X-mas 62 2849 Tomioka-cho Kanazawa-ku Yokohama, Japan Dear Professor and Mrs. Mises: Merry Christmas and a Happy New Year. In April this year, we moved from Fujisawa to Yokohama to live in our new house. It stands on a hill as high as 300 feet and we can see ships sailing to the States at a distance. We like this place best of all places we have lived. Hatsuho, my only son, is now in the second year of a local junior high school. His interest is electronics and he is going to assemble an auto- matic computer with transistors. Although his toy machine can count up to three times by three multi- plication using binary system, he is very much interested. Meiko, my wife, has been busy putting all things in order since we came here. She sometimes miss our smald house in Kochi. She wishes to resume her hobby --flower arrangement and painting. I am now Instructor of Marketing Management, Economic Department of Kanto Gakuin University. My article on "Free Enterprise and Consumers' Sovereignty" pbulished in the MANAGEMENT TODAY in Japan has been receiving good reactions from many businessmen. I am still struggling with the translation of your THE VLTIMATE FOUNDATION OF ECONOMICS SCIENCE. At this season, I recall you and your seminar. With good wishes. Yours sincerely, Joshio Murata Toshio Murata