Transcript:
New Ulm, Minn.
April 20, 1910.
Liebe Eltern!
Habt Ihr meinen
längeren Brief über die Concert Reise nicht
erhalten? Die Quittung für das Kostgeld
war auch darin. Mein Zeugniss wird auch
bald ankommen. Ich habe es im Durchschnitt
auf 85 gebracht. Im Latein bin ich von 90
auf 79 gekommen. Das kommt daher, weil wir
im Latein kein Examen geschrieben haben,
und bloß der Durchschnitt von den 8
Exercitien genommen wurde. Also nicht meine
Schuld. Hoffentlich seid Ihr damit zufrieden.
Schreibt bald. Alfred Baur
---
Translation:
Dear Parents!
Haven't you got my longer letter about the concert travel? The receipt for my board wages was also included. My report card will also arrive soon. I've made it to 85 on average. In Latin I moved from 90 to 79. That's because we haven't written the exam and only the average of the 8 exercises was taken. Therefore it's not my fault. I hope you're pleased with this.
Write soon! Alfred Baur
---
I'm not quite sure what the word before "Reise" (travel) is. It _could_ be "Concert" (yes, that means concert. We say "Konzert" today, but I think Concert might be somewhat common in older German). If Alfred was musician, that might be it, but in that case it's written in a different German cursive than the rest of the text.
The second to fifth terms I couldn't read might be Latin, since they refer to something from Latin class. Probably that some particularly strong discipline of his wasn't taken into consideration that term and that's why the grade was so bad.
The date is already in US format (April 20 instead of 20. April as it would be in Germany).
edit: I deciphered some more words, they haven't taken a final exam, so just the exercises were averaged.