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InvestmentBankers A ssociation ofA merica ORS GO VER N C )RS DENVER WILLIAM BAYNE BOSTON FREDERIC J.B LAN C H E TT JOHN E. BLUNT, 3^2 WILLIAM H. BRAND ERROL E. BUCKNER NEW ORLEANS ATLANTA JULIEN H.COLLINS CHICAGO RUSH S.DICKSON HENRY H.EGLY F. D. FARRELL JOHN S. FLEEK LLOYD S. GILMOUR JOHN D. HARRISON GEORGE E.JON ES KANSAS CITY NEW YORK JOHN CLIFFORD FOLGER WASHINGTON NEW YORK EDWARD HOPKlNSON, JR. PHILADELPHIA A . E . PONTING ROBERT G. ROWE CHICAGO BALTIMORE ST. LOUIS PHILADELPHIA DALLAS WILLIAM O.SKILLMAN E D U C A TIO N A L D IR E C TO R F IE LD S E C R E TA R Y ARTHUR G.DAVIS CHICAGO DAVID DILLMAN CHICAGO CHICAGO NEW YORK PERCY M. STEWART NEW YORK R. MeLEAN STEWART NEW YORK S ECR ETAR Y WINTHROP E.SULLIVAN ROBERT STEVENSON,3S£ CHICAGO JOSEPH T. WALKER. JR. M UN ICIPAL S E C R E T A R Y DUDLEY C.SMITH F. KENNETH STEPHENSON T. JOHNSON WARD A S S IS T A N T S E C R E T A R Y PHILIP K.WATSON CHICAGO MARY R. LINCOLN ELMER L.WILLIAMS DETROIT MINNEAPOLIS SPOKANE LOS ANGELES 3 3 SO U TH CLARK S T R E E T CH ICAG O November 3 , 1942 Hon. M arriner S. E c c le s , Chairman, Board, o f Governors o f th e Federal R eserve System, V/ashington, D. C. Dear Mr. E c c le s For th e purpose o f a condensed v e r s io n o f the War Finance Conference we are p u b lish in g in the INVESTMENT BANKING now in p r e p a ra tio n ,a few o f the h ig h lig h t s o f your remarks have been l i f t e d from the r e p o r t e r 's t r a n s c r ip t . A copy o f the t e x t qu otin g you i s a tta c h e d . I hope i t in no way d i s t o r t s your meaning. N a tu ra lly , i f i t does or i f th ere a re any changes you would li k e t o have made, w i l l you sim ply note than on t h is copy and a ir m a il i t back t o u s . Educational Director BOSTON PHILADELPHIA ROBERT N.WILLIAMS O F F IC E OF T H E EDUCATIONAL DIRECTOR S in c e r e ly y o u r s , CHICAGO HARRY B. WYETH, JR. CINCINNATI DD H end SAN FRANCISCO JAMES F. OUIGG a TR EA S U R ER ALDEN H. LITTLE NEW YORK ST. LOUtS NEW YORK AUGUSTUS W. PHELPS WILLIAM J. PRICE.35° E X E C U T IV E S E C R E T A R Y LOS ANGELES CHICAGO CLEVELAND MAYNARD H.MURCH ALBERT H.GORDON BOSTON JOHN S.LOOMIS BOSTON CLEVELAND 1. A. LONG STANLEY G. Me KIE CHICAGO ARTHUR C.ALLYN ALBERT T. ARM ITAGE PITTSBURGH FREDERIC P.MULLINS CHARLOTTE ARNOLD GRUNIGEN,JR. SAN FRANCISCO WILLIAM H.Y. HACKETT V IC E P R E S ID E N T S NEW YORK NEW YORK CHICAGO PAT G. MORRIS CHICAGO MILWAUKEE TORONTO DONALD 1.McLEOD CHICAGO JAY N.WHIPPLE SEATTLE HAGOOD CLARKE FAIRMAN R. DICK GO VER N O I 3S GOVE PRESIDENT PRES ID EN T DUDLEY F. BAKER November 5, 19A^« Mr. David Dillman, Educational Director, Investment Bankers Association of Am erica, 33 South Clark Street, Chicago, Illinois. Dear Mr. Dillman: This is to acknowledge your letter of November 3 enclosing a reporter's transcript of part of my informal talk before the Investment Bankers Association. I have corrected it in a general way for the purpose you have in mind. I would appreciate it if you could send me copies of it in case you make use of it, and if you also have a copy of the entire text as taken down by the reporter that you could spare, I would like to have that. Thanking you for your courtesy, I am Sincerely yours, M. S. Eccles, Chairman. Enclosure ET:b Investment Bankers A ssociation ofA merica DENVER WILLIAM BAYNE BOSTON FREDERIC J.B LAN C H E TT JOHN E. BLUNT, 3 — WILLIAM H. BRAND ERROL E. BUCKNER NEW ORLEANS ATLANTA CHICAGO HENRY H.EGLY F. D. FARRELL JOHN S. FLEEK LLOYD S.GILMOUR KANSAS CITY JOHN D. HARRISON GEORGE E.JON ES JOHN CLIFFORD FOLGER WASHINGTON ST. LOUIS CHICAGO NEW YORK EDWARD HOPKINSON, JR. PHILADELPHIA NEW YORK AUGUSTUS W. PHELPS A.E.PONTING SAN FRANCISCO WILLIAM J . PRICE.3as ROBERT G. ROWE CHICAGO ALDEN H. LITTLE BALTIMORE ST. LOUIS JAMES F. OUIGG PHILADELPHIA DALLAS WILLIAM O. SKILLMAN EDUCATIONAL DIRECTOR FIELD SECRETARY ARTHUR G.DAVIS CHICAGO CHICAGO DAVID DILLMAN F. KENNETH STEPHENSON PERCY M. STEWART R. McLEAN STEWART SECRETARY WINTHROP E.SULLIVAN ROBERT STEVENSON,3S£ CHICAGO JOSEPH T.WALKER.JR. MUNICIPAL SECRETARY DUDLEY C.SMITH CHICAGO T. JOHNSON WARD ASSISTANT SECRETARY PHILIP K.WATSON CHICAGO MARY R. LINCOLN ELMER L.WILLIAMS CHICAGO BOSTON PHILADELPHIA DETROIT MINNEAPOLIS SPOKANE LOS ANGELES 3 3 S O U TH CLARK S T R E E T CH ICAG O November 19, 1942 Hon. Marriner S. E ccles, Chairman, Board o f Governors, Federal Reserve System, Washington, D.C. Dear Mr. Eccles The origin al plan urns to get a magazine out immediately and thinking that you would be receiving a printed version so soon I did not bother to acknowledge receip t o f the revisions you made on the highlights we picked up from your ta lk . As i t works out, we are taking a l i t t l e time, with the thought that the nature o f the December-January drive w ill shape up soon enough so that we can have a story on i t a ls o . I did not want to le t more time elapse without thanking you fo r going over the copy and gettin g i t back to us so promptly. Educational Director NEW YORK NEW YORK ROBERT N.WILLIAMS O F F IC E OF T H E EDUCATIONAL DIRECTOR Sincerely yours, NEW YORK HARRY B. WYETH, JR. CINCINNATI DiD H CLEVELAND MAYNARD H.MURCH CHICAGO ALBERT H.GORDON EXECUTIVE SECRETARY & TREASURER NEW YORK LOS ANGELES JOHN S.LOOMIS BOSTON BOSTON 1. A.LONG STANLEY G.McKlE ARTHUR C.ALLYN ALBERT T. ARM ITAGE CLEVELAND NEW YORK CHICAGO PITTSBURGH FREDERIC P.MULLINS CHARLOTTE ARNOLD GRUNIGEN.JR. SAN FRANCISCO WILLIAM H.Y. HACKETT VICE PRESIDENTS NEW YORK NEW YORK TORONTO DONALD 1.McLEOD CHICAGO PAT G. MORRIS CHICAGO MILWAUKEE JULIEN H.COLLINS RUSH S.DICKSON JAY N.WHIPPLE SEATTLE HAGOOD CLARKE FAIRMAN R.DICK GOVERNORS PRESIDENT GOVERNORS DUDLEY F. BAKER Investment Bankers A ssociation ofA merica GOVERNORS PRESIDENT DUDLEY F. BAKER DENVER WILLIAM BAYNE BOSTON FREDERIC J . BLANCH E TT ERROL E. BUCKNER VICE PRESIDENTS NEW ORLEANS HAGOOD CLARKE ATLANTA JULIEN H.COLLINS CHICAGO ALBERT T. ARM ITAGE NEW YORK HENRY H.EGLY KANSAS CITY F. D. FARRELL NEW YORK E D W A R D H O P K lN S O N ,J R .P H IL A D E L P H IA NEW YORK LLOYD S . GILMOUR ARNOLD GRUNIGEN, JR. SAN FRANCISCO WILLIAM H.Y. HACKETT GEORGE E.JO N ES ARTHUR G.DAVIS DAVID DILLMAN CHICAGO CHICAGO DUDLEY C. SMITH LOS ANGELES CHICAGO PERCY M. STEWART NEW YORK R. MeLEAN STEWART NEW YORK ROBERT STEVENSON,3SB CHICAGO JOSEPH T.WALKER. JR. T. JOHNSON WARD ASSISTANT SECRETARY PHILIP K.WATSON CHICAGO MARY R. LINCOLN ELMER L.WILLIAMS SPOKANE CLARK S T R E E T December 12, 1942 Hon. Marriner S. E ccles, Chairman Board o f Governors Federal Reserve System Washington, D.C. Dear Mr. E ccles I wrote you saying that we had held up the issue o f INVEST MENT BANKING that would contain the War Finance Conference story in order to get in a pieoe about the present drive and circu la te i t to our members at a time when i t would have i t s maximum value as a stimulant. In any event, a copy o f the magazine is attached and also a copy o f the notes o f your remarks as taken down by the o f f i c i a l re porter . Thank you very much fo r being so cooperative in a l l t h is . Educational D irector DETROIT MINNEAPOLIS LOS ANGELES CH IC AG O Sincerely yours, BOSTON PHILADELPHIA ROBERT N.WILLIAMS O F F IC E O F T H E E D U C A TIO N A L D IR E C T O R 3 3 SOUTH CHICAGO HARRY 8. WYETH, JR. CINCINNATI DD H ends DALLAS NEW YORK WINTHROP E.SULLIVAN CHICAGO JOHN S.LOOMIS ST. LOUIS PHILADELPHIA F. KENNETH STEPHENSON SECRETARY MUNICIPAL SECRETARY ST. LOUtS STANLEY G. Me KIE BALTIMORE WILLIAM O. SKILLMAN EDUCATIONAL DIRECTOR FIELD SECRETARY NEW YORK 1.A.LONG SAN FRANCISCO ROBERT G. ROWE CHICAGO ALDEN H. LITTLE BOSTON JOHN D. HARRISON A.E.PONTING JAMES F. OUIGG CLEVELAND JOHN S. FLEEK NEW YORK AUGUSTUS W. PHELPS WILLIAM J. PRICE.355 EXECUTIVE SECRETARY & TREASURER CHARLOTTE RUSH S.DICKSON CLEVELAND MAYNARD H.MURCH ALBERT H.GORDON BOSTON JOHN CLIFFORD FOLGER WASHINGTON NEW YORK FAIRMAN R .DICK CHICAGO PITTSBURGH FREDERIC P. MULLINS CHICAGO ARTHUR C.ALLYN CHICAGO MILWAUKEE TORONTO PAT G. MORRIS SEATTLE JOHN E.BLUNT,3as WILLIAM H. BRAND GOVE DONALD 1.MCLEOD CHICAGO JAY N.WHIPPLE December 15# 2.94^• Mr. David Dillman, Educational Director, Investment cankers Association of America, 33 South '•'lark Street, Chicago, Illinois. Dear Mr. Dillman: This is to acknowledge your letter of December Ik enclosing the copies of Investment Banking containing my extemporaneous remarks at the War finance Conference. Thank you for send ing them to me and for the stenographic copies. S in c e r e ly y o u rs , M. S. E c c le s , Chairman. ET:b
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