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:

Title:
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
Date:
1914
Publisher:
New York, Appeal Printing Co.
Volume:
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 : record volume 6
Leaf #:
000149
Language:
English
Collection:
Government & Law and Early Cinema
Format:
Periodicals
Contributor:
The Museum of Modern Art Library, New York
Sponsor:
Media History Digital Library
Coordinator:
Media History Digital Library
Description:
These seven volumes contain the testimonies and supporting documents from the U.S. District Court's antitrust lawsuit against the Motion Picture Patents Company (MPPC). Formed in 1908, the MPPC (sometimes referred to asœ"the Edison Trust" or just "the Trust") sought to control the American film industry through pooling patents and demanding that producers and exhibitors acquire licenses to those patents. Independent producers and exhibitors, who refused to license the patents, argued that the MPPC was an unlawful monopoly. In 1912 and 1913, the U.S. District Court for the Eastern District of Pennsylvania heard testimonies from both MPPC members, such as Siegmund Lubin, and "Independents" who later became Hollywood moguls, such as William Fox. Ultimately, in 1915, the case reached the U.S. Supreme Court, which found the MPPC in violation of the Sherman Antitrust Act and spelled the end for the already weakening MPPC. -- Eric Hoyt, 2012
Date Added:
September 12, 2024
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Defendants' Exhibit No. 105. 3181 The "actual cost" of new merchandise which the party of the second part herein agrees to pay to the party of the first part, includes only the cost of transportation by freight or express, in addition to the manufacturer's or jobber's net prices after deducting all discounts, rebates and allowances. d. In further consideration, the party of the second part agrees to issue or cause to be issued to and in the name of the party of the first part, SIX THOUSAND (6,000.) DOLLARS par value, of seven (7) per cent, preferred capital stock of the party of the second part, consisting of SIXTY (60) SHARES, each of a par value of one hundred dollars; that the certificates of said stock shall be dated the tenth day of September, 1910, and that dividends on said stock begin to accrue on that day. Said preferred stock has a preference to the extent of seven (7) per cent, of its par value, in the net earnings of the party of the second part in each calendar year; if the net earnings in any calendar year should be less than the amount required to pay a dividend of seven (7) per cent, upon said preferred stock, the deficiency shall be paid from net earnings in the succeeding calendar year or years; and In the final distribution of the assets of the party of the second part, the holders of said preferred stock must be paid its par value and all accrued dividends before the holders of the common stock of the party of the second part receive any part of the assets. Said preferred stock does not entitle the holders thereof to vote at meetings of the holders of the capital stock of the party of the second part. SEVENTEENTH: The party of the first part agrees to receive from the party of the second part, in full payment for the right, title and interest aforesaid in the property aforesaid, the sums of money and other considerations which the party of the second part hereinbefore agrees to pay and deliver to the party of the first part, under the terms and conditions specified in the sixteenth clause hereof. IN WITNESS WHEREOF, the said parties hereto have caused this agreement to be executed by their respective