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^[[ Agents for Home [[lake?]] Liscencing to Louis [[?]] Mo.]] [[preprinted]] JENKS, GWYNNE & CO. MEMBERS NEW YORK COTTON EXCHANGE NEW YORK STOCK EXCHANGE NEW YORK PRODUCE EXCHANGE NEW ORLEANS COTTON EXCHANGE NEW YORK COFFEE EXCHANGE CHICAGO BOARD OF TRADE ASSOCIATE MEMBERS OF LIVERPOOL COTTON ASSOCIATION CABLE ADDRESS "JENKSWYN" NEW YORK TELEPHONE NEW YORK HANOVER 7474 MONTREAL OFFICE 29 HOSPITAL STREET CABLE ADDRESS "LOUNSBERY" MONTREAL TELEPHONE MONTREAL 5230 Main 15 BROAD STREET New York [[/preprinted]] January 29,1918. Miss Alice C. Fletcher, 214 First St., S.E., Washington, D.C. Dear Madam: In reply to your favor of January 26th, The Homestake Mining Company paid $7.80 in dividends in 1917, and is now paying fifty cents monthly, or at the rate of $6 per year. The probable reason for the reduction is the increase in taxes and cost of production. We cannot say whether the reduction in of a temporary or permanent nature. Hoping this information will be of service to you, we are Yours very truly, [[signed]] Jents Gwynne [[/signed]] RA-I