Modern & Contemporary Art, including Works from the Lehman Brothers Collection

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Modern & Contemporary paintings, prints & sculpture


  • Modern & ContemporaryWorks of Art 11/01/09including works from thelehman brothers collection

  • * DAVIS(american, 20th century)STOCK MARKET1959, signed, dated, and titled inpencil, numbered AP, with widemargins. Color lithograph with goldleaf on Japan paper.image: 32 x 54 in. (81.3 x 137.2cm

  • Modern & ContemporaryWorks of Art 11/01/09including works from thelehman brothers collection

    Sunday November 1st 2009at 12 Noon

    Sale 1350

    Exhibitions:Thursday, October 29th &Friday, October 30th (10am to 6pm)Saturday, October 31st (12noon-5pm)

    Inquiries:anne h. henry ext 3049Vice-President, Head of DepartmentDirect Tel:

    aimee p. dolby ext 3015Associate SpecialistDirect Tel:

    alasdair nichol ext 3011Vice ChairmanDirect Tel:

    libia mendez ext 3010Associate SpecialistDirect Tel:

    Bidding:bids departmentkati gegenheimer ext 3008Direct Tel: 267.414.1208Fax

    Catalogue $40

    Inside Front Cover: Lot 12 (detail)Inside Back Cover: Lot 221

    Samuel T Freeman & Co.1808 Chestnut Street

    Philadelphia, PA 19103

    Telephone: 215.563.9275

    Fax: 215.563.8236

    126 Garrett Street

    Charlottesville, VA 22902

    Telephone: 434.296.4096

    Fax: 434.296.4011

    Printing by Brilliant Studio

    Exton, Pennsylvania

    Color images of every lot are

    available from mid October at

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  • 2freeansmodern & contemporary works of art



    Buyers Premium

    Sales Tax

    Catalogue Descriptions



    Removal of Purchases

    Shipping and Packing

    Important Informationfor Buyers

    All potential buyers must register for the sale prior to placing a bid.Registration information may be submitted in person at our reception desk,by fax or through our website at We will requireproof of identification and residence and may require a credit card and/or abank reference. By registering for the sale, the buyer acknowledges that heor she has read, understood and accepted Freemans Terms and Conditionsof Sale.

    A Buyers Premium will be added to the successful bid price and is payableby the buyer as part of the total purchase price. The Buyers Premium shallbe: 25% on the first $20,000 of the hammer price of each lot, 20% on theportion from $20,001 through $500,000, and 12% on the portion of thehammer price exceeding $500,000.

    All items in the catalogue are subject to the 7% Pennsylvania andPhiladelphia sales tax. Dealers purchasing for resale must register their taxnumbers on current PA forms. Forms should be submitted to our ClientServices office on the second floor.

    All item descriptions, dimensions and estimates are provided for guidanceonly. It is the buyers responsibility to inspect all lots prior to bidding toensure that the condition is to their satisfaction. If potential buyers areunable to inspect lots in person, our specialists will be happy to preparedetailed Condition Reports on individual lots as quickly as possible. Theseare for guidance only, and all lots will be sold as is as per our Terms andConditions of Sale.

    At the sale Registered bidders will be assigned a bidder number and given apaddle for use at the sale. Once the first bid has been placed, theauctioneer asks for higher bids in increments determined by the auctioneer.To place your bid, simply raise your paddle until the auctioneeracknowledges you. The auctioneer will not mistake a random gesture for abid.By phone A limited number of telephone lines are available for bidding byphone through a Freemans representative. Phone lines must be reserved inadvance. Requests must be submitted no later than 24 hours prior to thescheduled start of the sale.In writing Bid forms are available in the sale room and at the back of thecatalogue. These should be submitted in person, by mail or by fax no laterthan one hour prior to the scheduled start of the sale. The auctioneer willbid on your behalf up to the limit indicated, but is not responsible for errorsor failure to execute bids.On the internet A fully-illustrated catalogue is available on-line Registered bidders may leave absentee bidsthrough the web site and will receive email confirmation of their bid.Freemans is not responsible for errors or failure to execute bids.

    Goods purchased will not be released until we have received full payment.Payment may be made in cash, by check, money order, or debit card.Payments by check must clear the bank before goods will be released.

    Deliveries will not be made during the time of the sale unless otherwiseindicated by the auctioneer. All items must be paid for and removed within5 days. Purchases not so removed may be turned over to a licensedwarehouse at the expense and risk of the purchaser.

    Responsibility for packing, shipping and insurance shall be exclusively thatof the purchaser. Upon request, Freemans will provide the purchaser withnames of professional packers and shippers known to us.


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  • Works from theLehman Brothers


    Please note that all lots from the Lehman Brothers Collection are to be sold not subject toreserve unless noted with a red bullet point () after the lot number.

    This applies only to lots 53, 61, 179, 206, 211, 221 and 282.

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  • Lehman Brothers


    freeansmodern & contemporary works of art: works from the lehman brothers collection


    In 1850, six years after German immigrant Henry Lehman opened a general store in Alabama, Lehman

    Brothers was born with the arrival of Henry's brothers Emmanuel and Mayer.

    Together the three brothers grew the business into a cotton trading company. After the Civil War, they

    moved their operation to New York City where they entered into the stock market in 1887 with a financial

    trading business. Over the next 100 years the company was involved in some of the most significant

    financial deals in United States history. The company underwrote the initial public offerings of F.W.

    Woolworth, Macys, and DuMont (the first manufacturer of televisions) and helped to fund the Radio

    Corporation of American, known as RCA.

    In the 1970s, Lehman Brothers increased its size dramatically by acquiring rival Kuhn Loeb, making them

    the fourth largest investment bank in the United States. During this period, Lehman Brothers became an

    international firm, opening offices in Paris, London and Tokyo. In 1984, the firm was acquired by American

    Express and merged with Shearson. In 1993, American Express divested Shearson and the firm once again

    became known solely as Lehman Brothers. The company's history ended abruptly in September 2008,

    when it was forced into bankruptcy during the recent financial crisis.

    The paintings, drawings, prints and sculpture in this sale were acquired by Lehman Brothers during their

    many years of growth and expansion; they include some purchased as recently as 2008. The nearly 300

    lots here represent some of the works that hung in New York, Boston and Wilmington, Delaware buildings,

    and reflect the company's international business reach. This collection includes American, European, and

    Asian artists with an emphasis on works from the 1970s to present day. For the most part, all works are

    framed archivally and are in near perfect condition.

    Freeman's will sell a second selection of prints, paintings and drawings from the Lehman Brother's

    Collection on February 12, 2010, in a no-reserve single-owner sale.

    Photograph on this and facing page

    reproduced courtesy AP Images

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  • 1 09-1680/193GEORGES SCHREIBER(american, 1904-1977)BROOKLYN BRIDGESigned and dated Schreiber 45upper right, oil on canvassight: 31 1/2 x 43 1/2 in.(80 x 110.5cm)provenance:Butterfields, Los Angeles, May 1st,1991, lot 5129.$4,000-6,000


    freeansmodern & contemporary works of art: works from the lehman brothers collection


    Opposite: Detail of lot 31.

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  • 2 09-1680/246JAMES E. ALLEN(american 1894-1964)STANDING PIPE1937, signed in pencil, from theedition of 20, with wide margins.Lithograph on wove paper.image: 15 1/4 x 10 in.(38.7 x 25.4cm)[Ryan 39].$1,200-1,800

    3 09-1680/245JAMES E. ALLEN(american 1894-1964)THE CONNECTORS1934, signed in pencil, with widemargins. Etching on wove paper.image: 12 3/4 x 9 3/4 in.(32.4 x 24.8cm)[Ryan 66].$1,200-1,800


    freeansmodern & contemporary works of art: works from the lehman brothers collection


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  • 4 09-1680/86CHARLES KELLER(american, 1914-1978)SIXTH AVENUE SUBWAY1938, signed, titled and dated inpencil, inscribed 20 prints, withwide margins. Lithograph on wovepaper.image: 14 x 11 1/4 in.(35.6 x 28.5cm)provenance:Weyhe Gallery, Mt. Desert, ME.$600-1,000

    5 09-1680/85CHARLES KELLER(american, 1914-1978)BREAKING PAVEMENT1937, signed, titled and dated inpencil, inscribed 20 prints, withwide margins. Lithograph on wovepaperimage: 13 1/2 x 10 1/8 in.(34.3 x 25.7cm)sheet: 19 5/8 x 15 1/4 in.(49.9 x 38.7cm)provenan