We merged the company into the Lawyers’ Title Insurance Company at a price which enabled us to pay our stockholders $550 in cash and one half share of Lawyers’ Title Stock for every share they owned in our company. I personally purchased from the company all the real estate that it then owned. Having thus returned to the real estate business, only on a much larger scale than I had ever operated before, I took my nephew, Robert E. Simon, into partnership, and formed the Henry Morgenthau Company. This company then developed all the properties I had left in the Bronx, and built and financed housings for thousands of people in that section, and also on Washington Heights, and in Fort George at One Hundred and Ninetieth Street and St. Nicholas Avenue. My venture into the trust company field led me ultimately into an interest in a kind of business I had never before studied. One day my friend, Mr. Charles Strauss, who had influenced many of his clients and friends to open accounts with the Trust Company, came to my office and asked me whether we would make a loan to one of his clients who, he declared, was ready to put up as collateral some of the original Standard Oil Company stock. I told him unhesitatingly that we would do so. He said: “Now, Henry, don’t speak so fast. Before you definitely commit yourself, I understand trust companies are not making loans on an exclusively industrial collateral.” I told him that I knew how my board felt about Standard Oil which was then selling at about $180 a share, and to convince him that I was authorized I told him that if his friend had any doubts, I would make him a time loan of six months. Mr. Strauss brought in Mr. John T. Underwood, the president of the Underwood Typewriter Company. Strauss told me at the time that this transaction might lead to other business. A few years afterward, Strauss came to see me and told me that Underwood required additional money to proceed with his enterprise. He then told me how Underwood had come to this country from England to represent his father’s business--the John Underwood Company, manufacturers of inks; how he had started business at No. 30 Vesey Street; and how, shortly after typewriters had been introduced, had manufactured supplies for them, carbon paper, ribbons, etc., and built up a large and profitable business. His transactions were very largely with the then existing typewriter companies, the Remington and Smith Premier. Shortly after the Union Typewriter Company had been started, these people notified Underwood that they would themselves go into the typewriter supply business. This induced Underwood to go into the typewriter business and to manufacture the first visible typewriter.