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^[[Copy sent GS.]]
^[[FILE]]

[[preprinted]]
P.&.D. COLNAGHI & CO., LTD.
(ESTABLISHED 1760)

TELEGRAMS: COLNAGHI.PICCY.LONDON.
TELEPHONE: REGENT 1943-44.
DIRECTORS:
[[strikethrough]]G.MAYER,U.S.A.NATURALISED 1923.[[/strikethrough]]
J.J.BYAM SHAW,M.A.,BRITISH.
H.J.L.WRIGHT,BRITISH.
D.C.T.BASKETT,BRITISH.
R.Q.HENRIQUES, BRITISH.

14 OLD BOND STREET,
LONDON, W. 1.
[[/preprinted]]

JBS.

12th July, 1956.

Monsieur Germain Seligman,
Messrs. Jacques Seligmann & Co., Ltd.,
5, East 57th St.,
New York, 22, U.S.A.

Dear Mr. Seligman,

Thank you so much for your letter of July 9th, which arrived by the same post as two cheques from your firm, in payment for the remainder of the Raphael half-share, and (in advance) for the restoration of the Vernet.  It was very kind of you to settle this so promptly.

Drescher was here the other day, and I was rather distressed to find he is proposing to go on holiday before he can finish the work on the Vernet drawing. He therefore wishes me to say that he cannot promise it before the end of August. That seems a long time and I hope it will not cause you any inconvenience. In any case as soon as he delivers it here we shall send it round to Chenue, and ask them to ship it to you.

With regard to the Palma Giovane drawing: this certainly seems a fine drawing and I am very glad you have secured it. I am a little doubtful about the possible margin of profit for both of us if I accept your very kind offer of a half share, but I have not seen anything but the very small reproduction which you had when you were in London, and I can imagine that I might feel differently in front of the original; so if I may, as you suggest, defer this decision until the better photograph arrives in the Autumn, I should be very grateful. Certainly it seems to be an unusually important example.

I will get our Accountant to send a formal receipt to your firm.

With kindest regards, and many thanks again,

Yours very sincerely,


^[[signed]]J. Byam Shaw [[/signed]]