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LETTERHEAD M. KNOEDLER & CO., 355 FIFTH AVENUE, NEW YORK. PARIS, 2 RUE GLÜCK. LONDON, 15 OLD BOND STREET. CABLE ADDRESSES } NEW YORK KNOEDLER } PARIS

} LONDON

/LETTERHEAD

April 15, 1903*

Mr. F. W. McElroy, C/o H. C. Frick, Frick Building, Pittsburg, Pa.

Dear Sir:

We herewith return voucher for $39,400, for which check was duly received, as per our letter of the 10th instant.

Very truly yours,

SIGNED M Knoedler & Co.

1 enc.