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in graphite: Entd in Diary in graphite and underlined: " in Receipts + Exp. statmt in graphite and underlined: 2
Duveen Brothers
720 Fifth Avenue
New York
June Eleventh
1915
JUN 15 1915 FORWARDED from NY
initialed Dear Sir, We beg to acknowledge the receipt of your favor of the 10th inst., confirming our sale to you of the articles mentioned in our invoice of June 4th, 1915, from the Morgan Collection, and to confirm your statement of the terms of the transaction, namely, that the total purchase price, amounting to One million, three hundred and ninety one thousand, six hundred dollars ($1,391,600.00) is to be paid as follows: Ninety one thousand, six hundred dollars ($91,600.00) in cash; and the balance, One million, three hundred thousand dollars ($1,300,000.00) to be paid in monthly instalments of One hundred thousand dollars ($100,000.00) each, beginning June 1st, 1916, until the invoice is paid in full, all of which instalments are to carry interest from June 4th, 1915 at the rate of three percent (3%) per annum. Yours very truly, signed: Duveen Brothers
H. C. Frick, Esq. 1 East 70th Street, New York City.