Sep 27, [1929] From:        To:        
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Hotel Metropole
London,  W. C. 2.

Gerrard   8121.

Sept 27th

Dear Paul

     Received your letter with the 100 E   Also information of sale of 50 shares of U.P.[.]  Am glad you sold it.  Hope you wont load up any more until you materially reduce indebtedness.  I dont know just how my account stands, but if there is any money there would rather you take it and pay .06% on it than to buy more stock.  Would rather see you reduce your indebtedness ? than get more stock.  I still believe things are going lower.  They are ridiculously high.  A falling off xxx of earnings would surely make things go down.  Shall probably be here ten days & then go to France & drive from there to Cannes - France  xxx & stay a few weeks.  My friend Mr. Kellogg of Jamestown ND. has been here with his car[.]  We have driven four thousand miles in England, Scotland and Wales, and I feel as if I had seen it all.  It is very beautiful[.]  We will drive from Paris to Southern France
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And see most of it along the Riviara.  Shall avoid playing in Monte Carlo as the stock market is Enough:  Will cable Dario Chicago next address which will probably be xxx Cannes France c/o American Express.  When I get back we will consider new job for you.  If you were out of debt or nearly so I would not bother with any job now.  Will reach Chicago probably before the first of the year.  Tell Blance she will have a letter a few days after you get this.  I am trying to get some information for her.  Got letter from Mary yesterday and was was glad to hear from her.

Love to all