CHARLES A. A’HEARN PENSIONS 230 NEW PARK YORK MURRAY REPRESENTED JOHN POOLE & OCT AVENUE 17, HILL NEW : BROWNING YORK 9-4581-2 SONS, AND E. C. ALN LOUIS 3, By: LIMITED AT 2, 1951 October 5 Whittington Avenue LONDON, VLC oT. LLOYD'S 3, ENGLAND The Treasurer's Office Browning Arms Company St. Louis 3, Missouri Re — Pension Plans for Foreign Branches. Gentlemen: We are in the business of arranging pensions United States and Canadian employers and employees at the above address; and for branches of American organizations Western Burope and throughout the Sterling Area, with the above organization in London. for in In most foreign countries local competitive organizations invariably have pension plans, and your branch, therefore, cannot recruit and retain high caliber employees without one. The benefits provided in these countries are complete security for the employee and his family, and the cost is high compared to the typical American plan. The difference is that pension costs there are a part of payroll, and not something extra as they are here; and these high costs can be the difference between the branch operating at a profit or at a loss. It is, therefore, vital that the parent company retain control of these costs, and this service we can offer you. We shovld like to hear from your executive in charge of branches and subsidiaries abroad whether or not you have a situation abroad where we could be of service? Very truly yours, Chatt 4. Ufa 9 CHARLES CAA'H:PG A. A' HEARN