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Knoedler- Paris, New York, London

Dear Mr Frick I was unexpectedly surprised to receive your cable this morning re Southern Pacific. I thanked you immediately saying to do what you thought best. I know nothing about stocks - a profit is naturally most welcome. Lotz? arrived last night feeling rather miserable: he had a good nights rest and says he is much better today. I sent him a doctor who will look after him properly. It seems that a sleeping powder he took just before arriving at Cherbourg upset his stomach through..? next sentence unclear. I think it is simply a question of dieting