July 7 Friday – Frederick J. Hall wrote a five-page typed letter to Sam, enclosing a draft for $250. Hall characterized it as a “rather discouraging letter,” but that most of the negatives had already taken place. He reviewed the critical nature of the financial markets, the absence of credit, the need for a loan from the U.S. Bank to tide them over; the demands of the Mt. Morris Bank; the shut down of production on LAL; his notification to and response from Stedman; his not having drawn a full salary “for some time past; his seeing Mr. Ward who reported the first typesetter would be placed in the N.Y. Herald, though Hall was uncertain of it. Hall enclosed a batch of notes to be renewed for Sam to sign and return. Overall, Hall felt they would “weather the storm.” Hall had cut office staff and expenses to survival levels [MTP].