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M. KNOEDLER & CO., 355 FIFTH AVENUE, NEW YORK.

[File Painting]

PARIS. 23 PLACE VENDOME. LONDON, 15 OLD BOND STREET. CABLE ADDRESSES NEW YORK.

                                           PARIS

KNOEDLER LONDON

Mr. A. P. McElroy,

% Mr. H. C. Frick,

Frick Building,

Dear Sir:-

As instructed by Mr. H.C. Frick we enclose a copy of the Guarantee he signed today to the First National Bank of New York for $250,000, and to advice you that he has disposed of the painting by Metsu imported in July last.

Very truly yours,

[signature]

Enclosure (1)

[Copy files with guarantee]

Red Book 102 Metsu