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915 Union Trust Building,
Detroit, Michigan,
February 6th, 1908.

Henry Russel, Esq.,
Cars, Legal Dept., Michigan Central R. R Co.,
Detroit, Michigan.

Dear Sir:-
Confirming my statement made to your Mr. Boyne over the telephone, Mr. Freer has received from Parke, David & Company 100 shares of said Company's Stock, Mr. Freer thus having received from you, Certificates representing all of the shares of Parke. Davis & Co. for which he has paid you.

Very truly yours,
JM Kennedy