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To: Phil Jacobson who wrote (351)	3/13/1998 9:55:00 AM
From: Phil Jacobson	Respond to of 3873

Volatility seems to be on the upside today but on very low volume. Some new individual investors are buying in. Don't get too excited, there should be a few more chances to buy more on the downside other days. But down to 57 from 64, or 75 from 80? Who knows. Phil

To: Phil Jacobson who wrote (351)	3/13/1998 1:48:00 PM
From: Andrew Fairbairn	Read Replies (2) \| Respond to of 3873

I agree with you assessment that US Bancorp will not be allowed to get hurt. But I have a different view on why. The last prospectus I received on the company (11/10/97) listed Walter Scott with 3.5 million shares and Jim Crowe with 1.1 million shares, all prior to the 5 for 1 split. At todays price of $64 that amounts to 1.1 billion dollars for Walter and 350 million dollars for Jim. If these are the two guys making the decisions, I don't understand why they wouldn't protect their own investment and list the stock at what it is trading for on the BB. In a stockholders meeting last November Jim Crowe said that they wanted to public around 20 as that is an investor friendly number. I think there will be another split to get it around 20 and all of our investments should be safe. But I'm pretty new at this, and could be wrong.