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BOARD

of

GOVERNORS

OF

THE

FEOERAl

RESERVE

SYSTEM

Bob Hinckley left this message:
All their newsmen were given to tinderstand that
Snyder felt the change was for the better —
that somehow they were given the idea of Eccles
being demoted (Leif Eid on National said that
as well as about Snyder).
American has instructed their men not to use the
demotion, that they are to say that it is most
unusual for a man of your experience, private and
world experience, to stay on the Board — to give
YOU the breaks.
He talked to Elmer Davis, who is flabergasted —
he is on at 7:15 and is going to tone his broad­
cast so as to indicate that you had no alternative
but to stay.
He is sending information tonight on Earl D.
Anderson — convinced he would be excellent man.
If you want to talk to him later he will be in
all evening at his apartment —
Eldorado 5-3100 Apt. 34-D