Letter from Dr. Alfred E. Stearns to Admiral Tsai Ting-kan, February 18, 1927
Dublin Core
Title
Letter from Dr. Alfred E. Stearns to Admiral Tsai Ting-kan, February 18, 1927
Subject
Letter from Dr. Alfred E. Stearns to Admiral Tsai Ting-kan, February 18, 1927
Description
Typed letter sent from Dr. Alfred E. Stearns to Admiral Tsai, Ting-kan. Acknowledges receipt of money for children's education and expenses. Promises to handle the money responsible, in light of the trouble and uncertainty currently in China. Discusses bank interest on the accounts for his children and the best place to deposit the money. Discusses children's progress. Discusses plans to place the children in camp for summer vacation. Awaits direction on Helen's future education. Appreciates the suggestions on people the children should meet. Dr. and Mrs. Nye are kind to the children and Mrs. Dwight Hall is the wife of an old Andover classmate.
Transcription
February 18, 1927
Admiral Tsai, Ting-kan
9 Ma Ta Jen
Huting, East City
Peking, China
My dear Mr.Tsai:
I have duly received your welcome and interesting letter of January 15 with the accompanying first draft for 9,000.00, to be credited to the accounts of your children to cover their later education and other necessary expenses in this country. I can readily understand that, in view of the unsettled conditions in China and the varying rates of exchange, it may seem to you wise to make these advance remittances, and I can assure you that I shall be glad to do everything in my power to see that they are handled properly and in a way that will insure at least some gain to you by the process.
For the past two years, or thereabouts, I have persuaded our local bank:, where I have kept the deposits in behalf of the Sun children and one or two other Chinese wards of mine, to allow me a small interest on the deposit owing to the fact that the balance there has been generally of fair proportions. As it is a checking account, therefore the amount of that interest has never been more than one to one and a half percent. The sum that you have sent and perhaps are to add to, since in the main it will remain for some time a stable account, is naturally entitled to a much more generous return than this, and I will see that it gets it.
My impression now is that, if one or two savings banks, including our local bank which has an exceptionally high rating, can be persuaded to take individual deposits of sufficient size, it will be probably best to place the bulk of your remittance with them. Our New England Savings Banks regularly give from 4 ½ to 5 per cent interest, but the amount of individual deposits is regularly limited to not more than two thousand dollars. The next best proposition would probably be to make use of some good Trust Company like the Old Colony Trust Company of Boston, where I think we can count on 3½ to 4 percent. I will see that you are advised a bit later of the final decision, so that you may now Just how matters stand.
Both the children seem to be in the best of condition. Only this morning I had a very cheerful note from Helen, prompted by the announcement of the good marks she had received on her mid-year’s report, a copy of which report has already been mailed to you, I think. Fortunately, they both seem to be able to stand our New England winter climate in the best of shape. Just now I am wondering a little what to plan for the coming summer. In all probability the best arrangement will involve high grade summer camps where a limited amount of study can be continued and wholesome out-of- door life is the rule. This is the arrangement I have regularly followed with my other Chinese wards. I am also awaiting with keen interest advices from you as to your wishes for Helen’s later education, since, as I have already written you, the selection of her school and courses for next year must necessarily be influenced a good deal by the question of whether or not she is to take a college course in America later. I count on you to advise me fully on this point.
I am very glad to have your suggestions about home and persons with whom you are glad to have your children come in contact. Dr. and Mrs. Nye have been especially kind to the children, and I believe the youngsters have enjoyed their visits there. Curiously, Mrs. Dwight Fall, to whom you refer, is the wife of one of my old classmates of school days here in Andover. I know the family and connections very well, for they are very intimate friends of our Treasurer, Mr. Sawyer, who, in turn is my closest friend and whose oldest brother married Dwight Hall’s sister, and I am sure that your children will make many good friends while they are in this country, and it is, and will be, my aim to have them meet the best.
Again my thanks for your generous and friendly letter. Please assure your good wife that I count it a rare privilege as well as I ensure to play the father, if I can, to those most delightful and responsive children.
With kindest personal regards and best of wishes to you all, believe me
Very sincerely yours,
Admiral Tsai, Ting-kan
9 Ma Ta Jen
Huting, East City
Peking, China
My dear Mr.Tsai:
I have duly received your welcome and interesting letter of January 15 with the accompanying first draft for 9,000.00, to be credited to the accounts of your children to cover their later education and other necessary expenses in this country. I can readily understand that, in view of the unsettled conditions in China and the varying rates of exchange, it may seem to you wise to make these advance remittances, and I can assure you that I shall be glad to do everything in my power to see that they are handled properly and in a way that will insure at least some gain to you by the process.
For the past two years, or thereabouts, I have persuaded our local bank:, where I have kept the deposits in behalf of the Sun children and one or two other Chinese wards of mine, to allow me a small interest on the deposit owing to the fact that the balance there has been generally of fair proportions. As it is a checking account, therefore the amount of that interest has never been more than one to one and a half percent. The sum that you have sent and perhaps are to add to, since in the main it will remain for some time a stable account, is naturally entitled to a much more generous return than this, and I will see that it gets it.
My impression now is that, if one or two savings banks, including our local bank which has an exceptionally high rating, can be persuaded to take individual deposits of sufficient size, it will be probably best to place the bulk of your remittance with them. Our New England Savings Banks regularly give from 4 ½ to 5 per cent interest, but the amount of individual deposits is regularly limited to not more than two thousand dollars. The next best proposition would probably be to make use of some good Trust Company like the Old Colony Trust Company of Boston, where I think we can count on 3½ to 4 percent. I will see that you are advised a bit later of the final decision, so that you may now Just how matters stand.
Both the children seem to be in the best of condition. Only this morning I had a very cheerful note from Helen, prompted by the announcement of the good marks she had received on her mid-year’s report, a copy of which report has already been mailed to you, I think. Fortunately, they both seem to be able to stand our New England winter climate in the best of shape. Just now I am wondering a little what to plan for the coming summer. In all probability the best arrangement will involve high grade summer camps where a limited amount of study can be continued and wholesome out-of- door life is the rule. This is the arrangement I have regularly followed with my other Chinese wards. I am also awaiting with keen interest advices from you as to your wishes for Helen’s later education, since, as I have already written you, the selection of her school and courses for next year must necessarily be influenced a good deal by the question of whether or not she is to take a college course in America later. I count on you to advise me fully on this point.
I am very glad to have your suggestions about home and persons with whom you are glad to have your children come in contact. Dr. and Mrs. Nye have been especially kind to the children, and I believe the youngsters have enjoyed their visits there. Curiously, Mrs. Dwight Fall, to whom you refer, is the wife of one of my old classmates of school days here in Andover. I know the family and connections very well, for they are very intimate friends of our Treasurer, Mr. Sawyer, who, in turn is my closest friend and whose oldest brother married Dwight Hall’s sister, and I am sure that your children will make many good friends while they are in this country, and it is, and will be, my aim to have them meet the best.
Again my thanks for your generous and friendly letter. Please assure your good wife that I count it a rare privilege as well as I ensure to play the father, if I can, to those most delightful and responsive children.
With kindest personal regards and best of wishes to you all, believe me
Very sincerely yours,
Creator
Dr. Alfred E. Stearns
Publisher
Phillips Academy
Date
February 18, 1927
Rights
All Rights Reserved By Phillips Academy
Language
English
Type
Manuscripts. Correspondence.