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Show 1.1:111 i; i:i ki ssi s Y 11 suiii ui: u .s in a uiNiiiNti 'V Tlio li'll.'i' vlilrh Is ivpi'.nl.iiv.l In' low l:ins ll'ii'lf. Tlu' luinU u hlrli nvolM'il l Una inilili:lu'il II u ili'ly ill lis li'iiiliM), anil Tim I'vi'mnlil rH"' 1 H t ll Ih'Vo Ih'iiiimi II uvstiiis n luiik's n'lalum u tlio in m it ii 1 1 tuwl to Its ih'iioMliofs III ii riilhiT iui . usual way. Allhoiih 1 1 1 1 li'ttiT Is n'a'.ly, in ils tv h ih'o, a l'i osontal Ion of lut'ikiim iiU'als. !hi point of vlow In so iv; iV.-leiiKly iIllTi'ivul I'roni or-illmiiy or-illmiiy arll'lo.i on t!u sulijocl, (lio Tlio l'viaiuM dollovos a roailln.; of tlio loltor w .',1 bo w orth wlillo folly fol-ly anyono. Tho li'tli'r follows; 'd follows: "Tlio l.iiiialil. Trust ronipany -ST Wall Slroot, Now York. "(.loutlonu'ii : "You have puM's'mul many advor-tisouii'nts advor-tisouii'nts about your olilinalions to nio as a iloi'ositor 1 think it is tinio r for 0110 of your customers to wi'lto ail ai! ort isomoiit about his ohlli;a- !'i t ions to you, his bank. "As 1 si it, 1 owo you thro? 'iiis -junl nioiu'y (at tho lnoniont, thank tho Lord) is not ono of thorn. "1. 1 owo it to yivi, as woll as mysolf. to maintain a Rooil liusinoss reputation. To you bocauso 1 o- poot you to ileuimiil this of your other depositors. If I have liusinoss dealings with a customer of the Knuitable I assume that because lu 13 an Equitable customer, he pays his bills, and is otherwise dependable. I cannot expect you to uphold this , standard on the part of others, unless J do my personal share in upholdln;; it "2. I owe It to you to maintain a balance on which you can make a profit. I expect you to maintain convenient con-venient otlices, which means high rents, high taxes and other expenses. I call on you for a variety of services, many of which were never tht.'.!(;ht of as a part of banking ten years ago. "You cannot meet these expenses and render these services unless you are making money. If you make no money on me, then I am ridinm on the back of your other depositors. I don't want others riding on my back. I I expect. Therefore, not to rile, butt to walk and to carry my share ofj your load. 1 "3. I owe you an obligation to I accept your decision cheerfully, if you sometime say 'No.' If you havn't the courage to say 'No' many times a day, and stick to it. I don't want my money in your bank. I expect you to say no when you are invited to make speculative investments because be-cause part of the money you invest is my money. I expect you to say no ' when you are asked to make ijues- ! tionable loans, or to pay too high a rate of Interest, or to lend at too low 3 a rate. "I want all the interest I can get: and all the accommodation I can get. y But first of all I want to be dead sure that what money I have with you is absolutolv safe. It cant be safe unless you are conservative. An" nan or institution that is conservative conserva-tive must necessarily say 'No' every day. . If ever you say it to me, there-j there-j fore, I owe it to you to believe that 3 you are saying it because it is in the .best interests of all your depositors j of whom I am one. ! "New York. Dec. 19. 1923." |