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On all of the above, I placed a valuation which seemed fair to both Kobayashi and myself, and after a day's consideration, he accepted the same.

He states that the Motonobu screen purchased by me, was certified as being by Motonobu, by Waki and other experts to whom Kobayashi states he submitted it before shipping it to me. This, however, does not make it the work of Motonobu, still I thought it worth having at the price finally agreed upon - $2,500.00.

Several of the other items in Kobayashi's shipment, I am returning to Japan to-day. The balance will go to Chicago, addressed to Kobayashi, who will do what he can to dispose of them in this country.

I have made further examination of the collection brought by Yamamoto, and in the lot, find twenty or more specimens of early Chinese and Japanese paintings, which seem to me to be fine enough in quality to consider purchasing.

I enclose herewith, a list of all of the paintings in the collection, and another list of those which especially interest me, in order that you may know the attributions claimed. All are kakemono, and several of them bear temple seals. Two are said to be from Kenchoji of Kamakura.

Mr. Minakuchi, the owner of the collection, is here with Mr. Yamamoto. He is not a nephew of the late Mr. Machida, but his brother-in-law instead. Mrs. Machida is the sister of Mr. Minakuchi, and she is still living.