Hence my nervousness that the property could get away from us

In the late 1950s, producer David O. Selznick and director Billy Wilder had plans to make a film together, starring Jennifer Jones, Selznick's wife, in the female lead. The letter for this post shows that the two wanted to make a film adaptation of a story by Austrian author Stefan Zweig, although it's unclear which of Zweig's works they were planning to film. In any case, it was a Zweig story dealing with an adult subject, which was previously considered taboo. At the time of Selznick's letter to Wilder, the Zweig property had not been purchased yet and Selznick worried that, if they didn't act quickly, it might slip away from them. 

Of Selznick's five-page missive to Wilder, this is the first page. "The [Audrey] Hepburn picture", mentioned by Selznick, is Love in the Afternoon (1957), and "the diamond story" is likely Some Like it Hot (1959). Paul Kohner, referenced in the letter, was a prominent agent hired to secure the rights to the Zweig property.

Source: RR Auction

Transcript:

28 May 1958

Mr. Billy Wilder

Samuel Goldwyn Studios

North Formosa

Hollywood, California

Dear Billy:

I am terribly afraid lest Jennifer's fervent desire, and what I had understood was your desire, to make the Zweig story with her —and to make it after you had finished the Hepburn picture and the diamond story at the latest (unless, unexpectedly, it became possible to do it earlier)— is getting all snarled up, in consequence of mysterious goings-on which frankly I don't understand. To obviate the possibility of any misunderstandings, I should like to impose upon you this statement of my position, which normally I would have thought quite unnecessary.

As you know, MCA is our agent for Jennifer, and our dealings with them have been through George Chasin. As is my wont, I have by memoranda informed Chasin of our conversations concerning the matter, and have further expressed my views, as they occurred to me, in the hope that it could be expedited, and out of my fear that the property might fall into the hands of somebody else. I am aware that the property has been around for a long time without it being bought; but the danger of it falling into other hands is, in my opinion, enormously aggravated by what could become the knowledge, if indeed this has not already happened, that you want to do it, that Jennifer wants to do it, that I am interested in it; and, at the very least, this could substantially boost the price— which, from what I understand of your own plans, could be most damaging to you personally. Furthermore, the principal reason why it has not been picked up sooner by others is obvious: the subject matter is of a sort that would have made it taboo until the recent easing, from a practical standpoint, of regulations on adult subjects. Additionally, there is apparently the complication about the French rights, which I was glad to hear from you Kohner thought he could clear up; but which would have kept many companies, particularly the European producing units, from wanting it; but since this apparently can be cleaned up, and since further this would not necessarily today be a deterrent to American companies (who are only able to exhibit a fraction of their pictures in France anyway, because of quotas), this too is no longer a factor upon which we can rely to obviate competition. Hence my nervousness that the property could get away from us while we were going through these elaborate manoeuvers and delays. 

****

Below is the last page of Selznick's letter (the other pages are not provided by the source). Walter Mirisch, mentioned here, was an independent producer and produced many of Wilder's films through The Mirisch Corporation. Interestingly, Selznick also mentions William Wyler, the renowned director; Wyler too is named as a possible producer and one of the potential buyers of the Zweig property (either independently or perhaps in partnership with Wilder). At any rate, Selznick's main concern was clearly to purchase the rights to the property before competitors did, with the matter of ownership and possible production structures to be settled later. 

Henry Citron, also mentioned in the letter, was a MCA agent, like George Chasin.

Transcript:

If, on the other hand, you still wish to wait for Mirisch's return, that is also all right with me; and in this case I should appreciate your consent to my telling Jennifer that you are going to go forward with Mirisch, if he is agreeable. And, finally, I do again urge that we instruct Kohner to close. By the time the copyright could be cleared and the contracts drawn, we would presumably know whether it has been approved by Mirisch or by Wyler; and we could then simply insert the name of the buyer -- whether you, or myself, or Mirisch, or Wilder-Wyler, or whatever other company or unit does go forward with it. 

You decide the course of action, or of inaction, as the case may be: let me know, and I will follow it precisely. 

You are of course perfectly free to show this letter to Citron and/or to Chasin.

Affectionate regards.

Cordially,

'David' (signed)

****

In the end, the project never happened, and Selznick and Wilder never worked together. In August of the same year, Wilder started filming Some Like It Hot, generally considered one of the best comedies of all time (despite Selznick's warning to Wilder beforehand that gangsters and comedy didn't mix). Selznick, by contrast, would never produce a picture again. While he kept looking for projects, his last film remained Charles Vidor's A Farewell to Arms, which was released in December 1957.

Incidentally, other than this letter, I could find no more information about this unrealised Selznick-Wilder project. 

David Selznick (right) with Rock Hudson and Jennifer Jones, the stars of the last film he ever produced, A Farewell to Arms (1957). 

In the summer of 1958, instead of working with Selznick, Billy Wilder (right) started shooting Some Like It Hot (1959); here he is pictured on the set with one of his stars, Marilyn Monroe, and Maurice Chevalier who paid them a visit.