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^[[CL]]
[[preprinted]] BORCHARD AFFILIATIONS
2598 BROADWAY
NEW YORK

OFFICE OF THE PRESIDENT [[/preprinted]]

October 31st, 1925.

^[[✓]]  ^[[RS]] 

Mr. Rene Seligmann, 
% Jacques Seligmann & Co.,
705 Fifth Avenue,
New York City.

My dear Mr. Seligmann:- 

I have your favor of the 30th, and thank you for your courtesy. 

At the present time I am not interested in the further acquisition of any paintings. 

Sincerely yours, 

^[[signature]] S. Borchard [[/signature]] 

SB:HH