which he had paid for a coat that was "not worth a
cent." How would you reply to this letter so that the
one making the complaint would send in an order? Write
the letter.
In connection with this exercise study the following letter:
Dear Sir:
We wish to acknowledge your letter of April 16, in
which you say that on April 14 you received a bill for
five S & Q Railway bonds, which Mr. Wensley had sold
you on the 11th at 100 and interest; that you sent us
your check for the amount on the same day; and that on
the 16th, two days afterward, you received a letter
from us, offering a new block of these bonds at 99 and
interest.
This complication was brought about through a peculiar
chain of circumstances, an explanation of which, we
feel, is only just both to you and to us. When Mr.
Wensley came to the office on Saturday, the 12th, he
told us that he had your order for five of these bonds
at 100¼ and interest. The market price was then 100
and interest, and we were very glad to give you the
benefit of the more favorable price. At that time we
had no intimation that more of these bonds were
coming on the market. Quite unexpectedly on Monday we
received notice from our Boston office that they had
in view a new block of the bonds. Even at that time we
did not know definitely that we would get them. On
Tuesday, again quite unexpectedly, we were instructed
by our Boston office that the bonds had been secured
and were to be offered immediately at 99 and interest.
So suddenly did the entire transaction take place that
we were unable to prepare a new circular, and on
Tuesday night we merely sent out a letter, telling our
customers that we had an additional block of these
bonds. In fact, the new circular will not be ready
until about noon of to-morrow.
We realize that you should have been informed of the
new price. The bonds, however, came on the market so
quickly and in taking care of the details of the
offering we were so busy that the matter,
unfortunately, was overlooked. We are glad, therefore,
to make adjustment of the price now by having our
banking department send you our check for $50.
It is unnecessary for us to say, we presume, that we
regret this occurrence and to assure you that had we
known of the new bonds on Saturday we would have
advised you to hold off your purchase until the
offering was ready. We feel that you know us and the
policy of our house well enough to be sure that we
would not willfully take advantage of you in this way.
We trust that the arrangement that we have made
satisfactorily straightens out the matter.
Yours very truly,
=Exercise 235=