LETTERHEAD M. KNOEDLER & CO., SUCCESSORS TO GOUPIL & CO., 355 FIFTH AVENUE, NEW YORK. CABLE ADDRESSES. KNOEDLER _ NEW YORK. KNOEDLER _ PARIS. PARIS OFFICE, 2 RUE GLÜCK. /LETTERHEAD

IMAGE -- INDECIPHERABLE INITIALS, SEMI-ENCIRCLED

February 11, 1903.

Mr. H. C. Frick, Frick Building, Pittsburg, Pa.

Dear Sir:

We duly received your favor of the 9th instant. The Mercantile Trust has sent us our note of $50,000 dated October 11, 1902, payable at four months duly cancelled, and which amount we have placed to the credit of your account. We asked our bank to inform us if the other note of $50,000, which, according to our books, was dated September 12, at five months, due today, had been presented, but up to time of writing we have not heard from them. We will thank you to let us know if there is an error on our part.

Very truly yours, SIGNED M. Knoedler & Co.

1 enc.