Viewing page 51 of 185

This transcription has been completed. Contact us with corrections.

National-BenFranklin
Fire Insurance Company
of Pittsburgh, Pa. 
Organized 1866

Eastern Department 
Newark, N.J.

William E. Brooks, Agent
2 Main Street
FRAMINGHAM, MASS.
Telephone Framingham 1248

NEAL BASSETT. President
JOHN KAY. Vice-Pres.-Treasurer
A. H. HASSINGER. Vice-President
WELLS T. BASSETT. Vice-President

March 17, 1933.

Dear Ray:

Your letter of March 14th, is at hand, with enclosurs; you can hold the mortgage data, as it was additional copy; The only change to data is payment of $50.00 on account by Mc Cann.

As to the purchase of stocks; wanted to buy something, April 1st, on the list asspecified, all of which are satisfactory to members of the trust; my fiend at Hornblowers' said "The situation has got us all, haywire, I would not reccomend the purchase of any stocks at this time, but, would advise  the purchase of U. S. Bonds particularly for the purpose of getting money out of banks." He must have gotten some information, but could not state it no account of causing a run on banks. If I had taken a chance on stock, we would be having a fair profit now, but, Oh what a headake while the banks were closed?

As to the banks in Framingham, would state that all are now open and doing business; 100% sound by "special permission of the Federal and State Bank Commissioners"; with some strings attached: Checking accounts can be drawn in full, after a conference with the National Bank, understand that can also be drawn in full, but, the Savings Bank, and the Savings Department of a Trust Company, can only allow withdrawal of $100.00. Have had conference with Treasurers of Savings Bank and Trust Company, in regards to withdrawals; both have decided to see what can be done, subject to loans on your book. Ray Hilliard. Asst. Treas. of Trust Company has been sent to State Commissioners' office today, for this information, but had not returned at 4 P.M. (Taylor thinks he may have been arrested.) Will send this information, when received. 

From information received from Henry, the Blacksmith shop will stay as is. Donnelly sign in rear was removed on March 15th; it has cost plenty in postage to deal with those birds. Hope I can can collect the quarter year due on rent, plus $9.60 tax paid by us.

Over.