Unit 27 Transcription Key

     207.  Reading and Dictation Practice
            Dear sir: Your letter on the subject of reorganizing the Merritt Valve
            Corporation on a more stable basis has been carefully analyzed
            by Mr. Hoskins.  It will be of value to you to know
            that a sound but elaborate plan has been outlined
            that will undoubtedly establish the business on a solid financial
            footing.  We have presented the essential details to the prominent
            bankers in this territory and we are also negotiating with Philadelphia
            and New York banking houses.  The preposition is more than ordinarily
            appealing to them; their attitude is entirely fable and withering
            there will be no difficulty whatever in floating a bond issue
            that will render further temporary loans unnecessary.  It is
            suggested that the bonded indebtedness be increased from $5,000,000
            to $10,000,000 and that the common stock be increased
            by 10,000 shares by calling in the present issue.

            The enclosed
            data will give you full particulars.  Very truly yours,

            [159 words]

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