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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Warren R. Palmer, Redirect Examination. 2949 Redirect examination by Mr. Caldwell: Q. Now, Mr. Palmer, referring to these deferred payments, have they been made promptly as they became due? A. Always. Q. There is no payment that is overdue at the present time? A. None. Q. Are you still interested in those deferred payments, or have you sold out your interest? A. No, I have an equity. Q. The dividends on the preferred stock, have they been met promptly and paid? A. Yes, always. Q. Well, you may state whether that business was profitable or unprofitable up to 1909. A. It was profitable. Q. During the year 1909, until you became a licensed exchange, was your business growing? Were the profits continually growing up to that time? A. No. Mr. Grosvenor : I object to that as leading. Recross examination by Mr. Grosvenor: Q. Whom did you see when you came down to New York on June 20th? A. I believe, Mr. Kennedy and Mr. Waters. I also remember Mr. Marvin was there. Q. That is in connection with the sale of your property? A. Yes. Q. And did those three gentlemen all discuss with you the question of making the sale? A. No, I believe only Mr. Kennedy and Mr. Waters. Q. Was Mr. Marvin present at the time? A. To the best of my recollection he was. Q. What was said to you? What did you say on the subject of selling your property? A. They asked us if we are ready to sell our exchange. WTe replied we were. They made us the offer, and we asked a few minutes to think it over. We came back and told them we wanted a thousand dollars more. They said the price that they had already offered us was the limit, and so we accepted. Q. What is the name of this man Blumenstiel? What is