May 19, 1961 Mrs. Carrie 8B. P. 0. Box 88 St. George, Dear Carrie: Olsen Utah I was glad to get your letter of May 17th and I appreciate the nice things you said about my conduct of the business so far. I also realize that your thinking is quite logical as to what is to happen in the five, next ten or fifteen years. Regarding the Browning Arms Company stock which is held in your family unit, I suppose you refer to all of it excepting that given to Brigham Young University, which would make a total It just happens that yesterday I sent out of 741 shares, I think. a letter to all of the stockholders together with a copy of a letter from Haskins and Sells, which estimates the present value of our Knowing all the hazards of the stock at $1,013.68 per share. ities, I think that is a fair price possibil future business and its we bought Uncle Matt's family that remember will You at present. stock at share cover a little $600.00 per We were offered recently latter indeed proved stock years ago. in the Bell and two Howell Company, which at the then market price of their stock would have amounted That, of course, was for the to something over $1,400.00 per share. when it constitutes the valuable more is whole company, and stock This deal, however, fell company. a of p control or total ownershi points up the lack of this and ns, through because of FN ebjectio and FN, since company our between adequate contractual relations personal upon more d conducte been our business has in the past all of since s contract on than contacts and relationships with FN course, of is, This ago. time long Daddy's patents have expired a a position in be To future. the one of our very grave weaknesses for great very a is ours of where FN can veto any prospective move Bell and Howell offered us a bonus of more than that weakness. amount per share providing the company would perform in the next Naturally, five years as well as it has in the past five years. ship with relation they had in mind the management situation and the FN, which consummation of the deal. to be the main obstacle to the