My Dear Father,

My succession duty comes to £217. & I shall save £14.10 by paying at once.¹ Times will be bad this Christmas in the banking way, or I should simply pay it off with the rent & have done with it. I have been thinking of the following plan.

As you are generous enough to pay $\frac{1}{2}$ my Overend loss—namely £105—suppose you were to pay me that now, and also to invest £100 in me at 6 per Cent to be paid by this time year. I would sooner borrow the £100 at 6 per Cent, as I otherwise do not fairly save the £14.10 as discount from the succession office. & if you did not mind doing this; the simplest plan would be, to pay me £100 for Overend, & lend me £100 to paid by this time year.²

I shall have to pay you about £175 as dividend after Dec 1^st.. I have heard nothing further as to Penarth.³ I am delighted to hear 1200 copies are sold, and hope you are up to your mark for London⁴

Your affect son | W. E. Darwin