My dear Father,

Things are very high for buyers now.¹

I should think the following were quite safe

Dutch Government 4 per cents they pay at present price about 3$\frac{3}{4}$ per cent, or Dutch Indian Ry Obligations (ie Railways in Java) guaranteed by Dutch government 4$\frac{1}{2}$ till 1907 these pay about 4$\frac{1}{4}$ per cent at present price; also I could name 2 or 3 first Mortgage Bonds in American Rys which will pay about 4$\frac{1}{2}$ to 4$\frac{3}{4}$ per cent.

If you do not care for any of these, perhaps it would be best to leave the American B^ds. till they are paid off when things may be cheaper.²

Sara is very brisk, & I am going on well.³ | Your affect son | W. E Darwin

P.S. Also Danish Govern^t Bonds pay about 4$\frac{1}{4}$ per cent