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-Page IV-

December 16th, 1937

IV. I am perfectly in accord with your wish to propose and show these drawings first to the Morgan Library and not mention them or show them to anybody else until negotiations shall have been finished one way or the other with that institution; unless it is mutually agreed between us to do otherwise. In this connection, I will write you later certain ideas that I have regarding proposing the drawings to other institutions or individuals after the Morgan Library matter is cleared up.

V. Regarding the commission which you mention in your letter, the figure of 10% on any and all drawings sold, is perfectly agreeable to me, with the exception of your stipulation of 5% for any drawings sold to the Morgan Library. In this case I must likewise insist on the usual and normal commission of 10% for the following reasons. The work entailed is identical with what I would have to do under any conditions with any institution or individual, and furthermore, contrary to what you may believe, the situation with this institution has been rendered perhaps even more difficult than might ordinarily be imagined, due to the previous negotiations and conversations you had with Miss Greene. I cannot emphasize this point enough because although you may have had the impression that Miss Greene was very anxious to acquire certain drawings for the Morgan Library, I firmly believe that the enthusiasm and desire to do so has been dampened and considerably cooled off because of the needless obstacles and complications which you have put in her way. Therefore I feel very strongly that above all other institutions and individuals, I will have to overcome many more difficult obstacles and have considerably more work to do than might be imagined. 

VI. I am very grateful for your offer of a 15% commission on all objects other than your drawings (by that I mean your paintings and sculpture, including the Riemanenschneider). However, for the time being, let us concentrate on the drawings. I do not think I can work on so many things at once and I am sure that you will agree with me that the drawings are the most important thing for the moment. 

I should also like to add that I am very grateful for your generosity in allowing me a commission of 5% should the Boston and/or the Fogg Museum purchase any of your drawings before I take up again this contact. 

VII. You write that I should have your consent to use the help of third persons as negotiators. I think that it is rather short-sighted on your part to force me to do this, as a situation might crop up where it might be necessary for me to promise on the spot an extra renumeration to a third party. This is a case (I want to assure you that at this present writing I am thinking of no one in particular) where immediate action might be necessary, and where again a delay due to telephoning or telegraphing might be extremely detrimental to a decision being reached. I suggest, therefore, that you leave it to my discretion as you will understand that I have no special desire or interest in causing or helping the immission of third parties to such a deal. In fact, "en principe" I am opposed to it.  

t.s.v.p.