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Sends monochrome watercolour sample; offers to share illustration costs; emphasises MacGeorge's talent and need for opportunity

Notes work being offered to Fisher Unwin; questions about unnamed work going to Unwin without Watt's consent

Sweetheart Travellers. Also Story in CL (it probably is Galloway Herd?) Still batting for MacGeorge

Explains The Raiders is former Rogues Island; describes as magnum opus worked on for two years; discusses publication timing

Apologises for inadvertent breach of Watt agreement; explains misunderstanding about book rights versus serial rights

Brief note explaining Watt must handle financial arrangements per agreement

Pleased with Unwin's acceptance of The Raiders; discusses spring publication and The Playactress timing

Comic dialogue about family demands for St Nicholas books and Pseudonym Library volumes; depicts financial pressures humorously

Requests loan payment before November 12th term; explains profound relief enabling better work; mentions £335 plus £16 interest

Outlines business terms for loan: insurance policy assignment, book rights as collateral, repayment schedule at 5% interest

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