23.1.57

H & S BC PO Box 158
Calcutta

Dear Mum, Dad and Alan,

I think that I have been holding your last letter, written by Dad and Alan, for a week. It is in the office and I am at home - as it is an odd holiday so hope that I miss nothing out of importance. The office has kept me well occupied. Apart from the ? job which in itself would normally have me giving it a lot of attention, the first month of the year with auditors in and half yearly accounts to prepare has carried a great deal of extra details which have had an accumalative effect. Another couple of weeks and we shall be in a routine I expect but I have enjoyed the break from the horrid monotony of the other deary job and am back on the "bills" job which I had on a tempory basis when I first arrived in Calcutta. Because I no longer have telegrams to look after and can have free weekends and half an hour more in the morning I am trying to master that game of golf. Was out this morning at six and met a number of evil smelling vultures on the 14th tee. Horrid things they are too and had to shoo one away before driving off. Conditions are just right to stroll around as the sun is rising, but I enjoy my relaxation so much that I forget to keep going on the game but its good fun. Dorothy wrote with lots of news and her sherry has arrived safely - I hope yours has too. Mrs Aylett & Barbara have received their parcels so am hoping the one to you is in order also. The packing had been damaged a lot but the contents were secure. We have enjoyed the last of our Christmas parties and attended Peter Hammond's wedding which was very good indeed. It reminded us of our own as other weddings had failed to do and we both had a grand time.

A friend of ours has lent us a cine USA Kodak Brownie and to-day we have attempted the first colour shots of Caroline. If successful we will send them to you and hope that someone can lend you a project - 8mm - to see them on. There will not be very many as the expense is something awful - neither will they be edited or artistic, but you may have something, a little better than "still" photos, of your granddaughter - and I can edit them when on leave. This camera has not been used before and we may buy it. It is certainly simple to operate and as you can imagine it has brought back memories of A.I.P. We have been advised to save money on the camera and buy a good projector, but this will have to wait a while.

I find that I have not bought Standards's - my limits were not free enough - but they have appeared steady for a month now. I am in Burma Oil & E.M.I with orders to sell and when out of these hope to have my total cash in P. Bonds. Think that something is bound to come up before it is time for leave. You will have no doubt calculated on the tendency for a rise (short one) as Mr Mac becomes established and when the canal opens. There will be some doubt at first as to whether our ships will be allowed through but in the long run, it is a fair bet, they will be. The market reacts childishly to odd short term events and you may be able to cash in on semi blue chip industrials. My favorites:- Fords & Bowaters are a bit up and so are Rolls - Standards are OK at or near 6/-, but all should take a dip in the next 3 months. However, for me to act I need a telephone and a broker to buy on the day, as the news breaks. My realization, that the prices morning and afternoon may change by a fair margin, has come slowly. As you know, I believe in quick profits between 10 to 20 pounds, on 100 pound lumps, to be taken clear and regardless of future possibilities; bearing in mind that a minimum of 5% p. a. free of tax, on total liquid capital, is zero point. This may be a very simple "system" but it is nice and safe and though it takes trouble I am sure that I could always work it - provided not too much money is involved - my target of 100 pound p.a. on 500 pound is now 60 pounds up with a month to go and if it falls short it will be mainly because I have stepped out. For really big killings I am know how is vital - the certain tip and nothing else. I have been watching Hongkong Bank shares, now at 93 pounds - were at 79 pounds at Suez Crisis time. It seems if you buy low between dividend times DEC-JUNE-DEC they invarably go above the dividends' worth. I think a minimum of 8 pounds per share twice a year free of tax (don't take dividends into account) worth having. If you see a low price less than 85 pounds better 80-82 pounds before July take up to 5 shares and watch them, there may be a small picking before the year is out. 1964 might be a goo year as it is our centenary but is a long way off. People get put off by the price but I see no difference between buying say 100 pounds worth of Standards or an H & SBC 85 pounds for share.

Enough of shares - hope the weather is not too severe for January - ours is moving to summer soon and evenings are lighter.

Cheerio for now love from Margo, Caroline and
Peter.