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[[Stamped in blue ink: JUN 12 1916 RECEIVED In graphite: from NY]]

Duveen Brothers 720 Fifth Avenue New York

June 9/16.

H. C. Frick, Esq. Prides Crossing, Mass.

Dear Mr. Frick,–

I beg to enclose you herewith the latest telegram we have received from Mr. Agnew with reference to the two Titians. The price of course is simply outrageous. The pictures would be reasonable at £200,000, but we would give £220,000. At £250,000 they would be dear, but if pushed we might consider this price. Today, however, we do not reckon them at more than 220, and I do not suppose that anyone else will intervene at that price. I assure that as the owners have had so many people enquiring after them, they have put up the figure to that stated in the cable.

Our only course is to leave the matter alone for the present but to meanwhile watch it carefully, and we have so cabled Agnew this evening, telling him also that there can be no competition at anything like the price named – indeed, I question whether there would be any at even £220,000.

Forgive my troubling you, but I thought you would like to know how the matter progressed. If you have any other instructions to add to those I have wired Agnew I am as w always quite at your service.

With my kind regards, believe me,

Yours very truly, Signed: Joseph Duveen

(OVER).