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GENERAL CABLE
4 2 0

L E X I N G T O N

CORPORATION
A V E N U E

NEW YORK
DWIGHT R.G. PALMER
PRESIDENT

March 19, 1937

Hon. Marriner S. Eccles, Chairman,
Federal Reserve System,
15th Street & New York Ave.,
Washington, D. 0.
Dear Mr* JScclesJ
Your recent expressions in respect to the pyramiding of prices
and the potential re stilts therefrom were indeed most timely, and
I am certain that all sane businessmen most fully support your
point of view.
There is hardly any industry that can exclude itself from your
observations, and we, as large users of copper, a large portion
of which comes from your home state, have taken a position in
respect to the existing excise duty on copper. In the enclosed
copy of our brief we have attempted to cover the situation from
a number of angles, and if you should, during your buqy days,
find time to review it, and, further than that, can favor me
with your criticisms or suggestions, I would appreciate having
them, and, unless you advise to the contrary, will consider them
confidential and personal.
You may recall in connection with your early interests in the
Six Companies that we supplied the cables from Boulder Dam to
the City of Los Angeles, taking copper in equal quantities from
Arizona, Nevada and Utah, and fabricating the completed cable in
a new plant that we erected in the City of Los Angeles.




Respectfully,

April 5, 1937*

Br* Dwight
G* Palmer, President
Geaeral Cable Ctorpor&tion
420 Lexington Avenue
Sew York* *Iew Xork
Dear Mr* P&lmert
thank you for your cordial remarks regarding
ay repeat et&te&ent to the press• I genuinely appreciate
your e&eouragement and support*
Let me thank you especially, moreover* for
sending me your brief on the copper tax* Ky delay in
writing you has been occasioned by the desire to review
your points in detail; and I em now glad to eay, ©imply
in expreesing an opinion to you personally* that the
argument seems mtmewerable*




Sincerely yours,

B« S* Eeelea
MHB/nb

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