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Apr 12, [1932] From:        To:        
 
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Alexander Young Hotel

Honolulu
Hawaii

April 12

Dear Paul

     Stocks keep looking worse and worse, but I suppose they will turn sometime.  I will have at least $12500, about May 1st, which I think would reduce your indebtedness to about $10000, Then we have some bonds so you wont need to worry any more about it, neither will I.  It looks as if the xxx matter will be over in two weeks[.]

Hastily

C.S.D.