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Dear Mr. Thompson:

[[Postal?]] Insurance

We are shipping momentarily by Air to a client in L.A. on approval.

#8424 "La Babylone d'Allemagne-
Ptg by Toulouse-Lautrec
selling price $175.000.-
(     )

We are keeping the above insured on our floater while in transit both ways and while in the custody of our prospective client at the above amount, to be considered as new "indisputable valuation." As usual a nominal value will be deduced for the courier.

Thanking you for your confirmation of the above.
[[signature]]

Transcription Notes:
---------- Reopened for Editing 2024-03-06 16:24:21 ---------- Reopened for Editing 2024-03-06 23:36:43 leaving this open as I think someone can decipher the missing word