Duluth, South Shore & Atlantic Railway
Treasurer's Office

New York, duly 27, 1889

We. A. C. Ewen
Treasurer
10 Wall St.

Confidential
3. 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 that 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.s Mr. Seney holdsamajority 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 in-
formation and must act on your own judgement.

Yours sincerely,

We. A. CG. Ewen