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T H E N A T I O N A L CITY BANK O F C L E V E L A N D
CLEVELAND I , O H I O

February 12, 1951

SIDNEY B.CONGDON
PRESIDENT




The Honorable Marriner S. Eccles,
Member o f t h e Board o f Governors,
Federal Reserve System,
Washington, D. C•
Dear Mr* Eccles:
I n Mr. Gongdonfs absence, I am
acknowledging your l e t t e r t o him o f t h e
seventh, together w i t h statement by the
Department o f Economics o f t h e U n i v e r s i t y
of Chicago. I am sure t h a t he w i l l read
t h i s w i t h great i n t e r e s t when i t i s brought
t o h i s a t t e n t i o n upon h i s r e t u r n .
Very t r u l y yours,

Secretary t o Mr. Cong&on