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␈↓ ↓H␈↓∧␈↓ ¬X846 Lathrop Drive
␈↓ ↓H␈↓∧␈↓ ¬'Stanford, California 94305
␈↓ ↓H␈↓∧Telephone 415 321-7580␈↓ 	↑February 11, 1977




␈↓ ↓H␈↓Mr. Hanson Reynolds
␈↓ ↓H␈↓Foley, Hoag & Eliot
␈↓ ↓H␈↓10 Post O≠ce Square
␈↓ ↓H␈↓Boston, Massachusetts 02109

␈↓ ↓H␈↓Dear Hanson:

␈↓ ↓H␈↓        In␈α1975␈αI␈αspent␈αmore␈αthan␈α$1000␈αand␈αin␈α1976␈αmore␈αthan␈α$1200␈αon␈αboard,␈αhorseshoing,␈αand
␈↓ ↓H␈↓vet␈αbills␈αfor␈αmy␈αdaughter␈αSarah␈αMcCarthy's␈αhorse,␈αand␈αI␈αwould␈αlike␈αto␈αbe␈αreimbursed␈αout␈αof␈αher
␈↓ ↓H␈↓trust␈α⊃fund␈α⊃to␈α⊃the␈α⊃extent␈α⊃that␈α⊃its␈α⊂remaining␈α⊃resources␈α⊃permit.␈α⊃ I␈α⊃believe␈α⊃that␈α⊃this␈α⊃will␈α⊂require
␈↓ ↓H␈↓liquidating␈αthe␈αtrust.␈α I␈α
want␈αto␈αdo␈αthis,␈αbecause␈α
I␈αdon't␈αexpect␈αto␈αgive␈α
her␈αmore␈αIII␈αstock␈αuntil␈α
she
␈↓ ↓H␈↓is eighteen and I can give it to her directly.

␈↓ ↓H␈↓        Enclosed also is a dividend check.


␈↓ ↓H␈↓Sincerely,



␈↓ ↓H␈↓John McCarthy