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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 thanks for your hospitality and help,
rza,

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

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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,




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Copy




White Star Line,
London Office,













2Y,

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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




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