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1128 J. M. Ensor, Direct Examination.
me it would be a little later, and so I went down, and lie was not quite ready, and I went into a room where there was a big table and there was an army of them sitting around it, and, of course, I met them, they introduced me to all of them around, and finally, I got tired of waiting, and I said "What's the reason some of you sitting here, you fellows, can't open up and tell me what that offer is?,, and none of them opened up, and Kennedy came in after a while, and sat down and the first thing he said was, "Now, Ensor, I want you to know, by God, that I am a bad man," and he said, "Whenever I make an offer or proposition one time," he said, "I won't be responsible for the outcome, if it ain't accepted." That is about as near the words as I can remember. Well, I discussed about whether we would sell out or not, and I told him I had just begun to make some money out there, and that I didn't want to sell if I could help it, but I knew that they had the advantage of us, we had to get onr supply from them; and finally he made us the offer or, I asked him to put it down in black and white, and he shoved me a piece of paper and said, "No," for me to put it down myself; and he said he would give us f 14,600 cash in five years' time in twenty payments at five per cent, interest and $6,500 in seven per cent, preferred stock. Then he talked on a little while and he said of course we owed a week or ten days on films, which naturally we had a right to owe until the time for settlement, and he would pay up whatever we owed, and also take all merchantable machines and supplies off our hands that were as good as new, at the regular catalogued prices.
Q. Well, was anything else said about this offer? Did you accept it? A. I told him it was a corporation, and I only owned a part of it, that I couldn't accept it. It was the intention for me to take this offer back to my people, and I asked him, I said, "One of the first questions Mr. Wing will ask me" — he is the President — "Mr. Wing will ask the first thing if these notes are good, and I don't know whether you people have got anything behind this corporation or not, and I want to ask you if the Directors of this company will sign these notes as individuals, because we are satisfied they would be good if they were to," and he said, no, that it would not be necessary, the Directors would not sign them.
Q. Did you have any further conversation on the sub