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RS:R

November 4th, 1938

Dear Mr. Offin:

I thank you for your kind lines of November 3rd.

Don't think that we do not appreciate your spirit of cooperation and that we do not think well of your excellent and interesting publication. However, we have decided -- as long as business conditions are so poor in our trade -- to discontinue any advertising. 

It is absolutely impossible for us to make an exception in your favor because publications through which we have advertised for years and in which we have discontinued to take space would immediately pounce upon us.

Therefore, I am afraid that for the time being we will have to give up the idea of taking space in "Pictures On Exhibit". However, if in the near future we again have an opportunity, such as we had last year, to put some business your way, we certainly will not fail to get in touch with you.

Kindly believe me

Very sincerely yours,
(René Seligmann)

Charles Z. Offin, Enq.
% "Pictures On Exhibit"
67 West 44th Street
New York, New York