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Feb 26, [1926?] From:        To:        
 
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Law Offices
Darrow, Smith, Cronson & Smith

Clarence Darrow
William W. Smith
Berthold A. Cronson
Milton D. Smith
William L. Carlin

Chicago Temple Building
77 W. Washington Street
Telephone Central 4151
Chicago

Feby 26th

Dear Paul

     About a week ago I sold 200 Fisher bonds one at 99 and one at 98.  So I got in ahead of the break[.]  I also paid up practically all my indebtedness at Noyes & Jackson & have enough in bank to get rid of all not [?] $2000? more.  I owed about 28000 when I was in Greeley.  I dont know as I shall sell any thing more now, but think this will go still lower.  Thought perhaps after a little further break if it comes, I might buy 100 or 200 B. & O. of which I now have 200. and perhaps 100 Genl Motors [.]  What do you think of these or any thing else & when If you think best at any time to wire I will understand without your being definite.  I now have 200 B & O— xxx  100 Anaconda 300 Cal Pref. 100 C & NW— 100 Fisher [?] 200 Gt Nor
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100 Kenicot? 200 N.P.?  100 Packard? 100 Pa RR.  100 Sinclear prefered.?  100 S.P.   100 U.P.  100 Cal Industrial   100 Braz  Traction? 200 Braz Bonds.  English [?]  100 shares of Bahia? all the Brazilian bonds have been gradually going up and I think I should keep them? although I dont know but Brazilian traction is about as high as it will get.  Still it must be pretty good the way it has performed[.]  How are the earnings etc there!

C.S.D.