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Darien
Aug. 6th 1927

Dr. Alfred E. Stearns
Principal
Phillips Academy
Andover, Mass

My dear Dr. Stearns,

Thank you for your kind letter of July 8th which arrived this morning.
You have done wonderfully well with the banks in the matter of deposits. I have not done so well here owing to little demand for money due to the disturbed conditions in the Far East. Rates of interest have gone down somewhat.
Your letters of February were returned to America and reached me after they had been re-addressed to Darien.
Helen and alfred are thoroughly enjoying their camp life. Alfred has sent me a number of post-cards which

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