June 25, 1997 First of Michigan Capital Corporation 100 Renaissance Center 26th Floor Detroit, Michigan 48243 Attn: Chairman 1888 Limited Partnership c/o Day, Berry & Howard One Canterbury Green Stamford, CT 06091 DST Systems, Inc. 1055 Broadway...

                                                                  EXHIBIT (c)(8)

                             FMCC ACQUISITION CORP.
                                 000 Xxxx Xxxxxx
                               Xxx Xxxx, XX 00000

                                                                   June 25, 1997

First of Michigan Capital Corporation
000 Xxxxxxxxxxx Xxxxxx
00xx Xxxxx
Xxxxxxx, Xxxxxxxx 00000

Attn: Chairman

1888 Limited Partnership
c/o Day, Xxxxx & Xxxxxx
One Canterbury Green
Stamford, CT 06091

DST Systems, Inc.
0000 Xxxxxxxx
Xxxxxx Xxxx, XX 00000

                 Re: Board of Directors of
                     First of Michigan Capital Corporation
                     -------------------------------------

Dear Sirs:

               Reference is made to that certain Tender Offer Agreement dated as
of June 11, 1997, as amended (the "Tender Offer Agreement"), among First of
Michigan Capital Corporation (the "Company"), FMCC Acquisition Corp. ("Buyer"),
1888 Limited Partnership and DST Systems, Inc. Unless otherwise defined herein,
capitalized terms used herein shall have the respective meanings ascribed
thereto in the Tender Offer Agreement.

               Under the Tender Offer Agreement and under the terms and
conditions stated in the Offer to Purchase, dated June 18, 1997, of Buyer, it is
a condition, among other conditions, of Buyer's obligation to accept for
payment, and pay for, any shares of Common Stock tendered pursuant to the Offer
that the Board of Directors of the Company shall be composed of designees of
Buyer immediately prior to and at the time Buyer accepts the shares of Common
Stock for payment, provided Buyer shall have used its best efforts to make such
designations prior to the expiration of the Offer.

               Buyer hereby designates the following individuals as its
designees to be elected to the Board of Directors of the Company:








                           1. Xx. Xxxxxx X. Xxxxxxxxx
                              Xxxxxxxxxx &. Co.
                              000 Xxxx Xxxxxx
                              Xxx Xxxx, XX 00000

                           2. Xx. Xxxxxx X. Xxxxxxx
                              Xxxxxxxxxx Xxxxx Holdings Inc.
                              00 Xxxxxxxxx Xxxxxx Xxxx
                              Xxxxx 0000
                              P.O. Box 2015
                              Toronto, Ontario M4R 1K8

                           3. Xx. X. Xxxx Oughtred
                              Xxxxxx & Xxxxxx
                              Scotia Plaza
                              00 Xxxx Xxxxxx Xxxx
                              Xxxxxxx, Xxxxxxx X0X 0X0

                           4. Xx. Xxxxxx Xxxxx
                              First of Michigan Capital Corporation
                              000 Xxxxxxxxxxx Xxxxxx
                              00xx Xxxxx
                              Xxxxxxx, Xxxxxxxx

                           5. Xx. Xxxx Xxxxx
                              First of Michigan Capital Corporation
                              000 Xxxxxxxxxxx Xxxxxx
                              00xx Xxxxx
                              Xxxxxxx, Xxxxxxxx



                                              Very truly yours,

                                              FMCC ACQUISITION CORP.

                                              By: /s/ Xxxxxx X. Xxxxxxxxx
                                                 -----------------------------
                                                 Xxxxxx X. Xxxxxxxxx
                                                 Chairman and CEO

cc: Xxxxxxxxxxxx Xxxx & Xxxxxxxxx
    0000 Xxxx Xxxxxx
    Xxxxxx Xxxx, Xxxxxxxx 00000
    Attn: Xxxx X. Xxxxxx, Esq.