COPY April 30th, 1919.

Dear Sir:– In accordance with your letter of March 3rd to Mr. Frick, I hereby inform you that the first payment under agreement of May 21st, 1918, between Mr. Frick and Duveen Brothers, has been paid to the Guaranty Trust Company of New York.

Very truly yours, W. J. N.

To MR. JOSEPH DUVEEN. c/o Duveen Brothers, 720 Fifth Avenue, NEW YORK, N. Y.