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)

Page scan 000301 from 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

Record Details:

Title:
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
Date:
1913
Publisher:
New York, Appeal Printing Co.
Volume:
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 : record volume 1
Leaf #:
000301
Language:
English
Collection:
Government & Law and Early Cinema
Format:
Periodicals
Contributor:
The Museum of Modern Art Library, New York
Sponsor:
Media History Digital Library
Coordinator:
Media History Digital Library
Description:
These seven volumes contain the testimonies and supporting documents from the U.S. District Court's antitrust lawsuit against the Motion Picture Patents Company (MPPC). Formed in 1908, the MPPC (sometimes referred to asœ"the Edison Trust" or just "the Trust") sought to control the American film industry through pooling patents and demanding that producers and exhibitors acquire licenses to those patents. Independent producers and exhibitors, who refused to license the patents, argued that the MPPC was an unlawful monopoly. In 1912 and 1913, the U.S. District Court for the Eastern District of Pennsylvania heard testimonies from both MPPC members, such as Siegmund Lubin, and "Independents" who later became Hollywood moguls, such as William Fox. Ultimately, in 1915, the case reached the U.S. Supreme Court, which found the MPPC in violation of the Sherman Antitrust Act and spelled the end for the already weakening MPPC. -- Eric Hoyt, 2012
Date Added:
September 12, 2024
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Minutes, General Film Co. 279 Cash to be paid in installments Interest 7% Stock $1,000,300.00 $100,853.00 $04ii,200.00 Original Estimate of value of exchanges not bought but still licensed 351,300.00 140,100.00 $1,951,000.00 $100,853.00 $780,300.00 Approximate average annual charges at present, Jan. 14, 1911. Installments on a/c exchanges bought $318,500.00 Average Annual Interest 23,400.00 7% Dividend on $040,200.00 preferred stock 45,234.00 $387,134.00 In view of the obligations of the company (actual and probable) as summarized in the foregoing report, Mr. Kennedy suggested the advisability of reducing the authorized issue of common and preferred stock and after discussion, it was on the affirmative vote of all Directors present Resolved, that the Board of Directors recommend to the stockholders of the company that the total authorized issue of capital stock be reduced to one million dollars ($1,000,000.00) divided into ten thousand shares, each of the par value of one hundred dollars ($100.00), eight thousand (8,000) shares to be preferred stock and two thousand (2,000) shares to be common stock. Mr. Kennedy called attention to the change in the purchase contract with P. L. Waters for his New York Exchange making the date of transfer October 3, 1910, instead of June 0, 1910, and on motion unanimously adopted, this action was approved and ratified. The Treasurer called attention to the inconvenience caused by maintaining the special deposit with the Farmers Loan & Trust Company and on the affirmative vote of all Directors present it was Resolved, that the Treasurer be and hereby is authorized to close the special deposit account with the Farmers Loan & Trust Company at his discretion.