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desirable for your collection. The Constable is fine quality and a very good period almost exactly the same as the one in Kensington Museum. I should think it would be a picture for you. One of the most beautiful pictures in the collection is No 259 a watercolor by Turner, you might like something like this for your country place. I should think it would bring £5,000.-- it is so beautiful - I wouldn't desire to buy this for stock but if you are interested would buy it for you without commission. The 1st four I should like to buy for stock if prices are not too high, + if you were interested naturally you could have them for 10% advance -- What I want to know is whether we can have the additional $125,000.- in event of our needing it as I don't want to be bothered about money + we are now in splendid prices -