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Dec 6, [1929] From:        To:        
 
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Hotel Majestic
Cannes

Dec 6

Dear Paul

     The last letter I had from you was written Nov. 14th  right after there seemed to be a  turn in the market[.]  I have been looking for one all the time Since.  Hadnt you better write oftener.
     The market seems to have gradually improved especially the last two days, and I am wondering how it is going with you.  I dont know whether you sold the stuff you bought for [?] not.  There should be some profit in it and if you have sold or think best to sell you had better take the profit and pay in as far as it goes.  Of course you havent had much chance to do any thing since the slump began, but you could easily get wiped out with all you owe, but you know all about it now.  I think it might happen again, and I wish I could see you get out of debt or somewhere near out.  I have for a long time expected you to go broke and of course if it happens, we will get along and make no fuss over it.  Still we must do the best we can with a situation and you will be obliged to take some very substantial loses if you ever get out.  The market will not go up again for a long long time, and xxx it may not go down.  It is very nice down here, the climate is good and the scenery fine.  Brand Whitlock lives here and I have seen him twice in the last week.  I could just as well come home and if things look bad again I think I should go.  There will be no trouble about keeping warm.  Write often if only short letter[.]

C.S.D.
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Cannes


Paul  Darrow
111 Jackson Boulevard
Chicago          
Ill
U.S.A.

Bank.
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Hotel Majestic
Cannes