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NEW HAVEN CHAPTER

AMERICAN INSTITUTE OF BANKING
1926-1927

SECTION' OF AMERICAN BANKERS ASSOCIATION

JOSEPH H. ALLEN, PRESIDENT
MERCHANTS NATIONAL BANK

WILLIAM G. CLEAVER, VICE-PRESIDENT
FIRST NATIONAL BANK

WALTER P. JOHNSON, SECRETARY
MECHANICS BANK

PHELPS LEWIS, TREASURER
MERCHANTS NATIONAL BANK

January lah, 1927

Uovernor Benjamin Strong
Federal Reserve Bank
New York City
My dear Mr. Strong:

Last year at our annual banquet,
and pleasure of hearing Yr. W. 2.
we had the honor
G. Harding, tiovernor of the Federal Reserve Bank of
3oston; as our association is gomprised, as you know,
of bank men, he brought to us a message which was
Lost interesting and helpful.
This year we would like to extend
cordial invitation to you to speak at our annual
banquet, which is to be held F bruarr 17th,at the
1 you could find
New Haven Lawn Club, this city.
the time to be with us on that night, we would appreciate it very much and,personally, I feel that it
would assure the success of our evening.

ra




With the
to arrange to be with us

that you may be able
ruary 17th, I am
truly,

JHAM




iir.I141011.1.;
*Altars /

,

T.,

January 14, .1g27

My dear Mr. Allen:

I re6ret to tel1 ou that Kr. trn nas been oblii;ed
to leave the city f,olloming, 6 recent severe illneee, and he All
not be here during the mouth of Fohruary.

It ill be impossible,

therefore, for him to address the annual banquet of the kmerican

Intit.ute of Bsraing,although I shall, of course, be happy to
convey to him your tbouzbtful invitation.
r. Stron. has A keen interest in, tbe .14ffaire of the

Ifietitute, but :::ircutettnces debar him from ttking a very active

part in ite ffaire.

In thie instance I wish to send tbie advice

at once, so tht,t you may not be delayed in securir. another eptaker
who Ail, I hope, asaure you of e suc..ctissful event% on Februt.ry
17.

Very truly yours,

Secretary to
Yr. Benj. Strone;.
Mr. Joseph H. Allen,

Presinent, American institute of Banking,
Merchants National 2ank,
Nei Haven, Conn.




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---

BOSTON CLEARING HOUSE,
CHARLES ARUGGLES,

mANAGER.

September 14, 1914
Mr. Benjamin Strong
0/0 Bankers Trust Company
New York City

Dear Sir;
A0now1edging your telegram of September 12 from

Woods Hole, I beg to enclose confirmation of telegram sent
to Governor

Hamlin this morning.

This

telegram had the

approval of foreign exchange interists in this city and also
of members of the

Clearing House Committee

Mr. Gaston whom I Was unable to

with

the exception of

reach..

respectfully,

Enclosure

P.

S. ,1 have since peen

President

Clearing House AssoCiation

Mr. Gaston and he agrees with

the others.

September 14, 1914.
O. SO Hamlin, Govermor

Federal Reserve Board
Wesbinatonk

C.

Banking interests hor,-, ver,7 Aronay urce the
pool alona lines proposod by ?organ cowittee. immediate formation of gold
They believe liewjork City
note transaction is tot 1-0.ie,4ta seneral exohame situation and that promot

relief ie nooessary.




Thonas P. Beal.




SEND THIS COPY TO
AUDITING DEPT

Thomas P. Beal, Esq.,
Second National Bank,

Sept. 14, 1914.

Boeton, Mass.
Federal Reserve Board has announced that eonclusion rew 701:

Aty
financing makes unnecessary to consider gold plan for present. Effect
of announcement in New York very unfavorable, 7e believe completion
Dew York financing makes raising gold fund from rest, of country much
easier and necessary should be done before English moratorium expires
October fourth. Gold pledged for City cannot be used for any other
purpose, and no exchange will be made by that transaction. If you
agree wisdom of carrying out our recommendation suggest you wire Federal
Reserve Board or Jecretary Treasury urging prompt action. New York
Bankers will cooperate in handling exchange for city and pool accounts.
Benj. Strong, Jr.

THOMAS P. BEAL,
PRESIDENT.

THE

SECOND NATIONAL BANK
BOSTON, MASS.

0
SEP 1 7
1914

L12
September 16, 1914.

Mr. Benjamin Strong Jr.,
16 Wall Street,

New York City.
Dear Sir:

I have yours of September 15 this morning.

I fear I must ask to be excused from being in Washington
on Friday morning of this week, feeling that Mr. Forgan and yourself
can probably fully discuss with the Federal Reserve Board

all

the

questions which may arise.

In regard to the attitude of Boston Banks contributing to

the

gold fund, I think there is a feeling that the Banks of New York,
doubtless of necessity, are considering
and

entering

the City

of New York by itself

the exchange market and buying exchange where they can

and therefore keeping up the price of exchange.

they have their own people in

this

Boston Banks feel that

city that must be taken care of and

therefore their supply of gold must be used for this purpose.

You may

remember that at the meeting in Washington I stated that the net
indebtedness of Boston was estimated at about $35,000,000.

foreign

If a real

pool could be made of the foreign indebtedness of all the cities

ins'

this country, and New York as well as all the cities contribute to -a

gold fund, I believe Boston would be glad to contribute

its

share.

As

previously stated, I think the amount of gold and legal tenders held by
Boston Banks and Trust Companies is about 25,000,000.
Yours very truly, )7_,,e-7




BOSTON CLEARING HOUSE As SOCIATION
THOMAS P. BEAL , PRESIDENT
CHARLES P. BLINN, JR. SECRETARY




SepteMber 23, 1914.

Mr. Benjamin Strong Jr.,

16 Wall Street,
New York City.

My dear Mr. Strong:

beg to adknowledge yours of the 22d instant with
enclosure as stated for Which I am very much obliged.

P.




-

/

F

THE FIRST NATIONAL BANK OF BOSTO
7923.

BOSTON, MASSACHUSETTS
(CriOrcdic H. DWINNELL

/

N-1




October'

VICE -PRESIDENT

Twenty-third

1925

Hon. Benjamin Strong,
Governor, Federal Reserve Bank,
New York, N. Yr

My dear Governor Strong:

Upon behalf of Mr. Wing, who is today
in New York en route for our Buenos Aires Branch,
I have pleasure in acknowledging receipt of your
letter of yesterday's date, from which we note
that provided Dr. Schacht has an available
opportunity to visit. Boston, you will send word
to us, even though the notice may be short.
It will give us particular pleasure
to receive Dr. Schacht at any time when it may
be convenient for him to come to Boston, and
we will extend to him a warm welcome.
We quite understand that on account of
the private character of his visit, he is making
no engagements for anything in the nature of an
official party or public speech, and we will be
guided accordingly, should we be fortunate enough
to see Dr. Schacht with us here in Boston.
With many thanks for your note,
Believe me
Your

tru

4l







liovember 9, 192b.

My dear Mr. Dwinnell:

I am very sorry to ie obligeci to advisr.
you that Dr. -,ctlacht will find it im;,osGible to get
to Boston.

He has hurl bo many enggeitents to keep,

and besides that has ben celled on to make two tripe
to Washiniiton and one to Chicago, that a trip to
Li:: was very grateful for

Boston becomes impossible.
the Buggeation.

With kindest regards, believe me,
Very truly yours,

Clifton H. Dwinnell, Ekgi.,
First itational Bank of Easton,
Boston, Wise.
-

B3.1.6

SEND THIS COPY TO
AUDITING DEPT

Sept. 14, 1914,

L. L. Rue, Esq.,
Philadelphia,National Bank,
Philadelphia, Penna.
Federal ileserve Board has announced that conclusion New York. City
financing makes unnecessary to consider gold plan for present. Effect

of announcement in New York very unfavorable. We believe completion

fund from rest of country much
should, be done before Imglish moratorium expires

New York financing =kiss raising gold

easier and necessary

October fourth. Gold pledged for City cannot be used for any other
purpose, and no exchange will be made by that transaction. If you
agree wisdom of carrying out our recommendation suggest you wire Federal
2eserve Board or Secretary Treasury urging prompt action, new York
Bankers will cooperate in handling exchange for city and pool accounts.




Benj. Strong, Jr.




OIRUANIZIE RD 184)3

0

CAPITAL $1.500.000

SURPLUS

4.000.000

LEVI L. RUE, PRE SIDEET
LINCOLN GODFREY, VICE FEE sIDEN,

HARRY J. KESER, CASHIER
HORACE FORTE SCITE,AssT CASHIER

PHILADELPHIA.

WILLIAM S. MADD 03cASEIT CASIMIR
DAVID W STEWART, A ST. CASECOM

ept .15th.1914.

FRANK F. STKPIIENS,AL-Drroa




Mr.

Benjamin Strong, Jr.,
Cio Bankers Trust Company,
New York City.

Dear Mr. Strong:-

Your letter of the 14th. instant is received
confirming your telegram with reference to the announcement of
the Federal Reserve Board in regard to the proposed Gold Fund.
I hesitated to telegraph the Federal Reserve Board urging a
change in their decision in the

absence of any

to the reasons which led them to think it

information

inadvisable

as

at this

time to put the proposed plan into operation, as it would seem

presumptuous on my part, without such information, to appear
in any way to criticise their course.
I shall hold myself in readiness to join the
Committee in Washington if it is decided by you and Mr.Forgan

desirable that the Committee should meet, or to do anything
else I can in the matter.
Believe me,

Yours very truly,

0

3
OFF ICE OF THE

THE PHILADELPHIA NATIONAL BANK

PRESIDENT.




September 18th.1914.

Mt. Benjamin Strong, Jr.,
Bankers Trust Co.,
New York City.

My Dear Mr. Strong:
Referring to our conversation today

over the telephone I find that in accordance with
new regulations, it will be impossible for me to
board the Congressional Limited from New York. Just
why this is I am not informed but nevertheless it is
the case.

However, I expect to tyke a train tomorrow

afternoon which reaches Washin fOn at 8-20 o'clock
and will be at the New Willa
nine.

about quarter of

Upon my arrival I will be very glad of the

opportunity of seeing plti and Mr. Wiggin to talk

over the situation so 'that I can be better informed
as to just how thing's are.

Wiih kind regards, believe me,
Yours very tray-

OFFICEOF THE

PRESIDENT.




THE PHILADELPHIA NATIONAL BANK

Sept. 23rd. 1914.

Mr. Benjamin

Strong, Jr.,

C/o Bankers

Trust Co.,

New York City.
My Dear Mr. Strong:-

Your favor
received enclosing
which I thank you.

of the 22nd. instant is

papers as

stated, for all of




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ACKNOWLEDGED
OCT 2 21925
THE FIRST NATIONAL BANK OF BOSAN s.
BOSTON, MASSACHUSETTS
NIEL G. WINO



A

PRESIDENT

October 21, 1925
My dear Governor Strong:

While recently in Boston the
German Ambassador, Baron von Maltzan,
suggested the desirability of a visit to
Boston on the part of Dr. Schacht, the
President of the German Reichsbank.
We accordingly extended an invitation to Dr. Schacht through the German
Ambassador, who informed us this morning
that we should learn from you when it might
be convenient for Dr. Schacht to come to
Boston.

I should be glad to hear from
you in due course with reference to Dr.
Schacht's plans, as we would like to give
him a warm welcome upon his arrival and see
that he meets representative interests while
here.

Very truly,
E-tz-

resddent

Hon. Benjamin Strong,
Governor, Federal Reserve Bank,
New York City.




October 22, 1925.

My deer Mr. Ming:

I have just received your note of the 216t, end
hasten to hdTio6 you of the situation
to Dr. Schechtia visit
in Boston.

He is here for a very short sty indeed, and un-

fortunately is 'obliged, b4for e leaving, to no to Washington
again. The indefiniteness of his trip to Washington wAss it
impossible for him to sty now whether he can get to Boston or
not, or when the data would be if be were tble to go.

1 em therefore taking the liberty of suge:oeting that

if he finds he can spars the time for the trip, I will send

word to you, even though the notice be very short, and then if
you feel dinposed to entertain him id it is convenient to do

so, I am very certain that he will enjoy it.

I think T should expltin thet on account of the private
character of his visit, he is akin g no ongegements for tnyteing
in toe nature of an official peaty or public speech, and in fact
has declined many invitations of that sort, because he feels thet
it would be inconsistent with the object or his visit.
Many thtnks to you for your note.

Very truly yours,

Daniel Q. Wing, Esq.,

President, First National Bank,
Boeton, Mess.
BE3.1.4


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102