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nyc Feb 13 1932

Dear Billy:

Nothing but [[?]] in our house for [[?]] 10 days. Better first, than late. Both on the vessel of hope. May sound funny- but I actually have been busy working and worrying.

Hope everybodys happy enough in the ATT. [[?]] [[?]] 130 in my opinion but not 150 until business picks up better. According to my previous declaration of personal opinion - we shouldn't attempt to get in and out of the market. However having a suggestion, other than putting the money into the savings bank again ;  get 100 [[?]] at [[52-53]] and put in [[?]] for 100 [[?]] of 48-49. [[Looks]] satisfactory to get good returns with safety [[reason]]through [[?]] and [[?]][[/]] a [[/]] stock it is easy to [[batch]]. How about it? Have you [[other]] suggestions? [[Wait]] let [[Henry]] [[a]] [[?]] inflation you be take away [[?]] [[?]] are "this or that."
Best and all, 
your[[brother]]
Ray