[Letter from Homer L. Bruce to I. H. Kempner, December 21, 1932] Page: 1 of 12
6 p. ; 28 cm.View a full description of this letter.
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BAKER BOTTS ANDREWS & WHARTON
372 Houstorn Decebmr 1, 1932
1. H.hempner,
5O2 Broadway,
alveston, Texas.
4pner.
s,I told you this morning, Mr. Lockett of Andrews,
1&rLe1maL, Logue & Mobley, attorneys for the R.F.C. is work-
ing with Mr. Jones on the resolution. He has sent me over a
draft of the resolution and I enclose two copies for your con-
sideration. I will discuss certain phases of it. The first
.s the question of paying the First National Bank of Houston
;he full $200,000.00. You have the schedule that we have
worked out for Sugarland Industries and Imperial Sugar Company.
In that schedule there was contemplated to be paid only $100,000
to $200,000, it will be necessary to save $100,000 in other
;laces. It seems to me that probably we will need for the
'iscellaneous notes the entire amount of $170,337.32 as shown
in our original schedule. In casting about for $100,000, I
ave prepared the following tentative figures:
f Mrs. Seinsheimer takes over the entire Houston
and & Trust Company notes, that will be a saving of $9,824.73.
.f the First National Bank of Galveston upon receiving its
50 000 can let you have $20,000 back, this would make a total
of J29,824.73. In paragraph 4 of the resolution you will see
that it provides that the Imperial Bankwill retain up to
;78,329.68 to meet current withdrawals. As a matter of fact,
Ie had included $84,495.50 for the Bank, being $61,659.36 for
current deposits and $22,836.14 for certificates of deposit.
The difference between the $84,495.50 and $78,329.68 is
(r1", hihwudbrn o prg t 3,905,T
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Bruce, Homer L. [Letter from Homer L. Bruce to I. H. Kempner, December 21, 1932], letter, December 21, 1932; (https://texashistory.unt.edu/ark:/67531/metapth1197683/m1/1/: accessed June 29, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Rosenberg Library.