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Parke, Davis & Company,
(FOUNDED 1866 - INCORPORATED UNDER THE LAWS OF MICHIGAN, U.S.A.)

Laboratories.
Detroit, Mich., U.S.A.
Walkerville, Ont.
Hounslow, Eng.

Home Offices and Laboratories,

Foreign Branches.
London, Eng.
Sydney, N.S.W.
Walkerville, Ont.
Montreal, Que.
Bombay, India.
St. Petersburg, Russia.
Tokio, Japan.

American Branches,
New York,
Chicago,
Kansas City,
St. Louis,
Baltimore,
New Orleans,
Boston,
Minneapolis,
Seattle.

Cable Address,
Parkedave.

PRESIDENT'S OFFICE

Ansd Feby 1st

January 26th, 1915.

Mr. Chas. L. Freer,
C/o The U. S. Grant Hotel,
San Diego, Calif.

Dear Mr. Freer:-

I wish to acknowledge receipt of your letter with reference to the thousand shares of stock about which Mr. Hargreaves sent you inquiry.

A few days ago Mr. Willis Buhl asked me if I could obtain for him 1000 shares of stock for purchase, which will account for Mr. Hargreaves' letter to you. At the Annual Meeting today I had a talk with Mr. Buhl and told him that I could obtain 1000 shares for 110 or 111. He stated he would not care to pay that price for it, but made a firm offer of 105 cash for the thousand shares. I told him I would let him know in a few days whether this offer would be accepted. Kindly drop me a line and make known your wishes in the matter.

For your information I would say that a few shares of stock were sold yesterday in Detroit at 113 - the highest price I have heard for it in the last two or three months. I purchased some myself about two months ago at 109. This will give you an idea of what the market is at present. There seems to be no large amount of stock available.

The Annual Meeting passed off very smoothly this morning, nothing of moment occurring, and I am happy to say that, notwithstanding the great difficulties in doing business during the past year, especially abroad, we have been able to report an increase in sales and an increase of about $21,000 in profits over 1913. I think we have done splendidly to hold our own in this way, and hope that 1915 will be no less kind to us.

I can appreciate what you have to say about the beautiful weather in San Diego and would not mind swapping some of Detroit's snow and ice for a portion of your ozone: it is certainly wintry enough here.

Hoping that you will thoroughly enjoy your winter in California, and with best wishes, I am,

Sincerely yours,
Frank G. Ryan

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