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2 WEST FORTY THIRD STREET NEW YORK BOX 97. GEORGETOW N CONN ECTICUT STUART CHASE TELEGRAPH ADDRESS REDDING LO NG ACRE 5 * 4 2 2 9 December 22, 1936 Ur. M. S. Eccles Federal Reserve System Washington, D. C. Dear Mr. Eccles: I read your talk to the New England Bank Management Conference with the greatest interest and attention. I congratulate you on a very lucid exposition of the spending-saving formula. when 1 have seen the matter more adequately stated. With all best wishes, SC/ss Dictated but not read I don’t know
@FedFRASER