[Letter from Geo. Andre to I. H. Kempner, July 3, 1953] Page: 1 of 2

                                
1. TER-OFFICE LETTER
FOR MR.  I. H. Kempner                       DATE    July 3, 1953
SUBJECT  Estimated Daily Cash Balance
2-49 2M 47815
WRITE ON BUT ONE SUBJECT                          TO BE USED BY ALL OFFICERS OR DEPARTMENT
ON THIS SHEET                                  HEADS FOR INTER-OFFICE CORRESPONDENCE
The schedule of repayments to banks shown on our last
report was based on retirements of our borrowings just
as soon as funds became available, with no thought of
maintaining any material balances with the lending
banks. As you state in your letter of the 2nd, the pay-
ments are scaled rather close to our collections so we
will follow your suggestion and let the funds lie with
the banks a bit longer than we thought necessary.
Unless you have reasons for delaying the payments now
scheduled for the 24th and 31st of July, we can proceed
with a buildup of balances in the three outside banks
with the idea of having ample funds on deposit for re-
tirements as shown.
Collections in July should exceed my estimates so you
can consider the balances shown for July as on the con-
servative side.
Respectfully yours,
Geo .Andre

cc Mr. I. H. K. Jr.