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James B. Clark, Redirect Examination. 2605
talk over the selling of our exchanges, and Mr. Rowland and I made an engagement for a certain day and a certain time, and we went down.
Q. The matter was first broached, then, by the General Film Company? A. Yes, sir.
Q. And when you went down from New York, what did you do? A. We went to the office of the General Film Com pany at 10 Fifth Avenue, and met Mr. Kennedy.
Q. What did he say? A. Well, I cannot remember exactly what he said. He wanted to know if we were ready to talk sale, and we told him we were, and he outlined the price and the terms, and so on, and we asked him for a little time to consider it. We thought it over that night, and accepted it the next day.
Q. And the proposition was accepted by you as made to you by him? A. Yes.
Q. You say you today own five licensed theatres? A. Yes, sir. That is, I don't own them outright. I am interested in those theatres.
Q. Please give the location and size of these five theatres? A. The Oakland Theatre in Pittsburgh is 300 seats. The Cameraphone Theatre in Belleview is 600 seats. The Cameraphone Theatre on 5th Avenue in Pittsburgh is approximately 400 seats. The Arsenal Theatre on Butler Street, 724 seats. That theatre uses licensed service, but also uses independent features in connection with it. The other theatre is the Family Theatre in Braddock, Pa. About 700 seats.
Q. The General Film Company today owes you for the sale of your business, that is, some of these payments running over five years, have not yet been made? A. No, sir, they have not.
Q. And do you hold the notes of the General Film Company in those amounts? A. No, there is a sort of contract.
Q. Are you the holder of any of the preferred stock of the General Film Company? A. Yes, sir.
Redirect examination by Mr. Kixgsley:
Q. You say, Mr. Clark, that some of the payments owing you by the General Film Company have not yet been made? A. Yes, sir.