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April 6, 1956. Mr. A. P Giannini The Breakers Pal® Beach, Florida dmnr Mr. Gianainit Replying to yours of the 4th, the Board has not yet gotten do? n to cares respecting the chairaan and agent at San Francisco, the ftilling of which posi tion will likewise fill the only vacancy in the el^ss C directors. I donft think Mr. McCarthy is available on the basis contemplated in the proposed plan of a part time chairman with only nominal salary. On the other hand, I think Mr. Stewart is certainly worthy of consideration and I am sure Hr. Eecles is aware of his qualifications. While it aight be well to have soase of Sr. Stewart*s friends send in some letters regarding his, you and I will no doubt agree that it rould be smart not to stress the support he has froa your organi sation. I anticipate that in any event his selection would give rise to the old rumors that Ec&les is tied up with you people and doing all he can to further the in terests of chain banking, etc. etc. Mr. Eccles is out west for a short vacation and will be back about April kOth. I ass hoping that the wara weather in Florida will soon push you northward and that you will be stopping in Washington before you go out west. With kindest regards, I am Yoars since eiy, Lawrence Clayton Assistant to the Chairman LC/fgr
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