Reserve System, 33 Liberty Street, New York U5, New York. It might be that you could arrange through Miss Adams to take off of our cards the information that you are seeking, and I would suppose that the same in* formation would be available in Miss Adams1 office for each of the Federal Reserve Banks. Me would have no Y objection, of course. Sincerely,
Malcolm Mr. G* W« Pierson Department of History Yale University Nejr Haven, Connecticut /Copy to* Miss Mildred Adams, Executive Director Committee on the History of the Federal Reserve System Digitized for FRASER http://fraser.stlouisfed.org/ 33 Liberty Street, New York h$, New York Federal Reserve Bank of St. Louis MISC. l36.3-a0H-10-54
FEDERAL RESERVE BANK OF NEW YORK
" " ROUTE SLIP 6/10 DATE Miss Adams TO (Histoxy of the System)
OF-
FROM- Secrcicry REMARKS
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PIERSOU, G» V. COPI
YALE UNIVERSITY DEPARTMENT OF HISTORY NEW HAVEN, CONNECTICUT
G. W. PIERSON 1321 DAVENPORT COLLEGE
June 1, 1955
Mr. Allan Sproul, President Federal Reserve Bank of New ¥ork New York, New York
Dear Mr. Sproul:
This is to ask your good offices in helping secure some informa- tion that I believe may be of some general interest.
In connection with my volumes on the history of modern Yale I have been making a study of the vocational distribution and the professional record of graduates of Yale and of other universities. One area for study has been in the field of business and industrial leadership. For example, we have just worked out a comparative analysis of the officers and directors of the 101 largest corporations, with striking results.
Having now begun to study the contribution of the leading universities in the field of banking, I would very much like to be able to analyze the managements, past and present, of the Federal Reserve Banks.
Mr. William McC. Martin, Jr., of the Board of Governors of the Federal Reserve System in Washington, has supplied me with a list of the past and present members of the Board of Governors, giving me their terms of service and their educational backgrounds, including colleges attended, bachelors degrees* advanced degrees* and honorary degrees* I understand from Mr. Martin that he has sent you a copy of his letter to me of May 17.
Could you help me complete this investigation by supplying me with the names, terms, and educational backgrounds of the chief officers of your Reserve bank from the start? Not knowing the condition and availability of your records, it is a little difficult for me to judge how much of a favor I am asking. But I hope that the over-all interest of this inquiry will warrant you in lending me such assistance as is in your power. I will be most grateful for your consideration and guidance.
Very sincerely yours,
/s/ G. W. Pierson
GWP:EB
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PINCHOT, Gifford
November 1, 1955
Dear Ruth: so much for your £ood aid in the Butter of Gifford Pinchot's papers* I will cer- t&ialy look them up ^\m I go to Also I as. delighted to a#*ve Helens Hooker's notes sad to Itnov that abe hats the tjelp of K&tharlse Brand in her >-cric on your huabejld's papers. I do hope that we may meet either here or in tfashingtaa* and I >;ill ixake e point of teeing to it#
/ours#
Mildred
Mrs* ARO3 Pinchot 1165 Pf-rfc Avenue Hev lork 23, H, X.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis RECEIVED 1165 PARK AVENUE , NEW YORK October TES CM THE HISTORY OF VHE Dear midretoERAL RESERVE SYSTEM Inclosed notes are written by Helene Hooker who has been working in Amos1 papers In the Library of Congress and hence knows her onions better than I do on your inquiry about Gifford's papers. I saw her last night and showed her your letter to me. She wants to meet you, particularly since Katherine Brand has been a-talking about you and saying that you two should meet. Helene lives in New York (teaches in Queens College) but goes to Wash- ington for her labors in the Library of Congress almost every week-end. She!ll be going down this Friday for Instance. When in Washington she lives at 31+05 0 St., N.W. with Mr. and Mrs. Ro- per and her telephone is Adams-ij-7399. In town her telephone is Al-£-2i|-71, at 10 Sheridan Sq. Digitized for FRASER http://fraser.stlouisfed.org/ Eill yours,^f^fi Federal Reserve Bank of St. Louis (2.P
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COMMUTE! on THE HISTORY Digitized for FRASER OF 1H£ http://fraser.stlouisfed.org/ FEOIRAt RESERVE SYSTEM Federal Reserve Bank of St. Louis IE C E! I V fc Qil65 PARK AVENUE NEW YORK 28. NEW YORK
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-/t* «M«O «-yi, Digitized for FRASER 1^3 " http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis rlNCHOT, Gifford
October 21* 1955
Dear Ruths In connection with vork waich the staff of this Committee is doing, vo are eager to know where the papers of your late brother— in-lew, Gifford Pinchot, vere deposited* Do you happen to know whether they went to the Library of Congress^ or arc* they in Pennsyl- vania State Archives at Barrlsburg? We &re particularly .interested in the period of the 1930* s when he was Governor of Pean-
Amy liight you car. shed on this problem will be most welcome, Me&nvhlle, the best of greetings to you* Cordially,
Mildred Adams
Mrs. AXOB Pinchot 1165 Park Avenue Hev Icrk, I, I,
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PIXTON, John E* Research Associate School of Commerce Northwestern Univ* See under DAWES, Charles* Correspondence concerning Daves papers*
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PLATT, Edmund
January 26, 1955
Dear Mrs. Flett: It was most kind of you to send us the fat envelope of speeches, memoranda, and correspondence vhieh \ms left by your late husband, Mr. Edmund Platt. We welcome this materiel to our files, and I am asked to assure you that we "will be very glad to h&ve any further material concerned with Federal Reserve matters which you may find. Mr* Platt vas one of the Systems early architects, and we need to know as much as ve can about •what he had to say concerning this financial invention• Thanking you again for your courtesy in this, I em Very sincerely yours,
Mildred Adams
Mrs. Edmund Platt Hilton Hill Garden City Long Island, Sew Xork
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PLATT, Edmund
January 10, 1955
Dear Mrs. Platt:
Hiss McKinstry has passed on to me your letter of January 8th, and I a® happy to hear that you still have aose of Mr. Platt1s papers. ¥e would be very glad to have any that you are willing to send us. Me are particularly interested, of course, in Federal Reserve Board material. You speak of speeches; we would also like any of what I think of as working correspondence, that is, letters which have to do with the details of Federal Reserve work*
I assume from your letter that there is not an enormous amount of this. If this is a mistake, and it fills many boxes, you might prefer to have us recommend a library where the material could be made available to students* On the other hand, if the bulk of it is such that we can handle it here, we would be delighted to have it in this office for our own research use.
May I again say how glad I am that these papers still exist and that you are willing to put them into our hands.
Sincerely yours,
Mildred Adams
Mrs. Edmund Platt 67 Hilton Avenue Garden City 5, New York
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis FLATT, Edmund (Dau.: LINGLE, Mrs. Joseph C. )
September 27, 19$k
Dear Mrs. Linglei Daring the course of the past few months' exploration of source materials relevant to a projected full-scale history of the federal Reserve System, Hiss Mildred Adams, Research Director for the above Committee, has frequently received suggestions from (sow retired) staff lasmbers of the Board that your late father left either to his family or possibly on deposit with some university library an Important collection of his private papers dating from his years of distinguished service in Washington, first as Chair- man of the Souse Banking and Currency Committee and later as Vice Governor of the Federal Reserve Board. If such a collection does exist, it would of course be invaluable to students of American financial history of the twen- ties. This Committee would be most grateful to you if you could give us a lead as to where such papers may now be and, if you can conveniently do so, provide us with a rough list of the contents* Under a grant from the Rockefeller Foundation, Miss Adams has spent the past eight months in interviewing persons who had an active part la founding and developing the Reserve System and in seeking to locate and preserve whatever records and materials there may exist in private hands which may later be mads available to a selected group of outstanding scholars who will undertake the actual writing. Since your father was one of the key figures in the early years of the Board, we are most anxious to include in our central register an inventory of any diaries, memoranda, cor- respondence, speeches, and published or unpublished articles which he may have left and which would certainly be most valuable for the light which they might throw on central banking developments in the twenties. We would of course want to minimise the burden which this request places upon you. If it would be more convenient from your point of view to talk with Miss Adams, she would be more than glad to call upon you by appoint* ment. As our work progresses to the second stage-—the writing of the formal history—we shall of course request specific permission for the use of any items included in our present inventory. Any assistance which you can give us in our present quest will be most deeply appreciated by the members of the Committee, Sincerely yours,
Mrs • Joseph C • Lingle Research Assistant Saw Milford, Connecticut km Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis /
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Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis f*» Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis POIKDEXTER, Miles (Papers) See under BERKELEY, Francis L» November, 1955 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis John W. Pole Fairf ield, Illinois June 15, Miss Catherine McKinstry, Research Assistant, 33 Liberty Street, New York H-5, New York Dear Miss McKinstry: Thank you for your letter of June *+th, out- lining the work in which Miss Adams is engaged. As a Bank Examiner I had no part whatever to do with the Federal Reserve System in its formative period, since I did not go to Washington until 1923 as Chief National Bank Examiner* The duties at that time were heavy and became increasingly so as time went on. I was not a member of the Board. In 1928, the year I was appointed Comptroller of the Currency, my chief interest was in bringing about a form of branch bank- ing which would have the effect of halting the growth ofljhlding companies, which included both National and'otate Banks. All this is outlined in my annual reports to Congress, which are readily available* I am sorry I cannot offer any helpful inform- ation to Miss Adams, but shall look forward to the results of her research. jwp/gk Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis POLE, John ¥. f. ft »/l- I (' U-A ^f- CC *MM ?Z^ '*>fc i r^ June A, 1954 Besr Mr. Pole: Under a grant from the Rockefeller Founda- tion, Miss Mildred Adams, research director for ike above Committee, he.s been engaged for the past few months In interviewing persons connected with the Federal Reserve System In Its earlier days* She is especially Interested in talking with former Comptrollers of the Currency and other Treasury of- ficials who were closely associated with Reserve matters during the formative years of the System, She has located in various libraries, such as the Library of Congress, Heeerve Board and BanJc libraries, as well as ia university libraries— important collections of private papers of persons who were influential in the development of our central banking system. She has al3o been successful in find* ing and acquiring, either by outright gift or loan, hitherto privetely held collections of material of former Reserve System officials, economists, and others which will be useful at a later stage of this project nhea qualified scholars will be enlisted to undertake the actual writing of monographs or books on aspeets of Reserve %-stem history. While It say mt be possible for Miss Adeias to visit the Middle Vest for soae aonths, she h&g asked a© to send you this note to Inquire whether you have have in your possession or els#wher© any private papers- memoranda, speeches, correspondence, diaries, memoirs, etc.—covering your years as a bank examiner, at the Treasury, and at the Reserve Board, and, If so, whether you would provide us with a list of the materials which you say have. This Committee would be most grateful to you for any assistance you can give us. Sincerely yours, Research Assistant Mr* John V* Pole Fairfield, Illinois Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis POSNER, Russell December 7, 1 Dear Mr* Posner: lour letter of November 30th followed & query from Miss Sutherland of the Federal Reserve Bo&rd asking if we could send you any more information than she had sbout certain questions which you asked. We are so newly organized that there are still gaps in our information. A year from now I would hope to know a good deal more than ve do now. Hovever, I would like to make the following sugges- tions* The library in the Federal Reserve Bank of San Francisco has a good deal of material on branch banking. Miss Elizabeth Hoi- den is the librarian, end if you hove not already looked at her ma- terial, you may find tilings there which &nea added light on what you found in the archives of the Bank of Asaerics.. I assume you have consulted the records of Congressional hearings during the 1920s, particularly the hearings on the McFadden Act. You will also have looked &t the Annual Reports of the Board itself and of the Comptroller of the Currency. You ask about the papers of specific individuals. Ve have not been able to^find anything left by Mr. D. R. Crissinger. We are told he vas • politician and not the type likely to leave illuminat- ing papers. The Dswes papers ere in the Deering Library at liorth- vestera University. A Dr. John Pixton was working on them in the summer and might be able to answer questions concerning toes. We have found nothing shedding light on J. V9 Hclntosh. You know, of course, that the papers of Calvin Coolidge tre at the Library of Congress. I asaume that those of Herbert Hoo- ver are at Stanford, but we have no definite information on this. If, In the course of your studies, you consult them, we would be grateful for tny information you can send us about them. The Car- ter Glass papers are tt the University of Virginia, and an inven- tory has been prepared but not been distributed. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis About access to correspondence or memoranda of Board mem- bers or their subordinate officials relative to the California branch banking picture or the formation of the McFadden Act, that material would presumably be in the files of the Federal Reserve Board in Washington and is not easy to obtain by correspondence. If you have any particular memorandum in mind, my only suggestion would be thet you might write to Mr* Sara Carpenter, Secretary of the Boerd* I hope that this information will be of some use, and I am oorry that we can not yet give you full coverage. Very sincerely yours, Mildred Adams Mr* Russell M# Posaer City College of San Francisco Ocean end Phelan Avenues San Francisco 12, California Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis November 30, Hiss Mildred Adams • Director of Research QEC 2 1954 Coinmittee on the History or tiie i^R.S* Hew York, H»Y# COtt*TT££ ON THE HISTORY Of THI Dear Miss Adams: rtHBIAHIttciwttYSTCM As you undoubtedly know from correspondence v/itii Alvern Sutherland, I am work lag on a doctoral tliesis \mder Professor John Hicks at the university of California (Berkeley) on the branch banking controversy in California in the 1920*s• I vras wondering v/hether your committee could be of assistance "&O lilQm In your collection of material on the history of the federal Reserve Bystem, do you hare material on the relations or changes in attitude of the Federal Reserve Board towards branch banking in general and California branch banking in particular for the period 1920-1930f in the years immediately proceeding and roliowing the enactment of the Mc^adden BUI of 192?? I an particularly interested in relations with, the Bank of Italy• I have been granted access tiirougn their archivist to the papers of the Bank of America^ Would it be possible to obtain scholarly access to correspondence, hearings, surveys or memoranda of Board members or their subordinate officials relative 3JI tne HU!s to the California branch banlciiig picture/or the formulation of the Mcifadden Act(Which affected California branch banking markedly]2 I am not interested in financial material vmieii Is normally confidential in nature, but rather in raatters of fornuitation of general policy* The period is now long ago and mich of it nas been covered from the Bank of .Americafs side in Marquis Jonesf Biography of a Bank+ 1 vrould use material j;iade available to me subject to axiy restrictions placed upon ro# 1 have one last question to -si: before j. close this letter• Do you nave Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis any knowledge of the papers of the following men, jjJU Crisslnger, Henry; M« Dawes or JVtf# Helntosh, rontier comptrollers of the uurrency, viho were connected with the federal Eeserre Board in the 1920*s? The Personel Officetr of the comptroller of the C-urreney was tumble to giro me any inrormation on the iriatter# Thank you for 3"our courtesy In reading this letter* X hare enclosed a stamped self-addressed envelope for your conTenience# Yoiors sincere uity Gollege of San ^ancisco Ocean and Fhelan Avenues San Francisco, 12fCalifornia"^ RRCCIVEO Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis I, J Digitized for FRASER http://fraser.stlouisfed.org/ & '/ ... Federal Reserve !Bank of St. Louis F OSKER November 11f 1954. The Librarian Federal Reserve Board Washington, D. C. Dear Sir: I am a History instructor at the City College of San Francisco and am working on my doctorate at the University of California under Professor John Hicks. I am interested in the branch banking controversy in California in the 1920 vs vith its political overtones. I would like to write to any surviving members of the Board for that period for background information. Are any of the following men still livingf and if so, what are their addresses—Adolph (!• Miller, Edmund Platt. Charles ju Bamlin. George E. James > Edward F- f^]flT^ny~ ham, Roy A. Young, J. R. Mitchell or W. P. G. Harding? If they are deceased, do you have any knowledge of the disposition of their papers? Any help you can give me will be greatly appreciated. Biclosed a stamped self-addressed envelope for your convenience. Thank you for your courtesy in reading this letter* Sincerely, Bussell M. Posner City College of San Francisco Ocean and Phelan Avenues* San Francisco, 12, Calif. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 18, 1954 .' r. BUMU I • 'osnor, City College of San Francisco, Ocsan end Phel&n Avenues, San Francisco 12, California. Bear r. Posner: Tour letter of Sovenber 11 concerning Federal Reserve Board members in 1920 has "bean received. Governors Killer, Ple.it, TTfUn. James, Cunning- ham, ivitchell, and Har&lBf are Ami eased, fhe latest edition of ^hto *s Khc i& A&orica lists :-:oy A. Young's address as: &OMI 41 Spooner Roa<3» Chestnut Kill, ! assachueettt, and Office: 28 Stats Street, Boston, HT* Molph 0* filler's papers wera recently over to the Board1! Secretary's Office An inventory of the collection reveals that they consist aisaost entirely of copies of published articles and spesches, which are also available in our Llfenury. Mr» Charles S. Baalia't papers were deposited in th® r^anuocripts Division of the Library of Congress under a ten year seal. These papers have recently "osea released are now available to the public. 9M locations of the pop in of Ihi other i.;an you nention are unkno\m to us. Eecontly, a CoirMttee on the History of ths Federal Reserve System has been set up. Their of/icas are at 33 Liberty Street, low Tofk 45, Vov fork. Copies of your letter and this reply are being forwarded to Hies f ildred Adacm, Director of -lesearch of the CoMdHoo* if Klof AdoJit has any further information OB the papers of any of those rsen, 1 sr sure she will send it on to yon. Sincerely» . Sutherland, librarian. , Bso Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis POTTER, Mrs. Pitman (Margaret) See under HARDY, Charles 0* correspondence Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis rOTTER, William May 13, 1955 Dear Mr. Potter: Mr. Donald Woodw&rd has handed me your letter of April 15th, with its remembered accounts of interesting events and its statement that you expected to return to Bev Xork about Hay 1st* What you &&yftbont your term as director, and about the hectic days of 1933* wdBM see wonder if you would tell ae more about those periods in a personal interview* We find that while the main events h*v© been recorded, the complex detail of how it was that results were achieved is stored in men's memories rather than in books* It is Memories such es yours which we are eager to tap for this history project* If you are to be in Hew York during May and June* perhaps you would let my assistant, Mrs. Singer* phone your sec- retary to make an appointment either at your office or this one* Certainly, I hope so* Ve need your help on this* Very sincerely yours, Mildred Adams Mr. William Poster Blue Springs Plantation Albany, Georgia Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis TBL. ALBANY, GA. 851-J. BLUE SPRINGS PLANTATION ALBANY, GEORGIA ECEIVED APR2Ot955 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis TEL. ALBANY, GA, 851-J. BLUE SPRINGS PLANTATION ALBANY, GEORGIA Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ?7l Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PUTTER, William A, March 18, 1955 Dear Mr, Potter: Thanks so much for your letter of M&rch 14th, with the good news that when you come back from the south ve may esk for an ap- pointment to come and see you, I em so sorry about the arthritis, and I do hope that your recovery vill be quick and sure. We heve put down the middle of April and will telephone you sometime efter that to see if you are back. Tais project needs your cooperation* sincerely yours, Mildred Adams Mr, Willies A. Potter L4.0 Bro&dwey Kev York 15, M» Y« Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis WILLIAM C POTTER *** W E | V E Q ONE HUNDRED FORTY BROADWAY ^^ :N":EW YORK is, TST. Y. '^« 15 1955 COMMITTE£ ON THE HISTORY OF THE FEDERAL RESERVE SYSTEM March 1U, Miss Mildred Adams Committee on the Histoiy of the Federal Reserve System 33 Liberty Street New York l£, N.Y. Dear Miss Adams, I am in receipt of your letter of March 10 and, of course, it deals with a subject in which I naturally am interested, and I would be very glad to cooperate in any way that I can* However, I came here from the south with an acute attack of arthritis and have been in the hospital for ten days, and the doctors are now sending me south again to stay at my place near Albany, Georgia, for a month, so that I will not be available in New York until, let us say, the middle of April. If there is anything I can do to further your plans in the meantime and you will let me know, I will gladly do it. Yours very truly, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis HOTTER, William A. March 10, 1955 Deer &r. Potters The members of this Committee, remember- ing your decade of service as a member of the Fe- deral Reserve Advisory Council and a director of the Federal Reserve Bank of flew York, have asked me to bring to your attention the history project on which we are now engaged end to seek your co- operation for it. The project was started in the belief that the time had come for a new look at the long course of Federal Reserve history. Too many of the men who created the System were no longer available to tell historians what really happened on disputed points. Even their papers were dis- persed and in certain instances destroyed* Be- fore the losses mounted higher, it was felt that a real effort should be made to record memories and locate correspondence and other papers that might be of value to the historian, About a year ago the staff assembled by this Committee, with the aid of a small grant from the Rockefeller Foundation, began to inter- view people who had played an important part in the System's foundation and development, and to locate and catalogue information end material which might be valuable to the historian. The pilot project was so successful that in June the Rockefeller Foundation made us Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis -2- a five-year grant to further the Committee's work. We have been, since July, 195-4* working with the assurance that we had time in which to continue the program of collecting memories and papers from the men who have made the System what it is* If our records ere correct, your years of service spanned the depression of the 1930's, included the banking holiday of 1933# and ended in the shadow cast by the start of World War II* This is, of course, an extremely interesting period in the history of the Federal Reserve Sys- tem* We are hoping, therefore, that you may be willing to consent to an interview or two so that we may profit by your memories of that period* It would be of great help to get your point of view on certain details, and to know how certain key incidents looked from where you sat* If it suits your convenience, I would very much like to schedule these interviews to- ward the end of March, at whatever place you choose* The Committee would want me to thank you for your kind consideration of this request. Very sincerely yours* Mildred Adams Mr, William A. Potter 1^0 Broadway Hew Tork I5f «• !• Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PRESCOTT, Mrs. Sherburne See correspondence WIGGIN, Albert H« (Papers) Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PRICE, Lucien 0 July 25, 1955 Dear Hr» Price; Two members of this Coiaaittee have been informed thet you once did & story on. Dr* Walter Stewart* one-time professor at Aaherst College, recently resigned as a mem- ber of the President's Council of Economic Advisers. Ro date was given, tudp as a correspondent of your competence artist have interviewed a great isany people over the course of s working life, there is of course the chance that this, which we understand to have been a good story, was lost* But if you do remember it, and can lay hands on a copy, the Committee ae&bers would be most grateful. If a copy is not available, perhaps you could givs us the date of publication so that we could have files searched here. I assume tile publication was the Boston Globe• Thanks so isueh for your kindness in this* Very sincerely yours. Mildred Adaas Mr* liUcien Price the Boston Globe Boston, Massachusetts Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PRICE, Lucien Reporter on Boston Globe See letter of CALKINS, Robert D*, July 22, 1955 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PRICKETT, Karl E* June 17, 195-4 Dear Mr. Prickettz Mr. Donald Woodward has sent a© your letter of June 5 th, and I ma taking the liberty of repeating his st&teraent in an earlier letter that ve would like very rsueh to talk vith you when that is possible. Vhat Mr. Woodward told me of your interest in this pro- ject makes me quite sure that there 9X9 details of tha early Board stored in your memory which we vould very much like to have. You ask about Mr. Joseph Broderick. He has recently re- tired as President of the East River Savings Bank:, but he still keeps an office there and has been very kind in letting us consult him. He is, as you indicate, a cine of information and is being very good in sharing it with us, Ve are hoping that you come this way in the not too distant future. Most sincerely yours, Mildred Adams Research Director Hr. Karl E. prickett 1501 Briarcliff Boad Greensboro, Korth Carolina Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis From the office of D.B. WOODWARD Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis E.PRICKETT 15O1 BRIARGLIFF ROAB GREENSBORO, NORTH CAROLINA June 5, 1954. Dear Mi* Woodward: Sorry to have taken so long to answer your letter to me dated May 25* Congratulations on the grant from Rockefeller Foundation* I have been thinking over any contribution I could make to the study• Frankly9 I can add nothing worth while• That is a frank admission of fact*, not modesty* Has Joe Broderick retired as President of East River Savings Bank of New York? Mr* Broderick was with the board practically from inception* He served as department head, secretary and later as a governor* Mr* Broderick is an excellent student, a keen observer and had an unusual series of positions with the Board during the early years* I think you will find him one of the best men to give you "background11 material and with whom to check con- clusions* Again# congratulations on the grant* I wish that I could add to the study* Frankly, I can't* With all good wishes, I am 4Si/cerely yours, Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis May 25, Mr. Karl •*. Prickett 1501 Brlarcliff Road Greensboro, Kiorth Carolina Dear Mr, Prickett: I am happy to tell you that the Rockefeller Foundation has granted to this Committee $300,000 to permit operations to continue over the next five years, You do have first hand knowledge of two of the very important phases of the history of the System and they are phases about which probably less is known than many others. .Accordingly, the Research Director would very much like to talk with you when that is possible. Gould you let us know when you will be North again? I have passed 'the other helpful suggestions which you made and they 'ill be followed. With regards> Very truly yours. ionald Ba woodward ccs Miss Mildred Adams DBWs bam Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PRINCETON TM April 9, 1956 Dear Mr* Mrs* Singer, to whoa your letter of April 1st was addressed* has not br with us for & number of months, but we were glad to read of your plsns for remodeling the facilities of the Princeton Inn# The Inn proved very satisfactory to this Cosimittee for the conferences held there in 1954- &&& 1955* and I era sure that these face- lifting &n& air-eonditioning operations vill jseke it even more so in the future* It was moat kind of you to let us know of your plans. Sincerely yours* I was Burstein Assistant Mr. G. Bland Hoke General Htmager The Princeton Inn Princeton, New Jersey Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis a SJ COMMITTEE OH THE HISTORY /v n/U.A OF THE Utasr It 1956 FEDERAL RESERVE SYSTEM EXECUTIVE OFFICES Mrs. Ellen C. Singer, Research Assistant Federal Reserve System, Committee of History 33 Liberty Street Hew York k$% New York Dear Mrs. Singer: In 195^ and 1955 we had the pleasure of entertaining you and your group here at the Princeton Inn* At that time we realized that many of our facilities were not ideally suited to your needs, and particularly our meet- ing and "banquet room accommodations. The real purpose of this letter is to acquaint you with the plans that we have in progress for correcting these conditons "by September 15, 1956# Attached hereto you will find an architectural rendering of how the old Cocktail Lounge will appear "by that time, with complete specifications of this new room* In addition to this, the Back Bay Room, which is now known as Con- ference Room C, has had a complete face-lifting in it's decor, lighting, sound conditioning of the ceiling, etc. A new Cocktail Lounge was completed on March 10 of this year just off the Main Dining Rooms, and "by June 1, 1956, all of the public areas, including the Back Bay Room and the old Cocktail Lounge, now known as Conference Room B, will "be air-conditioned. Also 50$ of our "bedrooms will likewise "be air- conditioned "by June !• I do hope that it will "be possible for you to come to Princeton to view first-hand these many improvements that we have made to the Inn» Again may I say what a pleasure to us it was having the opportunity to entertain you in 195^- and 1955* and with kindest personal regards, I am 0, Bland Hoke, General Manager. GEBH: sw encl# Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PRINCETON INN BASEMENT CONFERENCE ROOM - B SPECIFICATIONS 1. Square feet of floor area 1 802 2. Ceiling height 9'-5" 3. Room dimensions Length - 36'-6" Width - 38'-0" 4. Electrical current characteristics 120/208 Volts A.C. 5. Indirect lighting 6. Room will be air conditioned. 7. Ceiling is acoustically treated with 12" x 12" acoustical mineral tile. 8. Seating lecture style — 300 persons 9. Seating conference style — 25 — 200 persons Digitized for FRASER http://fraser.stlouisfed.org/ 10. Seating banquet style — 25 — 250 persons Federal Reserve Bank of St. Louis J Jrmmt 19 5 5 The 100 room Inn is famed for its cordial hospitality and Early-American charm. Vacationers, visiting parents, business oom men and Princeton Alumni alike enjoy EUROPEAN PLAN its restful atmosphere and convenient set- ting. Overlooking rolling acres of beauti- July 1 to Sept. 1 ful countryside, and adjacent to the DAILY RATES Princeton University campus, the Inn is Single Room without Bath $ 3.00-$ 4.00 Double Room without Bath 6.00- 8.00 still near the center of town. Single Room with Connecting Bath .... 4.00— 6.00 Spacious, comfortable guest rooms and Double Room with Connecting Bath. .. 8.00- 10.00 gracious service are a part of the Inn's tra- Single Room with Private Bath 5.00- 12.00 dition. And our reputation for delicious Double Room with Private Bath 10.00- 16.00 food is heralded far and wide. There are Single Room with Bath & Parlor 18.00- 24.00 several inviting dining rooms where Double Room with Bath & Parlor 23.00- 28.00 superb fare may be enjoyed in delightful Third Person in Double Room 2.00 surroundings after a few drinks in our popular and extremely pleasant Cocktail Sept. 1 to July 1 Lounge. DAILY RATES Single Room without Bath $ 4.00-$ 6.00 Among our facilities are several rooms Double Room without Bath 8.00- 10.00 which are ideal for business conferences, Single Room with Connecting Bath. .. . 5.00— 7.00 social events and other private functions. Double Room with Connecting Bath. .. 10.00- 12.00 We will be happy to mail you specific Single Room with Private Bath 7.00- 14.00 material on our special function facilities Double Room with Private Bath 12.00- 18.00 on request. Single Room with Bath & Parlor 20.00- 26.00 The charming accommodations, beau- Double Room with Bath & Parlor 25.00- 30.00 tiful setting and convenient location of Third Person in Double Room 2.00 the delightful Princeton Inn make it the Reduction for extended stay: Five per cent for full two ideal place to stay ... for either a few weeks; Ten per cent for one full month or longer. days or several weeks . . . while visiting MEAL RATES picturesque Princeton. Breakfast from 85tf • Luncheon from $1.85 • Dinner from $3.00 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis How to get to Princeton Inn (D ET Princeton, New Jersey BY AUTOMOBILE From the North: New Jersey Turnpike to Exit #8 or #9. Then to U.S. 1. Princeton Inn one mile from U.S. 1 on U.S. 206. Or South on U.S. 1, U.S. 206 or N.J. 27. From the South: New Jersey Turnpike to Exit #7 or #8. Then to U.S. 1 as above. Or U.S. 206 North from Trenton. BY TRAIN: To Princeton Junction on the main line of the Pennsylvania Railroad. Transfer to Princeton. Princeton Inn just one block from Princeton Station. G. BLAND HOKE — GENERAL MANAGER Telephone PRinceton 1-5200 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis EXECUTIVE OFFICES February 7* 1955 Miss Mildred Adams Committee on the History of The Federal Reserve System 33 Liberty Street New York 45, N. Y. Dear Miss Adams: Thank you very much for your letter of February 4th. I am pleased that the Gold Room was satisfactory as a meeting room for the Committee. We too regret the uncertainty of the room accommodations that would be available on Friday night but I am glad that it worked out as well as it did. It is a pleasure to serve your group and I hope you will plan another meeting at the Inn before long. With kind regards, I am, Sincerely, G. Bland Hoke General Manager GBH:rl CEIVED QQLWJTTEZ OTJ THE HISTCrV OF THE FEDERAL RESERVE SYST&M Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PRINCETON February U% 1955 Bear Mr. Hoke: Once ag&ia I have the pie&s&nt task of expressing the thanks of this Coaadttee for the hospitality of the Princeton Inn, The Gold-Hunt Room proved to be an excellent meeting-place, and the single interruption of noise from the dining-room came so opportunely fcf a comment on the discus- sion that I vss almost grateful for it. The uncertainty about reservations va3 disturbing, but I am glad you finally had room for almost all of the Cosunittee members• The happy atmosphere of the Princeton Inn seems conducive to successfui meetings* Will you please convey the Committee's gratitude to the members of your staff for their willing and unob- trusive service. lour assistant m&n&ger was particularly helpful in obtaining a typewriter and paper for us. Thank you for ell your efforts on our behalf. Very sincerely yours, Mildred Adams Mr. G. Bland Hoke The Princeton Inn Princeton, HQV Jersey Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis xlCEXOii IHii a EXECUTIVE OFFICES January 17, 1955 Miss Mildred Adams Committee on the History of the Federal Reserve System 33 Liberty Street New York 45, H. Y. Dear Miss Adams: Thank you very much for your letter of January 14th. Unfortunately, due to the change of dates for this meeting, the Conference Room will not be available for your meetings on Saturday and Sunday* However, we have blocked off the living room of one of our larger suites and will set this room up for your meetings# I am indeed sorry to learn of Mrs. Singerfs illness and do hope she is improving rapidly* Kind regards and best wishes. G. Bland Hoke General Manager GBH:rl RECEIVED JAM 1 o 1955 COMMITTEE CM THE HISTORY OF THE FEDERAL RESERVE SYSTEM Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis H IM January 1A, 1955 Dear Mr. Hokei The plans for the weekend of the 29th seem to be taking on more fora. Would you kindly hold aoconodations for 7 for Friday night, the 28th? The Committee vould probably prefer single rooms with baths if you hare them, We might be able to manage vith 5 singles and 2 adjoining rooms vith & bath between. I shall be there myself, and we vill probably have 6 Coasiittee members. ye will need the conference room for all day Saturday, January 29th. I can not yet tell you hov many people will be stay- ing for Saturday night and Sunday, but as soon as this is decided, I will let you know. Mrs. Singer is ill, but she vill be talking to you later about other details of these arrangements. Thank you for your good care for all this. Very sincerely yours, Mildred Adams Mr. 9. Bland Hoke General Manager Princeton Inn Princeton, flew Jersey Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis ECEIVID <£> /^r 'J.* MT1EZ Cli THE HISTORY Of THE f ED£RAl RESERVE EXECUTIVE OFFICES December 21, 1954 Mrs. Ellen C. Singer Research Assistant 33 Liberty Street New York 45, N. Y. Dear Mrs. Singer: Referring to your letter with regard to the points in question on the statement for your meeting at Princeton Inn, I have had the accounting department make a thorough check into this and we have found the following. As to Mr. Woodward's account, you are absolutely correct in that there should have been no charge for the 21st and 22nd of November. For some unknown reason at the time Mr. Woodward checked out the clerk on duty failed to remove the rack slip; consequently, the records at the front office showed the room as being occupied through the 22nd. A corrected statement is enclosed. The charge of 75,^ labeled Cash Advance was for a gratuity on a beverage check which was signed by Miss Mildred Adams; the charge of $1.00 under Gift Shop was for newspapers purchased in the Gift Shop; the charge of $15•OO listed under Room Service was a dinner check of November 21st, signed by Miss Adams. This was incor- rectly listed under Room Service since there was no more room under the food column on the statement. I would like to take this opportunity to confirm the change in dates for your next conference at the Inn. We have released the dates of January 6, 7 and #, 1955 and have reserved the dates of January 29> 30 and 31* 1955. With kindest regards and best wishes for a very happy holiday season, I am, Cordially, Digitized for FRASER http://fraser.stlouisfed.org/ . Bland Hoke Federal Reserve Bank of St. Louis sneral Manaeer FKUCETOW IiNliM HOKE, G. Bland December 6, 195U Bear Mr, Hoke: ¥e have been waiting for a bill fro© you but none has arrived. If you have not sent it, vill you please do BO as soon as jo^8ibie. We are anxious to clo?e our accounts on the Princeton meeting. Ve are still unable to make definite reservations for our next meeting at Princeton but I ho^-e to do so ?arly next veek. Sincerely, Research Assistant Mr. G. Bland Hoke Princeton Inn Princeton, Nev Jersey Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis rt Lin EXECUTIVE OFFICES November 26, 1954 Miss Mildred Adams Research Director Committee on the History of The Federal Reserve System 33 Liberty Street New York 45, N. 1. Dear Miss Adams: Your very kind letter of November 24th arrived this morning and I was delighted to learn that your meeting at Princeton Inn was a success* You may be assured your comments have been passed on to the members of my staff. We are indeed pleased that you plan to hold another Committee meeting at the Inn in January and we will look forward to hearing from Mrs* Singer about definite arrangements. With kind regards, I am, Sincerely, G. Bland Hoke General Manager GBHrrl Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis November H$ 1954 Dear Mr. Hoke: Committee members feel that taeir three-day meet- ing at Princeton was most successful, mid. I am sure thet no small part of that success is due to the stsosphere in which they worked• The pleasant surroundings, the good food, com- fortable aceomodations, and particularly the villlng atti- tude of the staff end employees of the Inn created e cli- E.s.te wiiich encouraged effective Wife* I hope th&t our gra- titude to all who helped us aey be passed on through you, Thank you very much* We intend to hold another coMsittee meeti%' in January tad would like to meet again &t the Inn, As our plans now st&nd, Drs» Wood, Chendler, and Bopp will meet on Thursday, J&nuary 6th, the full Cosmittee vill meet on Saturday, the 8th, and the three experts will meet ag&in on Sunday, the 9th. Mrs, Singer vill write you about de- finite arrangements, but I wanted you to know nov of our plans. The prospect of toother aojourn at Princeton is pleasant to contesiplate. Very sincerely yours Mildred Kr. Bland Hoke Princeton Inn Princeton, Kev Jersey Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PRIriCETCM November 15, 1954. Dear Hr» Hokes This is to confirm our conversation of November 12, 1954.* ^e understand that you are reserving for this Committee the following accoKodations: Saturday, Nov. 20, 1954 3 single rooms with private baths 1 single-room suite, with private parlor and bath connected with additional single room 2 single rooftS with connecting bsths (2 single rooms with private baths to be substituted if I possible) Sunday, Mov. 2|§* 1954 1 single room with private bath 1 single-roos suite, with private parlor and beth connected with additional single room use of conference room private dining room for lunch Monday, Mov. 22, 1954- use of single-room suite We understand that the Cossmittee may be liable for charges on the suite arrangement for Friday, November 19, since they wish to use it at 10:00 a.m. on Saturday corning. The occupants of this suite will be Dr. Karl Bopp of Philadelphia and Dr. Elmer Wood of Missouri. Miss Mildred Adsms, Research Director of this Committee will also check in about 10:00 a.E. on Saturday &nd will vish to use the single roc* you have reserved through Sunday night. The other members of the CosREittee using rooias at the Inn will arrive on Saturday afternoon end leave Sunday afternoon. Mr. Donald Woodward and Mr. Winfield Rtefler vill use the two single rooms with connecting baths if you are not able to give them rooms with private baths. Dr. Robert C&lkina and Dr. F. Cyril Janes will use the single rooms with private baths. It is our understanding that all charges, including drinks and en allowance for tips will be put on the final bill. When Miss Adams arrives on Saturday morning, she will discuss these arrangements with you and will also choose a menu for Sunday lunch* Th&nk you very much for taking care of everything so well. Sincerely, Mrs. Singer Mr. G« Bland Hoke Princeton Inn Digitized forPrinceton FRASER , Hew Je ©ey http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis a EXECUTIVE OFFICES November 2, 1954 Miss Ellen C, Singer Committeee on the History of The Federal Reserve System 33 Liberty Street New York 45, N. Y. Dear Miss Singer: Thank you very much for your letter confirming your telephone calls of last week. We are pleased to reserve eight (8) single rooms, four (4) of which will connect through a bath, for the nights of Saturday and Sunday, November 20 and 21, 1954. Enclosed is a schedule of our room rates. We have also reserved the Conference Room for your use on Sunday and a private dining room for the noon meal on Sunday for approximately twelve (12) persons at 12:45. I am glad that you will be in Princeton this weekend and will look forward to meeting with you at 12 noon on Saturday, November 6. Sincerely, G. Bland Hoke General Manager GBH:rl cc: Reservation Office Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis -RINCETOfl IM October 28, 1954 Deer Mr, Hoke: This letter la to confirm telephone conversetiona with you on October 26 &nd 23, reserving bedrooms and the Conference Hooaa over the weekend of November ?0 for the use of the above As I told you over the telephone, it is impossible to state nov exactly t&at our requirements vill be that weekend. We shell, however, HNMNtiber that this- is »n Important weekend for Princeton and will let you know definitely what %m want as soon as possible. At the moment, we vish to reserve eight single rooms with bsth, of >diica four say be single rooms vith connecting baths as dis- cussed on the telephone, for both Saturday tnd S&nd&y nights, November 20 and 21. We plan to use the Conference Boom ell dry Sunday, with lunch for at least twelve in e private dining-room at 12:45, If you have any questions as to this, please do not hesitate to cell me at Rector 2-5700, extension 236, I shell be in Princeton on iiovember 6 and sit 11 plf n to come to the Inn at 12 nooii to discuss arrangements with you, I vould appreciate it ff you would confinii this appointment by letter and et the seme tl»« indiCEte your schedule of prices. We are looking forward to holding this conference in the pleasant atmosphere of your Inn. Very sincerely yours, Research Assistant The Princeton Inn Friuceton, Nev Jersey Attention: Mr. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PRINCETON UNIVERSITY PRESS See under PUBLISHING, correspondence folder Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis FHOCHHOW, Herbert V* Secretary of Federal Advisory Council See also under FEDERAL ADVISORY" COUNCIL in F correspondence folder Letter of March 3> 1954 60 Mr* Prochnow Reply of March 9, 1954- vith list of F.A.C. members Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PROGRESSIVE DISCOUNT RATE December 6, 1955 See letter from John T. Bojisen of above date filed in KANSAS CITY BANK correspondence file. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis PULLMAN C C 0 x- Y ruJbij -tilt* UU:=fil A?i I f^rcharidise ?4irt Flaza Chicago Sk§ IIlinois Federal Reserve Bank of i*ew York May 27, 19^5 Attn s Iftaa I»g 3locl -ett, 33 Liberty St», Claim Ko« U266O *iew *ork U5« 8« Y» OentlMWttt i'teferring to your application Tor refund on Pullman ticket f/k'kB for use from New i'ork to ashin^ton the evening of 'Jay 17th. Rules now in effect roverniii;; the redemption of tickets for sleeping accommodations for trips initial to the territory involved in this case permit of refund in the Main only -There the space covered t*a released before the day of departure of the train. .Exceptions to these general miles are made under such unuaual circumstances as late arrival of connectin- train, train annn3jMfit| error in sale chargeable to issuing agtot| etc. The adoption of these rales trat made necessar/ in order to remedy the serious situation resnltinp. from failures of ticket purchasers to rmke timely release of aaooanodationa which were not to ba >Jtsed« The tariff arnlOM proriaioo for a sin le exchange of tickets for a correspond In trip within aeren days, and it is felt that this meets gqparally the needs of those vheaa plans are changed, 'This axohanga authority applies only inhere the new ticket covered sleeping aoooaaodatiotia which explains why it could not be granted in your case since a seat only was used, fe trust yon will understand, therefore why vdth the infor- mation at hand we are not prepared to jsake the refund requested and the ticket is returned• lours truly, /S/ C D Boak "•eneral Passenger A^ent Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis