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OAL:R 3 East 51st Street New York, New York June 14th, 1938 Dear Mr. Séligmann: I bought your check for Ffrs. 300,000 to the order of Crédit Foncier today at the very favorable rate of 2.78-5/8. Your account with the Guaranty Trust Co. has been debited with the equivalent of $8,358.75. I am forwarding this check in today's mail (registered) per S. S. "Normandie" to Mr. Peck with the necessary instructions which you left with me prior to your departure. MR. EDGAR -- Bought for your account 100 shares Lakeshore Mine at 50-7/8. He told me that there is some talk going around in financial circles of a further devaluation of the dollar and he wants to protect you for such an event as, naturally, this stock would rise in proportion to the depreciation of the dollar. GERMAINE MERLANGE -- Wrote me a letter (copy enclosed) together with check on London in the sum of 12 Pounds which I have credited to her at the prevailing rate of exchange under advice. FURST -- Returned the 7 Rodin bronzes which we had loaned him for his exhibition. KNOEDLER -- Mr. McGee called me to find out whether we had any bronzes by Giovanni di Bologna, as they had a client for them. I, therefore, consigned them the two statuettes, "Architecture" and "Astronomy" for a net price of $2,200. The price as per catalogue is $2,500, but I figured that if we had to give them an intermediary a commission of 10%, it would reduce the selling price to the above figure anyhow, the more so as Mr. McGee told me that the bronzes had to be cheap (Paris cost price Ffrs. 17.495; Inventory price Ffrs. 15,000). Trusting that this will reach you in the best of health and spirits, and keeping my fingers crossed for the forthcoming Schiff Sale, I am Always faithfully, Germain Séligmann, Esq. Mayfair Hotel London, England
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