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WJ:KP July 6th, 1932. College Art Association, 137 East 57th Street, New York City. Dear Sirs: In reference to our letter of June 16th, we beg to state that we have received a letter from your Insurance Company, stating a certain price which they would authorize for the restoration of the painting by Judith Leyster. We wish to point out to you that the insurance on said picture is a matter entirely between you and your Insurance Company. We are doing are best to have the restoration done at a price as low as possible and shall then sent you our bill. Very truly yours, JACQUES SELIGMANN & COMPANY, Inc. by