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THE LABOR BUREAU, \i f r e d L . B e r n h e i m o a r a B e r n h e im S t u a r t C h ase I „a T 3 R y n f e n n S. B. l e w i n F ^ELLE SHRIFTE 1GE SOULE Jb. ^ÜEL STEIN Norm an W are In c . M id d l e W e st La b o r B u r e a u 1 1 S o u t h L a S a l l e St r e e t , C h i c a g o 2 WEST 43D STREET, NEW YO RK CITY P a c ific C oa st L a b o r B u rea u 525 M a r k e t s t r e e t , San F r a n c is c o TELEPHONE, LONGACRE 5 -4 2 2 9 »2 7 May 22, 1936 Mr. M. S. Eccles Board of Governors Federal Reserve System Washington, D. C. Dear Mr. Eccles: Thank you for the speech before the American Bankers Association. I thought it the most admirable summary of the Administrations policy and the actual results achieved which I have yet seen. With best wishes, Sincerely,