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STATEMENT OF M. KNOEDLER & COMPANY ACCOUNT TO APRIL 30TH, 1918.

DEBITS

April 30, 1916 - 3 Whistler Pastels - $10,000.00 May 29, " - 3 Ptg. by Boucher - 75,000.00 " " " - 1 Ptg. by Trepolo - 8,000.00 " " " - 2 Ptgs. by Sargent - 13,000.00 " 31, " - 15 Engravings & Etchings by Durer, Vandyck, Rembrandt & Meryon) 41,120.00 Dec. 30, " - Mis. Expenditures for 1916- 3,845.78 May 31, 1917 - Engraving by Reynolds & mis. expense - Jan. to Mar. 1917 - 7,908.75 May 31, 1917 - 12 Etchings by Meryon - 28,500.00 Total - $187,404.53

CREDITS

Dec, 30, 1916 - 1 Ptg. by Thaulow - $1,600.00 Oct. 2, 1917 - 1 Ptg. by Lhermitte - 8,000.00 Jan. 12, 1917 - Payment on account - 100,000.00 Feb. 19, 1918 - " " " - 40,000.00 149,000.00 (Balance due M. K. & Co. as of Apr. 30th, 1918)- $37,804.53