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October 16th, 1939

Dear Colin Agnew:

This is just to confirm our cable exchange:

your cable to us received on September 25th
"THANKS LETTER BELIEVE MIGHT STILL SELL PORTRAIT HERE IF OWNER WOULD MAKE REASONABLE PRICE ARRANGEMENT STOP PICTURE STORED IN COUNTY AWAY FROM TOWN"

our cable to your sent on September 28th 
"OWNER VANDEWEYDEN WILLING LEAVE PORTRAIT WITH YOU STOP MINIMUM SELLING PRICE TENTHOUSAND DOLLARS HOPING YOU OBTAIN GREAT DEAL MORE STOP WE CONSIDER THREETHOUSAND TWOHUNDRED DOLLARS AS COST PRICE PROFITS ABOVE SPLIT THREE WAYS OWNER YOU OURSELVES PLEASE CONFIRM"

to which you answered on September 29th 
"YOUR CABLE RECEIVED WILL DO OUR BEST".

I trust these cables are self-explanatory and need no further comments. In the meanwhile, I had received your letter of September 25th, and forwarded to you Mr. John M. Schiff's check of £130.-.- covering the expenses you have had.

With best wishes

Yours very sincerely,

(Germain Séligmann)

Colin Agnew, Esq.
Messrs. Thomas Agnew & Sons, Ltd.
43, Old Bond Street
London, W.1