InvestmentBankers A ssociation ofA merica GOVERNOI3S GOVERNCORS)RS PRESIDENTPRES IDENT GOVE CHICAGO DONALD 1.McLEOD TORONTO DUDLEY F. BAKER DENVER JAY N.WHIPPLE PAT G. MORRIS CHICAGO WILLIAM BAYNE BOSTON VICE PRESIDENTS PITTSBURGH FREDERIC J.BLANCHETT SEATTLE FREDERIC P.MULLINS CHICAGO CLEVELAND JOHN E. BLUNT, 3^2 CHICAGO ARTHUR C.ALLYN MAYNARD H.MURCH NEW YORK WILLIAM H. BRAND MILWAUKEE ALBERT T. ARM ITAGE BOSTON ALBERT H.GORDON NEW YORK AUGUSTUS W. PHELPS A . E . PONTING SAN FRANCISCO ERROL E. BUCKNER NEW ORLEANS JOHN CLIFFORD FOLGER WASHINGTON EDWARD HOPKlNSON, JR. PHILADELPHIA HAGOOD CLARKE ATLANTA WILLIAM J. PRICE.35° BALTIMORE JULIEN H.COLLINS CHICAGO EXECUTIVE SECRETARY a TREASURER JAMES F. OUIGG ST. LOUIS PHILADELPHIA FAIRMAN R. DICK NEW YORK ALDEN H. LITTLE CHICAGO ROBERT G. ROWE RUSH S.DICKSON CHARLOTTE WILLIAM O.SKILLMAN DALLAS HENRY H.EGLY NEW YORK FIELD SECRETARY EDUCATIONAL DIRECTOR F. KENNETH STEPHENSON NEW YORK F. D. FARRELL KANSAS CITY ARTHUR G.DAVIS CHICAGO DAVID DILLMAN CHICAGO PERCY M. STEWART NEW YORK JOHN S. FLEEK CLEVELAND R. MeLEAN STEWART NEW YORK LLOYD S. GILMOUR NEW YORK MUNICIPAL SECRETARY SECRETARY WINTHROP E.SULLIVAN CHICAGO ARNOLD GRUNIGEN,JR. SAN FRANCISCO DUDLEY C.SMITH CHICAGO ROBERT STEVENSON,3S£ CHICAGO JOSEPH T. WALKER. JR. BOSTON WILLIAM H.Y. HACKETT BOSTON T. JOHNSON WARD PHILADELPHIA NEW YORK ASSISTANT SECRETARY JOHN D. HARRISON PHILIP K.WATSON DETROIT LOS ANGELES GEORGE E.JONES MARY R. LINCOLN CHICAGO ELMER L.WILLIAMS MINNEAPOLIS ST. LOUtS 1. A. LONG ROBERT N.WILLIAMS SPOKANE JOHN S.LOOMIS CHICAGO HARRY B. WYETH, JR. LOS ANGELES STANLEY G. Me KIE CINCINNATI OFFICE OF THE EDUCATIONAL DIRECTOR 33 SOUTH CLARK STREET CHICAGO November 3 , 1942 Hon. Marriner S. Eccles, Chairman, Board, o f Governors o f the Federal Reserve System, V/ashington, D. C. Dear Mr. Eccles - For the purpose of a condensed version of the War Finance Conference we are publishing in the INVESTMENT BANKING now in preparation,a few of the highlights of your remarks have been lifted from the reporter's transcript. A copy of the text quoting you is attached. I hope it in no way distorts your meaning. Naturally, if it does or if there are any changes you would like to have made, w ill you simply note than on this copy and airmail it back to us. Sincerely yours, Educational Director DD H e n d Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis November 5, 19A^« Mr. David Dillman, Educational Director, Investment Bankers Association of America, 33 South Clark Street, Chicago, Illinois. Dear Mr. Dillman: This is to acknowledge your letter of November 3 enclosing a reporter's transcript of part of my informal talk before the Investment Bankers Association. I have corrected it in a general way for the purpose you have in mind. I would appreciate it if you could send me copies of it in case you make use of it, and if you also have a copy of the entire text as taken down by the reporter that you could spare, I would like to have that. Thanking you for your courtesy, I am Sincerely yours, M. S. Eccles, Chairman. Enclosure ET:b Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Investment Bankers A ssociation of A merica GOVERNORS GOVERNORS PRESIDENT DONALD 1.McLEOD TORONTO DUDLEY F. BAKER DENVER JAY N.WHIPPLE CHICAGO PAT G. MORRIS CHICAGO WILLIAM BAYNE BOSTON VICE PRESIDENTS FREDERIC P.MULLINS PITTSBURGH FREDERIC J.BLANCHETT SEATTLE MAYNARD H.MURCH CLEVELAND JOHN E. BLUNT, 3 — CHICAGO ARTHUR C.ALLYN CHICAGO AUGUSTUS W. PHELPS NEW YORK WILLIAM H. BRAND MILWAUKEE ALBERT T. ARM ITAGE BOSTON ALBERT H.GORDON NEW YORK A.E.PONTING SAN FRANCISCO ERROL E. BUCKNER NEW ORLEANS JOHN CLIFFORD FOLGER WASHINGTON EDWARD HOPKINSON, JR. PHILADELPHIA WILLIAM J. PRICE.3as BALTIMORE HAGOOD CLARKE ATLANTA ST. LOUIS JULIEN H.COLLINS CHICAGO EXECUTIVE SECRETARY & TREASURER JAMES F. OUIGG ROBERT G. ROWE PHILADELPHIA FAIRMAN R.DICK NEW YORK ALDEN H. LITTLE CHICAGO RUSH S.DICKSON CHARLOTTE WILLIAM O. SKILLMAN DALLAS HENRY H.EGLY NEW YORK FIELD SECRETARY EDUCATIONAL DIRECTOR F. KENNETH STEPHENSON NEW YORK NEW YORK F. D. FARRELL KANSAS CITY ARTHUR G.DAVIS CHICAGO DAVID DILLMAN CHICAGO PERCY M. STEWART JOHN S. FLEEK CLEVELAND R. McLEAN STEWART NEW YORK LLOYD S.GILMOUR NEW YORK MUNICIPAL SECRETARY SECRETARY WINTHROP E.SULLIVAN CHICAGO ARNOLD GRUNIGEN.JR. SAN FRANCISCO DUDLEY C.SMITH CHICAGO ROBERT STEVENSON,3S£ CHICAGO JOSEPH T.WALKER.JR. BOSTON WILLIAM H.Y. HACKETT BOSTON T. JOHNSON WARD PHILADELPHIA JOHN D. HARRISON NEW YORK ASSISTANT SECRETARY PHILIP K.WATSON DETROIT GEORGE E.JONES LOS ANGELES MARY R. LINCOLN CHICAGO ELMER L.WILLIAMS MINNEAPOLIS 1. A.LONG ST. LOUIS ROBERT N.WILLIAMS SPOKANE CHICAGO JOHN S.LOOMIS HARRY B. WYETH, JR. LOS ANGELES STANLEY G.McKlE CINCINNATI OFFICE OF THE EDUCATIONAL DIRECTOR 33 SOUTH CLARK STREET CHICAGO November 19, 1942 Hon. Marriner S. Eccles, Chairman, Board o f Governors, Federal Reserve System, Washington, D.C. Dear Mr. Eccles - The original plan urns to get a magazine out immediately and thinking that you would be receiving a printed version so soon I did not bother to acknowledge receipt of the revisions you made on the highlights we picked up from your talk. As it works out, we are taking a little time, with the thought that the nature of the December-January drive w ill shape up soon enough so that we can have a story on it also. I did not want to let more time elapse without thanking you for going over the copy and getting it back to us so promptly. Sincerely yours, Educational Director DiD H Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis Investment Bankers A ssociation ofA merica GOVERNORS PRESIDENT GOVE DONALD 1.MCLEOD TORONTO DUDLEY F. BAKER DENVER JAY N.WHIPPLE CHICAGO PAT G. MORRIS CHICAGO WILLIAM BAYNE BOSTON VICE PRESIDENTS PITTSBURGH FREDERIC J. BLANCH ETT SEATTLE FREDERIC P. MULLINS JOHN E.BLUNT,3as CHICAGO ARTHUR C.ALLYN CHICAGO MAYNARD H.MURCH CLEVELAND WILLIAM H. BRAND MILWAUKEE ALBERT T. ARM ITAGE BOSTON ALBERT H.GORDON NEW YORK AUGUSTUS W. PHELPS NEW YORK A.E.PONTING SAN FRANCISCO ERROL E. BUCKNER NEW ORLEANS JOHN CLIFFORD FOLGER WASHINGTON EDWARD HOPKlNSON,JR.PHILADELPHIA HAGOOD CLARKE ATLANTA WILLIAM J. PRICE.355 BALTIMORE JULIEN H.COLLINS CHICAGO EXECUTIVE SECRETARY & TREASURER JAMES F. OUIGG ST. LOUIS PHILADELPHIA FAIRMAN R .DICK NEW YORK ALDEN H. LITTLE CHICAGO ROBERT G. ROWE RUSH S.DICKSON CHARLOTTE WILLIAM O. SKILLMAN DALLAS HENRY H.EGLY NEW YORK FIELD SECRETARY EDUCATIONAL DIRECTOR F. KENNETH STEPHENSON NEW YORK F. D. FARRELL KANSAS CITY ARTHUR G.DAVIS CHICAGO DAVID DILLMAN CHICAGO PERCY M. STEWART NEW YORK JOHN S. FLEEK CLEVELAND R. MeLEAN STEWART NEW YORK LLOYD S . GILMOUR NEW YORK MUNICIPAL SECRETARY SECRETARY WINTHROP E.SULLIVAN CHICAGO ARNOLD GRUNIGEN, JR. SAN FRANCISCO DUDLEY C. SMITH CHICAGO ROBERT STEVENSON,3SB CHICAGO JOSEPH T.WALKER. JR. BOSTON WILLIAM H.Y. HACKETT BOSTON T. JOHNSON WARD PHILADELPHIA NEW YORK ASSISTANT SECRETARY JOHN D. HARRISON PHILIP K.WATSON DETROIT LOS ANGELES GEORGE E.JONES MARY R. LINCOLN CHICAGO ELMER L.WILLIAMS MINNEAPOLIS ST. LOUtS 1.A.LONG ROBERT N.WILLIAMS SPOKANE JOHN S.LOOMIS CHICAGO HARRY 8. WYETH, JR. LOS ANGELES STANLEY G. Me KIE CINCINNATI OFFICE OF THE EDUCATIONAL DIRECTOR 33 SOUTH CLARK STREET CHICAGO December 12, 1942 Hon. Marriner S. Eccles, Chairman Board o f Governors Federal Reserve System Washington, D.C. Dear Mr. Eccles - I wrote you saying that we had held up the issue of INVEST­ MENT BANKING that would contain the War Finance Conference story in order to get in a pieoe about the present drive and circulate it to our members at a time when i t would have it s maximum value as a stimulant. In any event, a copy of the magazine is attached and also a copy of the notes of your remarks as taken down by the official re­ porter . Thank you very much for being so cooperative in all this. Sincerely yours, Educational Director DD H ends Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis December 15# 2.94^• Mr. David Dillman, Educational Director, Investment cankers Association of America, 33 South '•'lark Street, Chicago, Illinois. Dear Mr. Dillman: This is to acknowledge your letter of December I k enclosing the copies of Investment Banking containing my extemporaneous remarks at the War finance Conference. Thank you for send­ ing them to me and for the stenographic copies. Sincerely yours, M. S. Eccles, Chairman. ET:b Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis.