My dear Father,

I dare say you do not care for the Dutch Government Bond paying 3$\frac{3}{4}$ or the Dutch guaranteed Railway Bond paying about 4$\frac{1}{4}$ which I mentioned a week or so ago, so that I think you had better continue the United States Bond at 3$\frac{1}{2}$ per cent as they are perfectly safe. The Union Bank will manage the renewal for you if it can be done; but I am not sure that the U/S. government will renew all.¹

I suppose you would not stand the following investment to the extent say of £1000; I am convinced in a few years it will be paying 7 to 8 per cent. Antwerp Water Works Company limited   Horace’s friend Easton is the engineer and I know has a very large number of shares, a friend of mine is Managing Director and lives at Antwerp.² The Company has to supply the whole town of Antwerp which is growing immensely Herbert Norman³ is a director and has a very high opinion; the shares can now be bought a little over par.

I do not expect you to go in for it, but could not resist mentioning it.

If the United States will not renew all your Bonds, Manchester Corporation stock will pay you 3$\frac{1}{2}$ per cent.

I am going on pretty well, but not entirely right yet— Sara is marvellously well.⁴ I am so sorry Horace & Ida cannot go with you⁵

Your affect son | W. E. Darwin