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TLS, one page, 7.25 x 10.5, personal letterhead, February 29, 1932. Penney politely declines sending a contribution to an organization. In part: “I should like to join in a project so worthy were it not for the fact that all the funds that I have available for gifts have already been allocated during these times of constant appeal. I regret, therefore, that I must decline your invitation to become a sponsor of the movement in question.” In fine condition, with a rusty paperclip mark to top edge, and small area of discoloration to right side. RRAuction COA.