SALT LAKE CITY, October 23d, 1889. David Eccles, Esq. Ogden DEAR BROTHER: We, as a committee from the Grant Bros. Co., appointed to secure purchasers for sufficient stock in said company, to pay all of its liabilities, respectfully solicit you to invest with us. The company was started a little over three and one-half years ago, and there has never been a dollar of dividends paid, until the first of the present month, when there was two per cent. paid for the quarter. During the time that the company has been in existence money has been worth ten per cent. annum, so that the stockholders that originally invested in the company have paid 130 per cent. for their stock. Now that the business is on a paying basis we ask our friends to invest in stock at par; and at a fair valuation of our property we think that the stock is worth this figure. In case there is not another transfer war there is no doubt in the minds of the Directors, as to the ability of the business in the future to pay a dividend each quarter of two per cent. Our second fight only lasted about three months and then we were able to purchase the outfit of our competitor at about fifty cents on the dollar. In case there is no falling off in the business that we are now doing, there is not the slightest doubt in our minds as to the company’s ability to pay at least eight per cent. in dividends. We do not look for a third transfer war, at the same time in case one comes, we wish it understood that there will be no profits on the stock in our company, as one and all of the present stockholders feel that they are on hand to lose every dollar that they have in the business, sooner than sell out to save a share of their money in case a fight starts. We feel that the company has “come to stay” and that it is a good investment. We have no stockholder less than $500, and we shall be pleased to have you take that amount of stock and as much more as you feel able to. In case you feel that you cannot take $500, we will be pleased to have you as a member of the company no matter how small the amount may be. Please favor us with an early answer and oblige, Yours sincerely, H. J. Grant. Wm H Rowe H COMMITTEE
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