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3221 Jeremiah J. Kennedy, Cross Examination.
Lubin, Philadelphia. These two exchanges were opened on June 6th, 1910, that is to say, the exchange property connected with them was delivered to the General Film Company on that date. Howard Moving Picture Company, Boston, delivered its property on June 13th, 1910.
Q. Had that been contracted for prior to June 6th? A. Yes. The exchange property of George Kleine's Boston office was delivered on June 13th, 1910.
Q. Had that been contracted for before June 6th? A. Yes, all these had. George Kleine also made delivery of property in his New York office on June 6th, 1910. Those were all, with the exception that the price for George Kleine's exchange property in Denver was agreed upon, but he refused to deliver until a later date, after the experiment of the General Film Company had been tried out, and the same applies to the exchange property of George K. Spoor in Chicago. Mr. P. L. Waters informed the Board that he was willing to accept the price which had been discussed and agreed upon, but the date for delivery would have to be made later, and at a time acceptable to him, but that if he delivered, he would accept the price that was named.
Q. Referring again to the minutes for the meeting of October 11th, 1910, the balance of thirty-nine exchanges which the minutes state had been acquired on October 11th, 1910, were acquired by the company between June and October 11th, 1910? A. Yes.
Q. Why, in the minutes of October 11th, 1910, do you refer to the cost or estimate of acquiring all the exchanges in the entire country, if it was not your intention at that time to acquire them all? A. To show the rapidity with which we were called upon or requested to purchase exchange property, and to show the magnitude of our obligations in the event of the Board of Directors insisting upon the company's purchasing the properties of exchanges that were offered to us, so as to show no favoritism. T was opposed to the purchase of so much property so rapidly. To put the burden of responsibility entirely on the Board of Directors.
Q. Referring to the meetings of the Board of Directors of March 13th, 1911, being Petitioner's Exhibit 84, printed in the record, Volume 1, page 281 and following, that ex