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Aug 24, 1912 From:    Baehr, William A.     To:     
 
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William A. Baehr
Consulting Engineer
Peoples Gas Building
Chicago

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Aug. 24, 1912.

Mr. Paul E. Darrow,
c/o Greeley Gas & Fuel Company,
Greeley, Colorado.

Dear Paul:--

     First of all I want to tell you how glad I am that your father is free from the suit which has been bothering him so long.  I think he made a marvelous speech to the jury, but over and above that it was apparent from the first that the jury did not bother very long to make up its mind about the facts in the case.  I wish when you write your father that you extend my hearty congratulations to him and tell him that I am sincerely glad and Mrs. Baehr is the same.
     The report for July is just at hand.  It looks to me as though we had at last come to the turning point of the Greeley business.  In other words, it looks as though from now on we should be able to see an increase in the net income.
     It does not look as though we were quite prepared to pay dividends on the preferred stock next year, but at the same time we may be able to do so if we can not go ahead on our operating expenses.
     I presume you and I are both agreed that the main reason why we are always short of cash is the fact that we require money for construction purposes.  I think, however, I will come to Greeley this winter and at that time I believe we had better undertake certain things in order to bring the earnings up where they should be.
     It may be that the next six months will change the complexion of things sufficiently so that we will not have to do any different from what we are doing, but I certainly want to be prepared to pay preferred dividends next year if possible.
      With kind regards, I am,

Yours very truly,

WA Baehr

WAB/LC