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WJ

^[[checkmark]]

February 28th 1921

Messrs. P. W. French & Co.
6 East 56th street
New York

Dear Sirs,-

We beg to hand you herewith credit note for one half sale of the portrait by Jean-Marc Nattier, which we had on consignment, and of which Messrs. Jacques Seligman & Fils, Paris, inform us you had acquired one half share interest ^[[from them]] The sale was made January 3rd 1921.

On the invoice you are credited with one half of the full amount debited to the purchaser.  On the other hand, you are debited on the same invoice with one half of the Luxury Tax, which had been paid by us in full.

We understand that you will be kind enough to send us your check for this amount of $2400 in the course of the month of March.

The conditions of the sale agreed to by the buyer are as follows:
the total amount is payable not later than the 3rd of January 1931; [[strikethrough]] interest is payable at the rate of 6%, from June 1st 1921, on whatever balance is due.  This interest is payable on June 1st of every year for the preceding year.

We shall be obliged if you will please acknowledge receipt of this letter.

Very truly yours,
JACQUES SELIGMANN & CO. INC.
By