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[[pre-printed letterhead]]
Savoy Hotel Luxor     |   Hotel Beau Rivage Ramleh
  (Upper Egypt)       |      Alexandria (Egypt)
Teleg.Addr : Savoy, Luxor | Telegr.-Addr : Beaurivage, Ramleh
                      |   Teleph. 186, Ramleh
Open from November-April | Open all the Year Round

[[centered]] G. & M. Runkewitz, Proprietors [[/centered]]
[[/pre-printed letterhead]]

Luxor, Jan 15th, 1907.

[[note in pencil]] [[underlined]] omit [[/underlined]] [[/note in pencil]]


My dear Colonel,

Thanks for your long, interesting letter of December 19th containing statements of account of Free Press sale, all of which are very full and explicit.  Of course, the sale was a master stroke for yourself, Truman and myself.  But, I fear, Will's political chances have not been bettered by Phil's connection with the paper.  Financially, however, the present owners have fine possibilities.

Thanks too, for statement showing anticipated debts of the [[Sheem?]] Co.  Let me leave all this to your good care.  Stephens, Berry & [[Sheem?]] make me ill.  I hope the McMillan monument fund will find no lack of interested supporters.  It deserves them.

Your description of incidents leading up to the consolidation of the State & People's Banks give me a perfectly clear understanding of the matter - the details of the public opinion as expressed in the newspaper clippings received are also interesting.  I am glad to have all, glad the consolidation has gone through so perfectly, glad to see the State bank made 
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