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152 In five years we have paid the following dividends Jan 1, 1922 stock dividend $1178600 Cash = 1922 Com. 400 724 Pfd 5600 " 1923 " 1 210 572 " 5600 " 1924 " 641,844 " 5600 " 1925 1 141 056 " 5600 " 1926 1 105 398 5600 ---------- --------- In all = 4,499 594 28000 or about 1000,000 yearly in dividends average in five years, putting about 1,400,000 in reserves so for every dollar in Dividends $1.40 in reserves. [[underline]] March 21 [[/underline]] [[strikethrough]] Req [[/strikethrough]] Sent letters to Geo and office and Hays also [[underline]] French [[strikethrough]] cont [[/strikethrough]] proposed [[strikethrough]] coct [[/strikethrough]] contract and By laws [[/underline]] and my comments to special delivery to office. Also 2 telegrams one to Geo. B and one to Hays, announcing the latter his letter about R&H [[end page]] [[start page]] 153 [[underline]] wanting to sell, [[/underline]] dated Mch 9 arrived only yesterday Then went to [[underline]] Lauderdale [[/underline]] by motor bus, to inspect ^[[Yacht]] [[underline]] Hassee, at Pilkington's Yacht yard. Was astonished at the marvelous road and all the buildings [[/underline]] which have arisen on this route since [[underline]] 3 years. [[/underline]] Undoubdetly overbuilt and now the reaction. [[underline]] Everything quiet. [[/underline]] Saw a 12 foot [[underline]] Alligator [[/underline]] on the ^[[opposite]] shore near the [[strikethrough]] Brush [[/strikethrough]] bush, sunning itself right near Pilkington's Yacht yard. A young man [[underline]] Francis [[/underline]] West Pompano Beach Fla. near Lauderdale is in charge of ^[[Yacht]] [[underline]] Hassee" [[/underline]] which I inspected. To morrow shall send a telegram to George B