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Worms & C°

Cardiff, 7th December 1917
Messrs Worms & C° - Paris

My dear Hypolite,
Since I wrote you on the 30th ult., I have been busy trying to pick up "oddments" at reasonable prices, and owing to negotiations proceeding simultaneously here and in London for such parcels, found myself "saddled" with over the 3.000 Shares, happily below market prices, and as you have decided to go on buying you are getting the benefit of all of same. Enclosed correspondence with Mr. Clarke will show you how we stand with him, and from Messrs Sully have bought two parcels, both at 63/6d, viz., 25 Shares and 75, and am on the look out for others. I should like to know, however, what number in all you desire, as I want to trim my sails accordingly.
The market is rather tricky, small Share Holders being tempted to sell out at much advantage to themselves and reinvest in War Loans. Patriotic reasons doubtless sway them somewhat, but the lack of a guarantee in the Government Bill of pre War profits probably influences them considerably; and thus the possibility of a fall in values is much greater than a rise. Italian Pooling Scheme. A meeting is being held to-day of those interested.
American Expeditionary Force. I quite agree that to allow Messrs Harris & Dixon and their Local Agents to be outside the Scheme under the circumstances you detail is most unfair, but at the same time having regard to the way the Americans look at matters it is hardly advisable in National Interests to oppose them. Mr. Callaghan and others are still in London trying to protest Exporters if possible.
I suppose you have heard of the sudden death from Pneumonia of Mr. Harris?
Yours very truly

G. W. Moore