es ; oe | + oe January Mr. &oGe 2,1933, Bennett, Washington, D.C. Dear tlbert: I of Lambert I went market Close ation have stock, over to Hogles somewhat above for the letter with of Decemer 3th enclosures a while lows of this last which see what directors | is that I shall most keep of an on I am the subject returning. morning, but found week. Lambert was to 23, and I decided to weit awhile. you have obtained, I was inclined to market, but the rule ed by reactions, and and your together the pretty In view of the informput an order in at the eye slight on the advances are followboard for a few days settlement signed by happens. have The been offers of submitted to Yoolley, and he has the State in turn Bank handed them to Thomas and the Depositors Committee. These offers, according to Young, are acceptable to Woolley and, if they are approved by Thomas, the matter will be closed, Young is very hopeful that a few dgys should suffice to consumate the settlement, and if this fore- cast is realized, all I conference, chaotic and think it will be cancel led. was wise to that with all your heads conditions may be given orderly hope present claims have Val come over together for the a rather shapese I shall be glad to have you discuss the Implement We had all pretty well agreed that there seemed proposal with M.S. the offer little or no chance to revivify the business, om although in itself might make one believe that our pessimism was not wholly or at least that the Eccleses had some reason for a justified, degree of optimism, ‘uring the past still it struck me that the deal was about as If you and Marriner want to stand pat am rood © suess.as eny. take a chance on holding the preferred stock as it is, I shall have In that event I should assume that it would be a no objections. lone time before interest could be paid, whereas if we accept the present offer interest payments on the debentures would be mueranteed by the Eccles Company and would immediately become productive. I congratulate you heartily upon your accomplishments few months, and have enjoyed the published eulogices, With best regerds,