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54 -2- I trust you will succeed with your proposed organization, and I have no doubt that if you put the thing through it will be upon a thoroughly conservative basis. Referring to your suggestion that I accept a directorship in your proposed company, and appreciating your kindness, I regret to say that I must again beg you to excuse me from becoming identified with business matters of any sort that might interfere with my complete freedom. Let me again suggest that you invite Mr. George H. Russell to act as your Detroit director. He is President of the State Savings Bank, the largest banking institution in Michigan, has been the President of the American Bankers' Association, is well known throughout the country, is popular, able and honest, and for many years he has been identified with a number of large manufacturing industries, so you will see that he is especially well qualified for the place in question. Yours very sincerely, Charles L Freer J.S. Auerbach, Esq., Care, Davies, Stone & Auerbach, Mutual Life Building, #32 Nassau St., New York City.