At the very top of the letter Bell asks if she might have a yearly stipend. In the main body, Bell writes in thanks for receiving a cheque for a book title that she does not name. She explains that Harcourt and Brace have paid her £7 for a design already made, whereas this time she is creating a cover especially, so asks for £10. For Kew Gardens she explains that she can accept half the profits without a £10 pound advance as an experiment as they both share risk, Woolf's money and her work. She would like to share equally. Bell also lets Woolf know that Lyton [Strachey] will be arriving and that he is in a bad mood, she asks if they could meet at her address or at Rodmell. She describes events taking place on a Sunday to Leonard which involved John Banting and 'Lydia'.

Handwritten letter initialled by Vanessa Bell