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June 15, 1955 Gentlemen: Stock Insurance In answer to your letter of June 8, 1955 we herewith confirm the value at risk as at May 5, 1955 amounting to $ 356,461.-- (Three hundred fifty-six thousand four hundred sixty-one Dollars). Through an error we omitted to deduct the 20% on the additional $ 10,000.-- for the Painting by Deggs - your assumption was correct. We are sorry for the inconvenience caused you and remain, Yours very sincerely, JACQUES SELIGMANN & CO.,INC. (O.Porjes) McKay Morant & Co., Ltd. King William Street House London E.Cq 4 England
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