(Andrew Carnegie to W.N. Frew, May 6, 1913)

              box00007_fld00022_bdl0035_doc0002_00000001.txt; COPY OF ORIGINAL LETTER.
Skibo Castle, Dornoch, N.B., 20th June, 1898.
W.N.Frew, Esq.,
President, Board of Trustees, Carnegie Institute, Pittsburgh,
Dear Sir:
I have had some conversation with 1 r Beatty in regard to insurance of pictures sent for exhibition.
If the Trustees will put aside from year to year one half the amount which would be paid for insurance on the basis of present rates, I agree to make good any deficiency in that Fund that nay arise in making good all losses from pictures.
I believe that one-half the rates charged by Insurance Companies will meet all losses, including those arising during exhibition.
If the Trustees accept this agreement, they will find the fund will accumulate until a sufficient sum has been accrued to justify the trustees in insuring for the Institute. .Should the practis of insurance ever be abolished, the Fund could then be used for other purposes.
Very truly yours. (Signed) Andrew Carnegie.
MODIFICATION SURGESTEP.
W.H.Frew, Esq.,
President, Board of Trustees,
Carnegie Institute, Pittsburgh.
Dear Sir:
In view of action by the Interstate Commerce Commission requiring the declaration of full values in case of the shipment of a painting, and the excessiv express rate occasionalthereby, I hereby modify my offer of June 20, 1898, as follows:
If the Trustees will insure paintings intended for exhibition, in transit to and from Carnegie Institute, for not less than half their value, and place an amount equal to the amount thus paid for insurance from time to time in the Insurance Fund established by the Trustees, using for this purpose the interest annually accruing from the Insurance Fun$, I will agree to make good any deficiency in that fund that may arise in making good losses occasioned by damage to, or loss of pictures.
Very truly yours. (Signed)   ANDREW   CARKECIE.
May 6 1913        WITNESS* (Signed) James Bertram.