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WJ:KP

January 18th, 1935.

College Art Association,
137 East 57th Street,
New York City.

Dear Sirs:

We understand that you will have the two Drawings by MATISSE - 

Our #1540  "Le Repos - Deux Femmes"
# 1483  "Portrait de Femme"

sent for early next week, as arranged, for their exhibition.

We hand you enclosed herewith our consignment invoice with selling prices. We note that these pictures will be insured by you under an All Risk Art Policy, wherever they are until returned to us, and that you will pay for all expenses in connection with these two pictures. They are to be insured for their selling price, less 15%.

It is also understood that you will make appear the name of Jacques Seligmann & Company in the catalogue and other documents in connection with the loan of these pictures. 

Very truly yours,

JACQUES SELIGMANN & COMPANY, Inc. 
By 

GS