31 Paragraphs 194 to 203, Inclusive.

Mr. George Hay,

New York, N. Y. Dear Sir:

You may be sure we shall not decline your resignation, as we have in mind for the clerkship a young man to whom
25 in point of carefulness you cannot hold a candle. His work is particularly noteworthy because of its clearness; and he. is in fact the nearest
50 approach to an ideal person for the work we have seen. We believe our clientage will be greatly benefited by the change, as he is
75 already a great favorite among them. We have had his application in mind for some time in the hope that you would kindly declare it
100 your purpose to become a voluntary "excom-municant," so to speak. We ask for an early deliverance from further embarrassment.

Very truly yours, (122)

32 Paragraphs 136, 204.

Mr. C. M. Waite,

Seattle, Washington. Dear Sir:

We are pleased to give you a brief account of our financial condition, in a purely informal way and in round numbers as
25 you asked, and also a summary of the stock on hand.

Our net resources are as follows: deposited in the First National Bank, $150,000 ;50 in the Exchange National, $25,500; in the Chemical National, $1,000,000; in the
75 Bank of England, £100,000. In addition to these bank deposits, we have invested in United States Government bonds $2,200,000.100 We have nothing invested in the so-called industrials, or in any of the railroad or municipal bonds. Our government bonds yield about
125 2 1/2% net, which the board considers much more reliable than taking a chance on something promising to net 5 to 10 per
150 cent interest. Our plant here is valued at $250,000. We also have in process of construction a plant at Golden
175 Ledge, the contracted price of which is $75,000. We own, as you are probably aware, the short line which connects us with the main
200 line of the Northern Pacific Railway. It is valued, including the rolling stock, at $15,000. We have outstanding in claims approximately $25,000.225 These estimates will not be more than two or three hundred dollars out, one way or the other.

We have practically no liabilities outside
250 of the contract for the plant at Golden Ledge. We have on hand now about two hundred and fifty tons of ore ready for the mill,275 which will average about $7.50 per ton.

Our Mr. Harding, whom you will remember no doubt, is working on a plan
300 for extracting low grade ore, running as low as 95 cents per ton. His plan seems likely to prove practicable; and if so, we shall
125 have any amount of work for a plant of this sort on the tailings.

We hope that you will soon pay a visit to the
350 plant, and regret that owing to your absence abroad and the uncertainty of reaching you directly we have been unable to keep you better informed.

Yours truly, (377)

Vocabulary

Messrs. Y. O. Hardin & Co.,

Birmingham, Ala. Gentlemen:

Your letter of recent date concerning Col. George King received. It is incomprehensible to us that

this benevolent and independent patriot should be doomed
25 to financial failure. It seems evident to us that his highly developed intellect will dictate a course that will avert such a misfortune.

The distinguished family
50 to which he belongs has for many generations, even before removing from England to America, been famous for its general cultivation and energy, as
75 well as its enormous financial resources - a guaranty, we should think, for its future integrity. It has never been known to be in pecuniary straits,100 but has always been punctual in discharging obligations, either public or private.

Colonel King himself, no doubt temporarily amazed at finding himself occupying this singular
125 position, will emerge from it serenely, fulfilling every requirement and finally distributing patronage as heretofore. The widespread rumors of his embarrassment are to us not
150 in the least significant. Many of these statements are obviously immoderate - frequently the resort of vulgar, irresponsible and untrustworthy enemies.

We believe we have said
175 enough to convince you that we personally have every confidence in the Colonel's financial integrity; and we shall ourselves volunteer to advance him a few
200 thousand or a sufficient and requisite amount - and indeed consider it a privilege - if he but so much as suggests that there is need of
225 funds.

Yours truly, (228)

Mr. James L. Faddis,

Galveston, Texas. Dear Sir:

Herewith I hand you the Annual Report of the

Hardware Manufacturers of the United States, which has just been prepared and published in
25 one volume.

You will note that trade with South America, and especially the islands in juxtaposition to Venezuela, is very light on account of the numerous
50 revolutions hereinafter mentioned, and the consequent neglect of business operations. Merchants, scarce as they are in these small independent countries, have to be very patriotic
75 and loyal, more so than ordinary citizens, as most of their patronage comes from the government. They give up with resignation, and practically without a
100 struggle, a great proportion of the proceeds of their cargoes in order to avoid losing all. You may be sure their goods are not
125 taken in moderation.

Trusting that the report may interest you, I remain

Yours sincerely, (139)

35 Vocabulary

Wilson Manufacturing Co.,

Mobile, Ala. Gentlemen:

I regret to report that boundary disputes in this vicinity are abundant - absurdly dispre-portionate to the population - and this serves but to foster a
25 general doctrine of anything but benevolence, as you will readily comprehend.

Trade in flour mills, of the hand variety, and of all the various makes
50 in whatever quantity, has been demonstrated to be so completely demoralized in this quarter that it will require an enormous amount of energy and collateral,75 as well as the most capable administration, to better conditions and to bring anything like order out of the financial chaos into which the curious
100 customs and the successive revolutions have brought this unfortunate country.

We hope that our next report will be more favorable.

Yours very truly, (123)

Messrs. Z. W. Hart & Co.,

Duluth, Minn. Gentlemen:

It is obvious that the practically incoherent remarks of Dale & Co., concerning their poverty and low financial condition are not trustworthy, as we
25 observe from special reports, the testimony of experts, that although they have been a little behind they have been paying out large amounts on cargoes
50 received from England; and we really cannot understand why they refuse to pay our draft at presentation. It is the opinion of our attorney who
75 is now at our headquarters, that legal proceedings are unavoidable and the only reasonable or successful course to pursue. Hitherto, as a rule, we have
100 found this firm to be punctual in paying accounts that ran into hundreds and even thousands of dollars, and we do not therefore feel that
125 our present demands are exorbitant in any way, as we have merely held to the catalogue prices. It is a great disappointment to discover that
150 we are being treated in this singular manner, and it is incomprehensible to us that they should adopt such methods in their dealings with this
175 firm. It is, to say the least, a degenerate policy - certainly not a testimonial to their fairness.

However, we will, as we once did with
200 your predecessors, upon receipt of your affidavit as to the condition of the business, take a mortgage on the real estate at the valuation of
225 the amount of the account, for three months; but we hope they will withdraw it long before maturity. Permit us again to suggest that it
250 will be better to fulfill this obligation and avoid all litigation, as it is an expensive luxury to both plaintiff and defendant. We await the
275 appearance of your certificate, which we hope will reach us before three o'clock.

Truly yours, (290)