Duluth, South Shore & Atlantic Railway
Treasurer's Office
New York, July 27, 1889
W. A. C. Ewen
Treasurer
10 Wall St.
Confidential
E. W. Allen, Esq.
Marquette, Michigan
Dear Mr. Allen:
I have your personal letter in regard to the M. H. & O., stock. I delayed answering it for a few days so that I could give you some positive information. The Canadian Pacific parties have notified me htat they will not put up the money to pay the dividend on the M. H. & O. In other words, they are going to default upon it and try and scare the holders of the preferred stock into accepting something less. This is quite a staggerer. Mr. Seney holds a majority of the stock and I do not think that he will quietly sit still and allow them to depreciate the securities. I am at a loss to advise you as to whether you had better sell out or remain in. You must be the best judge of this. I regret to state that the default is going to be made. You, however, have the first information and must act on your own judgement.
Yours sincerely,
W. A. C. Ewen
