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9/5/13

H. E. Dreier, Esq.               £ 5,209.17.7

On 1,155 Shares         1,732.10.0
On   577 Shares           865.10.0
On   577 Shares           865.10.0
On   577 Shares           865.10.0

Making a total of . . . . . . . . . . . . . 4,329.0.0
           leaving a balance of . . . . . . £ 880.17.0

for which we have received settlement from the Brokers. The only item to be deducted from this is the cost of our cables 1.8.0

which makes the net balance in your favor   £879.9.7

and for this sum we enclose our cheque. This completes the financial part of the transaction. After the remaining instalments (for which cash is in our hands) have been paid and certificates for the new shares are in our possession we will advise you.

In addition to the Allotment Letters for the shove 2,886 shares which we hold, there were Allotment Letters to you and sisters for together 575 shares, being 1 in 5 on the amount sold. The Brokers hold these Allotment Letters, as they belong to the buyers, but as they are issued in the names of yourself and your sisters it is necessary that transfers should be executed for them. We therefore enclose a transfer from yourself for 230 and 115 shares and also transfer from Mrs. Robins for 115 shares, and we shall be glad if you will have these executed as you did before and return them to us. The transfer for the remaining 115 shares we are sending direct to Miss Dreier for her to execute and return.

Yours truly,

For Naylor, Benzon & Co., Limited.
(
Signed) I. J. Nevan
Secretary.