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Charles C. Lawrence
Richard S. Maynard
R. Lawrence Oakley
James A. Edgar

Maynard, Oakley & Lawrence
Members New York Stock Exchange
61 Broadway, New York

Tel. Bowling Green 9-3600
Cable Address "Maynoak"
Teletype: N.Y. No. I-1963

August 13, 1937.

Germain Seligmann, Esq.,
9, Rue de la Paix,
Paris, France.

Dear Germain:

I was more than interested to read the article you enclosed in your letter to me, received a few days ago.

Notwithstanding rather disconnecting news from the Far East, I quite agree with you that the International situation looks much brighter. The situation over here is beginning to line up as I had anticipated and it would not surprise me to see a pretty good market following the Labor Day holiday.

Crop movements will be big, with increased purchasing power. The steel industry is maintaining 82% production during a period when this industry slackens up, and I anticipate pretty good business in the fourth quarter.

I have endeavored to select the right stocks, as the rails, for example, have been disappointing, due to higher costs, and we are pretty well out of these. Your account seems to be moving satisfactorily and I hope by the time you return your list will have given a good amount of itself.

I am planning not to be away this summer, except for occasional days in Bedford, so that you can always get in touch with me.

Now that it is the middle of August, I am beginning to look forward to your return.

Sincerely yours,
J A. EDGAR

JAE-C:

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