stefansson-wrangel-09-15-065-001

TORONTO, ONTARIO,
Bank of Hamilton Bldg.,
April 15th, 1924.

V. Stefansson Esq.,
c/o Harvard Club,
27 West 44th St.,
New York,
N.Y.

Dear Mr. Stefansson:-

Your letter of the 13th inst. received ask-
ing for details of the shares in the company held by the
boys and how they came to purchase these shares.

In August 1921, the exact date of which I am
not quite certain, it was however the day before they
sailed for Nome I visited the boys in Seattle at the Hotel
Frye and met Allan Crawford, Lorne Knight, F. W. Maurer
and Galle and went over all the expenditures they had made
up to that date. It was during that visit that Allan Craw-
ford expressed a keen desire to become a shareholder in the
company to the extent of 5 shares, but did not have the
money to pay for them outright.

I suggested that since he was anxious to be
a shareholder that he could authorize the company to deduct
from his salary an amount each month to be applied on the
purchase of these shares, the amount determined by him being
$50.00 per month. This arrangement - as explained to him at
the time - was subject to your approval, which was later re-
ceived.

At this point Lorne Knight mentioned that he
also would like to have shares in the company, and he placed
the number at 10, and that $50.00 be deducted from his sal-
ary until such time as 10 shares were paid for.

Both Crawford and Knight signed a form written
in longhand by myself subscribing for 5 and 10 shares res-
pectively and authorizing the company to deduct from their
salary $50.00 per month until the shares were paid for in
full; the shares being at $100.00 par value this meant that