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to you for showing separately '48 and the first six months of '49 as after all we do not transfer a loss from one year to the next, nor a profit for that matter.

I am about to draw further checks and will of course post you as soon as I will have done so.

WITH BEST WISHES

Sincerely,

PS Clyfford Trevor will you please send him another check in the amount of 2/12/6 in reimbursement of expenses, details of which I shall give you when I return.