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November 8th., 1939.

Dear Mr. Perls:

As you will recall, the agreement we have made with you is coming to a conclusion on December 31st., of this year. You will realize that under these conditions we are unable at present to follow up some of the different prospects we have.

I would like you therefore, upon receipt of this letter to send me a cable stating whether you intend renewing this agreement until June 30th., 1940, or whether you wish to drop it.

My personal opinion is that it should be continued, as aside from the war, general conditions throughout America have improved and we should be able to come to some satisfactory results.

Your cable "ACCEPTE" will mean that the present arrangement is to be extended to June 20th, - or the word "REFUSE", in the other eventuality.

In order to simplify matters, should we not have heard from you by November 25th., we will consider that you have agreed to the extension.

Yours very sincerely,

(Germain Seligmann)

Hugo Perls, Reg.,
Villa Indiana,
Avenue des Tuilières,
Cagnes sur Mer (Alpes M.)
France.

ORIGINAL being posted by TRANSATLANTIC AIR MAIL.
CARBON COPY following by steamer.