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

Apri l 24, 1903.

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

Dear Sir:

We thank you for your favor of the 23d instant, with our three months note dated April 11th, for $40,000, which amount we have placed to the credit of your account, as requested.

Very truly yours,

SIGNED M Knoedler & Co.