re Me Ae Browning, c/o Je Me and Ogden, Dear Me Uteh Se Browning Ste May Louis, Moe $1, 1939 and M. COe, Marriner : I have just Browning Company: sent the following wire to the Je Me Se "PLEASE TRANSFER 5000 VIA FEDERAL RESERVE TOMORROW TO Je Me. AND M. S. COMPANY ACCOUNT FIRST NATIONAL HERE WRITING" The above is necessary pursuant to understanding with Gordon when here, since a shipment has arrived today, which was not expected until later and we need some of the guns. for about Gordon suggested that we state our estimated cash requirements this year, which we normally do and the following seems to be what those requirements Je Me will be: and Me Se Browning June $40,000 July $60,000 August $65,000 Company (ineludes <6000 above mentioned) The above is based on what now appears to be Fe Ne 's produce tion for the period indicated, so far as invoice payment requirements are concerned. By August we shall know what remains to be delivered and can then compute our requirements again at that timee In the above we have assumed that our 1939 requirements for duty will be about the same as 1938. No provision has been made to handle the excise tax other than as it has been handled whereby J. Me and Me S. pays this tax the last day of each month and the 5 rowning Arms Company reimburses the Je Me and M. S. Company on the 10th of the following month. If the method of handling the excise tax is to be changed $42,000 then the in June, Je Me and Me 5. account here would require $62,500 in July and 969,000 in August. Based on 1938 experience we estimate that Browning Arms Company on its current account to as follows: about the payments by Ogden will be about