Trail’s End, 725 Michigan Blvd., Pasadena, California. March 22, 1932. Mr. Malcolm S. MacKay, 14 Wall Street, New York City, New York. My dear Malcolm: Your two letters of March 9th and 16th received. Thank you for the clipping about Charlie. I always love to get anything that anybody writes about him. Thanks for your statement about the condition of stocks, etc., and I shall not worry any more about the “B” ac- count but do as you say “let it ride”. In going over my books, the accountant insisted on having a complete statement, that is way I asked the company to send it. When it is just tettering [sic] around as it is, it seems very foolish to me to incorporate it in my tax. Maybe next year we can keep it out. It only makes more work and doesn’t do any good and my income doesn’t mean that I pay tax anyway. I feel you are right in not doing anything with your picture just now. I think people are interested in other things and anything in the artistic or luxury line is cast aside for the present. Later, when times adjust themselves, it would be a fine scheme. You certainly will be surprised at Jack’s height. Another year and he will be as tall as you are. I believe he is going over six feet. He is powerful thin but feeling fine and not overdoing himself in school work. However, I am hoping that will come as he gains in weight. My best love to you and yours. Sincerely, [Transcript by Lauren B. Gerfen, 2012-09-05]