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Written at Hadley Field
New Brunswick New Jersey,
April 4, 1932

Dear Billy:
The condition of business and the position of Congress make the investment situation so clouded that I wouldn't under present circumstances do anything about taking money out of the bank to put into stocks. Telephone is not earning their dividend of $9 and evidently the business of Drug Inc has fallen off so much that the value is affected accordingly. Having lost so much myself that my own estimation of my own judgement is next to nothing I cannot of course offer any advice about our cash in hand. I'm pretty low in mind about the matter and am for keeping liquid in the bank until there is some change to indicate a revival of confidence and business. Another stock that would appeal to me if I had any money to use would be First National Stores. Also perhaps-one of the alcohol stocks such as Am commercial or US industrial. Just keep tabs on the Tel, Drug FST and Any others you think well about and let me have your and others reactions if it looks ripe. 

Henry is due in NY today. I do hope he has time to come over to visit (and without his chief worry0

One of our neighbor friends was with us sat night for dinner and seemed all right after a recent breakdown but yet didn't appear too lively. However his sugar brokerage business was shaky I understand. Anyway Sunday morning he hung himself which was quite a shock to us all. Cowardly thing to do leaving a wife and two kids to face the future, I calls it. 

The OC Houseinsurance is a bit hazy in my mind just now but congratulations on the welcome reduction in taxation which you finally secured! As to the renewal of the amount of $5000 in June- what is the present total and what is it's proportion to the actual value of the premises? In other words I wouldn't put on more than a 75 or 80% ration of coverage to total because it certainly wouldn't be worth it. This is my answer to you?

If Henry does not come over I will ask him about his prospects at the hotel; and if he really feels t he can't keep on since he is losing his equity in the Trust all the time I am going to suggest he move out to his mansion in the Centre and get a job of some sort. If he isn't getting anywhere with a look into the future it would be foolish for hime to stay on as he is and go backward...

Well if we have to come down in rent a few more dollars and equalize the flats now let I'm in favor of it if you get a good class of tenant and can cover taxes and repairs. If rent is to go up again as time goes on we can raise accordingly w the time gets ripe and besides we stand a better chance of selling if the property is in good shape and being used to good advantage. 

How did you come out with the Sullivan map. Do you think it is going to be a flop? Aw, Hell. 

Best regards and here is to the lifting of Depression. 

Transcription Notes:
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