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[[top margin]] GS [[/top margin]]

3 East 51st. Street,
New York, New York.
April 10th., 1939.

Dear René:

I am writing you today about a certain matter about which I need your advice.

I have just bought for the New York firm and Italian painting of the 17th. Century, by STROZZI, for which I paid in the following manner -

a check from this firm of $1100., plus two paintings attributed to VAN DER HELST (Dutch 17th. Century) belonging to the Société-en-liquidation.

I also obtained that should the pair of van der Helst be sold above $1900., one-half of the difference between this price and the selling price should come back to us.

The van der Heist portraits have as purchased price in Paris, from my documents, Frs. 12,000.

If I am not mistaken, the "Société" has no right to make exchanges or anything of the sort. Therefore, if this is true, I would suggest that the New York firm buy the pair of van der Heists for that price*, which amount in Dollars would be immediately deposited at the Guaranty Trust here.

Should we obtain at a later date anything further from the ultimate sale of the two van der Heists, as I explained above - and which I doubt - I would also turn over that extra amount to the "Société-en-liquidation".

I made this deal as I thought it was one way of getting rid of the van der Heists. On the other hand, should the "Société-en-liquidation" be able to take care of the whole deal and reimburse this firm of $1100., I will gladly turn over the Strozzi to the "Société-en-liquidation".

[[note]] 
to Société-en-liquidation 
1/3 of profit above $1100 - + 12000, - [[/note]]

Monsieur Réne Fulda,
49 rue Vineuse,
Paris.

[[bottom margin note]] Frs 12,000 [[/bottom margin note]]

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