In the District Court of the United States, for the Eastern District of Pennsylvania, the United States of America, petitioner, vs. Motion Picture Patents Company, et al., defendants (1913)

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William Pelzeb, Direct Examination. 261 is hereby authorized and empowered to arrange for the opening of bank accounts in all cities where branches are established, and as many bank accounts in each city and for each branch as the committee may deem necessary, and to direct how deposits and withdrawals shall be made." It was the intention on that date and at the time of that meeting to open branches in a large number of cities in the United States? A. Evidently. Q. You so understood it to be the intention of the Board of Directors at that meeting at that day? A. Judging from that resolution, but personally I had no knowledge of the situation and nothing to say in the affairs. Q. And did you gather the same intention from the discussion that went on in your presence? A. Yes, sir. Q. The intention was to enter very extensively in the rental and exchange business? A. I don't know what the intentions of the interested parties were, Mr. Grosvenor. Q. You understood that was what the plan was? Mr. Caldwell: I object to that as irrelevant, incompetent and immaterial. A. I understood generally the plan was to go into the exchange business. Q. And to go into it pretty extensively? Mr. Caldwell : I object to that on the same grounds as last stated. A. I suppose they expected to do that. Q. The minutes for the same day read : "The question of entering into contracts with film and projecting machine manufacturers was discussed, and on motion, duly seconded, it was voted to authorize the officers to enter into and execute such contracts as may be necessary for the proper conduct of the company's business. On motion, duly seconded, the meeting adjourned. Attest Win. Pelzer, Secretary."