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2/15/15 NAYLOR & COMPANY (INCORPORATED) 45 WALL STREET, NEW YORK #2 Dear Dodo, In my other letter I wanted to mention that the balance of your warrants will be subscribed for by Carey & Co. & then sold as soon as the price advances. The Warrants are very low now, otherwise I would sell them at once, but you will make more by doing as mentioned above. I think I wrote you about the sale of my control rights which have since gone down, so it turned out very well so far. To-day it is very warm again, over 50° F. I hope it will soon change. Raymond is going on a tour to lecture at the various colleges in the middle western states starting about the end of this week. Your bro., Edw.