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1674-13 Carl FisherOopy to: Ur, Lindsay Hopkins 1r. 0.,M. Keys Fehrtrlr;r 1?th 1 Tyr. Lowy 2) t'evat 57th fore t, New York City. dear kr. Flinn« Confirming coi_vereati.oxt vith 14r. Hopkins s LCpt nowt vie axe hT.vin3.tte largest LuzbQr of visitor in this pat of nvriOa, that vs have ever bad* while our hattA ram, hc,ve i;= ,:r1 materially reduced* tie believe that this lc one big reran why wo are having such on .influx of visitors. Approximately mately of all oar E;Uests t! net. people, who aro for the first time.la Florida* 9 er at boot they are for thr first time in our Eetele, This doe,onat c n that the influx of vis"zitory are a cheap class of -tourist$. The vide advertielnn of living Expenses fere and the hotel rates, t4r.3 the gen ra1 reputation of this part of Florida In the reason,, awl with nortal conditions In the next few years, tie can expect this increase of business to continue. We are rentia;; more than twice as may homes ,this year as previously, at approximately 54 % of previous renis pricer,. Our hotels.are filled,, and turning away guests in large numbers. Some of the guests who apply of course, would be tuned away if the hotels ware not filled. fl are approximately at this date 4O OOQ shed on hotel € again ., and gaining about 63,3OO per day. The enclosed statement of the Flamingo Hotel will give you an idea, of the advance in business over last season. The Flamingo ,a.3 Operand at 012,000 less operating openink expense than lwt year* and lea approximately :13,000 ahead in earnings. In other wzde, the hotel Is 02=4000 alvmd in cash position over thi* FAM3 time last year. All our other hot,31 s ars approximately BO advance over las' exon In 'business. However, wa have at this time obligations on last year's maturities on the Lincoln as per separate ah"et which will prob :ply be,gotten gotten out Lincoln* for you, We have past obligations on the Flamingo which make It neceo. ary tbzt theoe moneys be immediately applied to these account°, in order that wo can get the 'Flamingo out of the Bondholders Coe ittec. rano y ?lin The Lincoln Is not wub jest to nip a� :conditions as n11 the bowls are held by one mans zto lo quite ,ftlendly to our Company and who la now rentinu my oun hoe from me at 0.,p00 per onth rental. I owover, thele past obligations on the hote1c must be taken die of fis t. Wo.are not yet into a telling season of any magnituk, but general sales on the Deachilere-this year are more than three tt :etc-ear,.t th y were 1aot year. Ae you kz owe all prices of hexes and vacant lots have been reduced anywhere from 3 to ?5%. There are more than 0000000 north 'of tentative des in the mill at th1 time over both our eon znd Bay koro properties. There Is an inquiry to purchase every hotel arc have, vhich we oan only size up as an inquiry for riot e.. otly; a far ;ain prtoo but n saori fico sale pri ee. '1 -don't thick we have more than one real legitimate buyer for one of our hotels, :and of course every days bu .neze that ' do nowt makes thl o prospect bri &hter, and any disturbance here would immediately cra h everything that has hen done in the . laet year to reopen business condition here* • le are,perfectly plilin3 for any reorgan— ization plan that will protleot you and Mr. Keys and our Company, and certainly some plan could be corked out that ouldprotect the original stockholders in Montauk.. I am not worried about ray own inveht ent in Uontauks put 1 a concerned for the others. 1 cannot ima ifs any particular good could coin() from talking With tire Doherty, but re are perfectly grilling to her That he has to pay on the subject. Mr. Crump to not a mnIrzer of,e. hotel; he la more intereoted in gett3.n i ortauk, 1 believe, from a gambling standpoint and if he had been left alone last year he wouldhave ruined the reputation of the hotel. .: We might have had at Montauk the same thing that 'happened to the Biltmore several years a ago, and l believe you are familiar with What happened there. .The hotel should Le worth 015,004 without the garages as the garage rent le 4,OOO net. I believe .1 can collect this money for -you in advance on a new contrast with the sane man who had the garage last year. I can alae, I tolleve,rent the Qolf Club for you for 'at loact 03,QC4 net. rcory inn ' �f With the return of "light win and beer,. the, grill room at Lout uk Manor Should be worth from 460000 . to 080000 net, to tete hotel, and t believe! we can get you • a first elasatlanager tooperate on then terms* I have a small amount property in ay own nape at Montauk, Which I . would be stili. to put up a guarantee under such a management gement plan, to help any one of four Viers we have here. r. Crux p' a shortage at Montauk last year was greater that# the entire shortage of ono of our hotels of the eame size here ort a period of several years. The lautilua Hotel ' hasrtot lost tutee blankets since it opened, and the total shortage on blankets here in all cur hotels bac/ not been asmuch as Orump'.c loss last ye r. The silver-- vara .shorta ,e there is also greater than we have had in any ofour hotelm thio Int year. Under no circumstances should you oonsi; er r. Orurlip for 0nother season, and I told . Robbins the ' othn day just diet I thought &out this si cation at Iontla Wh: d. - "... �.. Lontauk should have a better season thio year than last, even, if the depression gets ' orse. There are millions of people who do not feel this depression at all, as they pay no tares© and are on a payroll of the Government in one way or Wither. Regarding the insuxanee, I have argued strongly in the past that there is 'no neoeosity for more than 450,000 uorth of insurance on the hotel at Mont nk. You could not do $50,000 damage to the hotel if you upset a barrel of gacolins'on the Lobby floor and touched a hatch to lit. In the reorganisation of the Flamingo Motel here, it is pert of the plan of the; bondhoidoz s to reduce the i.nourance to nsmote than 100,000.00. The only plan to follow that is ' sensible st this time is to allow the conditions to continue /here these season at l: as t, and bet as many salea of both land. and houses as . it le possible to take, and perhaps a reor3an-• isation plan can be worked out in the spring that will .be to the general benefit of all bondholders and stockholders, and as sOon as we can get moneys, after paying these obligations we are committed to here, you could depend tr5,,on it that you can have them... I have finally clea*od up the account on the Flatngo Hotel, and hope to practically have this hotel out of the bondholders committee by the f iy of of Apr11, unless something unusual happens to stop flow of people ! re Coca x,, hnrc rag a Your :lD. I 1 T Mt tfr. 17 i aFv'entFl that T,,e dvice you that arta Irl s no standing in this community, is 10107r a he a,disturber urbcr of this kind, aid. ye are, quite certain that we .. have proper attorneys here, who advise that tnder no oiraura- eta drs .ct.uid he get a ' Re eel verch1p appointed here, . with euoh a flimsy claim, as he would have. However, ` a= ettorneyds are keepinz us vf1vised• of any move made* au .• d when and r,•e A;i11 forward you this inforet tion itzmediatair. 'e also have eater to h. ' ve ' .x: gpkins drop in,.and talc over pi ,nQ generally, eery few days, 2 expect to see tre Hertz tororrow ox the next -day, regarding his mortgage end the.H,;.y -. Shore Company is prepared to raise for tr. Herz t25,000 or $30,000, .tf. neoes axy, to reduce his stx xtga e, anal if this canr of be done with Mr, Hertz, ve believe we have some friends who will help us re -finance this mortgagee at lea3t ze have oondiderahle hopes ©f doing so. 0, Frcinml