March 26 Wednesday – James R. Osgood wrote to Clemens.

      Mr. Webster has shown us my letter of Apl. 5, 1882 proposing the terms of 71/2% for the first 50,000 copies, and agreeing to exempt you from the working expenses of the book….We have therefore agreed with Mr. Webster that we will assume these charges.

      The two other items alluded to in his letter, viz. Anthony’s time, and the losses by bad debts are properly chargeable to you both equitably and by understanding. …

      As to the losses, you must remember that I told you we could not be responsible for any losses on a 5% commission, to which you acceded. I said we would administer the book to the best of our ability as against loss, and I think that the amount is pretty small considering the magnitude of the transaction [MTP].