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material but also as mailing pieces by many firms in distributing information and recommendations to their clients. It is in this fashion that the initial impact of our bulletin mailings is multiplied. While our regular initial mailing comprises about 13,000 names, we have distributed as many as 60,000 copies of a single report, with more than 45,000 of this total representing requests from dealers for additional copies.

We recognize that a high-grade security analyst with the necessary experience could prepare satisfactory reports similar to our own. We know of no agency, however, that has the manpower and the necessary experience to activate this material by literally thousands of calls on brokers in a year's time. This is the unique phase of our operation and the key to the success we have achieved for our clients.

The fee for our services is believed to be nominal for the size and calibre of the personnel which would be employed on behalf of New York Airways. Our regular fee amounts to $1,250 per  month and to this would be added the direct expenses incurred on behalf of the client. Such expenses normally will run around $8,000 - $10,000 annually, the major portion of which is the cost of printing and distributing our bulletins. Also, the cost of any reports prepared for stockholders is not included as these normally would be prepared by the company, regardless of our services.

de witt conklin Organization

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