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The minutes of the first meeting are very clear and acceptable. Do you include in your next minutes, as a matter of record, that I accepted the Presidency by telegraph? There is no date on my copy of the meeting, by the way. Simply says at three o'clock. Is the joke on youse?

Next we come to aerial photography, by C. Oren Smith. Comawn! Where do you get that way. Wasn'tvthat News Letter stuff. What you'd better do is to let the News know that several of the articles you put in to help them fill up space, [[inseculled?]] form various sources. And in cases of this sort I suggest that no name be used. No use butting in too far. Keep the personal names for original stuff.&&&& No harm meant, now.

Wait a minute-- let me suggest again that you number your pages. And when Banksies fingers itch after a letter has been typewritten, how about using a clean sheet of paper instead of gumming the works by that hard reading back page stuff. Shades of the writing of Capt. A. R. Brooks!! Has him beat!!

The Woods Hole preposition might be worth while even though, according to the latest papers the President isn't going to stay there. What I mean is that we ought to line up all available field at or near seashore resorts for there is a mint to be made in such places when operations begin. You say there is"no need to be greedy" but I say lets be as damned greedy in as efficient a way as possible. We want to declare a100% divident soo you know---No we don't either--we want to turn it back into stck and buy some air liners:

News to me--that affiliation of the two aviation clubs. But I'm glad to hear it if it is true because it is absolutely for the best interests of aviation in this country.

OFF any 700 dollars and ten percent for the Howard chap at Falmouth. What does he think we are doing-- working for Howard? That proposition will be all right IF we get the proper concession. Worth investigating, anyway.

Rather neat-your idea on the props. I don't see why twenty dollars wouldn't be a reasonable price. And going a bit further--if the parties you expect to sell them to are able to pay for a propellor to grave their den or otherwise it seems to me that they can afford at least twenty five bucks. Greedy ain't I|Good stuff on your part, though, no kidding.

Turn my stock over to my brother Billy. I'd rather settle with him when I gethome within the next few months if all goes well, and then I can fix up any transfer of stock for him or otherwise pay him for doing me turns.

Glad you got the aerial map, Idon't know exactly how accurate it is, but from time to time from now on, I expect maps will be made more extensive and embracing all the time and its good to get our name on their mailing list.

Financial statement for partnership O.K.

Fine about Doon. He can help us a lot. Keep after him.

I hope to go on that American Flying Club trip from [[?]] New York to Boston, don't you forget it. Going to be SOME part e.

O.K on the opening of the account. Which bank?The National I suppose.

Cooperate Sealis O.K. too.

Now then on the Printing--- I ave been doing some printin [[?]] for my squadron in the past months, and as it happened I lately compared prices at the place I'm having my work done and found them ridiculously low as lined up with other printing house in San Antonio. So I have the right place to do this kind of business here and furthermore