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644 (447) September 13th, 1898. W. A. Pungs, Esq., Detroit, Mich. My dear Mr. Pungs:- I have given further thought to the matter discussed by you and I yesterday and while I thank you very much for the opportunity you gave me to join the enterprise, I have concluded that it would be unwise for me to do so. I have been attempting for the last two years to reduce my investments to a smaller number of concerns, and have found that by doing so I have more time to give to matters outside of business. I have great faith in the business you intend to organize here and were it not for the facts mentioned, I would be pleased to join therein. Yours very truly, Charles L Freer