Kuhn, Loeb Invitation to J. P. Morgan

In this brief note from May 1, 1905, Kuhn, Loeb & Co. offered J. P. Morgan a $1,000,000 allotment in a $25,500,000 transaction for the American Smelters Securities Company. The brevity of the communication suggests the partners’ extreme familiarity with each other and with the whole process of finalizing million-dollar deals. Also noteworthy is the cordial tone in which the invitation was written.