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MCKAY MORANT                  8th June 1955

Messrs, Jacques Seligmann & Co., Inc.
5 East 57th Streer
New York 22
U S A

Gentlemen:

&Stock Insurance
Referring to our letter of the 24th ultimo, we regret to find that through a clerical error we stated the total amount of your [[crossed out]] present Stock as $ 348,461.-, but this should have read U.S. $ 356,461. as the amount of No. 7420 "Family Bellelli" Painting by DEGAS, was increased from U.S. $10,000 to U.S. $ 20,000.
In your letter of the 6th ultimo, you revised the value at risk as at 5th May, to U.S. $358.461, but it appears to us that you omitted to deduct the 20% from the additional U.S. $10,000.
The total of the various lists sent us (including the above increase) no amounts to ................. U.S. $ 445,576.
Less 20%...............   89,115.
     U.S. $ 356,461.

and if you will confirm that our assumption is correct, we will amend this declaration on our slip.

Yours faithfully, 
MCKAY MORANT & CO. LTD.

(Signature)

[[left margin]] In the excitement I forgot to deduct the 20% GS [[/left margin]]

Transcription Notes:
---------- Reopened for Editing 2024-03-02 12:43:58 ---------- Reopened for Editing 2024-03-02 20:55:42