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BOARD OF GOVERNORS OF' THE FEDERAL RESERVE SYSTEM R-874 WASHINGTON ADDRESS OFFICIAL CORRESPONDENCE TO THE BOARD August 23, 1941. Dear Sir: Information coming to my attention from the Office of Production Management indicates that during the month of July the Coordinators' offices at the Federal Reserve Banks and Branches had over 500 inquiries and conversations relating to the availability of credit. It is assumed that a substantial portion, at least, of the persons making such inquiries were referred to the Defense Contract officer at the respective Federal Reserve Banks and Branches. In order that we may have available information as to the nature of' these inquiries and the disposition made of them, it will be appreciated if you will forward to me at your earliest convenience a statement for the month of July setting forth: (1) Number of inquiries received by your Bank and each of your Branches, if any, from the Defense Contract Service office relating to: (a) (b) (c) Advances for working capital purposes Advances for fixed capital purposes Other financing matters (2) In the case of inquiries for working capital advances, which could not be granted by the Federal Reserve Bank, the number and amounts thereof and the reasons for unfavorable action. (3) Disposition made of inquiries for advances for purposes other than for working capital. •. R-874 - 2 - It will also be appreciated if you will send me a similar report covering inquiries received from outside sources, i.e •• other than throur,h the Defense Contract Service office. Will you also be good enough to send me reports similar to the above for August? Very truly yours, _p ~~ Ernest G. DrapL· TO THE PRESIDEN'J:S OF ALL FEDERAL RESERVE BANKS
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