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21 -3- At my suggestion, Mr. Smith said he would be pleased to meet your representative here should you care to send him, or, if you prefer, either he or Mr. Berry could call upon you at any time and execute an option for the sale of the property. The machines, mentioned in my telegram as valued at about $5,000.00, they may or may not desire to sell, should you purchase their good-will and business. The manufacture of brake beams by the Monarch Company is done in a plant owned by another corporation, which carries on other lines of business, and the tools used for making brake beams may, possibly, be of use to them in some other direction. Should they prove to be of no use, then they would expect you to purchase them at about $5,000.00. I have said to them that in the event of your organizing the proposed company and buying the Monarch plant, you would want free hand in the organization of the company, and that you would not care to assume any contracts which they might have with employees, whether under contract or not: would have to pay its own debts, collect its own accounts, and turn over the business clean and free of debt. This they propose to do by paying