System Number: 03514
Date: 21 November 1888
Recipient: Algernon Graves
Repository: Glasgow University Library
Call Number: MS Whistler LB 7/46-47
Document Type: MsLc
Nov. 21. 88.
Dear Sir, -
I don't at all understand what you mean in the footnote in your letter about the "arrangement made at the time of purchase of Carlyle that if sold Mr Whistler and H. Graves & Co were to divide all over three hundred pounds (£300) unless Mr Whistler settled up before"
I have no copy of any such agreement. I remember no arrangement of the kind, and I cannot possibly see how any such proposition could have been entertained even in thought. I have the copy of your transaction with Howell in which you advanced him one hundred & twenty pounds (£120) upon the Carlyle; when I came to you and proposed to buy it back you charged me three hundred pounds (£300) for it a large sum at the time as you know you thought it
for any for any work of mine, whose sale could only be vaguely looked forward to in the dim future. Upon what plea could you found your proposal to share any profits that I might make in such future sale! Again when for these past years the price of the Carlyle was fixed at four hundred guineas (£420) what earthly inducement would there ever have been [p. 2] for me to have made its purchase if it had been understood that we were to share the one hundred guineas (£105) over the price I was to pay you after you had taken out the interest that has accrued since the transaction? - Why it would have been more than eaten up and I should still be in your debt! This is so evident that the matter seems to me to require no further comment and I must return to the fact that I have no copy of any such agreement between us. Now I hope shortly to hand you the one hundred pounds (£100) more on account of our transaction, and again thanking you for all your courtesy and kind patience.
Believe me to be,
Very faithfully yours
(Signed) J. McN: Whistler.
H. Graves & Co -