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OAL:R

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3 East 51st Street
New York, New York
July 13th, 1939

Dear Mr. Séligmann:

EXHIBITION WORLD'S FAIR -- In further reference to their letter of July 8th, copy of which I forwarded to you for instructions per S. S. "Normandie", I had a visit from one of their representatives and two rather frantic telephone calls from their office and two from Mr. Farjean's office who is acting as insurance broker. I am told that something "drastic" must be done in order to keep the exhibit going, the daily overhead running well over $1,000 and the daily receipts not even covering part of this charge. I let them know that there was nothing I could do about this matter until I heard from you, but could not help reminding them that you had originally offered to keep our loans covered on our own policy at no expense to them. It now seems that they would be very glad if you would kindly reconsider this offer, but in this connection they would like to have an endorsement of our underwriters (Lloyd's) to the effect that the two paintings are fully covered while at the Fair and that all recourse against them is renounced. 

Now, our policy does cover exhibitions of this kind and does renounce recourse against the exhibitors and Lloyd's would also, I am certain, issue such an endorsement, but I wish to remind you that on our policy the Mantegna and the Vermeyen are insured for $50,000 and $8,000 respectively, while the Fair insured them, at our request, for $150,000 and $20,000, and, of course, in Lloyd's certificate our figures would appear. However, should you be interested in keeping your paintings at the Fair, I could, should you authorize me to do so, write them officially -- as we have done, for example, with the San Francisco Fair -- that our loans are fully insured by us and that we renounce all recourse against them, which would eliminate the necessity of getting a Lloyd's endorsement. 

I know that you are terribly busy over there and hate very much to bother you with this matter, but as a matter of fact, the Fair official said he would appreciate having an answer "as quickly as possible, preferably by cable".

BERAIN TAPESTRIES - SCHIFF -- The Yale University of Fine Arts finally called for these objects. I advised Mr. Schiff and also asked Lloyd's for a refund.

DESIGN ASSOCIATES -- Made their monthly payment of $37.50, account Sakier.

MR. EDGAR -- Sold 100 shares Atchison, Topeka & Santa Fe R. R. at 27.

[[note]] I trust that the forthcoming auction will again be a great succes. I am keeping my fingers crossed.

With best wishes,

very faithfully your

O.A. Liechti [[/note]]

Transcription Notes:
The address is 3 not 5. Please check this. ---------- Reopened for Editing 2024-02-11 16:58:43