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          Our R11: LGYIISQ               rG &I st: Un,mlMcr Hou~ 1'(1
                               ;~~lacnr ~iS1M jYlr ])I


          Ibth Ly 1990
                                5~~1. lilts IA;TOIIC

          nr r E Yhltrh~lriiLJ' il·i
          n ncSalU

          IVTCo B"
          toui,vi 11,

          Dor for


          I~RellS'S IORln~~ i SIOHSORP1P

          tho bnl Poor rontroot with Yilll~u in up for I~nn~l~~J::!y, i lr peJ
          Irorrlny the proe,ln of conwltlnt the noern on Illr Illir~:y pr orhrrwile
          of tho Ipon~onhip end vtlnl thou whet nhould he the O~)~Cflval for 1
          IIRCUI Eponlonhlp,

          Slneo Ivl we ~ll~ed, It Ireu thor notor rocln( I~on,o~~:~p uy turv:ve
          the tie rrrtr!alplu which we ctpwl will he IqLuertdvlrhlnrvo
          reorn, If t unui~cant in lponoorinIo ootor ,~eln( leu prior to Iho
          bnn on tPb#co Iponlonhlp in the tTC, thou thin I,rol likir to
          continuo, how ~ob#co ~poolon will not be nllowed, 1::~ Philip Zmrrll'
          lob~yinl which uy prencrvo ouch Ippnlonhlpe

          Vhn ~tb d~cld~d to continuo the IpouPnU) of Y:;ll~ll, itwoo
          rolpondlnl to 1t1 own colponlel Jlnl for the bnrd to continuo to &#
          on ,xtn dlwn,lon Icrooo bordoro which lool ~dr~rtl~ln( e~nno~ ptovido;
          to odd dl*nlloa 0( vinnlnl to tho bond which YLlllru con rls
          (hrnl~ won firnc for Yillioon in Iooio loot Sundry) delplto &~Lrca nod
          Porrori; end to widon the pocIuIe of cuppcrt lotoriolllitou which did nor
          tAelude WI except for W;I(S)'I own, local tfIort~, ~A~b Ilrp hoped thot
          I~RCU1'1 l~uneh Into Jopoo and ~qmrllu would he ~ueenlful nod b~ the
          lolvlnl of the ~o controvllly would Iw~n thor lronoo and i~~lt woulP he
          th~ top prlorltl~l for now Olrt(l Illtllal for the Lrind, Our in!orution
          Indle~trl Ir!ol Interelt in oil thole oun~rlcl in Poroslo One,

          Vould hlll epnlldcr contrlbutlnl to the root of the ~poR,onhip in 1931 ~~
          whotoror Inll rDU con oIIprd! fhe 11,2 on let in 1990 h# jua Llpl o
          tPrhold in the ~poruonhlp for WCUI In 1990,                  Cpl

          t on Conermld for the bnod'l p,rlorunu 11 the d[mlion of rponoorohip
          #n to he rtnoved il1991, hth~p~lIh~,~n ~l~tmuivl qo~uor~hlp
          lined upl Ilto, would itk oprnbla In 19911                   Q\
          Ylth honr wiohol,                                            hi
                                   cc nr P G Iky.nd                    IP1
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          1GIL~CYm ~I
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                 I+rp*,rJ la I~* ':.mrl'k·~ T~!·~ C Is .ill~·:~~Il


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