James M. Hall to William Mackinnon. A long war would raise prices. Not in India because of stocks when the rise starts Manchester will "go away". Liebert, on week's visit from Manchester, reported Glasgow business lost £4,000 last year. Personal news; Gunnis anxious to make Mrs Edwards' share of dying father's estate untouchable by Edwards; Salmond retired to Leamington with heart trouble; Begg improving, endorsed £4,000 bill for him day before; George, ill, needing Calcutta or Burmah situation. Victoria Insurance in liquidation (warned in good time) Scaife to raise new company; H.I. & Co's position being queried; caution in recommendation dealings only on securest terms.