Concerning Waterhouse best Christmas wishes, his opinions about the etchings of the "Belle Dame", and his offer to help Woodiwiss with his art collection.

Concerning Waterhouse's painting the "Belle Dame" having been selected for an exhibition, his thanks to Woodiwiss for the photographs he sent, Waterhouse's painting of Mrs. Newton Robinson, and his trip to Switzerland.

Concerning Waterhouse's return from Switzerland, his receipt of the photographs of the "Belle Dame" painting sent to him by Woodiwiss, and his request for Woodiwiss to write to Dixon to send Waterhouse more than one print.

Concerning Waterhouse's trip to Switzerland, his intentions to sign photographs of the "Belle Dame" once he returns, and his hope that the etching of the "Belle Dame" will turn out well.