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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Jeremiah J. Kennedy, Direct Examination. 3183 J. KENNEDY, to me known, who, being by me duly sworn, did depose and say, that he resided in the Borough of Brooklyn, City of Xew York, State of New York; that he is the President of the GENERAL FILM COMPANY, one of the corporations described in, and which executed the above instrument; that he knew the seal of said corporation; that the seal affixed to said instrument was said corporate seal; that it was so affixed by order of the Board of Directors of the said corporation, and that he signed his name thereto by like order. Clinton D. Ganse, [Seal.] Notary Public, Kings County. Certificate filed in New York County. By Mr. Kingsley : Q. Acton R. Boone, who was a witness in this proceeding, testified at pages 1213-1214, Vol. II of the record, after reciting the fact of the sale of the motion pictures, stock and equipment of the Theatre Film Supply Company of Birmingham, that none of the stock had been given him. Have you any explanation to make of that statement of Mr. Boone's? A. Yes. The stock was held as collateral — as part of collateral — also for $3,000 which was advanced him, subject to the condition that the stock should be held and all dividends accruing upon it, and all instalments Incoming due under the contract, should be applied to the payment of the indebtedness of $3,000, and when that indebtedness was extinguished or paid, he was to receive his stock. At the same time, he was informed that when the stock was ready for delivery, he might pay whatever balance of his indebtedness remained unpaid and receive his stock at any time. lie never offered, during my connection with the company, to make any payments on account of the money advanced. I have a copy of a letter, I think, in which that is set forth. I am not sure. Q. Will you kindly produce it? Is this a correct copy of a letter which you sent to Acton R. Boone, March 21st, 1912? A. It is. Q. Did you dictate the original of the letter of which this is a copy? A. I did, and signed it. Q. Was this letter sent in response to a telegram which