Viewing page 72 of 158

This transcription has been completed. Contact us with corrections.

                                       June 14, 1957

Dear Mr. Seligman:

   I hope the enclosed copies of my letters to Gondrand A.G. and Dr. Drack will find your approval. As you will note I enclosed a check for Sw. Frs. 100.- a procedure we did in the past in similar cases; after all this firm never made business with us and a"Zolldepot" has to be made right away. I did not want Dr. Drack to be bothered with money. I am also enclosing copy of letter as regards insurance thereon.

   Attached you will find copy of my accounting to Mons. Sciolette dated June 30,57 date at which we are to render bill as per agreement. I will mail directly to him unless unstructed otherwise by you. He was previously debited for isc. expenses such as photos, custom brockerage, delivery charges [[strikethrough]]etc[[/strikethrough]]  insurance etc. totaling $86.50.(He did not payafor[[sic]] it yet).

   I am also enclosing copy of my letter to General Lindemann which is self-explanatory.

   I had a long talk with Mr. Dattlebaum as regards the Spanish securities. I read your last letter over the phone but as he is leaving for Chicago and would not be available during the next week he asked me to send copy to him. After his return hew ill study the case and make his inquiries. He said the blocked pesetas are always available to you upon surrendering the securities - so there is no particular hurry. He wants to make sure that there are no other possibilities before despatching the securities to Spain, - May-be in the meantime we might get an answer from the Embassy Madrid. They promised a report. I still hope a official transfer might be possible in this particular case??
Mr. Dattlebaum just called me informing me that he sold 500 shares of controls of America at the cost price. Divided due on July 1 still payable to you. He told me for some reason he advised you to get rid of these stock. He will keep funds.

   The agent from the Treas. Dept. left Wednesday right after he had lunch with Mr. Levitt. It was an unusual short audit. He simply disallowed $1,500.-(a global amount) based on Traveling & Entertaining Expenses disbursed by you. If we agree we will naturally have to pay additional tax on 1,500. (roughly $450. - 30%) but now comes the clue: According to new regulations for disallowed amounts spent by the sole stockholder he personally has to pay on his personal tax return the tax. (In your case roughly 550.-38%) They argue your income has increased by the disallowed sum. It did not make sense to me but after [[strikethrough]]it[[/strikethrough]] thinking it over found they have a point there. Mr. Robbins is satisfied. He simply said they disallowed 3000.- not 1500. that's all. Nothing has been signed or settled. We will await your return.-

    I did not hear from Chenue yet. Probably on Monday.

         Best regards,
                       Your very sincerely
                           Ls

Transcription Notes:
---------- Reopened for Editing 2024-03-01 19:39:13 ---------- Reopened for Editing 2024-03-02 22:03:36