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280 William Pelzer, Direct Examination.
Mr. Kennedy called attention to a promise made to Mr. Howard that this company would reimburse him for expenses incurred in looking after the interests of exhibitors in the State of Massachusetts and on motion, unanimously adopted, the Treasurer was authorized to pay Mr. Howard the sum of flOO.OO Attest,
Wm. Pelzer, Secretary.
President
By Mr. Grosvenor:
Q. Mr. Pelzer, these minutes contain these words — there is a summary of what has been spent — then these words : "Original estimate of value of exchanges not bought but still licensed $351,300." Now, what was that original estimate of value of exchanges? A. I don't know anything about it.
Q. Do you know when it was made? A. No, sir.
Q. Did you ever see it? A. I don't think I did.
Q. You wrote these minutes, didn't you? A. Yes.
Q. You understood that such original estimate of the value of different exchanges had been made? A. No tiling more than contained in the memorandum of the figures that were handed me at the time.
Q. Will you look up the records of your company and produce on Tuesday that original estimate of the value of exchanges referred to in these minutes? A. I will try to.
Q. Or a copy of it? A. Yes.
Q. Or explain where it is? A. Yes.
Q. There are definite references to the different figures here throughout these minutes, so that it is apparent that there are original estimates giving separate values of the different exchanges, and if you have any doubt as to what is called for by me please take these minutes with you, the Examiner will be through with them to-day, and look through the record and read your testimony of to-day? A. Yes.
Q. The last meeting with respect to which I have been asking you questions was at SO Fifth Avenue. You do remember of meetings in the years 1910 and 1911, at the offices