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Nov 15, [1929] From:        To:        
 
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Saturday   
Friday Nov 15th

Dear Paul

     Got your cable and am glad that it isnt so bad as I feared,  Be very careful not to get in deep.  If you feel you should buy more better get it for me, but, I would rather see you get out of xxx debt.  You should reduce.  I fear they could catch you fairly easy and a large part of those who made things go so much higher than they had any right to go are broke with no chance to come back.  The market will not have any great boom.  The wise ones will be cautious, so dont get in deeper but try to reduce indebtedness when possible.  If you think it would strengthen your accounts and reduce indebtedness take some of the later bonds bought for me and substitute xxx some of your stocks held by Noyes and the Bank, you can keep it seperate.  I will go to Cannes France next week will send wire tonight so have no more mail sent here.

Hastily

C.S.D.
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Hotel Metropole,
London, W.C.2.
Gerrard  8121.
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Paul  Darrow
111 W Jackson St
Chicago
xxx  Ill.
U S A

Bank.
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Hotel Metropole,
London, W. C. 2.