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COPY IN LETTER BOOK.

Pride's Crossing, Mass., June 20, 1908.

Mr. C. S. Carstairs, 15 Old Bond St., London, W.

Dear Mr. Carstairs:

Your letter of the ninth received yesterday. I cabled you as follows: "Knoedler, London. Will loan amount till December. Will write."

If you will send me the notes of M. Knoedler & Co. payable at one of your banks in New York, on or before the fifteenth of December, to an amount not exceeding $125,000, I will deposit the proceeds to your credit where you desire. I would not wish to extend this credit beyond that date for reasons not necessary to give. I take it that that would enable you to accomplish what you are after.

I received the catalogue of the Holland collection. There is nothing in it that I would care for.

With kind regards,

Yours sincerely, [Henry Clay Frick]

P.S. Please have M. Knoedler & Co. draw the notes to their own order and endorse them, as I do not want my name to appear on them.