xt7g7940sf5h_19 https://exploreuk.uky.edu/dips/xt7g7940sf5h/data/mets.xml https://exploreuk.uky.edu/dips/xt7g7940sf5h/data/57m2.dao.xml Des Cognets, Russell 1.35 Cubic Feet 3 boxes archival material 57m2 English University of Kentucky The physical rights to the materials in this collection are held by the University of Kentucky Special Collections Research Center.  Contact the Special Collections Research Center for information regarding rights and use of this collection. Russell Des Cognets papers Prohibition -- United States. World War, 1914-1918 -- France. Political letter writing Kentucky -- Lexington. New Deal, 1933-1939. Stock Exchange Reform Committee text Stock Exchange Reform Committee 2016 https://exploreuk.uky.edu/dips/xt7g7940sf5h/data/57m2/Box_2/Folder_4/12300.pdf 1932 September-1933 January 1933 1932 September-1933 January section false xt7g7940sf5h_19 xt7g7940sf5h mistreatment NEW YORK CITY
COMMODORE HOTEL DR. E. STYLES POTTER, President
MAIN STREET VS. WALL STREET CAMPAIGN
conducted by
STOCK EXCHANGE REFORM COMMITTEE
Created by resolution adopted May 2lsI', I930
JAMES F. MEEHAN, Chairman
September 25 1952
NEW YORK TIMES . ’ '
COLUMBUS, Ohio, Aug. 20.—
Savagely ripping into the economic _
policies of the Hoover administra—
tion, Governor Roosevelt demanded
Federal regulation of Stock Ex-
changes today as part of a detailed
program for curbing abuses under MI". Russell des Cognets
the current financial system. * * * ' _ 3
* * * Vital regulatory steps must LOUiS des Cognet S and Company,
' be taken, he said, to prevent recur— i 8
rence of exploitation by a highly Lex ngton’ K ntucky.
concentrated economic superpower
working with the Hoover Adminis- Dear MI‘. des COgnets :
tration as an instrument. * * *
‘f * * He put forward this nine-
pomt program as essential to the Your letters have been nicely and personally type-
protection of the maJority of aver- - lit d . 11 b f ' , -
age men and women of the country. WI‘l en an W1 6 orwarded t0 V011 thls afternoon
1. Effortsf to: prgventi the 185116 of or tomorrow. It is advisable that you use your
“man ac ure an unnecessary” . ’- ’
securities, and to insure fun in_ own envelops in mailing the letters.
formation to the investor in 11(12-
gitimate issues concerning t e - .
use of his money, including a Should you de81 re to do any further mailing, we
demand that the sellers disclose suggest that you use our printed form which we can
their bonuses and commissions. .—
2. Fun use of Federal power for furnish you wi thout cost. The printed letters are
regulation of hqlding companies, not as effective, of course, but the campaign has
3- Egg};eggéa’gfferoglgfiagggh grown to such an extent that we haven' t the time
4. More rigid supervision of na— or the facilities to take care of the details connected
tional banks.
5. Discouragement of the use of with having all letters written personally.
bank deposits for speculation.
6. Complete separation of invest- W a e .
ment and commercial banking e r enclosing one of the print ed forms .
7. Barring the use of Federal Re-
serve funds f0? Speclflatlf’m We are also sending you a hundred re-prints of Honorable
8. A pledge against implied ap- J l '
pmval by the Stat? Depgrtmeqt ames A. Far ey 8 letter to us dated July 14th, and »
of forelgn flotations In this suggest that you enclose one of these with each of
coun ry.
9. No government attempts to in- your letters ‘ '
fluence the stock market by “mis-
leadmg Statinlejti' Our campaign is going over with a bang and we certain-
ly appre01ate your co-operation
NEW YORK EVE. JOURNAL
August 27th,1932 Yours very truly, ,
By Claude G. Bowers 1 I, " /
* * *Wall Street, the interna- /' ‘- //
tional bankers, the investment ' / fl LL/ ‘
bankers and the power combines, J , ,
will not contribute to Mr. Roose- ’
velt’s campaign. All these forces _
will contribute to Mr. Hoover’s JAMS F. MEEHAN, General Chairman,
campaign fund to defeat Mr. Roose- +
velt, who has nothing to sell, ,, ,, ,, Stock Exchange Reform Commi otee
* * * “The man who contributes /
liberally to the campaign funds of J FM/ ML
a party of special privilege does so
on a strictly business, not on. a _
senfilmetfital hbaSIS. He 1aneurgli' In- P.S.--‘iou will note that there is a slight change in
ves s. e as a con rac even
though it is not reduced to paper. .‘the laSt tWO paragraphs Of the Snelosed form letter-
The contract is that the Govern- Ne haVe arranged to supply all of your As "ociate
fizngxgégsgiffggfgglggrllfignhyg*a}, Vice Chairmen wi th printed letters without cost.
* * * The Democratic Party for-
tunately has no favorite group '
upon which to call for large sums
under the promise of privilege or
immunity, expressed or implied. .
The Democratic Party is not for '
sale.” * * *
Our slogan is “MAIN STREET versus WALL STREET”. Hoover administration stood by taking no action what-
Governor Roosevelt, with his thought for the “Forgotten ever to curb thls debacle. L .
Man,” represents Main Street, meaning the citizens who, If you want to know at fir?“ hand JuSt what caused ‘more
through effort and ability, bring success to their respec- than _3000 bank failures Wlfih all the attendant mlsel‘yi
tive communities. President Hoover, on the other hand, suffering and hard tlmQSi Wl‘lte to your United_States Sen-
represents Wall Street and the New York Stock Exchange, ator and 35k hlm to mail you afZODY _Of the testimony taken
which, through special privileges and preferred legislation, to date before the Committee mYEStlgafilhg the New York
bleed the country by manipulating the financial machinery. StOCk Exchange. AS you read this teStlmOHY) taken under
Our Stock Exchange Reform Committee, with a national oath, you W11} wonder why some 0f the P901319 connected
membership of over 14,000, brought about the Senatorial Wlth these gigantic frauds were not sent to the 13911th11-
investigation of the New York Stock Exchange. 'Through tlal‘Y- The T635011. IS Simple- They pald for their immunlty
this investigation, conducted by the Banking and Currency through the medium of large campaign contrlbutlons dur-
Committee of the United States Senate, the incomplete mg fiche 1928Pres1deritlalcampaign and they were accorded
probe has revealed how the defenseless public has been the immunity for Wthh they Pald-
swindled out of over fifty billions of dollars While the MANHATTAN BOARD OF COMMERCE, Inc.
____—___——-——_—___—_——

 HOTEL COMMODORE NEW YORK CITY
DR. E. STYLES POTTER, President
MAIN STREET VS. WALL STREET CAMPAIGN
conducted by
STOCK EXCHANGE REFORM COMMITTEE
Created by resolution adopted May 2 l s’r. I930
JAMES F. MEEHAN, Chairman
NEW YORK TIMES September 23, 1932.
COLUMBUS, Ohio, Aug. 20..—
Savagely ripping into the economic
policies of the Hoover administra-
tion, Governor Roosevelt demanded
Federal regulation of Stock _Ex—
changes today as part of a detailed
program for curbing abuses tinge:
the current financial system. _
* * * Vital regulatory steps must My dear f I‘i end '
be taken, he slaid, to prkevent hecllil-
rence of exp oitation y a ig y .
concentrated economic superpower We are C onduc 1: ing a bus ine S S dI‘l V8 '— no t a p0 l 1 t 1 C a 1
working with 'the Hoover $21,111,115- campa ign . Our 0 rgani za t i on , non- po 1 i t i cal , and
tritlgnfiflgnpfisggfigg' this nine_ de vo t ed ent i re ly t o c ivi c be t t erment , has adopted a
point programhas essentialfto the re solution to support Governor Roos e vs 1 t for Pre s ident
protection of t e majority o aver- 0 he
agemenandwomenofthecountry. f t United States. This action was taken by us as
1. Efforts to prevent the issue of a means 0 f re S t 01"ng C Ol’lf idence; bringing back pI‘O speri ty
“manufactured and unnecessary ’ and r0 Vi '
securities, and to insure full in- (11 p dlng employment for more than ten million
formation to the investor in le- 1 8 W0 rke I'S .
gitimate issues conceriliircilg the
use of his money, inc u ing a
demand that the sellers disclose To effectively urge the elec t ion of Governor Roosevelt ,
their bonuses and commissions. w e mus t, e nr 0 1 1 t hr 0 h
2.Fu11 use of Federal power for men (1 ,di 11g out the nation’ 100’000 bUSiness
regulation of holding companies. an women, Teeted by 100 EXECUTIVE Vice Chairmen,
3. Federal regulatlon of the Stock and l, 000 ASSOCIATE V1 0 e—Chairmen. This organize t ion
Exchange and other Exchanges. mus t be b ill: 1 kl
4-M0re rigid supervision of na— 1 tu qu c Y and by co—operative effort. YOU.
5. Eigcatquzlglgrsnent of the use of 21:: Ila-17116::- f: :8 C038 onef O f the EXECUTIVE V1 0 e Chai I‘—
bank deposits for speculation. ' O C arge OI‘ memberShip- If You are in
6.Comp1et:31 separationl {ff linvest- ac cord with thi 5 plan, our Board 0 1" Dire c t ors wi 11 give
ment an commercia an mg.
7. Barring the use of Federal Re- you aUthori ty t O appo int 100 ASSOCIATE V1 0 e Chai rmen :
serve funds for speculation. to func t ion di re 0 t 1y under your supervi s i on .
8. A pledge against implied ap-
proval by the State Department
of foreign flotations In this In appo int ing your ASSOCIATE Vi ce cha irman , you will be
country.
3N0 government attempts to in_ reques ted to mail a let ter similar to this 1e t ter , to
fluence the stock market by “mis- 100 subs tant ial 01 t izens . We will supply the s tat ionery
leading statementS- and prepare your 1e t t are for you and ship them t 0 you;
* * * * you will 5 ign them as an EXECUTIVE Vi ce Chairman and
NEW YORK EVE.JOURNAL supply your own envelope 5 and pos tage s tamps .
August 27th, 1932
By Claude G. Bowers With a 11 t tle reflec tion, you can readily see that
***Wall Street, the interna- t is uasi—chain letter 1
tional bankers, the investment uicktl d 111 p an Will cover the entire Ccuntry
bankers and the power combines, q Y an W give eaCh Vice Chairman an Opportunity
w111’not contribute to Mr. Roose— to part i c ipate personally as well as collec t ively in
velt s campaign. All these forces a re a t n t. 1
will contribute to Mr. Hoover’s g 8‘ onal campaign° Read carefully the note
campaign fund to defeat Mr. Roose- b e l O W .
velt, who has nothing to sell.” * * *
* * * “The man who contributes
liberally to the campaign funds of cordially yours ,
a party of special privilege does so
on a strictly business, not on a
sentimental basis. He merely in-
vlrests.h He has a congract even
. t oug it is not reduce to paper. ¢ ”
The contract is that the Govern- flifl
ment will be used to enrich him at
thr: ekxpei‘rilse (1)315 his fellow glen.” * * * JAMES F. MEEHAN , Gene re 1 Cha 1 rman ,
e emocratic arty for-
tunately has no favorite group S t O Ck EXChange Re f0 rm Commi t‘ t e 6
upon which to call for large sums
under the promise of privilege or
immunity, expressed or implied.
The Democratic Party is not for
sale.” * * *
___—____—._—_—————-—————————————————
Our slogan is “MAIN STREET versus WALL STREET”. Hoover administration stood by taking no action what-
Governor Roosevelt, with his thought for the “Forgotten ever to curb thls debacle. .
Man,” represents Main Street, meaning the citizens who, If you want to know at fir§t hand Just What caused more
through effort and ability, bring success to their respec- than ,3000 bank failures Wlth all the attendant misery,
tive communities. President Hoover, on the other hand, suffering and hard “1118.5, Wl‘lte to your Unlted_States Sen—
represents Wall Street and the New York Stock Exchange, at” and ask mm to mail you 3,00PY 9f the tF—Stlmony taken
which, through special privileges and preferred legislation, to date before the Committee investigating the New York
bleed the country by manipulating the financial machinery. StOCk Exchange. AS you read thlS testlmony, taken under
Our Stock Exchange Reform Committee, with a national oath, you W111 WOEder Why some 0f the people COImected
membership of over 14,000, brought about the Senatorial Wlth these gigantic frauds were not sent to the peniten-
investigation of the New York Stock Exchange. 'Through tiary. The 1193501! ‘5 51mple. They Pa}d for “3911' immunity
this investigation, conducted by the Banking and Currency through the medlpm (If large campaign COntrlbutlons dur-
' Committee of the United States Senate, the incomplete ing the 192? PTBSIdenfilal campaign and they were accorded
probe has revealed how the defenseless public has been the immunity for “7111011 they Pald-
swindled out of over fifty billions of dollars while the MANHATTAN BOARD OF COMMERCE, Inc.
l______________——————————————————

 ' ‘2
55I FIFTH AVENUE NEW YORK CITY
DR. E. STYLES POTTER, President ‘
MAIN STREET VS. WALL STREET CAMPAIGN ‘
conducted by
_ STOCK EXCHANGE REFORM COMMITTEE
Created by resolution adopted May 2|si. I930
‘ JAMES F. MEEHAN, Chairman
NEW YORK TIMES
COLUMBUS, Ohio, Aug. 20.—— ‘
Savagely ripping into the economic
policies of the Hoover administra-
tion, Governor Roosevelt demanded .
Federal regulation of Stock Ex—
changes today as part of a detailed
program for curbing abuses under 3
" the current financial system. * * *
* * * Vital regulatory steps must
' be taken, he said, to prevent recur- ~.
rence of exploitation by a highly - ’1
concentrated economic superpower 7
figiigfigagfliig‘irflg? NTWS' tie are con ducting a business drive -— not a political
* * * He put forward thlis ninfie- campaign. Our organizati on , non-poli ti cal , and devoted
point program as essentia to t e . -_ - . ' 4
\protection of the majority of web en ti rely to Cl VlC be ttermen t , has adopted a resolution
age men and women of fihe countryf. to suppor t GOV err). 01‘ ROOSGV e1 t f 01’ Presulen 13 Of the -
1. Efforts to prevent t e issue 0 - w c. . n ' ' . ‘
“manufactured and unnecessary” Unl ted otstes. lhi s so 131 on . was taken by us a s .a— means
:ecurities, and to insure full iln- of restoring confi den ce , bringing be ck prosperity and
ormation to the investor in e- - - ' ' '
gitimate issues concerning the prov 1d1ng empl oymen t f or mor e than t on milli on id is
use of his money, including a WOI‘KGI‘S.
dfimarliod that the sellers disclose ASSOC lfl Te
t eir onuses and commissions. , .
2. Full use of Federal power for To effec tively urge the elect]. on of Gov rnor Roosevelt
regulation of holding companies. ~ ' O bu ne 3
3. Federal regulation of the Stock we muSt enroll ’ throughout the 11?}??11 109,00 Si S
Exchangeand other Exchanges. men and women , d1 rec ted by 100 EKLCL VE V ice Cha 1rmen ,
4.11;\.Tore111)'1gili{i superv1510n of na- and l , 000 ASSOCIATE vi 0 e Chairmen . Thi S organization
iona an s. . . - '
5. Discouragement of the use of must be bui lt qui ckly and by co—op ative effort. You
6 gank fiposits fofifipecufla‘tion- t are invited to become one of the ' “ " ‘ Vice Chair—
. om e e se ara mu 0 mves -
mentpand cofimemiai banking. men. There 1 s no charge for membership. If you are in
7-Barrinfg tile fuse 0f Fleisral Re- accord with thi 5 plan, our Board of Directors Wlll give
serve un s or specu a mu. 7 a , . - . r - 5
8”,, pledge against implied ap_ you author i ty to app01n t 100 _y 1 cc Chairmen , ,3
p§ovgl by theflSEattp Departrriiqt t o func ti on di r so tly und or y our sup erv 1 H
o oreign o a ions in 1s 33
country. H55 ISTPNT . . . .,‘S T9197
9. No government attempts to in- In appoin ting your AW V 1 cc Chairmen , you Will be
figgqgegtgtggggggyket by mls‘ required to wri to a l etter exac tly like this letter and
H,” on this stationery, to 100 substantial citizens. We ‘
will supply the stationery. You will be requested to
NEW YORK EVE. JOURNAL write the letter s yourself, sign them as an WW—‘kl
BA‘ggifleZEthffm Vice Chairman and supply the postage s tamps. If you 9%
, ,, * Wynn Street’ the interna prefer , the Horace H. Nahm Companies of this city will
tional bankers, the investment individually typewri to your letters for you at 5 B/Afg!
bankers and the power combines. each and shi p th em’ to you f or your signature and mail- ~
W111 not contrlbute to Mr. Roose- . . . - t t d - OD. 100 n mes
velt’s campaign. All these forces ll’lg. Th1 5 W111 ne CGSSl a 3 your sen 3.118 V I‘ a
will contribute to Mr- Hoover’s and addresses to us W1 th a check for {5,5 . '75 made payable
campaign fund to defeat Mr. Roose- t th H H N hm Com ni
velt, who has nothing to sell.” * * * 0 e orac e ‘ a pa es ‘
11;“ * ’ll‘l“The 1linan who contributes
i era y to t e campaign funds of '
a party of special privilege does so COI’dl ally yours ’ 7
on a strictly business, not on a -
sentimental basis. He merely in-
vests. He has a contract even
though it is not reduced to paper. . -
The contract is that the Govern- mm
ment will be used to enrich him at . ’ ’
the expense of his renew men,» * * * WWW .
* * * The Democratic Party for-
tunatehi1 gas no11 ffavopite group
u on w ic to ea or ar e sums
ilrplmunity, expressed or implied. MAN
.,saiérl‘iginfcriuc' Party 15' It“ i” . - -' -- - -, » - STOCK EXCHANGE” REFORM COMMITTEE :
LEXINGTON, KENTUCKY ‘
Our slogan is “MAIN STREET versus WALL STREET”. Hoover administration stood by taking no action What-
Governor Roosevelt, with his thought for the “Forgotten ever to curb this debacle. . .
Man,” represents Main Street, meaning the citizens who, If you Want to know at fir.“ hand JuSt What caused more
through effort and ability, bring success to their respec- than .3000 bank failures Wlth all the attendant misery,
tive communities. President Hoover, on the other hand, suffering and hard 13111195; Wl‘lte ’50 your United States Sen-
represents Wall Street and the New York Stock Exchange, 3130? and 35k hlm t0 ma11 you a‘copy 9f the testimony taken
which, through special privileges and preferred legislation, to date before the Committee investigatmg the NEW York
bleed the country by manipulating the financial machinery. StOCk Exchange. AS you read thlS testimony, taken under
Our Stock Exchange Reform Committee, with a national oath, you W111 wonder why some 0f the people connected
membership of over 14,000, brought about the Senatorial Wlth these glgantrc frauds were not sent to the peniten-
investigation of the New York Stock Exchange. Through tlal‘Y- The reason 1s 51mple. They Pa}d for their immunity
this investigation, conducted by the Banking and Currency through the medium of large campaign contributions dur—
Committee of the United States Senate, the incomplete mg the 192.8 Pres1dent1al campaign and they were accorded
probe has revealed how the defenseless public has been the 1mmun1ty for Wthh they Pald-
swindled out of over fifty billions of dollars While the MANHATTAN BOARD OF COMMERCE, Inc.
m

 vgq
.1 ' 2
. MANHATTAN BOARD OF COMMERCE
97$ MMERICA’S FASTEST-GROWING ORGANIZATION NOW FUNCTIONINQ IN 234 CITIES
HOTEL COMMODORE NEW YORK CITY
DR. E. STYLES POTTER, President
VA 3-6000
October 29, 1952
ELEVENTH-HOUR INSTRUCTIONS TO ALL VICE CHAIRMEN
VERY IMPORTANT
Mr. Russell des Cognets,
Executive Vice Chairman,
Stock Exchange Reform Committee,
Lexington, Kentucky.
My dear Mr. des Cognets:
Please send a Western Union telegram, night letter, at once
, to Honorable Franklin D. Roosevelt, Governor of the State of
New York, Albany, New York, assuring him of his election as
President of the United States, and congratulating him on the
most intelligent and fearless presidential campaign ever con-
ducted by a Democratic candidate, and giving him a short resume
of what the people in your locality think of hnn as a future
’ President. Sign the telegram as a VICE CHAIRMAN of the NEW
YORK STOCK EXCHANGE REFORM COMMITTEE OF THE MANHATTAN BOARD
OF COMMERCE, and add to your signature, the name of your local >
city. Please mail us a copy of your telegram.
' ALSO -~
Write a letter (onyour own personal or business stationery,
and sign it as an individual) to your own United States Senator
at Washington, D. C. requesting him to mail you the three
volumes covering the evidence of the recent investigation of
the New York Stock Exchange which was conducted by the Banking .
and Currency Committee of the United States Senate, and also
ask your Senator if there is any truth in the rumor that the
Administration forces at Washington have blocked any further
investigation of the Stock Exchange and send us a copy of your
letter - and also send a copy of the letter to Peter Norbeck,
Chairman of the Banking and Currency Committee of the United
States Senate, Washington, D. C. (There is no charge fOr the
three volumes above referred to).
I Ybu are urged to comply with the fbregoing at the earliest
possible moment. The election date is drawing near.
_ Co a: 11y yours,flm
. ,3 Mull/UM J , ‘ Calla..—
JAMES F KMEEHAN, General Chairman,
, Stoc. ,.change Reform Committee,
JEM/L 4ANHATTAN BOARD OF COMMERCE.

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Ftook “Enhance Wefoafi Onwcitteo
isnlattan “oarfi of £0 fierce
motel Commodore
' Tow Lark Qiiy, ”.Y.
,
Tooe'fiir: ‘ >
r ., ,.., “a .- . 1 r, ~ '
hear letter o3 October d;Lh J33
juai been received end I an enoloainr herewith
P oouy of a niwht letter that I am menfiimb today
* to ‘ovefnor Rooaavelt ani also a couy of a letter
that I have just written to flame or Yorfley. E an ' ~
also qwndiim a cowy of thin latte? 38 yea nuvmested ‘
to ;r. Peter icebeok as Taahinwton. /
, ’Ymmntmflfi

2 1 .i , r-: r
1.3535363}:

 Meécljs lleI'ERAOfl/NING ORBGAONIZAATBONDN 0 H9 UFN C TICO QNGMI IMJEnt BITCIE
HOTEL COMMODORE DR. E. STYLES POTTER, President NEW YORK CITY
November 26th, 1932. ‘
Dear Mr. des COQnets: -
I want you to know how grateful I am for
your splendid oo—operation in our non~politicel campaign
for Governor Roosevelt. >
Before submitting the enclosed report and
recommendations to our Board of Directors, I would like to
have the approval of the actiVe members of my Committee.
Please let me hear from you at once, and
feel perfectly free to make suggestions or amendments. '
Cordially youreé/EEi:AL/I:i‘:1"T 1747.73.37.74:
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