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Auction archive: Lot number 406

Series of 7 business letters from Arthur H. Clark to his Cleveland, Ohio banker, F. F. VanDeusen, 4 with Clark's signature.

Estimate
US$0
Price realised:
n. a.
Auction archive: Lot number 406

Series of 7 business letters from Arthur H. Clark to his Cleveland, Ohio banker, F. F. VanDeusen, 4 with Clark's signature.

Estimate
US$0
Price realised:
n. a.
Beschreibung:

Series of 7 business letters from Arthur H. Clark to his Cleveland, Ohio banker, F. F. VanDeusen, 4 with Clark's signature. Author: Clark, Arthur H. Place: Cleveland, OH [and] Glendale, CA Publisher: Arthur H. Clark Company Date: 1927-1940 Description: 9 typed letters written between 1927-1940, 3 with secretarial signatures, 4 signed: Arthur H. Clark,and 2 typed, unsigned copies of letters on onionskin paper sent to Arthur. H. Clark.Two of the items measure 8½x5½"; the others measure 8½x11", on various types of printed Arthur H. Clark Company stationery. Letter 1: with 4027-37 Prospect Avenue, Cleveland [Ohio] address dated Jan. 21, 1927 & addressed to a Cleveland, Ohio savings & loan company: "Kindly mail the writer copy of your last financial statement showing capital surplus and reserves, and advise what rate of interest is paid by you. Yours respectfully, Arthur H. Clark Per A.S." [secretarial signature] Letter 2: on Glendale letterhead with characteristic red AHC Co monogram is dated Feb. 13, 1932 & is historically worth quoting in full: "[..] Feb. 13, 1932. Dear Mr. VanDeusen: I have received your circular letter to depositors dated Jan. 29. I am sorry that the taking of this step has become necessary because it does at this time materially inconvenience your depositors. Will it not be possible to get some help from the new Hoover finance corporation which it seems to me has been established for this very purpose? I feel that the building and loan companies are probably the worst sufferers from the billion and a half of so-called hoarded funds. With over two thousand bank failures in this country last year, it is entirely natural to expect the public to hold their funds. It is of course very easy to cuss the public for losing faith. Probably nothing would bring this hoarded money back into deposits more quickly than to tell the public where they can deposit the hoarded funds safely. The public is limited in the amount they can deposit with the small interest rate with the post office savings department. Heretofore one of the safest places for one's surplus funds has been the building and loan companies. Hence, if the new corporation gives to the building and loan companies some relief, the public will be more apt to trust their funds with the building and loan companies, thereby bringing this large sum again back into usefulness. Yours very truly, Arthur H. Clark w." [secretarial signature-AW]. Letter 2a: Onionskin copy to Clark [in Glendale], Feb. 19, 1932 reads in part: "We have just filed today our application with The Reconstruction Finance Corporation to borrow an amount sufficient to pay off our banks. The new finance corporation will not loan any funds in excess of this amount until they are able to see how far their money is going to go [continues several more paragraphs, unsigned]. Letter 3: on 1214 South Brand, Glendale stationary, dated Feb. 20, 1933. "Any change in the situation with the [savings & loan]? These are pretty strenuous times for most of us, and if there is any way in which I can get a little of this money, it would be very helpful.. Arthur H. Clark w. [secretarial signature-AW]. Letter 4: on later 1214 South Brand, Glendale letterhead with monogram in black; dated March 24, 1937. Regards sending a passbook to draw out money. [signed] Arthur H Clark. Letter 4a: onionskin copy dated March 29, 1937 stapled to Letter 4: positive answer regarding sending passbook for withdrawal. [unsigned]. Letter 5: on letterhead as in Letter 4, dated January 3, 1938; regards sending passbook and sending details of interest. [signed] Arthur H Clark [marked in pencil with a check mark and dated 1/8/38]. Letter 6: on letterhead as on Letters 4 and 5, dated December 27, 1939, sends passbook & asks to credit interest. [signed] Arthur H Clark. Letter 7: on letterhead as Letter 6, dated June, 28, 1940; sends passbook & asks that interest be credited, etc. [signed] Arthur H Clark. This Interesting series of letters show wh

Auction archive: Lot number 406
Auction:
Datum:
8 Jun 2020
Auction house:
PBA Galleries
1233 Sutter Street
San Francisco, CA 94109
United States
pba@pbagalleries.com
+1 (0)415 9892665
+1 (0)415 9891664
Beschreibung:

Series of 7 business letters from Arthur H. Clark to his Cleveland, Ohio banker, F. F. VanDeusen, 4 with Clark's signature. Author: Clark, Arthur H. Place: Cleveland, OH [and] Glendale, CA Publisher: Arthur H. Clark Company Date: 1927-1940 Description: 9 typed letters written between 1927-1940, 3 with secretarial signatures, 4 signed: Arthur H. Clark,and 2 typed, unsigned copies of letters on onionskin paper sent to Arthur. H. Clark.Two of the items measure 8½x5½"; the others measure 8½x11", on various types of printed Arthur H. Clark Company stationery. Letter 1: with 4027-37 Prospect Avenue, Cleveland [Ohio] address dated Jan. 21, 1927 & addressed to a Cleveland, Ohio savings & loan company: "Kindly mail the writer copy of your last financial statement showing capital surplus and reserves, and advise what rate of interest is paid by you. Yours respectfully, Arthur H. Clark Per A.S." [secretarial signature] Letter 2: on Glendale letterhead with characteristic red AHC Co monogram is dated Feb. 13, 1932 & is historically worth quoting in full: "[..] Feb. 13, 1932. Dear Mr. VanDeusen: I have received your circular letter to depositors dated Jan. 29. I am sorry that the taking of this step has become necessary because it does at this time materially inconvenience your depositors. Will it not be possible to get some help from the new Hoover finance corporation which it seems to me has been established for this very purpose? I feel that the building and loan companies are probably the worst sufferers from the billion and a half of so-called hoarded funds. With over two thousand bank failures in this country last year, it is entirely natural to expect the public to hold their funds. It is of course very easy to cuss the public for losing faith. Probably nothing would bring this hoarded money back into deposits more quickly than to tell the public where they can deposit the hoarded funds safely. The public is limited in the amount they can deposit with the small interest rate with the post office savings department. Heretofore one of the safest places for one's surplus funds has been the building and loan companies. Hence, if the new corporation gives to the building and loan companies some relief, the public will be more apt to trust their funds with the building and loan companies, thereby bringing this large sum again back into usefulness. Yours very truly, Arthur H. Clark w." [secretarial signature-AW]. Letter 2a: Onionskin copy to Clark [in Glendale], Feb. 19, 1932 reads in part: "We have just filed today our application with The Reconstruction Finance Corporation to borrow an amount sufficient to pay off our banks. The new finance corporation will not loan any funds in excess of this amount until they are able to see how far their money is going to go [continues several more paragraphs, unsigned]. Letter 3: on 1214 South Brand, Glendale stationary, dated Feb. 20, 1933. "Any change in the situation with the [savings & loan]? These are pretty strenuous times for most of us, and if there is any way in which I can get a little of this money, it would be very helpful.. Arthur H. Clark w. [secretarial signature-AW]. Letter 4: on later 1214 South Brand, Glendale letterhead with monogram in black; dated March 24, 1937. Regards sending a passbook to draw out money. [signed] Arthur H Clark. Letter 4a: onionskin copy dated March 29, 1937 stapled to Letter 4: positive answer regarding sending passbook for withdrawal. [unsigned]. Letter 5: on letterhead as in Letter 4, dated January 3, 1938; regards sending passbook and sending details of interest. [signed] Arthur H Clark [marked in pencil with a check mark and dated 1/8/38]. Letter 6: on letterhead as on Letters 4 and 5, dated December 27, 1939, sends passbook & asks to credit interest. [signed] Arthur H Clark. Letter 7: on letterhead as Letter 6, dated June, 28, 1940; sends passbook & asks that interest be credited, etc. [signed] Arthur H Clark. This Interesting series of letters show wh

Auction archive: Lot number 406
Auction:
Datum:
8 Jun 2020
Auction house:
PBA Galleries
1233 Sutter Street
San Francisco, CA 94109
United States
pba@pbagalleries.com
+1 (0)415 9892665
+1 (0)415 9891664
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