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

April 25, 1903.

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

Dear Sir:

We thank you for your favor of the 24th instant with check for $20,000, which we have placed to the credit of your account, and for which we enclose your voucher duly receipted.

We will have a statement of your account to date made up and send it to you.

Very truly yours,

SIGNED M Knoedler & Co.

1 enc.