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TREASURY DEPARTMENT WASHINGTON May 10, 1935 Dear Governor: This will confirm ny telephone conversation to the effect tha.t there will be a meeting in Mr. Coolidge's office at 5:00 Pv»M# on Monday, May 13, 1935, to discuss the bank recapitalization program. You will recall that at the last meeting it was brought out that there were then 550 insured and undercapitalized banks .with $1,000,000,000 of deposits. Since 91 of these banks, with deposits of $200,000,000, had approved and feasible recapitalization plans, this leaves 259 banks vdth deposits of 0800,000,000 unprovided for. As $500,000,000 of this deposit volume lies in 18 banks, Mr. Coolidge deems" it advisable at this meeting to discuss each of those 18 cases. I am, therefore, enclosing a list of these banks showing the deposit volume. Very truly yours, C. B. Upham, Secretary, Interdepartmental Loan Committee. Encl. Governor M. S. Eccles, Federal Reserve Board, Washington, D. C,
@FedFRASER