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TO: Miss Adams Date: October 2, 1954* From: M. Burnett Subjact: Reports of Subcommittee on Destruction of records (in Corres. Files) the fMbral Rtse#?e £(yvteK Oomaittet that hat bai oilier -ccmtjisnitiig co»* 193-6 the r@t#iiti<m and d^ttriictioH of records in Mho la e*31*d th« ^imbeo^aiiite on Dostruetion of itooi^St11 It id' A #Goiraiitt@# on iise#llmn«otti •Oj^Jfattioni1* # whlefe in t urn -jreportri .to ^Gdnftranea of Preaidonbs of tilt PedorA Bts#rr# Banks/ fht Cteistton of ihs ^ibocwiiit^t Mtm to ha^a bt#n sueatisiirely lodged with the 1*Y# ^nk» Kasiea called froa reports on f l i t (possibly incomplete)! ,1936 GhadnHmt Louis F# Sailsr # 'and itmber^ W*S# Logan^f *Pfa## & Gen*l Counsels •l^lif ' CteJb^wnt I#S* Ii0gan# fertert H* Xlabell took charge of work i • nary to 'neeting of ConodLttee and was later Wk9) first two reports^ iistped In 1936 mud lfl^ # wste tmsi^* 1h®B® primeipl#s mid yeooBawndation-s for 3^t#rtioit of issued in 19U7$. 19h9 .and 1^5^, C^®» 8 ^ d Sept*.?) b are d0Eflne.i to •fisea! kgBTi®Y ^oortls! 'i*e«r govenrnsiit secaritles^ ®idmly savings bonds* fh#i# rtporfet ooao©i» operating roeofds and 'ham no- i n t e ^ s t foT historio purposes* A ** , - rtp^rt issued August 1 'sctte interest for na since i t describes. brtefljf 3 categories of r#eot€t • - eidexed 'lap^itsiji^iii foiwilmting a ^gurf^^Fi^ff ProgrRa* tbeee arer 1* a* fe'so'iilpti0ia of securities in'eafekeepingv b* Fn0si«!i#§ of accNiptas^ee wd omuiercial' pap@r''h#ld tm sc^otmt of others < 0«faesiaJi@0 of priaaij obligations & supporting1' o^lXatarai* d# Ikesinllee of authorised ®ipmt§#$^g of periber &'®m*mmk® Cy ani otiher penmnel. reoozds' ar# not elassliRLed i s vital* efforts shmild be wule t© arrmgt with the Brttrineiit %st#» for the re«» s of 4 b l ) nut t» Vital flieml Agtney Becoids* a# ei#tl»f bilamat 1B fmsoqr & fax loan aooounts* b* Statement of otonsignnefxt aecbtsttta* e # WitMimmia from tminsued stoek of "3* Otter important Becords* a, Xiimtas of tot teoari of tii»et®»£ ant^ attached estiiibits* b« Any policy doenmits of ocnparable inpog'ia&ee mijtt&iiitd^ia th# f l i t s of tfai Ch&in^a or President* e* Ihstumnee f^li^ittn i# aipertaiit omtmets to whiok tis* tonk i t ' th» toploa eoirtttd in the TarioMi rtpovta i hikH b l for f A i l up io^ J W y 1 , I f 3 6 t o b e mtdlfieft pentf«uniUar # iima# Sapxmotiaal t # A l t e r t h i s d a t e eacdi Bank f i f i t c o n e i d e r a i t dteaif&tel©# fihould j & i «#»aimt0 £ U a a f o r ( I ) leratlfte oorn^poiMiMkeei* B i i t r o y a f t e r (8) Ail otter to be tept p f ^ ato# f©l@grams# the aaiaa«- ^Bd ^ from oittaida^** a t dlso^itioE of the s t a t i s t i c a l ftmotioii* or Giw»re# # Betal» 3 ytam or until in printed f e n * «f 10 i f not aTHilabls l a t e r ia priiAei form*' Pttbli® mmr&B, # # g # »#wspa^r0 4 periodical** 'Keep for the t i n e needed for eutmmt rtf@r#iiat# Iten xvly an pablio i i b A l d t d C iiytalmrs Sent to mei^rliiite# Keep ofhiatorical intern at ^ t*g# l»ili®rty Loan p0at#n f ihotfld fee f to Trtwmiy Sept* % and after W#rld War I* Be Qader 3a0# of 'treaaury sfcat## w to mil profcmbility^ matter of this fa be £®rmMe& to the Traaauvgr Departaent*11 leoorda r#"clos#d banks • S@tai» ind@ftoit©ly« C&C0nsi<ter alter Baraoiiiial weoifds* Keap per«aaent3y information to ehovr history of a l l parsoms mt any tiro @^>loytd by the Banka« S h 4 § Aff»nt* Statistical, imports to b# retaliied- •** 9 eat#goritt listed to be kept pexmnentiyj i»0lndiag- 1 Debite* weekly^ monthly and armwd* data 011 addreraaa^ talks^ etc* ii periods culy for thoa© -i^eorcli inquiring the nost imbstantial wmoimt of storage if^at At -Fed* !#$# &^0# I t atteapt to ooEsidsr t11 ths'lmnttttenbla types of mmtdMm* BSCOKUI listed in attaohad idtoiite a oeempy eatljaated S09C of ttormp at moat ff B« Banlca^ assigned tor#oords f ^0«^tad#cl swrlsad g@n@ral prifieipiss & pi^oeeduraa (oTer 6) pdnda»ia# to be ratmined indefinitely^ e xeept roixtlne* tem ^inteflnita91 turns bean stdbstltuted fo* ^fte^^iasBt^ of W36 report $ 0i»e@ mime of meoPds imy dteiaiah with tioa & destraotiim be' justified under a later ctaeisioiu p of » 0 0 r i i t pros and cons* Cleveland Bk* has a definite program* fOi mm Admit Ifli! _ Ri^yfc^by *fatot H,» J t o t § on disposition of e#rteiE fisoal ag^ncgr mwjiS . ^OT^Si»d' t * J«avlag1 a fec^is * of 9paoo for at or tog them- bonds in W-#T» 'iank ' Recoimenciatdons 'ba^td om draft of schoididLe f«r d©itmietl0n of fiscal aipnay reeoMs which was approrad by Troairoxy Sept# • BnOy arraageaoat ittth fftaitny ^itiaii^Ati for o omtinmlug fotf dtefftraetloa' of » ^ r fisoaX agem^f i^cerds' B#W mtaiatd p ma riant or indefinite basis, Sxhitdt of mpmBBntm%irm types of / with 3*couNtnd*d »iidm^i tNrttaiiim perlod# Kit ^.Ma^nal relating t o disposal of if@e#Mt at ftdaml Ismod % th« SobcoKBiitiMMi on Bte*l # 1 ^ | | | 3 y for nateritfL nm 0baol#t# and for nwr TOeorda that- Jrt&tild )*» i t now ftmiyiaf MtaodMntii and liStes htirt tTtil#4 IJiraiseXtos of tilt p r i r i l a g t of deliroriBg to otrtain Ftdtiml ^001^1 Chratort i i i
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