LETTER TO MR. TILLINGHAST, JR. FROM W. E. COLBY

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP88-01315R000200440001-7
• Release Decision: RIPPUB
• Original Classification: K
• Document Page Count: 43
• Document Creation Date: December 16, 2016
• Document Release Date: October 5, 2004
• Sequence Number: 1
• Publication Date: December 12, 1974
• Content Type: LETTER

ExecLit3W~9. egi z7
Hpproveu ror rceiease Luu4i i iiu i : tiM-KUroo-u is iorcuuuLuu44uuu -- /t -,7247 1
01{ j L cc>~30Mr' c C IU
F xi ` y1j f~
As -Tj
C,~(es C
1974 C 210
2 DEC
Mr. Charles C. Tillinghast.*:. Jr.
Trans World Airlines
605 Third Avenue
New Fork, New York 10016
Dear Mr. Tillinghast:
Thank you for your nice note about-my talk.
at the Economic Club. Rather.. than. your thanking.
me, I should thank you for the access.to such a
significant audience. It was _a great privilege
to address the Club, and I think both Salisbury
and I even had a bit of fun in the process.. .
Thanks again.
Sincerely,
W. E. Colby
Director
W. E. Colby:me:blb
Distribution:
Orig. - Addee
1 - DCI chrono
1 - ER
\S".sk6~-.k
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R0002004-7
TRANS WORLD AIRLINES
OFFICE OF THE
CHAIRMAN OF THE BOARD
November 22, 1974
The Honorable William E. Colby
Director
The Central Intelligence Agency
Washington, DC 20505
Dear Mr. Colby:
Please forgive my tardiness in writing to
express my appreciation for your having taken the time
to address the Economic Club last week.
I thought what you had to say was very well
received and helped to place the CIA in better perspec-
tive. Too many wild views about it have gained too
wide acceptance in the last couple of years.
Again, many thanks for participating in our
Sincerely,
f. f
Charles C. Tillinghast, Jr.
Approved For Release. 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440
C C> No vv..`c C)
C( -o ~yclby)t,j,'(I?
Mr. Robert T. Quittmfayor
President, Amstar Corporation
1251 Avenue of Americas
New York, New York 10020
Dear Bob:
Thank you very much for your kindness
in coming and picking me up before the speech
to the zoonomic Club. it was good to see you
again, and l take this occasion to sand along
Sher copy of some of your recent .Publicity-
You corms taut extremely well in it, which doesn t
surprise me a bit.
Good luck, and I will hope to see you
on another occasion. With best regards.
Sincerely,
IsloAa
W. E. Colby
Director
W.E.Colby:me:blb
Distribution:
Orig. - addee
1 - DCI chrono
1 - ER
\ CUSS ~~ uw'C ?1~ fit-; 1~~?~t-Ur--
(Attachment was article from New York Times of 1 December 1974 -
article in Business section entitled ''Lightning Rod in Sugar Storm')
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R00020044QQp1,7..
~~TT
C/L
; /onJ 7? 1pk L
12 DEC 1974
Mr. Ralph E. Ablon
Chairman of the Board
Ogden Corporation
277 Park Avenue
New York, New York 10017
Dear Mr. Ab].on s
Thank you very much for your nice note
about my talk at the Economic Club. It was
great fun being there , an was particularly
happy to be able to explain the intelligence
profession to such a significant audience.
The reaction is most heartening, and I very.
much appreciated it.
Sincerely,
lJ /
W. E. Colby
Director
W. E. Colby:me:blb
Distribution:
Orig. - addee
1 - DCI chrono c. S
1 - ER
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
OGDEN CORPORATION
277 PARK AVENUE
NEW YORK, N. Y. 10017
November 14, 1974
The Honorable William E. Colby
Director
Central Intelligence Agency
Washington, D. C.
Dear Mr. Colby:
I very greatly enjoyed your presentation at the
Economic Club here in New York last evening.
Best regards.
Yours sincerely,
Zx ::ugtvs t agisu
rr
--- - ---------------
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01: CIA-RDP88-01315R0003b40a9-7
~
acui va ReOstrl._
c- k
Llfit.I,o) C o(L y,w; 1fk
12DEC974
Mr. Dwight Eckerman
The Economic Club of New York
522 Fifth Avenue
New York. New York 18036.
Dear Mr. Eckerman:
Thank you so much for your very kind note
about my talk at the Economic Club.._it was a..
great. pleasure to be them.. and to have. the
opportunity to explain the intelligence
profession to such a significant audience., .
The arrangements you made were most helpful,
and pleasant,, and I do appreciate alsso.the.
tape of the talk itself.
Thanks again, and Merry Christmas-
Sincerely,
/S/
W. E. Colby
Director
W. E. Colby:me:blb
Distribution:
Orig. - addee
1 - DCI chrono~`~~
- ER
.r-
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7 .~;
.THE ECONOMIC CLUB OF NEW YORK Founded 1907
522 Fifth Avenue o New York 36, N. Y. o MUrray Hill 7-4660 1 DWIGHT ECKERMAN, Executive Director
November 18, 1974
STU
The Honorable William E. Colby
Director
The Central Intelligence Agency
Washington, D. C. 205-05
Dear Mr. Colby:
I want to thank you for taking the time from your busy schedule to
come to The Economic Club on Wednesday evening, November 13, and
talk to our audience. It was an informative and interesting occa-
sion for us. We also enjoyed your answers to the questions. As
far as I could tell, Harrison Salisbury did not lead you into deep
water at any time.
I know that those who attended the Reception enjoyed meeting you
there. I hope was satisfied with our security
arrangements. In spite of the excitement in other parts of the
Waldorf, our meeting went along as per schedule, as I was confident
it would.
Last Friday I mailed you a tape, although I had some uneasiness over
what would happen to it when it arrived at Langley. I hope no one
attempted to fluoroscope it before finding out what was in the envel-
ope. If that per chance happened, let me know and I will get you a
copy.
Again, many thanks to you.
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R00020044000(-Z a
r -5-11-
I j (f- 6 /e Cf -C
cJI C
12 DEC 1974
C'c G-0,`//,,,4
Per. George R. Vila
Chairman
Uniroyal, Inc.
Rockefeller Center
1230 Avenue of Americas
New York, New York 10020
Dear Mr. Vila:
Thank you very much for your very kind
note about my talk at the Economic Club, it
was great fun talking to you there, and your
encouragement is very heartening indeed.
Thanks again, and
Merry Christmas.
Sincerely,
A/
iY . E s Colby
Director
W. E. Colby:me:blb
Distribution:
Orig. -- addee
1 - DCI chrono
1 - ER
tL,
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R00020044
The Economic Club of New York
Questions & Answers
to
William E. Colby
by
Harrison Salisbury
13 November 1974
zu,
HS: Mr. Colby, I think that probably in many ?American
minds is the feeling that the CIA is sort of an
invisible government.. .a sort of a phantom that looms
over the regular government. Perhaps you could explain
this a little bit--what is the actual relationship of
the CIA to the President and what is its function as
defined in the statutes?
WEC: With respect to the President, of course, there is
a piece of paper over my desk which says that I serve
at his pleasure and it is fairly simple. There are
institutional ways provided in the statute by which
he exerts that control over me. The statute says
that CIA will do certain things and it will do such
other functions and decisions related to the national
security as the National Security Council may from time
to time direct. Now our activities are directed by the
National Security Council. Our responsibilities abroad
--our responsibilities for various kinds of collection
of foreign broadcasts and so forth--are all outlined
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
(WEC)
in a series of directives by the National Security
Council to me to carry out and I, of course, have
to report to the National Security Council through a
variety of committees, one of which you have heard
of particularly, called the Forty Committee, which is
a group of senior officials from the State, Defense
Departments, the National Security Council, before
whom I must justify and receive authority to do any
action in the so-called covert action field. Now
this does not mean that I set quietly until they
tell me what to do. I look around at a problem,
I come up with recommendations, but I get their approval
before I actually can go ahead and carry them out.
HS: In this conception of the CIA function, what are the
checks and balances? who really scrutinizes the
inscrutable there? Is it done within the Government
apparatus itself or does this only occur in sub-
committees of Congress?
WEC: There are days in which I think I am very carefully
scrutinized, indeed, by the press, among others,
which I really don't have any objection to and which
I can't under our system. But, to start at the
top: the President obviously has to be satisfied
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
(WEC) with what we are doing. He has appointed a Foreign
Intelligence Advisory Board of twelve very distinguished
private citizens who meet every two months, hold
hearings, ask questions, do intelligence investigations.
A measure of their reputations can be gathered from
the fact that they include such gentlemen as Dr.
Teller, Dr. Edwin Land, Mr. Gordon Gray, Governor
Rockefeller, various other people and Mrs. Luce. These
are all members of this particular board and they look
into our affairs and they make recommendations to the
President about foreign intelligence and sometimes
they take issue and they say that we have not appreciated
a situation properly and we have had a few arguments,
which is fair enough. I then have to justify the position
we have taken.
With respect to our budgets, we are subject to the normal
Office of Management and Budget review of our budgets.
We have examiners who come in and examine our requests,
cut us, and the normal relationship of any departMent
conducted in a compartmented and secret way. But these
gentlemen work for the OMB and they have the problem
of squeezing our desires into their availabilities,
and so they consequently look around for what can be
cut satisfactorily.
Approved For Release 2004/11/01 : CIA-DP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
(WEC) With respect to the Congress, there are, by Congres-
sional establishment...a long time ago...two sub-
committees of the Armed Services. The reason it is
Armed Services is that CIA was set up in the National
Security Act and in the jurisdictional arrangements
.in the Congress, this then carries on and gives them
authority for oversight and I appear before those.
We have a standing arrangement with both of these
committees. I call the Chairman of one every Monday
morning at 10:00 o'clock and tell him anything that
I think should be brought to his attention or arrange
a meeting during the week to discuss something.
to the other, a formal hearing once every two weeks
and we then go up and tell them what we think is
going on in the world, and any problems that have
arisen in our operations. We also have the
Appropriations Committee where there are subcommittees
again and, of course, once a year we go to them and
describe our budget in great detail and depth and go
into any detail that they are interested in on that
subject. So in terms of the Congressional review, I
think it is very intense. It obviously has increased
in intensity in the past few years because, quite
frankly, in the early days of our Agency, the aura
of mystery and secrecy was around intelligence and
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
(WEC) frequently the Congressmen themselves or the Senators
decided that they really didn't want to probe into
the secrets because they were afraid if they learned
them they might spill them. Actually, I have frequently
said that the record of the Congress at keeping our
secrets compares extremely favorably to that of the
Executive Branch. (Much laughter)
HS: Mr. Colby, there has been--I know you are aware--some
criticism of the actual work of these Congressional
committees, some allegations by some other members of
the Congress who are not on those committees and also
in the press, suggesting that you've tamed these
watchdogs so well that really they eat out of your
hands. I suppose you wouldn't agree with that evaluation.
WEC: Well, I have been subjected to some very sharp question-
ing by them and, believe me, some of those nice, soft,
Southern political leaders, they can be very good
county prosecutors, too. (Laughter)
.HS: I am wondering whether, in this system, what protections
are built into it against two phenomena: one is the
self-fulfilling prophecies which seems to me to be
a problem you must confront constantly; and then there is
the other thing where you have.an action program of
tilting the evidence in favor of something in.which
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
(HS) the Agency has decided it wants to have approval
WEC: Those are very good questions. The first one is a
problem we frankly have to wrestle with because it is
true that people sit, look at the evidence, make
tentative estimates about what they mean and there is
a vit of a tendency to receive that additional item of
information and carefully fold it in to the pre-conceived
notion. There is no question about that: that that's
a danger and that quite frankly we have made intelli-
gence mistakes. As a result of that--.I can think of a
rather prominent one. The fact is, however, that we
try to set ourselves up against that. We have a pro-
cedure by which the different agencies of the intelligence
community must consult on an estimate of some particular
situation and the man who is responsible for signals
intelligence will feel very strongly as to what his
particular evidence indicates, while the man who is
responsible for political intelligence, perhaps, will
say, "Oh, don't worry about it." The fact that you
have to consult on this, the fact that the final
estimate has to be mine, period, no others,-'but. that
I am obliged to present any substantially dissenting
opinions, does give the President, the National
and I have in
Approved lr?rPatr~ e g " UM41,: EIA F ff-6h 15RB660$4n40001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
(WEC) my bag one that we are working on tomorrow where
the number of different opinions in that particular
paper in question we are addressing, is such that
it is almost a little hard to follow the rationale of
the paper because the various departments and agencies
are differing.
On the second question about the question whether
engaged in an operation we then only see the things
that support it--this is a criticism that was made
with some justice on the Bay of Pigs; that the
operators who were in charge of the operation, to keep
very carefully... very secret... as they had to, and
the analysts didn't get a chance to be critival about
it. Our analysts did get a chance to be critical about
the war in Vietnam and you have heard a little bit
about our position on that in which they were critical
of even steps taken at the highest level of our
Government. And that, I think, is a function of
intelligence: to take that intelligence assessment and
appraise it.
We do have it arranged that if we are engaged in some
covert action today, that this paper that goes up to
the National Security Council seeking approval to con-
duct the activity must be shown to the analytical side
of our Agency and I have had situations in which the
Appr getF~aS~~0~~1/~ZvoC~QRr@@0~4(a~ of the
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
(WEC) Agency have come up to me and said that they really
don't agree with this, that it didn't seem to make
sense, which then required me to review and think
about it.
HS: Several years ago I happened to be out in Honolulu and
"I was approached by the chief intelligence officer for
CINPAC out there who had a problem. He said that his
commander insisted that when he layed down his
intelligence analysis daily that he place beside that
a copy of the New York Times so that the commander
had the choice of the information that the intelligence
officer gave him and what was in the Times. (Laughter)
Now the problem which this officer had was that he
wanted to receive the New York Times by air mail. At
that time we had an edition-the only edition we
supplied air mail was the Paris edition... and he was
getting the Paris edition several days late and he
had to delay his intelligence estimates for that reason.
I arranged for him to get a New York copy flown out very
rapidly to help him with his problem. (Much laughter)
You don't have that problem. You have the Times
every day and the Washington Post also. (More laughter)
You think it a wise precaution for anyone before acting
on your analyses to take a check of these newspapers
as well? (Much laughter and applause)
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
WEC: I would say that we not only use the New York Times
but. we use a variety of other newspapers ..... (laughter)
.....no, we have the greatest respect for the function
of the press and what it does--sometimes against us--
but particularly in terms of trying to assess and
understand a foreign situation. We do have additional
some of .... (interrupted by laughter) ... however,
sources,
sometimes the press can get into things that are very
difficult for our people to get to and I think the whole
concept behind the establishment of CIA was not that
we would run a competing service, but that we would
profit by the contribution made by the press, add to it
the additional matters that cost us a lot of money to
get, subtract out of it what somebody has leaked to
the New York Times, and hopefully arrive at a better
total appraisal.
(Members of audience: "Very good!")
HS: I wonder if I could have one more question with Mr.
Colby? Most of your remarks and all my questions were
devoted to intelligence which is a field in which the
Agency has extraordinary high marks and those who had
(whi
a peak at the Pentagon Papers/shows that its record
in Vietnam was extremely good and, generally speaking,
it is very good. The criticism of the Agency is no secret
to you--it comes from the covert operations in many
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
(HS) different countries and particularly in the outburst
on Chile of late,(and)in very recent days we have had
Dr. Kissinger in India having to pledge, cross his
heart, to Madam Gandhi that you are not going to over-
turn her government or operate in India. We have had
a story in the Times...
WEC: (interrupted to say:) overturn her government. (Much
laughter
(Mr. Lichtblau: I missed that, what did he say?)
(HS: Overturn the government in India. Mr. L: Oh!)
HS ...had a story from Italy about the fears that the
CIA is going to do something dreadful and, and yet you
say that at the moment you practically phased out
clandestine activity. I think you were quoted...
WEC: Phased down
HS: ...phased it down and that you didn't think the heavens
would--didn't you say--tell Congress last spring that
the heavens wouldn't fall if you had to give it up
entirely...
WEC: ...at this time... it wouldn't fall at this time.
(More laughter)
HS: You want to keep a hand in there? (Laughter)
WEC: I think it is important that we have the potential, yes.
HS: I have seen estimates that you have had sort of a
deluge of exposes of the CIA and some of your people
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 . Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
(HS) are telling all and that sort of thing, suggesting
that actually in your budget the clandestine side is
taking the lion'sshare--four-fifths or something like
that--of your budget. Wouldn't that--if you were really
.to phase it down--wouldn't that cut you back enormously?
WEC:. I think here you have to distinguish the differences
between what I call clandestine collection--which does
take a substantial amount--and the covert actions or
political operations that you're mentioning. It is the
latter that by reason of the change in the world today,
are at quite a low level. I don't say I-was misquoted
at one time as saying that it had been stopped. That
is not so. There still are some, but at a very low
level in deference to the kind of world we live in
today, but again, I do say that this is an important
tool for our country to have available to it.
HS: May I squeeze in one question I have about the
Middle Eastern situation which I think most everyone
in this room is worried about? Is there anything
clandestine or unclandestine--you could tell us about
that?
WEC: Well obviously there are a lot of things you can talk...
I would not refer to our operations. I cannot do that
in public, unfortunately, because they become known
Approve ort&.aleasevar A 1Mi'%}J Rf 8 013 5lF~0002004400 1i7 k very well
of them... (much laughter)
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
(WEC) ...but the fact is that the Middle East obviously
is a major problem to our country: it is a major
political problem; it is a major economic problem, it
is a major arena in which we have a problem to face
with the Soviet Union and consequently it is a very
-important intelligence target for our assessments, for
our technical intelligence, for our overt collection
through our Foreign Service Officers and through our
listening to radio broadcasts and through our clandestine
operations. No question about it. It is a very
important subject for our intelligence today.
HS: Would it be violating your standards or principles
if I asked you whether or not you had accurately forecast
and predicted the Arab oil embargo?
WEC: The easiest thing... in the first place, in answer to
your basic question, and there are no indiscreet ques-
tions,. only indiscreet answers.... (Much laughter)...
with respect to the Arab oil embargo, the easiest
thing for any intelligence officer to do after an
event is to reach down and find that one report
down here that said it was going to happen--that is
simple. The question really, however, is: were our
leaders alerted to this danger? I think I would give
us pretty good remarks on that but not perfect ones
by a long shot.
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
_12-
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
HS: Do you have any predictions for the Middle East?
WEC: It is going to be a subject of great importance and
great difficulty to us ... (Much laughter and applause).
End of Question and Answer Period.
Closing remarks and thanks by the Chairman.
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
13-
 () (-'4 (. 0 1 C ! to i I 1 r t'-'- ,.
Approved For Release 2004/11/01: CIA-RDP88-0Q3i
tit 6 Nn L ` ~- (V b
?Y 7
~^
'r r'J
h cj
23 October 1974
MEMORANDUM FOR THE RECORD
1. Mr. Dwight D. Eckerman of the Economic Club of
New York met with Mr. Colby and myself on Tuesday after-
noon,.22 October, to explain how the Club dinner on 13
November would be handled. He said the program, as usual,
would be two speakers, Mr. Colby and Mr. Bridges, president
of Shell Oil. Following their speeches a question panel
would alternately ask each speaker a question. Each speech
should take 25 minutes. He said the press will be there,.
including foreign newsmen, even Tass. There are no facili-
ties for television but it could be carried on radio. :13r.
Colby said no, that he will be there to speak just to the
club members. Mr. Eckerman said the speech would be taped
and a copy sent to us. Mr. Colby said the club did not
need to make security arrangements as he would be bringing
his own along. Mr. Eckerman said it was customary to have
the text of the speech of each guest in hand before the
time of the dinner. Mr. Colby outlined briefly the sub-
jects he intended to cover, which appeared to sound fine to
Mr. Eckerman., Mr. Eckerman asked if we had any suggestions
as to persons to serve on the question panel. Mr. Colby said
he did not, but would only want people who know what would
appeal to the audience.
2. Mr. Eckerman said a room would be reserved at the
Waldorf-Astoria so that Mr. Colby could change into black
tie for the dinner and stay overnight if he liked, Mr.
Colby said he would be returning to Washington after the
dinner. ',Jr. Eckerman said that at 6:10 Mr. Charles Tilling-
hast, Chairman of the Board of the Economic Club, Bridges
and `two members of the question panel. would. call to escort
%h'.. Colby to the reception and dinner. At 8:30 the program
would begin and it would conclude at 10:00.
STAT
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 STAT Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 6R q / 6 C C n1 CS k C , I U
Approved For Release 2004/11/01 CIA-RDP88-01315 RON X01- Y,,/,
- LIC. ?9ry.9r.3~ ~~ w 9f2,`F
eatstry
Execu1SVe 9
r,
THE ECONOMIC CLUB OF NEW Y
`Memorandum
TO:: = ~Mr.- William E.,IColby
Director'The?Central Intelligence Agency
;Washington,' D.2 C. '200--05
DATE: October 18, '1974
? Dear Mr. Colby:
I am enclosing for you the following materials:
a. List of our Current Board of Directors
b. Selected List of Former Speakers
Perhaps this will arrive ahead of my visit with you on
Tuesday afternoon at 3:30. I look forward to seeing
you.
THE ECONOMIC CLU3 OF NEW YORK
522 FIFTH AVENUE - 21ST FL00R
JJEW YQRX. 36, N. Y.
. Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Appr
O F N E W Y 0 R K
L
bP88--0 13 15R000 WUW001-7
BOARD OF DIRECTORS 19.74-71
Charles C. Tillinghast, Jr.
Chairman, Trans World Airlines
PRESIDENT Dwight Eckerman
TREASURER Ross D. Hill
Vice Chairman, Chase Manhattan Mortgage and Realty Trust
DIRECTORS Charles F. Barber
Chairman, American Smelting & Refining Company
Frank E. Barnett
Chairman, Union Pacific Corporation
James H. Binns
President, Armstrong Cork Company
Howard L. Clark
Chairman, American Express Company
James W. Davant
Chairman, Paine, Webber, Jackson & Curtis
Richard C. Gerstenberg
Chairman, General Motors Corporation
Maurice F. Granville
Chairman, Texaco Inc.
Edwin L. Kennedy
Managing Director, Lehman Brothers Incorporated
J. Paul Lyet
Chairman, Sperry Rand Corporation
Donald S. MacNaughton
Chairman, The Prudential Insurance Company of America
William H. Moore
Chairman, Bankers Trust Company
Ellmore C. Patterson
Chairman, Morgan Guaranty Trust Company
Edmund T. Pratt, Jr.
Chairman, Pfizer Inc.
Donald B. Smiley
Chairman, R. H. Macy & Co.
Howard S. Turner
Chairman, Tvirner Construction Company
Approved For ReWWMAOU f/94n IA-RDP88-01315R000200440001-7
Chairman, Eastman Kodak Company
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
BOARD OF DIRECTORS 1974-75
EXECUTIVE The Chairman of the Board
& FINANCE
COMMITTEE The President of the Club
John W. Brooks
Chairman, Celanese Corporation
Gordon W. Reed
Chairman, Finance Committee, American Metal Climax
ADMISSIONS James D. Finley
COMMITTEE Chairman, J. P. Stevens & Co.
William A. Marquard
President, American Standard
Robert T. Quittmeyer
President, Amstar Corporation
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
T H E E C 0 N 0 M I C C L U B O F N E W Y 0 R K
Selected List of Former Speakers
(Title given below was that held by speaker on date of his appearance)
FROM GOVERNMENT:
The Right Honorable Harold Wilson
Prime Minister, United Kingdom
His Excellency Dag Hammarskj8ld
Secretary General of United Nations
The Honorable Nelson A. Rockefeller
Governor of New York
The Honorable Gerald R. Ford
Vice President of the United States
Dr. Walter Hallstein
President, The Commission, European Economic Community
The Honorable John F. Kennedy
President of the United States
The Right Honorable Louis S. St. Laurent
Prime Minister of Canada
General of the Army Dwight D. Eisenhower
Her Excellency Indira Gandhi
Prime Minister of India
The Right Honorable Winston Churchill
His Excellency Nikita S. Khrushchev
Chairman, Council of Ministers, U.S.S.R.
The Honorable John B. Connally
Secretary of the Treasury
The Honorable Mitchell Sharp
Minister of Finance, Canada
The Honorable Pierre-Paul Schweitzer
Managing Director, International Monetary Fund
The Honorable Melvin R. Laird
Secretary of Defense
The Honorable Warren E. Burger
Chief Justice of the United States
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
FROM BUSINESS AND LABOR
Fred J. Borch
President, General Electric Company
Giovanni Agnelli
Chairman, FIAT S. p. A.
A. W. Clausen
President, Bank of America
John D. deButts
Chairman, American Telephone & Telegraph Company
James M. Roche
Chairman, General Motors Corporation
Leonard Woodcock
President, United Automobile Workers
David Rockefeller
President, The Chase Manhattan Bank
I. W. Abel
President, United Steelworkers of America
W. Earle McLaughlin
Chairman & President, The Royal Bank of Canada
Sir Paul Chambers
Chairman, Imperial Chemical Industries
Roger M. Blough
Chairman, United States Steel Corporation
Donald Gordon
Chairman & President, Canadian National Railways
James J. Needham
Chairman, New York Stock Exchange
Henry Ford II
President, Ford Motor Company
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01: CIA-RDP88-j 5R3
J1 jd
TRANS WORLD AIRLINES dk-1_)
A-2Ie5
C 7 /. 6/ C' S lb y, ([//.1
October 10, 1974
The Honorable William E. Colby
Director, The Central Intelligence Agency
Washington, D. C. 205-05
Dear Mr. Colby:
As Chairman of the Board of The Economic Club of New
York I wish to say how pleased we are that you will be our guest
on Wednesday, November 13, 1974, and will address our audience.
I have just learned of your acceptance from Mr. Dwight Eckerman,
President of the Club.
We have a very fine audience of business executives
from the major corporations, and I am sure we will hear you
speak on a topic of interest to this group.
We have had many distinguished speakers in the past,
and you surely are entitled to be among them.
I personally am pleased that the CIA is speaking more
directly to the American people. I believe the benefit here will
be mutual.
You will be'receiving more specific information from
Mr. Eckerman, but in the meantime if I can assist in any way,
please call on me. Of course I will introduce you to our audi-
ence on that evening and I assure you this will be a pleasure.
Sincerely yours,
Charles C. Tillinghast, Jr.
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R 0020 440001-7~
o N e-
C'r
9 October 1974
Dwight Eckerman, Economic
Club of New York, would like to
have you speak to their group
and mentioned the date of
Wednesday, November 13 at dinner
which is their usual hour. He
said the club is made up of
leading business executives in-New
York and described them as top
people in the list' of Fortune'-s
500. He cited the chairmen of
TWA, General Motors, Texaco,
Sperry Rand, Eastman Kodak,
Banker's Trust and others. He
said Vice President Ford was
there in May and they have had a
number of Cabinet members, Senators,
Congressmen and Harold Wilson
when he was Prime Minister of
England. They usually have an
audience of 900-1,000 people. They
never have T.V. but radio could
be arranged if you wanted. Newsmen
are invited and usually attend.
I said I would get back to him as
soon as I could get something
from you.
STAT
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01: CIA-RDP88-0111 MG
THE ECONOMIC CLUB OF NEW YORK
`Program
and
Wead T&ible
ednesday PEvencg, March 14, 1973
-Grand Ballroom, Waldorf - Astoria
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
THE ECONOMIC CLUB OF NEW YORK
522 Fifth Avenue
New York 36, N. Y.
Murray Hill 7-4660
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
THE ECONOMIC CLUB OF NEW YORK
"The foremost non-partisan forum of men in this country"
Wendell L. Willkie
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
PRESIDING GEORGE R. VILA
OFFICER President of the Club
SPEAKER ROBERT V. ROOSA
Partner, Brown Brothers Harriman & Co.
Everybody's Dollar, and What To Do About It
SPEAKER The Honorable JAMES L. BUCKLEY
United States Senator from New York
It's Your Energy Crisis
QUESTION LEONARD SILK - Questions to Mr. Roosa
PANEL JOHN G. WINGER - Questions to Mr. Buckley
QUESTION The Question Period follows immediately after the
PERIOD second speech. The meeting will close by 10 o'clock.
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
C1
roved
Louis PUTZE
President, Rockwell Manufacturing Company
DAVID W. WALLACE
President, Bangor Punta Corporation
ELI BLACK
Chairman & President, United Brands Company
JOHN G. WINGER
Vice President, The Chase Manhattan Bank
DWIGHT ECKERMAN
Executive Vice President, The Economic Club of New York
JAMES J. O'LEARY
Vice Chairman, United States Trust Company
EDMUND T. PRATT, JR.
Chairman, Pfizer, Inc.
GIBSON MCCABE
President, Newsweek
JOHN F. MCGILLICUDDY
President, Manufacturers Hanover Trust Company
W. THOMAS RICE
Chairman, Seaboard Coast Line Industries
JESSE WERNER
Former President, The Economic Club of New York
Vor Iieiease 9641 MM G &A ~bi1315R000200440001-7
 ftroved
/r
H
tv
O
o 11/01 CI P88-O.1315R000200440001-7
~azrman ~restdent, Kraf~tcoorporatzon
WILLIAM C. VERITY, JR.
Chairman, Armco Steel Corporation
ELLIOTT AVERETT
President, The Bank of New York
THOMAS M. MACIOCE
President, Allied Stores Corporation
GERALD B. ZORNOW
Chairman, Eastman Kodak Company
ANTHONY L. CONRAD
President, RCA Corporation
ALFRED HAYES
Former President, The Economic Club of New York
President, Federal Reserve Bank of New York
LEONARD SILK
Editorial Board, The New York Times
GILBERT E. JONES
Chairman, IBM World Trade Corporation
WILLIAM R. GRANT
President, Smith, Barney & Co.
ANTONIE T. KNOPPERS
President, Merck & Co.
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
ef7t,w p"A
U
(n
V1
AMroved
ROBERT W. LEAR
President, F. & M. Schaefer Corporation
HERBERT B. WOODMAN
Former President, The Economic Club of New York
Director, Inmont Corporation
KENNETH C. FOSTER
President, Prudential Insurance Company
ALFRED BRITTAIN, III
President, Bankers Trust Company
RICHARD M. FURLAUD
President, Squibb Corporation
EDWARD B. BATES
President, Connecticut Mutual Life Insurance Company
WALTER D. BALDWIN
Vice Chairman, Uniroyal
RUSSELL G. SMITH
Chairman, The Manhattan Savings Bank
GAVIN K. MACBAIN
Former President, The Economic Club of New York
or F 96n2k'*PtltMver4A E88-01315R000200440001-7
 ARTHUR G. BOARDMAN, JR.
Aimroved Igor R& t2kr4#l1704st C 3P88-01315R000200440001-7
z
U
PO
0
MAURICE F. GRANVILLE
Chairman, Texaco, Inc.
REGINALD H. JONES
Chairman, General Electric Company
ROBERT D. LILLEY
President, American Telephone & Telegraph Company
HAROLD V. GLEASON
Chairman, Franklin National Bank
AUGUSTINE R. MARUSI
Former President, The Economic Club of New York
Chairman & President, Borden, Inc.
FRANK K. TARBOX
President, Penn Mutual Life Insurance Company
HAYS T. WATKINS, JR.
President, The Chesapeake & Ohio Railway Company
ARTHUR D. LEWIS
Chairman & President, F. S. Smithers & Co.
HENRY WEIGL
President, Standard Brands Incorporated
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
fl I M PAO
Q//'W'0W' 6A- %0~~ ave
Approved I
ROBERT R. FERGUSON, JR.
President, First National State Bank of New Jersey
FRANK R. MILLIKEN
Finance Committee, The Economic Club of New York
President, Kennecott Copper Corporation
JOHN W. BROOKS
Director, The Economic Club of New York
President, Celanese Corporation
R. HEATH LARRY
Vice Chairman, United States Steel Corporation
DONALD B. SMILEY
Director, The Economic Club of New York
Chairman, R. H. Macy & Co.
WILLIAM H. Moo"
Director, The Economic Club of New York
Chairman, Bankers Trust Company
THE HONORABLE JAMES L. BUCKLEY
or RWIV Mtf/B1 'r `EA'= P f- 01315R000200440001-7
 i?I
Aroved
tv
O
or @fa M04/11/01: CIA-RDP88-01315R000200440001-7
President, The Economic Club of New York
Chairman & President, Uniroyal
ROBERT V. RoosA
Former President, The Economic Club of New York
Partner, Brown Brothers Harriman & Co.
CHARLES C. TILLINGHAST, JR.
Director, The Economic Club of New York
Chairman, Trans World Airlines
EDWIN L. KENNEDY
Director, The Economic Club of New York
Managing Director, Lehman Brothers Incorporated
R. W. MCFALL
Chairman & President, Western Union Corporation
RAYMOND C. HAGEL
Director, The Economic Club of New York
Chairman, Macmillan, Inc.
JAMES D. FINLEY
Admissions Committee, The Economic Club of New York
Chairman, J. P. Stevens & Co.
ROBERT WILLIS
President, Connecticut Natural Gas Corporation
HARRY E. EKBLOM
President, European-American Bank & Trust Company
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
GEORGE R. VILA, President
Chairman & President, Uniroyal
Ross D. HILL, Treasurer
President, Union Dime Savings Bank
DWIGHT ECKERMAN, Executive Vice President
FRANK E. BARNETT
Chairman, Union Pacific Corporation
JAMES H. BINNS
President, Armstrong Cork Company
FRED J. BORCH
JOHN W. BROOKS
President, Celanese Corporation
R. MANNING BROWN, JR.
Chairman, New York Life Insurance Company
RICHARD C. GERSTENBERG
Chairman, General Motors Corporation
RAYMOND C. HAGEL
Chairman, Macmillan, Inc.
EDWIN L. KENNEDY
Managing Director, Lehman Brothers Incorporated
GuSTAVE L. LEVY
Senior Partner, Goldman, Sachs & Co.
IAN MACGREGOR
Chairman, American Metal Climax
DONALD S. MACNAUGHTON
Chairman, The Prudential Insurance Company
C. PETER MCCOLOUGH
Chairman, Xerox Corporation
WILLIAM H. MOORE
Chairman, Bankers Trust Company
CROCKER NEVIN
Chairman, Marine Midland Bank-New York
DONALD B. SMILEY
Chairman, R. H. Macy & Co.
CHARLES C. TILLINGHAST, JR
Chairman, Trans World Airlines
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
4, V-1 rf;w w em W; Z l', B
FRANK R. MILLIKEN
President, Kennecott Copper Corporation
GORDON W. REED
Director, The Putnam Trust Company
The President of the Club
The Treasurer of the Club
JAMES D. FINLEY
Chairman, J. P. Stevens & Co.
WILLIAM A. MARQUARD
President, American Standard
ROBERT T. QUITTMEYER
President, Amstar Corporation
JOHN C. ARMSTRONG
DOUGLASS CAMPBELL
STEPHEN A. FURBACHER
PETER W. HOGUET
R. L. IRELAND, III
ROBERT G. KEELEY
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
 Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7
A. BARTON HEPBURN . . . . . . . . . . . . 1907-09
FRANCIS LYNDE STETSON . . . . . . . . . . . 1909-10
JOHN G. MILBURN . . . . . . . . . . . . . 1910-12
JAMES SPEYER . . . . . . . . . . . . . . . 1912-14
WILLIAM R. WILLCOX . . . . . . . . . . . . 1914-16
FRANK A. VANDERLIP . . . . . . . . . . . . 1916-18
HENRY MORGENTHAU . . . . . . . . . . . . 1918-20
GEORGE W. WICKERSHAM . . . . . . . . . . 1920-22
WILLIAM CHURCH OSBORN . . . . . . . . . . 1922-24
HOWARD ELLIOTT . . . . . . . . . . . . . 1924-26
WALKER D. HINES . . . . . . . . . . . . . 1926-28
NATHAN L. MILLER . . . . . . . . . . . . . 1928-30
SAMUEL MCROBERTS . . . . . . . . . . . . 1930-32
THOMAS J. WATSON . . . . . . . . . . . . . 1932-34
JAMES P. WARBURG . . . . . . . . . . . . 1934-36
PAUL D. CRAVATH . . . . . . . . . . . . . 1936-38
WENDELL L. WILLKIE . . . . . . . . . . . . 1938-40
DAVID SARNOFF . . . . . . . . . . . . . . 1940-42
WINTHROP W. ALDRICH . . . . . . . . . . . 1942-44
THOMAS I. PARKINSON . . . . . . . . . . . 1944-46
THEODORE M. RIEHLE . . . . . . . . . . . . 1946-48
ALFRED P. SLOAN, JR . . . . . . . . . . . . . 1948-50
JUAN T. TRIPPE . . . . . . . . . . . . . . 1950-52
AUSTIN S. IGLEHEART . . . . . . . . . . . . 1952-54
H. E. HUMPHREYS, JR. . . . . . . . . . . . 1954-56
WILLIAM L. KLEITZ . . . . . . . . . . . . 1956-57
Roy T. HURLEY . . . . . . . . . . . . . . 1958-59
HERBERT B. WOODMAN . . . . . . . . . . . 1959-61
KENNETH C. ROYALL . . . . . . . . . . . . 1961-63
ARTHUR K. WATSON . . . . . . . . . . . . 1963-64
MONROE E. SPAGHT . . . . . . . . . . . . . 1964-65
ALFRED HAYES . . . . . . . . . . . . . . 1965-66
NORMAN H. STROUSE . . . . . . . . . . . . 1966-67
WILLIAM M. BATTEN . . . . . . . . . . . . 1967-68
JESSE WERNER . . . . . . . . . . . . . . 1968-69
GAVIN K. MACBAIN . . . . . . . . . . . . 1969-70
ROBERT V. RooSA . . . . . . . . . . . . . 1970-71
AUGUSTINE R. MARUSI . . . . . . . . . . . 1971-72
Approved For Release 2004/11/01 : CIA-RDP88-01315R000200440001-7