Arms Mamfacturing Fire Patent Hartford, i = Commie Cos e2 February 10, 1927 The Browning Ogtien, Brose Coe, Utah Gentlemens: the Goverment 1, 1924, We have been some time in concluding a settlement with Autometic 2ifles manufactured by them for Browning of Sweden for of their own account under contract made with them through the joint efforts finally Only within the last few days heve we Tabrique Nationale and cerselves. om 2115 guns mamifactured between April royalty of received from then payment and September 30th, 1926+ this In bookkeeping our accounting royalty, comdepartment discovers thet in adjusting with you for reyalties on rifles, under Sweden, of ent Gevernm the fron received ts ponents and aircraft gun componen 50% was used basis the 1927, 15, Jamary to 1926 statement dates of January 15, as set forth in the original agreement for such royalties, instead of on the basis of 5S and 48% as agreed to betwoon us in letter signed duly 21, 1925. a statement previous including statement for We the delayed 1926 and are therefore taking the liberty of enclosing royalty just received and correcting the 27, which edjustment results in a debit te your escount of $652.37 and eredit of 645,617,54, or a net gnount to your credit of 343,185.17, cheek for which letter amount we are forwarding to the Chase Yational Bank of New York, in accerdance with your standing instructions. we felt thet you were layed until entitled the eustomary Inaeemech as the eredit was te immediate credit rather quarterly of considerable than to have it amount, de- statemente The failure on the part of the Swedish Goverment those to account earlier for the rifles mamfactured, was ea matter of chagrin to made been had error that them satisfied '. in guthority after we had through P. There is no basis for suspicion of intent on their part in their accountinge to the to ignore or avoid an obligation as the matter has finally been explained ouselveses entire satisfaction of F. Ne and Yours very truly, COLT'S PATENT FERE ARUS MPG. CO. Se lic Stone President.