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CONFIDENTIAL.

#915 Union Trust Building,
Detroit, Michigan, 
November 13th, 1905.

My dear Truman:-

Mr. Hargreaves spent last Thursday Evening at my home and gave me a gratifying report of the kind reception accorded him by his associate officers at [[strikethrough]] the [[/strikethrough]] P. D. & Co.'s establishment. He feels quite at home and is already much interested in his new field. He has been invited to familiarize himself with the Mechanical and Scientific Departments, as well as the finances and office work.
 
At the request of himself and Mr. Ryan I lunched with these two gentlemen at the Detroit club on Saturday, when a full discussion was had concerning the directorate.
 
We all realized that your experience, and [[strikethrough]] a [[/strikethrough]] knowledge of the Company's affairs, peculiarly fitted you for the directorship. And your resignation from the Board, if it must come, will be greatly regretted by all. If you still feel that you cannot remain a director, I have at last decided that I will take your place temporarily, provided my views, as set forth in the accompanying letter, meets with your own approval and that of the other directors.

I explained to Messrs. Hargreaves and Ryan the conditions under which I would serve and we three mutually agreed that the first step to be taken was to write you frankly. This, I have now done, as per the enclosed formal letter.