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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