Letter from Dan Oppenheimer to Harris Leon Kempner discussing about the memorandum that was sent which contains the recent telephonic conversation between Mr. Mehan and J. C. Wilson. Dan discusses about the carry-back tax loss that Mr. Mehan needs to take care at Pecos, and his suggestion in appointing caretakers for the Rancho Rio and Grandfalls farms, and also, on expenses incurred with land ownership and maintenance and the future prospects from it. Finally, concludes with his high opinion on Jesse and his travel plans to Tucson.

Letter from Dan Oppenheimer to Harris Leon Kempner discussing about his trip to Tucson and declining Harris Kempner's offer for another one to Chile due to work accumulation. Dan also posed couple of questions regarding Pecos business like its tax refund that Mr. Mehan is tracking and the cotton sales from previous month. Additionally, he also discussed about the T. C. I.'s debt reduction and reviewing Jesse's work.

Letter from Arthur M. Alpert to Dan Oppenheimer discussing about Balmorhea Ranch and sale of Barstow acreage.