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SERVICE
WASHINGTON

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IRS
FEDERAL RESERVE SYSTEM

MARRINER ECCLES, BOARD OF GOVERNORS OF FEDERAL
RESERVE SYSTEM
DALE DISTRIBUTING COMPANY, INC. OF WHICH I AM PRESIDENT, ARE

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WHOLESALE DISTRIBUTORS OF NATIONALLY ADVERTISED REFRIGERATORS

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WASHING MACHINES, RADIO AND TELEVISION RECEIVERS AND OTHER

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MAJOR APPLIANCES. WE OPERATE COMPLETE BRANCHES IN NEW HAVEN,

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CONNECTICUT AND NEWARK, NEW JERSEY. ANNUAL JMliL'H VOLUME IN

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THOSE TWO TERRITORIES APPROXIMATELY SIX MILLION DOLLARS.

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WITH THE POSSIBLE EXCEPTION OF TELEVISION, SINCE THE
REINSTATEMENT OF REGULATION "W" THE MOVEMENT OF THESE

W O COMMODITIES FROM DEALERS' FLOORS TO CONSUMERS' HANDS HAS
CftZ DROPPED TO A DEGREE THAT IS FRIGHTENING. IN ALMOST EVERY

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INSTANCE, IT IS THE MATURE JUDGMENT OF THE RETAILERS WHOM WE
SERVE THAT THIS SERIOUS DROP IN SALES IS A RESULT OF CREDIT

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TERMS THAT ARE TOO STRINGENT TO SUPPORT PRESENT PRODUCTION

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RATE TO WHICH OUR INDUSTRY IS GEARED, THIS IS NOT A FORM
THAT YOU MIGHT RECOMMEND FURTHER STUDY OF THE EFFECT THAT
TELEGRAM AND m&X
IS BEING DIRECTED SOLELY TO YOU IN THE HOPE
REGULATION MW" IS HAVING ON OUR INDUSTRY, AND IF CONDITIONS

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WARRANT, MIGHT SPONSOR AN EASEMENT OF THE PRESENT SELLING

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TERMS

MAURICE S DESPRES 40 E 32ND ST NEW YORK NY
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194-9 •

Mar* Maurice S*
40 S»- 32rd Street,
Tor&$ Scnr lork.
Dear Mr* D#spress
lour imry ©arrsast aad t<3sp©rat& telegnm of
January 26 with regard to Hagulation ¥ i s being
to tiss ooar^ B^wbi^?# Mr» lafstus* i^ios® as-^i
this
1 waated you to koov that I appreeiated the
epirit in uhleh you state your rtenm aid that thoy
ham earjaeat consideration. Congress inte&ded t h i s t o
lie a fjUadlble regulation and, sp^aklag for EQraeli1,
1 vmLd Bot idUAl to see i t coatim^d i f t l ^ r e i s a
sad a lowering of prioes # Cte tlia other
sot -want to see i t pr@matare2y relassd or
We ar© giviag i t the most thorough possible

yours.

•Ct




M A U R I C E
4O

EAST

S.

D E S P R E S

32ND

STREET

N E W

Y O R K

16,

N.

February k$ ±9h9

Mr, M. S . Eccles
Board of Governors
Federal Reserve System
Washington, D. C»
Dear Mr. Eccles:

I want to express my thanks to you for the courteous
letter of January 28 in which you acknowledged receipt
of my telegram of the 26th»
I am genuinely appreciative of your consideration.
Sincerely,

X
Maurice S, Despres
MSD:s




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