Fire wee = i saa Accident & Health oon JOSEPH Every 515 Security Casualty @ Judicial & Probate Bonds wee Annuities E. OLSEN INSURANCE Need Bldg. - 102 North Douglas 9247 Brand Blvd. Glendale, California December Mre Val 1205 Security Ogden, Utah. Dear Ae 29, 1959 Browning Bank Bldge, Vals: Last April I left with you some minutes relative to the Trust wherein was outlined a plan to distribute the Company stock to the various beneficiaries. The reasons for this proposed distribution are soley to avoid being caught with new taxes that are now being considered in California, as well as proposed Federal property tax measures that are likely to go into effect if our armament costs and other governmental expenses continue to soar. When the California Assembly meets in the latter part of January it will consider revenue measures almost entirely. In call of the Governor.We can fact, that is the sole purpose for the look for substantial increase in income, estate, current get inheritance a property above tax a certain and on other securities amount. The taxes, also the individual where state, we are likely holdings as you no doubt know, to are is infested with various old,pension groups. The pressure for substantial old age pension increases is getting terriffic. They are going to get e, substantial pension increase, together with a lowering of the eligible pension agee The cost of meeting this is going to be put on the backs of those that have as far as possible and etce The guestion of guardianship for the children if we distribute the Company stock to them is one to consider. should If this can be worked you act out satisfactorily I would prefer to have as their guardian. Please give these matters some thought and let me know your views so that we may make the transfer, if at all, this yeare I am perfectly willing to be governed by your wishes and judgment in this matter entirely. At my very counsel We ay a the close of this year may I express to you, and to Marriner, best wishes and to assure you of my readiness to abide by your and recommendations at all times. are all \ ; well and trust that all Sincerely, is well with you and yourse