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May 18, 1951

Dear Sir:

We received your letter of May 15, 1951, which has our best attention.

Thanking you,

Yours very truly,
JACQUES SELIGMANN & CO., INC.

(O. A. Liechti)

Mr. Jean Davray
c/o Societe des Nouveaux Immeubles
29 Quai du Mont Blanc
Geneva, Switzerland

GS