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345 [[checkmark]] Detroit, Michigan, February 3rd, 1908. MR. FRANK G. RYAN, President, Parke, Davis & Company, Detroit, Michigan. DEAR MR. RYAN- Your kind note of February first, together with a copy of statement submitted to your stockholders at your recent annual Meeting, is here, and I appreciate the information. I want also to congratulate your and your associate officers upon the splendid showing made for the year 1906. It far exceeds what I had expected, but then you know I have but little knowledge of the active operations of your Company. With your greatly improved organization, I am very hopeful for the results of the present year. Always sincerely yours, Charles L. Freer