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618

Aug. 22, 1896.

(2)

circumstances it would seem to me that the meeting had better be held in New York, so as to insure a quorum. If yourself and the Senator, Mr. Turnbull, Col. Hecker and myself can meet at the Guaranty Company’s Office on Wednesday next the 26th our quorum will be insured.

I have wired Mr. Turnbull this morning, to know whether or not he will be in New York on the 26th, and I will let you have his answer on Monday next, so that it will reach you simultaneous with this letter. Of course, it would be desirable to have Mr. Hugh McMillan also present, and if you think wise, will you wire him accordingly? We will notify Messrs. Thompson and Morehead by wire, but I am under the impression Thompson is in Europe, and of course, Morehead will scarcely attend. The Colonel couples with his suggestion of a Board meeting, the idea that with a surplus, small though it be, in excess of the amount disbursed to the stock and bond holders criticism might come later from the preferred stock holders. Now if the Board takes action and decides to pass the dividend, there can be no criticism attached to the Board as regards lack of official action.

On receipt hereof, kindly wire me stating whether or not the Senator and yourself can attend the meeting and in the event of your not being able to do so, let me have your views by wire concerning what action we can take under the circumstances. I can add that so far as my personal feelings go, they are the same to-day as when you and I last discussed the matter. I know Col. Hecker feels practically the same, that is, his views are that we should keep strong as possible, particularly in view of the dull period ahead; on the other hand, he is not opposed