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December 16th., 1932.

Dear Henry:

Many thanks for your letter of December 13th., in which I found the very interesting Memo covering the Mobile & Ohio Equipment Bonds, which I have read with a great deal of interest.

I shall take your advice and hold on to these bonds for the time being.

With renewed thanks for your promptness in sending me this information,

I am,

Yours very sincerely,

(Germain Séligmann)

Henry Siegbert, Esq.,
Adolph Lewisohn & Sons,
61 Broadway, N.Y., N.Y.