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Written at Hadley Field
New Brunswick N.J.
June 13, 1933 

Dear Billy:

Thanks for the insurance rider. OK by me.

Your dope on the local conditions for painting are of course better than mine at long range. So long as you get an Ano.1 job with the best of materials that is all that counts. I will say thoughxx [[though]] that any painte in business of good standing carries his own insurance so I don't see where we have to pay for the same in addition to the contract price.....

About the market I'm naturally a bit concerned. In my last letter about stocks I specifically mentioned ATT and FST, both of which repres nted [[represented]] that type of income bearing stock which I had in mind for estate funds, with the added incentive of a good rise in price. The rise came in both of these as it happened but tha [[that]] is now wate [[water]] over the dam. What I can't see is how you pick United Corporation which, although it has an appreciation possibility, is more speculative than the Estate fund ought to be used for and certainly isn't recommended by any authority in the same category as either of the two I mentioned. If you three, after all this waiting during the months that I have been after you for action, decided that United is your hobby, then I'll ride it with you. There is good chance of a technical reaction at this time but over the next year the trend, in my opinion is unmistak able upwards. All I had in mind was to secure a better income than you were getting in the bank, plus a good chance of appreciation. FST would have been the thing as an example. I don't know what else to suggest now that the yields are off. I don't think any good stock will throw you in a rising(long range) market but I do now that in the utility field the best recommended stocks today are Columbia Gas and Electric, and Consolidated Gas of N.Y. In the oils Atalantic Refining or or Std of N.J. are the two solid best bets over the long run. In the rails of Pennsylvania is probably good for 35 or 40 for the mov. I'd like to knwo what Uniteds' tip is based upon?Morgan is all rightbut.....the funds are estate or trust in their nature.

My hearing has gone bust and I may be all through f flying for life according to the doctors and specialists here, unless I want to take a chance of being stone deaf. That means look for another job pronto I guess. Maybe they'll send me away to get a quiet rest away from the noise of planes until the ringing I have continuously in my ears dies down if it is ever going to do so. Damned annoying and disheartening after 15 years. 

You can get the dope from Denny if you want too but I rather had in mind a camp without the fuss of drees in YE INN. 

Hope all are well up there.Best to you all.

Your brother 

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