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FORM 873 fip MEMORANDA 10-8-14. Mr. Schmid. 14 DEPARTMENT Cable received by J.P.Morgan & Co. from Morgan, Grenfell & Co. regarding moratorium, dated Sept.24. "Following is general sense official announcement made today: 1: Moratorium will end 4th of October as regards debts due to by retail traders in respect of their business as such, also rents. 2: As regards other debts to which general moratorium ap,lied, it will be after wnich general moratorium will extended 'till fourth of November, end as regards all debts. 3: As regards time bills of exchange, there will be no further e.ctension of moratorium after fourth of October so that after that date reaccepted bills will become payable at their extended dates. This arrangement regarding bills has been anticipated by announce lent in "Times" the 5th of September whereby Bank of England will advance to acceptors on request funds necessary to meet all approved pro-moratorium bills at maturity. " W.G.B.Jr. J. P. MORG.4.71r 4. CO. Hew York March 9,1915. 191 COPY of telegram received from 387. E. C. Grenfell Your 402. , Esq. , (dated 8th) to JP,Morgan ,Esq. Bank of England requires two English names, of which one must be acceptor. Bank will not take acceptances foreigner or London agency. (stop) British name is person or firm of which at least one partner domiciled in England. (stop) Bank can refuse any bill and especially reserves right reject any name or company where greater portion capital controlled. in foreign country. Bank does not discriminate in normal times with regard to drawer, although at present would certainly enquire into origin acceptances indicating enemy finance. 4 COP Y March 9, 1915. (dated 8th) ACCEPTANCES. BANK OF ENGLAND, Bank of England requires two English names, of which one mast be acceptor. or London agency. Bank will not take acceptances foreigner (stop) British name is person or firm of which at least one partner domiciled in England. (stop) Bank can refuse any bill and especially reserves right reject any name or company where greater portion capital controlled in foreign country. Bank does not discriminate in L_ormal times with regard to drawer, although at present would certainly enquire into orgin acceptances indicating enemy finance. COPY Private Confidential. 22 Old Broad Street, London, 10th September 1915. (S) 4Ifr E. C. My dear Strong, Referring to your letter of August 28th, I am pleased at all times to furnish you with information as to our methods on this side of conducting bill operations. First. The Bank of England takes bills from its customers and people well known to it and takes for granted that the accepting bank's signature is genuine. It does not of course verify any signatures but looks to the discounter, who may or may not have endorsed the bill, as being responsible for the genuineness of all parties signatures, including all endorsers. If the acceptor fails to pay at due date, recourse is had to the discounter and, failing him, to the endorsers in order as they appear on the bill, perhaps eventually reaching the drawer. Second I do not recollect any occasion on which the Bank of England has required confirmation of the acceptor's signature. to be genuine if the discounter is trustworthy. This iF presumed I can, however, just con- ceive an occasion in which, if there were any suspicion about any bill, the bank might privately sent to the acceptor to ask for verification. You are aware, no doubt, that the Bank of England insists on two names at least, both of which must be English. It does not take en- dorsements of foreigners, or foreign banks, as constituting one of the tao names. In this connection I may mention that for the past twenty years or so foreign banks, such as the Deutsch')ank, the Credit Lyonnais, the Guaranty Trust Company and others, have had branches in London and there have been considerable quantities of bills drawn on these branches which, in normal times, were discounted at almost as good a rate as iinglish bankers' 10/9/15. - 2 - B. S. acceptances. The rate was not quite as good, not necessarily because the credit of those banks was not first class, but because in times of difficulty the Bank of England would not take such foreign acceptances. In the case of Anglo, American houses, such as Morgans, Browns, Speyors, there were English partners and definite English capital in the London houses, and therefore the London houses were not treated as branches of an American house but as purely English houses and so acceptable to the Bank of England, Yours sincerely, (Signed) E. C. Grenfell, I hope you are rested after your arduous labours last fall. enough to make you very weary. Benjamin Strong, Esq., President, Federal Reserve Bank of New York, New York. You had COPY December 10th, 1915. My dear Grenfell: As you may imagine, questions constantly arise with us in connection with interpretations of our now Federal Reserve Act, where the ability to follow precedent is a material aid in the solution of the problem. One of our greatest difficulties has been to develop satisfactory rules to govern the operations of the national banks in accepting bills and the operations of the reserve banks in purchasing them and at the same time feel sure that we are complying with the intention of the law. The Federal Reserve Act in Section 13 provides that national banks may accept bills "based upon the importation or exportation of goods". The same Section provides that the Federal reserve banks may invest in bills "growing out of transactions involving the importation or exportation of goods." Some of my colleagues entertain the view that the limitation of the statute is such that only those bills are eligible which have been drawn in connection with a specific shipment of goods which would, of course, limit the scope of our operations to bills which were originally documentary or, at any rate, drawn under commercial credits which specifically relate to shipments that were reimbursed by the proceeds of those specific drafts. On the other hand, there are some who hold that the test of the character or eligibility of the bill does not lie in the form which To E. C. Grenfell, Esq., - 2 - 12/10/15, To E. C. Grenfell, Esq., - 3 - 12/10/15. I am sorry to find myself again taking advantage of your kind offer to take a "motherly" interest in our new enterprise. Per- mit me to say that the enterprise is growing in stature and strength beyond all expectation. While our discount business is trifling in volume, we are gradually mobilizing the country's gold reserves against later need and have now accumulated nearly $500,000,000, either in our reserves or behind our notes issues. I have had no vacation this year and am seriously considering a hurried trip to London and Paris just to look about and at the same time get a little rest, If I do go over in, say, January or February, I hope to have the pleasure of seeing you in London. With kindest regards and hoping that you may find time to send me an early reply to the above without inconvenience, I beg to remain, Faithfully yours, C. Grenfell, Esq., 220 Broad Street, London, E. C. E. BS/ VCM. COPY 22, Old Broad Street, (S) London,December 22, 1915, E.C. My dear Strong, I have received your letter of the 10th and am glad to answer your enquiries as far as i am able, 1st. It is very rare for the Bank to discriminate against Finance Bills, and it only does so when it considers the London Market is being made use of illegitimately. Finance Bills drawn in the early part of the year have rarely been criticised as it was felt that same would be disposed of or replaced by Wheat and Cotton Bills in the fall, If, however, Bills came forward in very large quantities at a time of wild speculation on your side, the Bank has sometimes issued a private warning to the Market that it disapproves of same, and this has been sufficient to check the Bills without the Bank having definitely to refuse such paper, 2nd. Correct, 3rd, Correct, 4th, This is really answered by No, 1, The Bank of England would not refuse abruptly any first class Bills, but if it considered Finance Bills for speculation were coming forward on any house in too large quantities, it would probably send for the acceptors, or indirectly intimate to them that it did not approve 3f such transactions unless satisfactorily explained. Probably B. S. - 2 - 22-12-15. U.S.Senate, 74th Cong.,2nd qess.,special Committee investigating the munitions Industry, Hearings Pursuant to S. Res. 206 (part 0, p.9586 (Washington, 19-7) EXHIBIT No. 3175 [Copy] MAY 3RD, 1916. am just in receipt of your favor of the 18th ult., and thank you for advising me about the newspaper comment. Aside from some rather joking remarks about my having gone abroad for a vacation, practically nothing was printed in the newspapers here. MY DEAR GRENFELL: I * * * * * * * Since reaching home I have arranged to obtain the opinion of counsel of the Federal Reserve Board as to whether the limitation of 90 days contained in the Federal Reserve Act would make it impossible for us to buy bills in London which have a maturity of 90 days, plus 3 days of grace. As there is a possibility that his opinion will be adverse, an amendment to the Federal Reserve Act has been prepared, and I am pretty sure that if opinion of counsel indicates that it is necessary to amend the act, there will be little difficulty in securing its passage through Congress. It is just as well not to count upon favorable action by Congress until the bill is actually signed. I look back upon my trip abroad as most interesting as well as the most instructive I have ever made and have a feeling that it is likely to be repeated before long. Saw Jack yesterday. He is looking well and plans to leave for a vacation tomorrow. -With best regards to you and your partners, I am, Sincerely yours, - BENJAMIN STRONG, E. C. GRENFELL, Esq., 22 Old Broad Street, z-i?i,774_e_4.0 London, E. C., England. /7W 3/7hy 7.41 Jr. 4ril 15th, 1916. 4 dear Grenfell: Your message reached me on the boat just after we left the landing stage and I was sorry not to be able to get off and reply until my arrival in New York yesterday. We ha,i a comfortable enough crossing, considering the season and the boat. So far as the "St. Paul" is concerned, none of the party can offer the slightest canplaint. They made us very comfortable and gave us excellent things to eat, mush bettor, in fact, than we had expected. Before getting in, got a wireless saying I was ex- pected in 7:Ashington at once to attend one of our Governors meetings and will be gone about a week, so will not be is harness again until nearly the first of lay. I find atremendous accumulation of work in one form or another - one of the aenalties of staying away too long. You and Norman must realize how gratified I am at the result of my stay in London and I hasten to express to you my aapreciation of the great assistance that you all gave me in reaching a prelim inaty inaerstanding which I believe will prove of the greatest importance both to your institution and ourselves. As I stated to Lord Ounliffe ia London, it mal,es mighty little difference to me what kind of memorandum we prepare, so long as we can establish relations of mutual confidence and personal friendship. can do all the business necessary with that iTril 15, 1916. To E. C. Grenfell, :sq. with that as a foundation. ';:ith every good wish to you and your associates and again many rza, thanks for your hospitality and help, rely, your friend, enfell r Co., :.'.ay 3rd, 1915. My dear Grenfell: I am just in receipt of your favor of the 18th ult., and thank you for advising me about the newspaper comment. Aside from some rather joking remarks about ray having goie abroad for a vacation, practically nothing was printed in the newspapers here. The clipping you enclosed contains a very unintelligent and uninformed comment in regard to the note issues of the Federal Reserve Banks. The fact is that we are seeking to _n- crease our powers in connection with the note issue, so that it may be made the instrument for the accumulation of gold and ultimately provide a solid gold basis for whatever note expansion is required of the reserve system in times of great activity. The New York Go:r_Inercial and Financial Chronicle has consistently criticized our policy in connection with the note issue but its criticisms do not meet with the syrpathy of intelligent bankers nor do they reflect the best opinion of the members of the Federal System. It should be borne in mind that tne Federal Reserve Banks only receive deposits from member banks and the amount of these deposits are practically fixed by law, so tnat the power ay 3, 1916. -2- To. -. C. Grenfell, of accumulating gold for the general protection of the country's banking system must be exercised through the note issue. less to say ;;eed- that we intend to continue our policy without regard to criticism of this character. Since reacting home, I have arranged to obtain the opinion of Counsel of the Federal Reserve Board as to whether the limitation of 90 days contained in the Federal Reserve 'ct would make it imnossible for us to truy bills in London which have a maturity of 90 days, plus 3 days of grace. As there is a possibility that his opinion will be adverse, an amendment to the Federal Reserve Act has been prepared and i em prott:, sure that if opinion of Counsel indicates that it is necessary to amend the Act, there will be little difficulty in securing its passage through Congress. it is just as well not to count tion favorable action by Congress until the bill is actually signed. I look back upon my trip abroad as most interesting as well as the most instructive I have ever made and have a feeling that it is likely to be repeated before long. Sa . Jack yesterday. He is looking well and plans to leave for a vacation to-m.)rrow. With best regards to you and your partners, I am, Sincerely yours, E. C. Lirenfell, Esq., 22 Old Broad Street, Leedon, E. C.,England. BS Jr /VC`.: 6/e4.oeze/ AK)-vt/ 04.e 18th April 1916. _LTC Lear Strong, I arL very glad to hear you arrived safely and have corraunicated your cable to our other friends here. With reference to the newspaper cuttings about your visit or departure, they are non-existent. This is the highest tribute I can pay to the Governor of the Federal Reserve Bank of rew York. It is somewhat of a feat for such a personage in these stormy times to arrive here,stay a month, and leave,without reliable or unreliable comment in the newsppers. I enclose herewith copy of letter from the clipping agency which confirms the above. Yours sincerely,' r NMI -** 4 Hotel Ritz, Paris July 2F, VI-. :!5r deur Grenfell: The weather smiled on us yesterday and we had a very comfortable trip across the Channel, but, with the usual delays of examination, it was nearly ' o'clock before I reached the hotel. visit with you and your assoIt was a great pleasure to have ciates in the Bunk, and I am lookin6 forward to my return next month. your men could look up steamer railings for me, it I find we may be a little longer in France would be a great he17,. than I anticipated, but I certainly shall be able to sail by any The party, as you know, good boat leaving around Se,tember consists just of my secretary and myself. With warmest regards and many thanks in anticipation, I um, Sincerely yours, E. C. Grenfell, Esq., 22 OA Broad street, London, E. C. BS/V ,22 1? 271,, ,Oth July 15,19 Ec.2. Dear Strong, I sAm glad the Channel behaved properly to you and did not make you regret the orgy at the Bank garden party on With reference to steamers, our people are doing Saturday. their best for you but at present it is im-possible to name any boat or any sailing. ,..rare, Liverpool was com- A7 you pletely hung up for a week or ten days and they are only Jespatching the troop ships. In addition, I hear to-day that the passport regulations are going to be considerably relaxed, which can but mean a further clamour by passengers for accommodation. The three big fast ships also are being given up by the Government and will be sent to refit so that they will not be available until the Spring of next year. The above is sent just in order to accustor:. you to the idea cf spending the Winter in Europe. I hope you are seeing something of Stettinius she is himself thinking of sailing about the same time as you. Yours sincerely, Benjamin Strong, Esq., Hotel Ritz, Pari s. August 1, MORGAN, GRENFELL 1c,19. COMPANY, 22 Old Broad street, London Kindly repeat telegrane including those received Tuesday August fifth care National Bank ^f Belgium thereafter care Nederlandoche Bank Amsterdam and forward all mail care Nederiandsche Bunk Amsterdam until otherwise directed BENJAMIN STRONG Benjamin Strong, Room 12, 'r . Hotei Ritz Paris, August 1, 1919. Dear Greafell: Thank you for your note of the j-th. Ica troubled by what you say about steamers, but can imagine a worse fate than a. ending the winter in London unless you are all to bo frDzen for lack of coal. It will relieve my mind very much if you are ,ble to zet some sort of accommodation for me any time, say not later than the let of October, aAhough I had hoed to leave not later than about the 15th or IPth of September. You are very kind indeed t help me out and I will do as much for you any day. With many thanks, Sincerely yours, E. C. Grenfell, Esq., 22 Old Broad street, :ondon, England. BS/7 NMAN, GRENFELL & V.! J.10.211014CIANIk CQ New York . OURXML."Cfr MOWWW,HAML.4136101gtM Paris. Philadelphia . TELEORAMS, NORGNI.STOCK.1.01100N. PARTNERS - AMERICAN. .1 P. MORGAN E.G. GRENFELL. %Mr G.P.O. Box V? 56. V. H. SMITH. C. F. WHIGHA M. E. T. STOTESSURY. C. STEELE. H. P. DAVISON. A. E NEWSOLO. W. P. HAMILTON. W. H . PORTER. 22, Old Broad Street, AMERICAN. T W. LAMONT. H G LLOYD. D. W MORROW. E R STETTINIUS. T. COCHRAN. LONDON, __Aid_ A14110 ES a_ E .C. 2. 19_19 Benjamin strong Junr., Esq., C/o Nederlandsche Bank, Amsterdam. Dear Sir, Referring to your request for accommodation on a steamer leaving for New York about the 20th September, the White Star Line have promised to do their beat to eecure a room for you, though they point out that it is unlikely that they will be able to allot you a room and bath alone. They ask whether, under these circumstances, you would be willing to take your Secretary into the room with you rather than a stranger. Perhaps you will be good enough to let us know in due course. Yours faithfully, 0 TELEGRAM Amsterdam, August 8, 1919. MORGAN GRENFELL COMP1NY 22 Old Broad street London Replying your letter of August first greatly a,preciate your assistance stop Will be glad to share room and bath with secretary for sailing any time between September twentieth and Oct ber first STRONG RGAN,GRENFELL &C2 IIIINELEGRAMS, dr.ls.MOKCIAN^ CQ MORONI, VIM LONDON. NewYork. DREXEL a. et? Philadelphia.. MOIMAN,HAILITESACII Paris. PARTNERS. J P. MORGAN. - AMERICAN. E. C. GRENFE LL. V. H. SMITH. G.P.O. Box N? 56. C.F. WHIGNAM. E. T. C. STEELE. 22, Old Broad Street, H. P. OAVI SON. A. E. NEWBOLD. W. P. HAMI LTON. W. H. PORTER. ( AMERICAN. T W. LAMONT. H. G LLOYD. (s) D. W MORROW. E. R . STETTINI US. LONDON, T. COCHRAN. .lth August 1(;1') ' E..0 . 2. Eenjamin Strong, Jr., Esq., 0/0. Nederlandsche Eank, Amsterdam. Dear Sir, Referring to our letter of 1st instant and your telegram received to-day, as follows:"Replying your letter of August 1st greatly iiiileclate your assistance. (Stop) Till be glad to share room and bath with Secretary for sailing any time between September 20th and October ist." we be to advise that we have secured X9r you Room 44 on the Upper Promenade Deck of the "Baltic" which, ice understand, is expected to sail about September 20th. We regret that there is no bathroom attached to this cabin but we will endeavour to better the accommodation should opportunity arise. Yours faithfully, HOTEL RITZ, PARIS, FRANCE. August 16th, 1919. Messrs. Morgan Grenfells &Co., 22 Old Broad Street, Landon, L. C., England. Gentlemen: I an leaving for Constantinople tonight, expecting to return to Paris within four weeks. May I ark you to be good enough to forward all mail including telegrams and cables to Yessrs. Morgan Harjos & Co., Paris, who will be advised of nw farther address. Sincerely yours, TELEGRAM Faris, AuL,,ust 18, 1919. E. C. GRENVELL 016 Dread street London lauialcs for your note eton Raving Liu trig to Constantinople would appreciate retaining room you have reserves' for :resent u_thuugh my sailtig may be deiayed and necessary later to c,Jicel STRCNC 9,2 ri ,c1X, 19th August 1919 £C2. My dear Strong, I have Oust received your letter of the 16th intimating that you have cone to straighten out the Ottoman tangle. I am giving instructions to deer accommodation, if possible, for you between 10th & 18th :ove...ber and have ci...ncelled your previous reservation. I hope when you axe ready to wail that you will find the Labour Party willing to sail a ship for you. t l lave no Uoubt that when is Constantinol)le you will meet my late colleague, Sir Adam Block, whom, I am sure, ycu 41.11 find a pleasant and insilructive corvanion. Yours sincerely, 3enjaJuin Strong, Es.1., c/o. Les,rs. Dorgan, Harjes & Co., Pari s. iD (s) 9.2-leyl,onx... 20th August 1919 dear Strong, After writing to you yesterday I received your telegram informing me you had cancelled your trip to the East. I aim very sorry that I had to give up your accommodtion as it was urgently desired by other parties. I an trying to get other rooms for you,but at present without success, for the earlier date. Yours. sincerely, Benjamin Strong, Esq., c/o. .lessrs. Morgan, Harjes & Co., Pari s. notol Ritz, Paris, August 21, 1;19. dear Grenfell: .kny thankc for your telegram .nd for your note of August 19th, which just reaches me. My decision to go to Constantinople zas on very chart notice indeed, ana my decision not to go 4.ae still shorter. I would like to sail the latter part of September if anything at oan be made available and will wire you somothing definite just as soon as I c:..n soe day light. I shall really miss the Conotantinoile ,Acty bec,use it ,xomised to be one of very great interest. With kindest regards and maw thanks, Sincerely yours, E. C. Grenfell, 22 Old Broad street, London. ES/V 22, 0 ./ZW---{,2er,64-_(-4e.e./", ()..64 21st August 1919 Dear Strong, I au pleased to tell you we have had a room with bath released on the ITaltic" sailing about mid-SeTtember. I would like you to let me know if you should settle not to sail by that boat. Your= sincerely, a Benjamin Ttroncr, rsq., c/o. -rte Harjes & Cc., P a r i s. Hotel Ritz, Paris, August 22, 1717. My deer Grenfell: Your note of August 2Cth just reaches me. Unless something unex- -)ected transpires I should be able to leave Paris the last of this month, returning to London via Amsterdam and reaching England the first week in September. I am most anxious to spend two or three weeks in England before sailing, so any date down to October lst or thereabouts would be all right. Am sorry to give you so much trouble. With kindest regards, Sincerely yours, E. C. Grenfell, Esq., 22 Old Broad street, London BS/V 1 Hotel Ritz, Paris, August 25, 1919. Dear 3renfell: Your note of August 21 is just received. I um proposing to make a very strong effort to connect with the Baltic sailing, on which you have been good enough to reserve accommodations for me, and I shall let you know well in advance if it seems unlikely that I can catch that boat. Sincerely yours, E. C. Grenfell, Esq., 22 Old Broad street, London. a3,. CHIEF STEWARD Steamship Mauretania Southampton Would appreciate your reserving table for two in first class dining saloon Deck 0 and two deck chairs in sheltered position on promenade deck KNJAMIN STRONG Benjamin Strong, c/o Morgan Grenfell 22 Old Broad street Co., ct,t24944te4 Paric, August 30, 1919. CABLEGRAM MORGAN GRENFELL & COMPANY 22 Old Broad street London Repeat cables Monday and Tuesday care Nederlandsche Bank Amsterdam stop Hold co, les and all mail stop Expect to reach London Friday or Saturday STRONG DREXEL" CS! Philadelphia.. .1.19.MOMIANT" New York . 311 ObAN,GRENFELL tle MOMOANOFUMWEMISkeq. Paris. TELEGRAMS, MORGAN.STODUONOON PARTNERS. - AMERICAN. RENFELL. MITH C.F. WmIGHAM. E T. STOTESBURY. CdROILBox NP5 V. 22, Old Broad Street, C STEELE. P DAVISON A E NEWBOLO. W. P. HAMILTON. W. H. PORTE R. T W LAMONT. H. 0 LLOYD. AMERICAN. 9th October ISIS E .C. 2. LONDON-, D W. MORROW. E R ST ETT, NIUS. T CCTPCS/B Benjamin Strong, Jumr., Esq., Federal Reserve Bank of New York, New York. r. Dear Sir, We beg to advise that we have received from the White Star Line the sum of £160. 12. -., being refund of passage money paid by you in respect of the accommodation rescrved on the "Baltic" 19th September. This amount we have paid to the Bank of England for credit of the Federal Reserve Bank in accor.ance with your instructions. Yours faithfully, October 27, 1919. Messrs. Morgan, Grenfell Company, 22, Old Brow". Street, London, England. De.r Sire: Receipt is hereby acknowledged of your letter of October 9th advising that you have depoEite(: with the Bank of England. for the credit of the Federal Reserve Bank, the sum of ;G 160. 12. - ., amount of refund received by you from the Nhite Star Line on account of reeervation cancelled on the "Baltic" t!ue to my having transferred my paesage to the "Mauretania", just before I left England, October 20th. Thanking you for giving this matter your attention, believe :Le, Yours very truly, GB Governor. O 22. OLD BROAD STREET. a) LONDON. EC /raYA-ratn'fte 41,11-1/1A4 k\-104 A. iv Livr )7,,Ayfr"sf A' M\A "1-) (IL-14 /tib' C /r, Neil xL cc,, trr;w- crt) 1170- //A "--(01 aite Lt, 11.1 k (91-11^-A-V /-1/41/t/LA 17-14 A/ av/Pf,-- (AV <af ,/ ("J67 Grand 192E. 'Acme, demr Whizham: II now lo6:z. as thou0 I would be detained ou rather longer than I had planned, whi&I 7weans return home when the travel i he!Vier than T had expected, and ram wondeOng if you 4ou1d ..11T elth,4r the "Glyn Tiy .7_ccomodatiors. 7 an onxious to return on or the nri&jc7tic". The pnrt:' 7;111 cont.lot cf 7;q.ren and mystlf, mirly ceoletary end vl!.141,. te 71nve reservri..4mf for thcf in July, >a ;y it be -de or the laet well Etti the pilinre in AuL:rt A* thoot c in the court ht t, far/ 7!eeke 3 e i tell aln.cot extkaWl 'hjoh dote A.11 -emt hairt hear to me in the ''h to Ctar lino t).t I vex, muel.: crater to cross on ono of theca Loate rzAre to tko crre of me,JuEtt o edoe-leed room wtth yot, ink I vI11 not need the ;r can tx- scion for'myvelf th4e time. pant}:. ve hr:Irt! U.d.a rather hactIntC.p c_ince leav- landcn, V:o H.T..r.u7nrr of which ve.ro cabled Tom by rerman, so I rr.f: full; !(v-ifled of all that hardened. ry l'aet reurde to you and to Vivian,.if he is still rith you. Sincerely y( a/UAW 4. c/o Morgan, Greaten a Company, Crest Tincheeter Stroot, 23 ,Ye-eer,e,,C?edied-tev 5 1 Hotel du Cap e'Antibes, ,_9/-AeeG; Copy White Star Line, London Office, 2Y, e%eee,G"-',#)--aed-teJi/1-_,itee4,- MORGAN GRENFELL &V! 410 MOROAN C' New Yopk LIREXEI, X c.,!! MOKOAN, HAM.1103 &CQ Paris. Philadelphia. TELEGRAMS:- MORGAN. STOCK,LONOON. PARTNERS. J.P. MORGAN.- AMERICAN. E.G. GRENFELL. G.P.O. Box N? 56. V. H. SMITH. C.F. WHIG HAM. M.G. HERBERT. E. T. STOTESBURY. 23, Great Winchester Street, C STEELE. W. H. PORTER. T W LAMONT. H G LLOYD. D W MORROW. T COCHRAN. MORGAN.J" G WHITNEY. T S GATES. AMERICAN. LONDON, 26th August 1926_ J E.C. 2. C CRJ ES Benjamin Strong Jr. Esq., C/o. Messrs. Morgan,Harjes & Co., Paris. Dear Sir, "Aquitania ", 25th September. We beg to confirm our telegram of to-day, reading as follows:- "Referring our letter 23rd are now offered on 'Aquitanir0 25th September C.100 and bath £265 for Please reply as two and D.17 at £192 for two. soon as possible." and now await your further advices. Yours faithfully, Princess Hotel, Faris, August 27, 192G. Gentlemen: Your telegram about accommodations for me and my party on the "Aquitanie" sailing September 25th was received yesterday afternoon, and I immediately replied as follows: "Your telegram received. Am obliged to change my plans and must now sail around September 15th if possible, on any good boat, but of course prefer White Star. Could I trouble you to try Cunard and other lines. If necessary I could take one boat with servant, and Warren and Moore separate boat. Sorry to be such a bother." Since sending this, I have learned that Mr. Morrow will be sailing on the "Mauretania" September 18th, and am therefore wiring you this morning: "Referring yesterday's telegram, learn Morrow sailing on Mauretania 18th. Would much prefer accommodations on that boat if possible. Warren and Moore could take another boat. Many thanks." I regret very much to be continually troubling you about my passage home, but I have no doubt that Mr. Jeeves will be willing to continue to look after the matter for me. Ac indicated by my telegrams, in case it should not be possible to get accommodations for all of my party on one boat, it may be that you could obtain something for myself and servant on the "Jauretania", and thou Mr. Warren and Mr. Moore could follow by the September 22nd sailing, for which you already have reservations. 7ith many thanks for your kind attention to this matter, I beg to remain Yours very truly, Messrs. Morgan, Grenfell & Company, 23, Great Winchester Street, LONDON, E.C.2. BS:11 J .1.. 74,10140.1. C. If DR E X EL X: CI? 110 ROAN, 11A1LIE Sc CA? http://fraser.stlouisfed.org/ Benjamin Federal Reserve Bank of St. Louis Strong, Esq. -2- 27.8.1926 J.Y.MOKOANRe Cif MORGAN GRENFELL & NewYark. DU XEL & Philadelphia. MO ROAN, 11AltJE & Co, Paris. TELEGRAMS:- HORGAN. STO CK , LO NOON. PARTNERS. J. P. MORGAN.- AMERICAN. E. C. GRENFE LL V. H. SMITH. C F. WHIGHAM. M G. HERBERT. E. T. STOTES BURY. C. STEELE. W. H. PORTER. T. W. LAMONT. H. G. LLOYD. D. W MORROW. T COCHRAN. J. 8 MORGAN.JI! G.P.O. Box N? 56. 23, Great Winchester Street, AMERICAN. LONDON, 30th August 1926 E.C. 2. G. WHITNEY. T S GATES. R. C LEFFiNGwELL CRJ/ES Benjamin Strong, Esq., C/o. Messrs. Morgan Harjes & Co., Paris. Dear Sir, We have to acknowledge receipt of your letter of the 27th instant, regarding your return accommodation, and shall have much pleasure in continuing to look after the matter for you. Unfortunately, the prospects of securing a room for you on the Lauretanian, 18th September, are not quite so bright as we thought when we wrote on the 27th, as we now understand that it is a matter of waiting for something to be released. We are assured by the Cunard Line, however, that they will give us the first refusal of anything that may become available, and we can only hope that some suitable room may be released. Yours faithfully, L/L't /;777( Bank of England, London, September 13, 1926. Gentlemen: The enclosed is a telegram which I should like to send to Mr. Giovanni FUmmi in Rome, in reply to the one received from him through you. If you would be co kind as to despatch this message for me, in coda, I shall greatly appreciate it. Please let me know the cost. Thanking you in advance for the courtesy, T beg to remain Yours very truly, Messrs. :Iorgan, Cranfoll a Company, 23, Great Winchester Street, LO:11)01:. B:3:11