Apr 28, [1931] From:        To:        
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Cable Address, Murahill
Telephone Lexington  2-2300

Murray Hill Hotel
Park Avenue, 40th to 41st Streets
New York

B.L.M. Bates,  Proprietor
G.T. Sandalls, Manager

April 28th

Dear Paul

     Got your letter yesterday and perhaps you are right in standing pat.  If you need to sell any thing at Noyes Co. You are free to sell mine as well as yours[.]   It is all the same.  You may loose out but all we can do is the best as we see it. Remember [?] will be satisfied whatever is done.  Of course I think we will probably pull through, but perhaps not.  I have had all kinds of opinions here mostly pessimistic no one seems to know any thing.  It looks as if the picture would be released on July 1st.  I believe there will be some money in it also that I will find an other way to make some money.  Dont hesitate to use the 2500? check if there is money in the bank to cover it[.]  Dont take things too seriously[.]  It   does doesent matter much,