Copy letter from Francis Alexander Towle, Assistant Secretary of the Royal Society; to Messrs Coward & Hawksley, Sons & Chance; 30 Mincing Lane, E.C.3. Informs Messrs Coward & Hawksley, Sons & Chance that the delay seems to be due to the inability of the Society of Chemical Industry to arrive at a decision on the question of retaining non-Trustee securities. Notes, however, that he has sent their enquiry on to the Treasurer of the Society and hopes that before long he will be able to give a definite answer. 24 December 1920