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[[start page]](5) [[Letterhead]][[coat of arms--rampant unicorns flanking shield under [[?]] and over motto 'virtue et industria'[[/coat of arms]][[preprinted]]ROYAL HOTEL, BRISTOL.[[/preprinted]] your reference to Free Press and other affairs- I am not surprised that a scientific audit of the F.P. books shows some bad debts-I fancy the business dep't was carelessly run. I have long felt that the best part of the Institution was W.E. Quimby as writer and editor-and I am confident experience will prove this to be true. As an editor he has fine views and just ones--a rare combination in these days- I have learned a little [[two lines are scored diagonally across the text and "omit" is written in the same color writing]] [[end page]]