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FRANCIS L. WHITMARSH, Vice-President SAMUEL D. LEIDESDORF, Treasurer THOMAS JEFFERSON MILEY, Secretary NEAL DOW BECKER, President HERBERT L. CARPENTER, Vice-President ALLA*4 M. POPE, Vice-President COMMERCE AND INDUSTRY A S S O C I A T I O N OF NEW Y O R K INCORPORATED Organized in 1897 as The Merchants' Association of New York 233 BROADWAY • W O O L W O R T H Cable Address B U I L D I N G • N E W YORK 7, N . Y. C O M I N D A S S N • Telephone Rector 2-5200 March 30, 1945 Hon* Marriner S# Eccles, Chairman Board of Governors Federal Reserve System Washington 25, D*C. My dear Chairman: Would you kindly send to me at your earliest convenience a copy of your statement before the Senate Committee on Banking and Currency regarding the imposition of a capital gains tax to curb rising prices of capital values, as well as a copy of your statement of clarification issued on March 3, 1945. Sincerely yours MWZ:MMD B O A R D OF F. J. ANDRE, President Sheffield Farms Co., Inc. BRUCE BARTON, Pres., Batten, Barton, Durstine & Osborn, Inc. NEAL DOW BECKER, President, Intertype Corporation LUCIUS BOOMER, President, Hotel Waldorf-Astoria Corp. WILLIS H. BOOTH, Chairman of Board, Sierra Talc Co. WILUAM C. BREED, Breed, Abbott & Morgan W . GIBSON CAREY, JR., Pres., The Yale & Towne Mfg. Co. HERBERT L. CARPENTER, Pres., Carpenter Container Corp. LOUIS K. COMSTOCK ROBERT W . DOWLING, President, City Investing Company DIRECTORS VICTOR EMANUEL, President, The Aviation Corporation THOMAS S. HOLDEN, President, F. W. Dodge Corporation WALTER HOVING, President, Lord & Taylor FRED I. KENT, Director, Bankers Trust Company CLARENCE L. LAW, Vice-President, Consolidated Edison Co. of New York, Inc. SAMUEL D. LEIDESDORF, S. D. Leidesdorf & Company GERALD LE VINO, Vice President, Guiterman Company, Inc. JOHN LOWRY, President, John Lowry, Inc. JEREMIAH D. MAGUIRE, Chairman of Board Federation Bank and Trust Co. WILLIAM FELLOWES MORGAN, JR., Chairman of Board Brooklyn Bridge Freezing & Cold Storage Co. CARLETON H. PALMER, Chairman of Board, E. R. Squibb & Sons LEWIS E. PIERSON, Director, Shell Union Oil Corporation ALLAN M. POPE, President, The First Boston Corporation LAURENCE ARNOLD TANZER, Tanzer & Mullaney STEPHEN F. VOORHEES, Voorhees, Walker, Foley & Smith THOMAS J. WATSON, President, International Business Machines Corporation JOHN K. WHITAKER, President, Hesslein & Co., Inc. FRANCIS L. WHITMARSH, President, Francis H. Leggett & Co. April 1945 Mr. M. William ¿ucker, Assistant Director of Research, Commerce arid Industry Association of New York, Inc., 233 Broadway, New York 7> New York, Dear Mr. ¿ucker: This is to acknowledge your letter of March 30 addressed to Chairman Eccles, who is temporarily out of the city. I regret that we do not have copies of his testimony before the benate Banking and Currency Committee to which you refer. These may be obtained directly from the Committee when printed. I am, however, enclosing a copy of Mr. Eccles1 explanatory statement with regard to the proposed capital gains tax which you also requested. Sincerely yours, Elliott Thurston, Assistant to the Chairman. Enclosure
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