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SOURCE OF FUNDS .

In 1980 and 1981 we set aside some funds for our computer
replacement and I am tecommending that additional funds as required be
taken from our accumulated Surplus. While we normally keep our surplus
intact, I feel (with the auditors concurrence) that the purchase is
urgently required and should not be postponed.

a Attached for your information is the report received from
Thorne Stevenson and Kellogg,

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MALLE

J. Maitland.

JM/ms
Attachment

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