[1] December 7, 1927 Nancy C. Russell, 725 Michigan Boulevard, Pasadena, California. Dear Mrs. Russell: Re: IMP-5740 Fine Arts Policy For your ready reference, we are enclosing herewith a list of the paint- ings insured under the above numbered policy which has an expiry date coming up as of January 24th, 1928. We have marked in pencil the items that were eliminated last April. If you have made ay sales other than the ones shown by our pencil marks you should advise us of them, giving the date of sale in order that we may cancel them from the policy and refund to you the proper unearned premium. It is our understanding that you will wish to renew the insurance on the larger number of these items at least when the present policy expires on January 24th. Therefore, we would request that you mark each item with the word “renew” on the right –hand column and next to the amount shown as insured on each picture. Then return the list to us in order that we may issue the policy in accordance with your present desires. Likewise, if any pictures have been sold, mark this in the left-hand column as we have done as of April 3rd. By this method we can eliminated quite a bit of bother on your part as to writing a long letter trying to tell us about it. It is no doubt superfluous that we call your attention to the fact that we consider the insurance that you are carrying on these pictures is very inadequate. In most instances we are reasonably sure that the amount of insurance you are carrying is not over 50 % of the picture’s value and perhaps only 25 per cent of its value. Under these circumstances we can not consistently suggest any reduction in the amounts unless the picture has been disposed of, and we respectfully suggest that you increase your insurance if you can do so on the larger pictures. There isn’t a doubt in our mind but what the insurance value is very much more than the amount you carry. You perhaps are as well informed as we are relative to values, but if the stories I hear are true concerning what [handwritten at angle] has been refused for the pictures exhibited by Sid Willis, then you would hindrance be exercising good business judgment to keep these pictures (which are in reality your capital) as fully protected as you are financially able. [handwritten marks and tallies along left side and bottom] [handwritten] 1927 49 1903 24 24 25 [2] -2- Mrs. Nancy C. Russell You may be interested in learning that we have lately been equipped with authority to issue the policy in our office, and inasmuch as it appears that you will be in California, or at least away from Great Falls, from six to eight months during the year, we are going to send you a monthly letter of inquiry relative to whether or not any pictures have been sold. I listened to Mr. Conway at our Rotary meeting November 30th when he re- ported the progress of the work of the Charles R.[sic] Russell Memorial Com- mittee, and I am glad to note that apparently this committee has or is going to exercise their option on the studio property. Mr. Conway certain- ly did very well in outlining the work which had been accomplished and that which was in contemplation. In closing, I would ask that you give this matter your early attention, in order that we may give you the service to which you are entitled under this policy. Thanking you in advance, we are Very truly yours, HUNTSBERGER-GIVENS COMPANY [signed] E.E. Givens EEG:B [Transcribed by Lauren B. Gerfen, 2012-07-10]