May 2, [?] From:        To:     
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Darrow, Sissman, Popham & Carlin
1310, 140 N. Dearborn St.

Clarence S. Darrow
Peter Sissman
George M. Popham
Victor S. Yarros
William L. Carlin

Central 925

May 2d

Dear Paul

     I bought 100 Anaconda at 38 7/8.   What do you think of selling American T. & T.   They are evidently going to issue new stock & probably it will go down.  If I do how about buying 100 C. & N.W. if I can get it around 62 or 1st or 2d   Rock Island Preferred.  It seems to me that with reduction of R R expenses both of these will go up[.]
     I am disappointed at last report of gas Co.  Of course I know you are doing all that can be done.  Still it doesnt look very hopeful.  Unless you feel quite sure that expenses will soon go down.  It seems to me we ought to either figure on a raise or I should go to N.Y. & see if I cant start a deal with Daugherty, which I believe I can.  Let me know what you think.  Have started paying on stock & N. & J. & will take out as fast as I pay.