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NORTHERN MINNESOTA NATIONAL RANK OF DULUTH DULUTH i, MINNESOTA LEWIS G. CASTLE PRESIDENT January 20, 1950 Mr. Marriner Eccles Federal Reserve System Federal Reserve Building Washington, D. C. Dear Marriner: The local Press has publicized the news that Albert C. Armstrong, President of the Northwestern State Bank of Duluth, is being reccomended as a candidate for membership on the Federal Reserve Board. It is presumed that they are seeking someone with a background of consumer credit experience as well as commercial banking, and in that field Mr. Armstrong has been outstanding for twenty-seven years. He is a friendly competitor and has operated a small State bank, but prior to the organization of the Northwestern State Bank he operated a Morris Plan Company institution in Duluth. He has been nationally identified in consumer credit work with the American Bankers Association and the Minnesota Bankers Association, as well as with the Morris Plan organizations. His age, which is 52 years, and his background of experience and pleasing personality really qualify him as a most desirable candidate for membership on the Federal Reserve Board, and I am therefore glad to commend him to those who may be scrutinizing his background of training. Since I am somewhat in a fog as to who should be approached in Washington circles to express my recommendations, I am taking the liberty of writing you to inform me just what groups will be responsible for his selection. I would like to lend a helping hand in support of his candidacy, and anything that you might write me concerning the various committees or groups which should be approached for the purpose of sponsoring Mr. Armstrong's name, I will appreciate exceedingly. I hope that your golf game continues to be such as to win an occasional pot at the Burning Tree Club on a Sunday morning. LGC:hal My cordial remembrances. Heart Lev/is G. Castle Ji.:iuary 26, 1950. Dear Levis: In response to your letter of January 20th vith reference to filling a vacancy on the Board, that is a matter vhich is entirely in the bands of the President. It is .is sole prerogative to make the appoiataeat, wit. continuation being required by the Senate nole after favorable action has been taken by the Senate Banking & Currency Committee. The President, no doubt, would be influenced in bit appointment by the recommendation of Chairman McCobe as well as by the Secretary of the Treasury, Mr. John Snyder. At least while I was Gbalraaftj I always found that to be tlM case. I •mve-'t discussed ; :Ls ,.:ati :;r with anyone as 1 do not feel it would be appropriate for Be to do so unless I aa asked. No doubt the Senators, particularly the Democratic Committee Chairmen and leader.. Sei •, would have great influence upon the appointaeat aba i I I ley intercede with the President. If you are interested in getting your friend Armstrong appointed o'i the Boarc], I would suggest that yoi write to Cnainaan McCf.be and Secretary Snyder, as veil as have t iat1 . up directly or indirectly with the Senators in your Federal Reserve District. It sight also be vail to discuss t i r nlH Ir. John Peyton, the President of your Federal deserve bank, :md gii is support if fo with C-iairjiun NeCahe and Secretary Snyder. I trust the above ^ives you the information you desire. The ber. If the end. I the pleasure laat tirae I pl&yed golf vas about the middle of Decempresent r keeps up I expect to play ov :• [ is weekto see you again in Vfasnin.jton before lo.aCi aad to have of playing golf with you. With kind personal regards, Sincerely yours, Mr. Levis G. Castle, President, Northern Minnesota National Bank, Duluth 1, Minnesota.
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