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June 13th, 1902.

Carlton Hotel,
Pall Mall,
London.

My dear Colonel:-

I have your long and interesting letter of May 31st and thank you for all of the information given therein and particularly for the draft accompanying same for two thousand pounds.

I am using a lot of money as I have made some pretty large purchases of Whistler pictures from private collectors and am making a settlement with Whistler personally. To carry me through I shall wire you this evening asking you to forward to me by mail c/o Brown, Shipley and Co. a fresh letter of credit for one thousand pounds.

I shall use the draft for £2,000 and practically absorb all of the letter of credit for £5,000 by July 1st.

The new letter of credit for £1,000 I do not expect to use very much of it but there is no telling me what I may find in Spain.

To provide funds, I wish you would at your discretion sell my Pressed Steel stock. That was a fine header it took on rumored consolidation with A.C. and F. Co., but of course you are not going to strike anything like 89 for it. At whatever figure you sell I will of course, be satisfied. What I am picking up here is worth much more to me than Pressed Steel --- a good name for my new find-ings would be pressed or compressed joy. Before leaving London, I hope to forward the whole lot of Whistlers (the new ones) about thirty-five paintings and sketches to you, also some of the old ones which I loaned Mr. Whistler.

I had very much rather that no one but yourself and family, office force, and customers broker and officers should know of all these treasures having fallen into my hands. If it becomes gen-erally known too many embarrassing questions might be asked --- and then too, the assessors must be remembered. Of course with the paintings and sketches there will go all necessary custom's doc-uments including Mr. Whistler's affidavit.

I am sorry that Keppel sent off those prints so hastily to you the other day, but I hope they will cause you no trouble.

I am shocked about the serious illness of Mrs. Potter and hope that she has recovered her health.