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246 BOARD OF G O V E R N O R S • F THE FEDERAL RESERVE SYSTEM WASHINGTON S-276 A D D R E S S OFFICIAL C O R R E S P O N D E N C E TO THE BOARD July 22, 1941 Dear Sir: Enclosed you will find a copy of a letter, dated July 18, addressed to the Board of Governors ty the Honorable James V. Forrestal, Acting Secretary of the Navy, and a copy of the Board's reply thereto, requesting the Federal Reserve Banks and branches to make available to Naval officials confidential information in connection with the financial condition and reputation of the management of ship repair and ship building yards. In all probability you will be visited by Inspector of Naval Material, Supervisors of Shipbuilding, and Commandants of Naval Districts, requesting this information. Your cooperation will be much appreciated. Very truly yours, Chester Morrill Secretary. Enclosures 2 TO THE PRESIDENTS OF ALL FEDERAL RESERVE BANKS 8-276DEPARTMENT OF THE NAVf Office of the Under Secretary Washington July 18, 1941 Gentlemen: It becomes frequently necessary for the Navy Department to obtain confidential information in connection with the financial ability and reputation of the management of certain ship repair and shipbuilding yards throughout the continental limits of the United States. This information is used in determining whether or not the Department is justified in awarding contracts to such yards for the construction or repair of Naval vessels. The Department would appreciate the Board of Governors making available to Inspectors of Naval Material, Supervisors of Shipbuilding and Commandants of Naval Districts the services of the Federal Reserve Banks and branches in obtaining this confidential information upon application of these local representatives. Very truly yours, (Signed) Forrestal Acting Secretary of the Navy Board of Governors, Federal Reserve System, Washington, D. C. S-276-b July 22, 1941 Honorable James V, Fprrestal, Acting Secretary of the Navy, Washington, D. C. Dear Mr. Forrestal; This refers to your letter of July IB in which you request the Board of Governors to make available to Inspectors of Naval Material, Supervisors of Shipbuilding, and Commandants of Naval Districts the services of the Federal Reserve Banks and branches in obtaining confidential information respecting the financial•ability and reputation of the management of certain ship repair and ship building yards throughout the continental United States. It is the desire of the Board of Governors to be of every possible assistance to the Navy Department in the National Defense Program and it is today asking the Federal Reserve Banks to furnish the confidential information upon request of the above representatives of the Navy Department. Very truly yours, (Signed) Chester Morrill Chester Morrill, Secretary.
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