GC: You will have before you the body and enquiring mind of
[
257], of Federal Furniture Factories, 206 Lexington Ave.,
N.Y. City, now on his way to New York from St. Louis, and
his associations and connections with E. W. Grove, Jr.,
Isaac Orr of St. Louis, Ben Lauterstein, Jos. Klingenstein,
I. L. Lauday of N.Y., all the associates and conditions as
connected with the Paris Medicine Co. sale, purchase through
and with [
257]. You will answer the questions we will ask
you regarding this.
EC: Yes, we have the enquiring mind [
257], also those
associations and connections as surrounding the conditions
regarding the purchase of the Paris Medicine Company and
those through whom the body, the mind, is working with and
attempting to get the proper connections for this purchase.
Ready for questions.
(Q) What progress has been made by [
257] in St. Louis?
and what is the next move?
(A) He's already doing it! Why go backwards?
(Q) What progress has been made in N.Y. City with Wertheim?
(A) Little - yet still the interest that has been shown,
and has been given. These connections and associations must
be gotten together and thrashed out.
(Q) Is proposition of 12 million to estate and 100,000
shares B stock a fair consideration of E. W. Grove?
(A) Or TO E. W. Grove. This will be considered, provided
there is the definite given amount for the use of the name
in and on the products manufactured. A million dollars for
that.
(Q) Is it the right decision for [
257] and Grove to be
directors instead of president and chairman of board?
(A) This may be easily accomplished through this manner,
yet there will not be the same decisions or activities in
the operations, as is of course seen and known. Policies
would be entirely different.
(Q) Is Boston a good place for the meeting with our group?
(A) Very good. Connecticut would be possibly better, but
Boston very good.
(Q) Should Wertheim and E. W. Grove still be kept in the
position of main bankers?
(A) E. W. Grove and Wertheim - these are in different
positions as regarding same, but Wertheim may be kept in
the position of the principal banker.
(Q) Will they give Grove the 1,000,000 cash for his personal
name, E. W. Grove Jr., in addition to the stock and amount
of money to the estate?
(A) Should be.
(Q) Considering all minds concerned, when will deal now be
consummated?
(A) That's like any other condition that is to be acted
upon by individual minds. As it is at PRESENT - in the
course of thirty, sixty, to ninety days; though this may be
changed to be materially shortened, or it may be materially
lengthened. No definite things can tell what ANY one would
do. Three things, as has been given, are hard to be under-
stood: The way of an eagle in the air; of the serpent upon
the rock; or of the mind of a man - regarding a maid or any
condition. [Pr. 30:
18-19]
(Q) Is the set-up of 400,000 shares stock and 200,000 B.
satisfactory for present needs?
(A) Satisfactory, provided the price is made at such a rate
as to make it evenly in the operations; for the operating
must depend not upon the price of the stock but upon the
earning capacity OF the stock by actual operations in the
products as are manufactured. Let it be made at such a
standard that the actual operations will produce at least
a fair, a conservative, an almost certain dividend for the
investors in such stock. Not be a speculative one.
(Q) What is best issue price of the 400,000 shares?
(A) Just as given.
(Q) Does Ike Lande [Isaac Lande], his attorney, understand
the details of such a deal as it is desired to be
consummated?
(A) Very good. There are some better - and there are some
WORSE - but the sincerity should count for much.
(Q) Will and can he be relied upon for [
257]'s best
interest?
(A) As given.
(Q) Will [
257] go to Nova Scotia to visit Mr. Grove?
(A) If he so desires.
(Q) What should [
257]'s actions be with Mr. Grove now to
please him and look out for their mutual interests?
(A) This has been outlined very much and VERY well. DO as
given!
(Q) Has [
257] conducted himself properly or otherwise in
the handling of this business matter -
(A) VERY well.
(Q) Please guide [
257] as the Forces -
(A) We are through for the present.
Copy to Self
Copy to Ass'n file
BACKGROUND
6/18/29 He obtained Business Rdg.
257-42 answering
questions in re closing Paris Medicine deal.
6/22/29 He submitted further questions.
6/25/29 He verified appointment by wire.
REPORTS
7/05/29 He was present and allowed to conduct his Business
Rdg.
257-44.
Edgar Cayce Readings © 1971, 1993, 1994, 1995 by the Edgar Cayce Foundation