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[[stamped]] G. McKAY MORANT & CO
EST. 1887
Incorporated Insurance Brokers,
LONDON, E.C. 4.
[[?]] BROKERS [[?]] [[line]] [[/stamped]]

[[stamped]] [[underlined]] TEMPORARY ADDRESS [[/underlined]]
54, BROXBOURNE ROAD,
ORPINGTON, KENT.
(MR A. L. HENSON.) [[/stamped]]

ORIGINAL: BY STEAMER.
COPY: BY AIR MAIL.

29th April, 1942.

Messrs. Jacques Seligmann & Co. Inc.,
5, East 57th Street,
New York.

Dear Sirs:
[[stamped]] DUPLICATE [[/stamped]]

John M. Schiff.

We are much obliged for your favour of the 10th inst., but, owing to the conditions of insurance over here under the War Damage Insurance Acts 1939 and 1941, we consider that the insurance by Mr. Schiff of the Picture in question is not a practicable proposition for the following reasons.

The tree principal Schemes of War Risk Insurance in operation in this Country, are, broadly speaking, as follows:-

1.  [[underlined]] Commodity Scheme. [[/underlined]] applying to Traders Stocks for sale, of which Scheme you are already aware.  Policies under this Scheme are only arranged for one month at a time, to expire on the second day of the month, and the rate of premium for the current ^[[monthly]] period is 7/6% (3/8ths of 1%).  You have already had a form of application for this showing the various Groups, but we enclose another one herewith for your reference.

2.  [[underlined]] The Business Scheme, [[/underlined]]  applying to the insurance of Plant, Machinery, and Business Equipment, in connection with which we enclose an Explanatory Memorandum (which also partly deals with the Private Chattels Scheme next mentioned), together with an Application Form for general insurances (apart from those for certain specified Activities).  The rate for the current year to the 30th September, 1942, has been fixed at 20/-% (1%)

3.  [[underlined]] The Private Chattels Scheme [[/underlined]], of which we also enclose a separate Explanatory Memorandum and Application Form.  In this case the rate for the year from 1st May, 1942, is fixed at 20/-% (1%) on

A.H.
B.M.