Letter - Board of Directors

Compagnia Mineraria del Mediterraneo Centrale

16th July 1904

Dear Signor Spadaro,

We are writing to inform you that your recent request for new tools has been denied at this time.

While your argument that higher quality tools will increase productivity is sound, the cost of providing these tools across so large a site is not financially viable without increased profit in the short term.

Any further outlay on machinery should be considered contingent upon a sustained rise in output. We continue to recommend that opening new shafts and extending operational hours is the surest route to achieving this.

Sincerely,

The Board of Directors
Compagnia Mineraria del Mediterraneo Centrale