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April 3, 1945.

Mr. Robert M. Koeneke,
1402 Glendon Street,
Loa Angeles 24, California.
Dear Mr* Koeneke:
On behalf of Mr. Eccles who is on a visit in
the West, I wish to acknowledge receipt of yonii letter
of March 31» I enclose a copy of an explanatory statement, from which you will see that you are mistaken in
believing that the proposal with regard to the capital
gains tax would be confiscatory so far as any investor
is concerned. 1 also enclose a copy of a letter received from an army sergeant who has a somewhat different viewpoint from yours.
Sincerely yours,

Elliott Thurston,
Assistant to the Chairman.
Enclosures 2

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