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2-page typescript memorandum from Samuel Flood Page to Edward Gimingham Marked 'strictly confidential' discussing the Board's disapproval of Gimingham's purchase of horses for Ponders End. The letter says; "Dear Mr Gimingham, I was not well enough to be at the Board yesterday, as I am sorry to say I am still on my back, and the Dr will not let me get out of a recumbent position. I am writing this in strict confidence so that you need not show it to anyone else. I am sorry to inform you that the Board entirely disapprove of the purchase of horses for Ponders End, and further that they state that the horses ought not to have been purchased, without the purchase having firstly been directly approved by the Board. Unluckily I am not able to come down and have a talk with you, but have to express my opinion on paper, which is rather a round about way of doing it. From a pretty long experience, however, I have found that when the powers that be disapprove of anything, it is the simplest way out of it, immediately to conform to their wishes, and I therefore have to request that you will have the goodness immediately to ascertain at what price you could get these horses taken off our hands. It is not a question for discussion, but it is simply a question that the Directors disapprove of our owning the horses, and having the risks etc connected therewith. I will not complicate the matter further by any suggestion as to the mode in which the business is to be done, but simply request that you will have the kindness to let me know forthwith at what price you could get these horses again taken off our hands. With the exception of Mr Gover and Mr Chappell who takes this letter down, no one knows that it has been written. Please mark your reply to it 'private', in like manner. Yours very truly, S Flood Page."