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Home, Sunday June 4, A.M.

My dear Francis

Your letter of June 1 came last evening with your check, which I will deposit tomorrow.

As to investments, I thought that if we could save the June dividend on Steel Common by buying before June 1, the date when the books close, that it might be well. But as it turned out that the money was not forth coming, I gave it up, and just at that time the investigation in Congress began, which may or may not make trouble, [[insert]] so the delay may have been well. Still [[/insert]] as far as I can learn the Steel Corporation does not come under the class with the "trusts" which are illegal, never the less one never knows what a Congressional Com. may do. Then too I note that the business in steel has fallen off owing to the general uncertainty caused by the investigation. Until the Supreme Court gave their decisions no one knew what the "Sherman Act" might cover, in the way of business. So many phases of business have been at a standstill, but now that the decisions have been made & the law interpreted by the Court, there will be a return of business

[[margin]] I will express your valise C.O D. tomorrow  there is no key  have you it? M. [[/margin]]