Dec 17, [1927] From:        To:        
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Cable Address "Montbel" New York
Telephone Murray Hill  5400

Hotel Belmont
Forty-Second Street And Park Avenue
New York

John McE. Bowman, President
James Woods, Vice President

Dec 17th

Dear Paul

     Just got your letter.  I dont think that we should pay for the escrow.  In the first place it was not our scheme.  It was done for Hazeltin.  But still  more important Hazelton did not buy the plant.  He sold his option to the Bank.  They are the real purchasers which they wont deny & which I can prove.  They are entitled to no escrow fee on xxx securities which they held for their own purchase.  Hazeltin simply got a bonus for the contract.
     I wrote you yesterday about the Draft to Golding.  I forgot to tell you that the reason I asked you to do it is that I am here and can not get the money that he needs as easily as you can.  Am really glad the plant is sold.  Shall
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write you again before I start work.