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OFFICE OF
ESTATE OF LELAND STANFORD
AND
JANE L. STANFORD
819 MARKET STREET
San Francisco, Cal.

San Francisco, Dec. 27th,1901.
Mrs.Jane L.Stanford

Dear Sister:-
Yours of Dec.19th was received yesterday and I am pleased to know that you take the same views as myself on regard to Mr.Platt's compensation. He has been doing a great deal of work and it has consumed a greatdeal of his time. I received a communication from General Hubbard and he also approved of the same and requested the Board take action at the next meeting. It seems the raise in his salary is to take place from the first of January next.
I am glad that you did not suffer from the extreme cold and that you were able to keep the car warm, considering the low temperature that you experienced enroute from Chicago to New York.
I was receipt Christmas morning of a telegram from you which I answered yesterday, in which you said that Speyer & Co. offer you 500 one thousand dollar Clevland & Pittsburg 3 1/2% first mrtgage Gold Bonds, prinicpal and interest gauranteed by Pennsylvania R.R. Prince demanded 105 and interest. The price seems long for the amount of interest they pay. I wired you yesterday that the University has $1,500,000 of these bonds which were purchased after the sale of your S.P.Co. stock. These bonds are all registered. My own impression is that at the time the Market St. Stock will be disposed of and paid for which will be March first next, that securities will be very much cheaper if not it might be advisable to hold the money out a little while even if you did not get quite so much interest as 3 1/2% bonds. The dividend of the Market St. stock is only 2:40% while you get 2 1/2% for