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Duveen Brothers

720 Fifth Avenue New York

W. J. Naughton, Esq., c/o H. C. Frick, Esq., Pittsburgh, Pa.

Dear Sir:– We beg to thank you for your letter of July 31st, advising us that you have made the second payment to the Guaranty Trust Company of New York, under agreement of May 31, 1918, between Mr. Frick and Duveen Brothers, Inc. The Guaranty Trust Co. have duly advised us of the receipt of the payment, and we have made the necessary entries to credit Mr. Frick's account. Yours very truly, DUVEEN BROTHERSi, Inc. By Ben Duveen

CFB:HF