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120 and of merchants of this country, my capital and my long ex– perience in the trade. It is easily understood that the only basis of all my action is to be found on the commission I will received as per the trade laws and the transactions I shall realize for you. This point is rather complex and requires a further explanation. Please consider attentively the previous ones, and if they meet with your approval, we shall consider it in further letters. Awaiting for a kind reply, I remain, Gentlemen, Yours truly, Victor Marques.