Scripto | Transcribe Page
Log in to Scripto | Recent changes | View item | View file
Letter from [Henry Clay Frick] to C.S. Carstairs, 4 December 1914
https://transcribe.frick.org/files/Purchases/3107300004221_023_POST.jpg
« previous page | next page » |
You don't have permission to transcribe this page.
Current Page Transcription [history]
COPY COPY IN ^Ptg LETTER BOOK.
New York, December 4, 1914.
My dear Mr. Carstairs: I enclose a letter covering the proposed picture deal. It may probably look a little small that I could not concede your request to make this 7500 shared of Pennsylvania Railroad stock, but I really doubt the wisdom of making a purchase of pictures at this time, and do so rather reluctantly. It is most difficult to tell what the future has in store for us, and at present it seems to me that pictures will decline rather than advance in value. I have the greatest faith in the intrinsic value of Pennsylvania Railroad stock, even though there should be no advance granted railroads on freight rates. When business revives, Pennsylvania will make enormous earnings; their rates are high enough, - what they need is volume of business, and if you hold this stock it seems to me you are bound to realize ere ling the full price for your pictures. Meantime, you are getting good returns on your investment. Sincerely yours,
Mr. C. S. Carstairs,
Messrs. M. Knoedler & Company,
New York, N. Y.