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Home Feb.27. 1911   A. M.

My dear Francis

Yours of the 24. came this morning by the first delivery. I have your enclosed check for $850.00. And will deposit it when I go down to the bank to place to your credit $60.00, your Homestake div. for Feb.  I note what you say about increasing your holdings until the div. is $75 per mo. You now hold 120 shares. When your income by div. is $75 per mo. you will hold 150 shares, which at per. would be $16,000. and at $84 per share $12,600. A large sum to be "in one basket." Still it may be perfectly safe for several years to come. Of course in time it will be worthless for the mine will exhausted in years. I do not know how many.

I sent you a communication, similar I suppose to one that came to me, relative to