COPY September 23rd, 1915.

Gentlemen:- I beg to enclose herewith check for One million, two hundred seventy-eight thousand, seven hundred, fifty dollars ($1,278,750.00), with voucher accompanying, which please sign and return; also return me the letter given you under date of February 22nd wherein I agreed to pay you for the Fragonard Pictures.

Yours truly, in graphite: Signed H C Fr

To MESSRS. DUVEEN BROTHERS, 720 Fifth Avenue. NEW YORK CITY, N. Y.