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RML:R

3 East 51st Street
New York, New York
September 30th, 1937

Dear Germain and César:

You will probably, upon reading the enclosed letter, say that you foresaw that this might very well happen. I, unfortunately, cannot take this point of view as I feel most strongly that if I had been able to have the Daumier from Brame a month ago and had been able to go down and see Mr. Phillips as originally planned, I would have at least had a chance to definitely conclude the deal with him and gotten some sort of cash payment.

Mr. Phillips, despite contradictions to the contrary, evidently has had money during the past year and a considerable come-back in his securities, as was evidenced first by his serious consideration to purchase our Daumier, and secondly, by the fact that he bought a Goya portrait from the Newhouse Galleries.

I don't know whether you are aware that the stock market took a terrific licking on three specific occasions during the past few weeks, and it would not surprise me at all if this had had a certain effect on Mr. Phillips' desire to return the picture at this time.

I have ever confidence that, with a certain amount of persuasion on my part, I would have been able to get Mr. Phillips' to sign on the dotted line, had I been able to see him as originally planned sometime ago which, under the present circumstances, depended on the arrival of the other Daumier.

In view of the enclosed letter, I leave it up to you whether you would still like to send over the Brame Daumier. Frankly, I feel quite sure that Phillips will not buy it (certainly he prefers ours), and if it is merely for the pleasure of showing it to him for comparison with ours, it seems to me that we could save ourselves the expense of ship-ping and insurance. On the other hand, if you feel it is a good picture to have ins tock for the coming year, that is another matter.

I cabled you yesterday about the Ryersons, as Mrs. Ryerson is returning here again in about ten days or two weeks and said she would come in to see whether our shipments were in. Therefore, I hope very much that you will have some things for me to show her, particularly one or two Cézanne landscapes.

Best wishes-
Sincerely-
Bob.

P.s.

I have many things to write about, but as you are sailing soon, they can wait.

Germain Séligmann, Esq.
9, Rue de la Paix
Paris.

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