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December 2, 1920.

W. J. Naughton, Esq., Estate of H. C. Frick, Pittsburgh, Pa.

Dear Sir:-

    We are duly in receipt of your letter of Nov. 30th, advising us of the payment to the Guaranty Trust Company of New York, of the fourteenth instalment payment under agreement of May 21st, 1918, between the late Mr. H. C. Frick and ourselves. We are pleased to inform you that the Guaranty Trust Company of N. Y. have duly advised us of the receipt of the payment, and we have accordingly credited the amount to the account of the Estate of H. C. Frick.
    Thanking you for your courtesy, believe us
    Yours very truly,
    DUVEEN BROTHERS, Inc.,
    By [signature]

CFB:HF