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 (1914)

Record Details:

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2004 James B. Clark, Cross Examination. Mr. Kingsley : Objected to as incompetent, immaterial and irrelevant; as remote, speculative, and conjectural; as calling for a conclusion, and beyond the competency of the witness. The Witness : I would say they would, yes, sir. Q. Did that fact have any influence upon you in making you willing to sell out? Mr. Kingsley: Objected to as incompetent, immaterial and irrelevant The Witness: Well, I cannot say that it did. They had not opened any at that time, and had not threatened to open any, and we thought the best thing to do was to sell. We had a reasonable price for the place, and in fact, never gave that much consideration. By Mr. Grosvenoe : Q. But it was one of the circumstances that was in your mind, or one of the elements that you considered? A. Sure. Yes, sir. Q. You testified on direct examination respecting the negotiations with Kennedy, that you objected for a while to the terms of the payments? A. Yes, sir. Q. WThat were those terms? A. The cash end of the deal was to be divided into twenty payments. Q. Extending over a period of five years? A. Yes. Q. And payments of lump sums without interest? A. No, sir; with interest, Q. Well, was that term of the sale modified because of your objection? A. No, sir. Q. So you finally accepted the original proposition? A. Yes, sir. Q. As I understand your direct examination, at the time you took out a license as a rental exchange from the Patents Company, you understood that the conditions of the license agreements were to be lived up to? A. Yes, sir. Q. And that was impressed upon you? A. Yes, sir. Q. How did you happen to sell out to Kennedy? How did the matter come up? A. Mr. Waters telephoned me from New York that Mr. Kennedy wanted to see me to