It  reads  in  part  as  follows :

Relative  to  making  prices  to  the  I.  H.  Co.,  as  I  view  it,  it  will  be  necessary
for  us  to  decide  about  our  advances  to  the  dealers  effective  November  1  next,
and  in  deciding  this  matter  we  can  make  out  a  schedule  of  the  prices  we  pro-
pose to  charge  the  dealers.  This  will  be  one  of  the  elements  connected  with
the  contract  with  the  I.  H.  Co.  In  fact,  they  regard  it  as  one  of  the  prime  or
important  considerations.  They  want  to  know  just  .what  the  advance  is  going
to  be  to  the  dealers  and  have  an  understanding  that  this  advance  will  be  in
force  and  be  part  of  the  agreement  that  we  will  make  with  them  for  their  new
prices.  So  I  think  the  first  step  necessary  is  to  determine  on  our  dealers'  prices
for  1918.  ♦  *  *  If  we  can  reach  a  conclusion  that  is  satisfactory  in  regard
to  the  dealers'  prices,  then  I  will  take  this  as  a  basis  for  renewing  contract
with  the  I.  H.  Co.
