PENSACOLA THE NATURAL DEEP WATER HARBOR OF THE GULF PAUL P. STEWART PRESIDENT J. B. MORROW ASSISTANT TO THE PRESIDENT AND INDUSTRIAL COMMISSIONER M. G. HOFFMAN FIRST VICE-PRESIDENT MAX L. BEAR SECOND VICE-PRESIDENT F. W. MARSH THIRD VICE-PRESIDENT GEO. J. EMMANUEL FOURTH VICE-PRESIDENT J. H. MCCORMACK FIFTH VICE-PRESIDENT E. R. MALONE TREASURER J. V. PRICE SECRETARY p. W. REED TRAFFIC MANAGER DIRECTORS AVANT. J. A. BEAR. MAX L. BINGHAM. F. F. CARY. R. M. DIFFENDERFER. W. C. EMMANUEL. GEO. J. GANT. T. L. HOFFMAN, M. G. HUTCHINSON. CLARENCE H. MCCORMACK, J. H. MACDONNELL, LEE MALONE, E. R. MARSH. F. W. WHITE. EDW. T. -tK— INDUSTRIAL COMMISSION PAUL P. STEWART CHAIRMAN Naval Stores Division R. F. MITCHELL CHAIRMAN Foreign Trade Bureau J. B. MORROW SECRETARY Traffic and Foreign Trade Club ROSCOE WALLACE PRESIDENT PENSACOLA FLORIDA’S GREATEST “THE YEAR ROUND” TOURIST RESORT CHAMBER OF COMMERCE PENSACOLA. FLORIDA General Offices-*Brent Building February 27, 1922 ivjr Harold B. Ayres Mhg.Birector, O.S.T. Mobile, Bear jur Ayres: - I1 he writer brought to the attention of our Board of directors the proposition you left here and after some discussion it was the sense of the meeting that we set apart the sum of 0100,00 for the benefit of oh'e Old Spanish frail Association, to be applied by you, in advertising, membership or the C ■ ■ ' I i f ’ / / // /y banner productive of the most good to the cause, this being left to your discretion. e will be glad to hear from you on the subject, and with the writer's best wishes, 7e beg to remain