I have the pleasure of your esteemed favor of the 5th. I am willing to take your say so as to the paying qualities of the roller mill, because I have every confidence in your judgment and I believe you have given the matter thorough investigation. We lost money like shot out of a shovel in our Mebane Mill, but that was partly because of bad management and partly because we did not have the right sort of outfit, I reckon, but I am not in a position to take $12,000 worth of stock in the roller mill plant here. I have been induced to take stock into almost every character of industrial enterprise sta[r]ted in the state until I have bankrupted myself in ready money. From the Atlantic Hotel, at Morehead, to Cherokee county, almost every where, I have invested, which means ready money as none of them as yet are paying anything, and the consequence is I have not the cash to meet all my wishes in this particular. I wish I had. I don't see my way clear possible to take more than $1000.00 of the stock in the mill, and would not consent to take that only as an accommodation to you, because I want you located at Durham. I want some bright, reliable enterprising business man to help me push Durham. I have carried the load almost along until I am growing weary and tired. I can take the $15,000 which you say you would like to put into a roller mill and make a heap more money than you are going to make out of a roller mill, and make it a heap quicker, and then you can establish the roller mill in addition. I can control the land companies around Durham, and it will require $15,000 in cash to run the matter six months, but in six months I think we will have realized over and above all expenses anywhere from $30,000 to $60,000. The lowest calculation say $30,000, and I believe within 12 months we can realize in all, if not quite, $200,000. I have been thinking of mentioning this matter to you. It beats rollers mills to death and your are the man to take hold of it. I can control the property, I think, and we can build at Durham 2 big factories, a good hotel, a bonded warehouse, a public school house, a Y.M.C.A. building, hospital and the roller mill, and I believe it can all be done in two years off of your $15,000, and we would own the property excepting the public school, the Y.M.C.A. building, and