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702 Louis Rosenbluh, Cross Examination.
Q. Now, in that agreement was there not also a stipulation to the effect that you could not rent or loan films to other rental exchanges? A. Yes, I believe there was something to that effect.
Q. Yes; and that agreement was still in effect on the 7th of January, 1909, was it not, at the time you went into the Patents Company? A. Yes, sir.
Q. And was there not also a clause in that agreement to the effect that exhibitors were not allowed to transfer reels from one to the other? A. In which agreement was that?
Q. In the Edison license agreement, to which your company was a party? A. I believe there was such a clause.
Q. Now, at the time that The Greater New York Film Rental Company made a contract with the Patents Company, how many reels of film did you have on hand? A. I should judge, about 3,000 reels.
Q. And from whom had you secured those reels? A. From various manufacturers.
Q. How long had you been dealing with the Edison licensees at that time? A. About nine months.
Q. So of these 3,000 reels of film that you had on hand you had secured a part from the Edison licensees during the nine months preceding? A. Yes.
Q. Now, what was the value of these films? A. The purchase value?
Q. No ; I am asking you what was the value of them ; you have answered in your direct examination that it was $300,000. A. The purchase value.
Q. Was that the value of the film? A. The purchase value.
Q. That was the purchase value? A. Yes.
Q. And some of these films were nearly two years old, were they not? A. They may have been even older than that.
Q. What was the real value of them? A. I should judge about $100,000.
Q. So that when you stated on your direct examination that the value of these reels was $300,000, you knew as a matter of fact that the value of them, even according to your own judgment, was not more than $100,000? A. Whatever answer I made was an answer that I thought would answer the question.