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NEW YORK, 355, FIFTH AVENUE. PARIS, 23, PLACE VENDÔME. CABLE ADDRESSES KNOEDLER, LONDON. KNOEDLER, NEW YORK. KNOEDLER, PARIS. TELEPHONE 1292 MAYFAIR.

1 June 1909. 15, OLD BOND STREET, LONDON, W.

Dear Mr. Frick, I wired you a short time ago that they had succeeded in raising the money to keep the Holbein here – Someone came forward today & subscribed the money, all the balance that was needed – I think about £40.000 as about £32.000. had been subscribed. It was rather unexpected & yesterday I looked upon the picture as yours. I will regret the joy of not seeing it in your collection & wish you might have had it but I really appreciate the Nation saving it for the National Gallery where it has hung so long. I see you made a record trip [end page 2 f 2]