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Jtoly 6 , 1957 Mr. A. P. Giannini Bank of America. San Francisco, California Oaar Mr. Giannini: It rae very thoughtful of you to send mm the clipping from the July 1 Call-Bulletin in which there is a write-up of the mid-year report of Bank of America. The comments were very interestlag, particularly those which yon had underlined. It is particularly gratifying that more than $5 million has been added to the capital structure of the bank within the last year. I do not see how anyone could criticise a performance of this kind. Equally interesting to me was the striking increase in the loans. It is no easy task to increase the loan portfolio in these days when merchants, jobbers and manufacturers demand very little bank credit. It shows that you are developing all available sources for loans and it is my opinion that banks generally will realize the necessity of such a program in order to nake satisfactory earnings* With kindest regards, I an lours sincerely, Laurence Clayton LC/fgr This article is protected by copyright and has been removed. The citation for the original is: San Francisco Call-Bulletin, “Stocks Rest After Spirited Advance: Bank America Loans Gain,” July 1, 1937, p. 23.
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