Herewith he encloses a draft on New York for $125, the sum received for the bonds. This is the best he could do; 25¢ on the dollar is the highest that can be paid. The current price is 20¢ in cash or 25¢ in bonds. After writing to McFarland last week he learned that the city would likely be compelled to cease paying cash as a result of a judgment likely to be rendered against it. Hence the telegram for the bonds. Judgment was rendered against the city but an effort is made to have the case reconsidered. Had it not been for that the bonds could not have been sold. He hopes the disposition of the bonds will meet with McFarland's approval. If he can do anything there for McFarland, he is to let him know. :: I-1-c A.L.S. 2pp. 8vo.