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Maynard, Oakley & Lawrence MEMBERS NEW YORK STOCK EXCHANGE 61, BROADWAY, NEW YORK CHARLES C. LAWRENCE RICHARD S. MAYNARD R. LAWRENCE OAKLEY JAMES A. EDGAR TEL. BOWLING GREEN 9-3600 CABLE ADDRESS "MAYNOAK" TELETYPE: N.Y. NO. 1-1963 August 15, 1938 Germain Seligmann, Esq. 9 Rue de la Paix Paris, France My dear Germain: Many thanks for your letter received the other day. I haven't done very much since my last letter to you expect building up slightly your cash balance and taking a profit on Chesapeake and Ohio. I am planning to be away for a couple of weeks now, so I have entered orders to buy a few stocks on further weakness in this market, which might happen while I am away. I rather feel that we may now see the long-overdue secondary reaction, and I would be willing to take advantage of it as business reports all show slight improvement, which I rather feel should continue well into next year anyway. The market, as I felt, was too optimistic, and now business is beginning to catch up with it. I am glad to be off for a bit of a holiday, as the summer has been very unpleasant, with a lot of hot weather. I did want to drop you a line, however, before I left. I have been in touch with Robbin, and everything is in order. I told him that I could be reached if he wished to get in touch with me. Sincerely yours, J. A. Edgar jae/sb
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