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October 24th, 1924.

Messrs Goldman, Sachs & Co.,
30 Pine Street,
New York City.

Dear Sirs:-

We beg to acknowledge receipt of your letter of October 23rd, advising receipt, for our account, of the following securities:

$15,000.-  Associated Oil 6%
55,400.- U.S. Liberty Load 4-1/4s
We note that you are holding these securities for our account, and would ask you to kindly collect the coupons as they become due and credit proceeds of same to our drawing account just opened by you, as we do not desire to have another account opened in your Foreign Exchange Department.

We beg to enclose, herewith, for the credit of our account:

$37,920.75 check on the J. S. Trust Co. New York,
[[underlined]] 12,079.25 [[/underlined]] " " " [[ditto marks for "check on the"]] Fifth Avenue Bank of New York.

of which please acknowledge receipt.

Very truly yours
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