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May Fifth 1920

CFB-A

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

Dear Mr. Naughton,

    We beg to acknowledge receipt of your letter of April 30th, advising us of the seventh payment under agreement of May 21st, 1918, between Mr. Frick and Duveen Brothers and have now been advised by the Guaranty Trust Company of New York of the receipt of the payment.
    We have therefore credited the amount, viz: $100,00.00, leaving a balance of $1,100,000.00 on the account.
    Please accept our thanks for your advice and believe us to remain,
    Yours very truly,
    Duveen Brothers, Inc.
    By [signature]