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TELEGRAM Board of Governess of tbt Federal Reserve System Leased Wire Service T, . 1 t»i i • i Tin \Q/,Z MAV O C m» /- VT\J MAY <:;> Eeceived at Washington, D.O. PM 6 "' ° WA23G04WASH 152 MPLS 25-455 CHAIRMAN ECCLES - BOARD AT PEYTON'S REQUEST I REPORT THAT ON W S m m THURSDAY EVENING MAY 20 DR ODEGARD AND ANOTHER WASHINGTON REPRESENTATIVE OF WAR SAVINGS DIVISION ADDRESSED Si ATE ADMINISTRATORS AND CHAIRMEN OF PAYROLL SAVINGS DIVISION FROM LARGER CITIES IN THIS AREA COVERING NORTH AND SOUTH DAKOTA NEBRASKA IOWA MINNESOTA AND WISCONSIN. DURING HIS DISCUSSION IN ANSWER TO A SPECIFIC QUESTION AS TO WHETHER PAYROLL SAVINGS CAMPAIGN PROPOSED TO START ON JUNE 14 WOULD CONFLICT WITH SIMILAR ACTIVITY PROPOSED BY PRESIDENT LEEDY OF KANSAS CITY THROUGH ONE OF HIS REGIONAL MEN DR OICGARD STAfES THAI EITHER PRESIDENT LEEDY WOULD BE OUT OR THE STATE ADMINISTRATOR WOULD BE OUT AND THAT DEFINITE DECISION WOULD RE REACHED WITHIN A WEEK. HE SAID THERE HAD BEEN A MEETING OF FEDERAL RESERVE PRESIDENTS WITH m * X TREASURY DEPARTMENT AT WHICH NO m m & m DECISION WAS REACHED BUT THAT HARSH WORDS HAD BEEN EXCHANGED ON BOTH SIDES, HE SAID SECRETARY MORGENTHAU WOULD BE IN NEW YORK ON FRIDAY MAY 21 TO CONFER WITH PRESIDENT SPROUL AND THAT SOME DEFINITE DECISION WOULD BE REACHED WITHIN A WEEK 0 R PRESTON, VICE PRESIDENT.
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