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Chicago Athletic Association

Tuesday 20th

Dear Paul

     Saw Baehr the first thing this morning.  He said that if you thought it best their Co. would buy the Electric for 110% or even 120 % of stock which I told him was 90 000.   He I told him ours could not go in at the price we figured on before, he said he knew it & was willing to pay a good fair price[.]  My own idea is that our plant is not worth less than
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$200000 although  I said nothing about price.  He said he would write you today & he saw no reason why you shouldnt go ahead & see what you could do[.]  I think they would take it up even if they did not get all the stock[.]   He said he would want you to stay there an other year & would pay you 200 a month & raise it to 250 in six months[.]
     I presume he would want to pay us in bonds or preferred stock or both which he says is perfectly good, but of course all this could be figured out, no doubt too he would now be willing to give some common stock if if we wanted [.]  Of course I know he wants to do all he can for you and would soon find you something better, if you wanted it[.]  He says his Co. is flourishing & they will  Make a big thing out of it.  All this will be up to you.  Of course I would like to see something done if it is the right thing.  As I want to get  
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it out of debt.  If we dont I will see what I can do what about getting rid of bonds.

Love to al

C.S.D.