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5 East 57th Street
New York 22, N.Y.

June 24, 1949

Dear Francois Gerard:

Mrs. White sent a letter to Nesle in which she asked him for an estimate to send to the insurance company. As Nesle put down a price from $150.- to $175.- plus eventually a sum for depreciation I went to him and told him that I have reason to believe that the fixtures had been insured far below their value because as everyone knows, the insurance rate against breakage is so high that one limits ones risk. 

Under the circumstances, I asked him to do the job as cheaply as possible so as to leave a margin of depreciation as big as possible.

Mrs. White, on the other hand, when I told her the same, said that that was not her business but that she would count upon you to make good the difference between the insurance and the estimated depreciation. 

I hope for the best and ask you not to worry before anything of really disturbing nature has developed. 

Mrs. White is in the country most of the time. I might hear from her before leaving on the 30th of June for:
Montauk Manor
Montauk Point
Long Island, N.Y.

Mr. Francois Gerard Seligmann
23 Place Vendome
Paris, France