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Darrow, Sissman, Holly & Carlin
Lawyers
1310, 140 N. Dearborn St.
Chicago

Clarence S. Darrow
Peter Sissman
William H. Holly
William L. Carlin
Victor S. Yarros

Telephone
Central 925

Oct 6th

Dear Paul

     Received your letter this morning.  I am inclined to think you are right on the stock market[.]  I dont believe in going into debt for I think most things will go lower.  I cant sell as I have a profit— in most every thing & dont want to increase my income tax.  I have made it a point to keep about $5000? in debt to pay in on as I get any money this is so far as I would go and, I bought 5 bonds Andes Copper Co 07%  convertible at 99?  & will leave things as they are.  While there has been a steady rise in stocks, still most of mine are low in dividend rates and I think will gradually go higher with fluctuations of course.  I shall stay out of grain as they have gone up quite a bit since I thought of it.  You never sent me your Aug. reports.  Am sorry you are having trouble supplying gas[.]  You must do something before next summer.

C.S.D.