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Park Way
st

Dear Billy,

Sorry to hear you were under the weather. Hope you're all right now.

Thanks for your Christmas Card and also for handling the [[Vetnik?]] bank certificate for me. Handy money that.

The cash account does look depleted according to your summary. Mother should accept the V. certificate and gain the interest of course. However, as to stocks — they are bound to start again slowly over the next few months — beginning after the [[last?]] selling (are about Tues. or Wed) Sears Roebuck is a well recommended medium priced issue as I remarked before. Why not buy 100 [[?]] take half out of the Trust & the [[?'s]] saving acct?

We sent mother some perfume — which she may or may not get to use!

[[Schulty?]] is the only bet so what's the use of not keeping things going. Of course his letter tells one side of the story only, but he's right in the [[waver?]]. We wont be [[coming awhile?]] anyway. Improvements — what improvements will he want ?

Has the [[?]] until [[?]]. How does Henry go about if not. I dunno, I dunno how Val's going to come out.
 
Well, seasons greetings all over again
Your brother [[Sam?]] 

Transcription Notes:
Many very faded words make this difficult to transcribe.