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COPY 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]]
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Reopened for Editing 2024-03-02 12:43:58
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Reopened for Editing 2024-03-02 20:55:42