Letter from Vilhjalmur Stefansson to John Anderson, 13 October 1921

^ Stefansson Arctic Exp. ^

October 13, 1921

Dear Mr. Anderson:

Dr. George M. Jennings, of the Northern Pacific Hospital, Missoula, Montana, let me have $1,000 at the time when we had to send the extra money to Crawford. I made the arrangement with him that you will transfer to him $1,000 worth of my shares.

If it is legally possible I would like to have a letter written from the Company to Dr. Jennings making him the binding assurance that on October 1, 1922, the Company will buy back these shares from him for $1,100, in case he prefers that to holding the shares. This would mean that he has really been lending us money at 10% interest.

As you know Crawford's demands came suddenly upon us and the loan from Dr. Jennings is scarcely a business transaction. For that reason 10% interest is not unreasonable.

Mr. John Anderson Secretary, Stefansson Arctic Exploration and Development Co., 614 Credit Foncier Building, Vancouver, B. C., Canada.