TLS, 2 pp., 4to., Milwaukee, November 19, 1934.  In part:  “We want to repeat that the new loud speaker does not represent any improvement insofar as tone quality is concerned.  Our main reason for making this change was to cut down our cost on the production of these speakers.  The new one is less expensive for us to manufacture and is easier for the dealer to install.  It produces about the same volume as the old one, and while the tone is slightly different it is not any better.  In other words, this change was not made to correct the old speaker as we feel the tone quality of the old one is perfectly satisfactory.”  Fine condition, with a staple hole and rust stain at the top left corner; two mailing folds; and mild creasing and handling bends.  The son of Harley-Davidson co-founder Arthur Davidson served as president of the company for 29 years and was, himself, a prize-winning racer.