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Written at Hadley Field
New Brunswick
New Jersey
May, 18, 1933

Dear Billy: 

Just a line in answer to your letter of the first. 

The market trend is unmistakably up it seems and wit the president doing his stuff to the countyr's taste I don't see but that a sound stock over the next year or so will appreciate. In other words if we do not see any call on our cash stake it might be well to take on some FST T&T or what have you. The summer slump is due after the present business rush is petered out but there isn't much use of waiting for lower prices now that we have missed so much of the rise , so long as we look to the long pull rather than immediate quick turn profits. T&T fooled me again but I still think they have a long way to go to earn their $9 . FST looks like a higher dividend if there business holds and you can watch it locally. Don't you think there are some possibilities for long pull? Lets talk it over. 

If you are hitting the Jersey coast this month do not fail to count on staying at our house some of the time you may spare. There is so much work to do at the house I'll be there but youd better let me have a ring because I have a vacation of a few days starting the 26th and we may plan to get a rest(badly needed) for either of us or the three of us. 

Mother stated you had a customer in one of the P. St., houses. Hope so. 

Hope, too, that Henry is doing better. Too bad he lost his right hand man. 

The firing in this company is taking place over a period of weeks and months with a few going at a time. That still leaves me on the fence and my turn may come at the end of the good flying weather for all I know. Damn it--I wish I could get into something I'd be building up for myself. 

Beer still below home brew. Give it another month at least to getgood. 

Best to you all. 

Your brother,

[[Illegible]]