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An American Place,
509 Madison Ave., New York City.
February 15, 1944

My dear Mr.Warner:

Thanks for your favor of the 14th, enclosing the check for $500.00 for the one Marin you are keeping. I assume that the two you are returning will arrive in good shape.

Now as for the exchange of the Marin you have, and for which you paid $2000.00, I do want to say, so as to avoid any misunderstanding, that the "sea with ship" is the watercolor with the ship to the right side, and a curious-shaped "cloud" in the sky on theleft side. This is the picture you wanted, and I said at the time that it was $4500.00, a special rate for you, as during the Marin exhibition last year was quoted at $6000.00. You see I want to make sure you're not thinking of that larger boat with sea that is not for sale at any price. Marin definitely wants to keep that, as he has another picture in mind to be based on that one.

So I wont send you the first Marin mentioned until I hear from you that it is that one you have in mind, for the exchange with your paying the additional twenty-five hundred dollars, paying five hundred dollars a month at your convenience. If you decide on this new Marin I will let you know how to make out checks in payment therefor. You see, part will go to Marin, and some will go to Dorothy for the Rent Fund.