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Sears,Roebuck and Co.
Executive Offices



March 1 5 , 1958.

Hon. M. S. Eccles, Chairman,
Board of Governors of the
Federal Reserve System,
Washington, D. C.

Dear Gov. Eccles:
I understand there is a vacancy
on the Board of Governors in the New York Federal
Reserve District.
I should like to suggest for this
position the name of a man whom I have known for a
number of years, a man whom I think would be a good
one for the position - Mr, W. D. FlandersHe is
now acting as Assistant to Mr. Stewart McDonald.
Mr. Flanders used to be vice-president and general
sales manager of the old Congoleum Company; then
he went into the financing business and was connected with the Commercial Credit Company. He has
a thorough knowledge of the whole installment business and through his work v/ith Mr. McDonald has acquired a splendid knowledge of the Housing Act,
especially in its relation to financing. He has
a great deal of ability and I think would make a
very valuable man on the Board. I wish you would
give him consideration.

Sincerely yours,

Sears,Roebuck and Co.
Executive Offices

March 1 5 , 1938,

Hon. M. S. Eccles,
Chairman, Board of Governors,
Federal Reserve System,
Washington, D. C.
My dear Mr, Eccles:
I am having sent to you under
separate cover, for your information, copy of a
study made by our General Merchandise Office, showing prices on consumers1 goods items in the period
1923 to 1938. The prices shown are the catalogue
prices in the various years and represent the prices
actually paid by the consumer during those years.
So many indices and other studies are based on
wholesale prices that a study of actual retail
prices paid by the consumer might be of value.

Very truly yours,


March 19, 1958.

Mr. R. £• Wood, President,
Sears, Roebuck and Co,,
Chicago, Illinois.
^y dear General Wood:
This is to acknowledge jour two letters of
March 15th to Chairman Eccles, who is taking a
much needed respite for the next ten days* On his
behalf, however, I wanted to thank you for sending
us the study of consumer goods items from 1923 to
1958, which I aa asking Dr. Goldenweiser to analyze.
As you have doubtless since noted, Ernest G.
Draper has been nominated by the President to replace Mr* Broderick frosa the Hew York District.
Sincerely yours,

Elliott Thurston,
Special Assistant
to the Chairniem.