Enclosed is our check in the amount of $109,090.89. This represents the accumulated deficits in our account for all of 1981 and the first quarter of 1982. Should you have any questions please feel free to call me. Francis G. Addison, II 1STAMERICAN FIRST AMERICAN BANK, N.A. April 30, 1982 Mr. Thomas P. Morley Dear Mr. Morley: : My sincere thanks for your wonderful cooperation in resolving our problem of accumulated deficits in EF Hutton's account. Your check was received today and has certainly revived my faith in the -belief that not everybody in the world has lost sight of the fact that through cooperation, mistakes and misunderstandings can be easily put to rest. I have already talked to Mr. Frisbee and Mr. Bralove thanking them for their efforts. Moreover, I have informed the investment officers of the Bank and Trust. Department of the first-class treatment offered by your firm, and have asked them to reciprocate whenever, possible.!78. Sincerely; Francis G. Addison, III FGA:ph 740:15th Street N.W., Washington, DC 20005 (202) 637-6100 Several months ago, this Bank had a serious problem with the handling of one of EF Hutton's accounts. The situation was brought to the attention of Mr. Bralove, the manager of one of your offices here in Washington, who immediately called Mr. Thomas Marley in Naw York seeking his advice. Mr. Morley worked closely with us to corract the problem and was most generous in a settlement. You can be proud of your officers who corrected this problem and reinforced our faith in the American business system. I can assure you that the investment officers of the Bank and Trust Department will continue their business with your firm and increase it whenever possible. FGA:ph Sincerely, Francis G. Addison, III 740 15th Street N W Washington De mms ima、 299 01M Mr. HUGHES. Are you familiar with the settlement, Mr. Fomon? Mr. FOMON. No. Mr. HUGHES. I also have a memo dated May 10, directed to John Latshaw. Who is Mr. Latshaw? Mr. FOMON. He is the regional vice president for the central region. Mr. HUGHES. And Mr. Norman Epstein? Mr. FOMON. He is, again, the head of operations in New York. Mr. HUGHES. I see. All it says is, from Mr. Ball, "very nice." I assume that Mr. Ball obviously had knowledge of the settlement. A number of other banks, at the same time, contacted E.F. Hutton. The Riggs National Bank, April 9, 1982, wrote to you, Mr. Morley, and I offer this without objection for the record. [The documents referred to follow:] It is with regret that we must advise you that, in opinion, the conduct of the above captioned checking acc with this bank has become unsatisfactory. Therefore, we. that no additional deposits be made to this account, and you arrange to close this relationship on or before Apri 1982. In the event you have not been able to comply with request by the date indicated, we will terminate the acc by remitting our official check for the balance on depos at that time. |