Dear Madam,

Our records show that you holding shares in the following Companies:-

Metropolitan Water Co. LTD

Metropolitan Gas Co. LTD

Union can Company LTD

British Perforated Tissue paper NL

Due to uncertain conditions of the market at present. We would like to advise you to sit on your Union Can, hold your water, and let your gas go.

You will no doubt be interested to know that British Tissue touched a new bottom today and thousands were wiped clean.

Trusting yours is the same.

Yours Faithfully,

SQUATT & PEE  STOCK & SHARE BROKERS