719 xxx July 21, 1961 Mr. Joseph E. Olsen, P. O. Box 88 St. George, Utah Dear Sr. Joe: You will have received by now the Notice of Special Shareholders Meeting of Browning Arms Company, a Commitment and Power of Attorney, a Proxy for Special Meeting of Stockholders for the purpose of making certain amendments in our Articles of Incorporation, and an explanation of our proposed stock offering, with a return addressed envelope. Since receiving the letter which was signed by Carrie, in which you gave reasons for selling your Company stock (reasons with which I thoroughly agree), then your letter in which you asked for an offer on the stock, and then your letter in which you stated that Carrie's family block would be for sale in its entirety if the price were per share, I presume Power of Attorney authorizing the minimum price would be a net sale of $1,800.00 all of your a share Commitment the return you will that $1,400.00 and stock, since for you. It was very largely on the strength of your aforementioned letters that we have taken the steps necessary to get a good price for the Please return this Coumitment without delay, or I should stock. say, these Commitments, because one was sent to each of the stocke holders in your group, as it is extremely important that we know If you how much stock will be for sale before proceeding further. explanation, the in answered not are which have any special questions John Val, who is thoroughly acquainted with all of the details, will be glad to talk to you either Tuesday or Wednesday morning either I hope to get away tomorrow for a in his office or by telephone. short vacation. For your information, I have disposed of most of my stock, as I told you once before, and I expect to commit myself for at least I also am going to advise Jack, Elsie, half of my remaining stock. Monida and Elizabeth to sell at least one-third of their holdings, because I am not at all optimistic about the future of the arms business and I would like each one to get something back in cash Actually, if they sold which they could put into other securities. one-third of their stock, they would be getting as much as Marriner's family got for all their stock, and that was quite a bit more than anybody thought it would be worth ten years ago. Hoping to have these documents returned to the office week and with love to Carrie and the family, I am Sincerely, VAB: DHB early neat