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Yes. One of them deals with American Electric Power problem, and Don Cook, who
was president of American Electric Power or chairman -
Right, I remember that. I meant this last one you have up here now.
Oh. One in which we had a complaint from Mr. William Cross, who was an
important executive, I believe vice president, an important executive of Guaranty Trust and
also a member of the board of directors of the Times. In early February, 1976, we had a
quite strong complaint from Mr. Cross regarding an editorial that we had run, and -
What was the subject?
The subject dealt with bank regulation, or support of proposed reforms in the area
of bank regulation, and Mr. Cross wrote us a letter, I think he wrote it to Punch, as a
matter of fact, he did write it to Punch on February 6th. His letter starts out by saying to
the publisher, “As you know, I often disagree with your editorials, dealing with economic
matters, but today's editorial on 'needed bank reform -- too little control' goes too far if one
believes in the private enterprise system,” and so on and so forth.
And the letter very significantly ends with this sentence: “I am sorry to bother you, but
frankly, this has been a poor day to work in a bank and be on the board of the New York
Times. Sincerely, Bill. William R. Cross, Jr.”
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