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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