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[[left margin]] [[strikethrough]] Answer later [[/strikethrough]] [[/left margin]]

3 East 51st Street
New York, New York
July 2nd, 1937

Dear Mr. Séligmann:

Paris drew on our account with J.P. Morgan & Co:-

check #1103 for $9,000 for which they credited us at 22.475 with Ffrs. 202,275
check #1105 for $6,000 for which they credited us at 22.45 with Ffrs. 134,700

$15,000  Ffrs. 336,975

[[left margin]] file Mr. Peck 13/6/37 [[/left margin]]

I am writing these lines under assumption that the sum of $15,000 was advanced to the Paris firm in the nature of a temporary loan.

It now appears that the French franc will be reestablished at approximately 4 and the above French francs therefore equalize only approximately $13,479 which would mean a loss of exchange to us of $1,521.

I believe, therefore, that Paris should reimburse us with the full amount of $15,000 eliminating thereby this loss of exchange. 

Very faithfully yours, 

O.A.Liechti

Germain Séligmann, Esq. 
Suvretta House
St. Moritz, Switzerland

Transcription Notes:
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