frsbog_mim_v53_0244.pdf

244 BOARD OF GOVERNORS

O F T H E

FEDERAL RESERVE SYSTEM W A S H I N G T O N

R-7b7

A D D R E S S O F F I C I A L C O R R E S P O N D E N C E T O T H E B O A R D

December 16, l<pliQ

Dear Sir:

For your information there is enclosed a copy of a letter, furnished to us this morning, addressed by the Director of Purchases and Contracts of the War Department to the heads of the various services of the Department.

It is assumed that contracting officers may, from time to time, communicate vtith the field represen-tative or representatives of your Bank for the purpose of obtaining information with respect to the financial position, general character and responsibility of pro-posed contractors and for the purpose of obtaining the necessary financing of both primary and subcontractors, I know that such requests will reccivc the usual prompt attention.

Very truly yorrs,

Ernest C-. Draper

Enclosure

TO THF PRESIDENTS OF ALL FEDERAL RESERVE BAMS

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C 0 Y Ii-7it7a

December 9» 19̂ -0

SUBJECT: Field contacts wixh Representatives of Federal Reserve Banks in connection with procurement and supply,

TO: The Chief of the Air Corps, The Chief, Chemical Warfare Service, The Chief, of Coast Artillery, The Chief of Engineers, The Chief, National Guard Bureau, The Chief of Ordnance, The Chief Signal Officer, The Quartermaster General, The Surgeon General, The Chief of Finance, The Judge Advocate General.

1. Herewith for information, is a list of District Officers of the Federal Reserve Banks who have been designated by the Federal Reserve System at the request of the Advisory Commission to the Council of National Defense to give special information and assistance in response to requests therefor from (l) contract-ing officers with respect to potential primary contractors and (2) contractors who have orders for national defense materials with respect to business establishments which may be qualified to act as sub-contractors on their contracts•

2, It is the intention of the Federal Reserve System to em-ploy the facilities of Federal Reserve Banks to assist contracting officers, primary contractors and sub-contractors in obtaining special information or financial aid when requested to do so and when such services are not available from the usual sources,

The services of the District Officers of the Federal Re-serve Banks and branches thereof listed in the enclosure will be available to contracting officers for any information or assistance that may be requested. This assistance may bo found particularly helpful in connection with the small contractor or sub-contractor whose lack of financial resources may have precluded him from con-sideration in the past.

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ii. Contracting officers also may a vail..themselves of the fa-ciiities of the Federal Reserve System to secure additional infor-mation regarding the financial position and the general character and responsibility of proposed contractors with the War Department, Contracting Officers desiring such information will communicate with the nearest Federal Reserve Bank or branch thereof, address-ing their inquiry to the officer of the bank shown on the attached list* Any information so received will be held strictly confiden-tial and used solely for the purpose of the proposed contract.

5* It is desired that the foregoing information be dissemi-nated to contracting offices of your branch with the least practi-cable delay.

By direction of The Assistant Secretary of War:

John W. Schulz, Colonel, Corps of Engineers,

Director of Purchases and Contracts.

1 Inclosure List

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