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Le It is obwious from the above that the rapid aown-trend of this company started whan the steck of this corporation was re-purchased from Vanguard Piles by this company with $2,000,000 of ths capitel ef this company. “his purchase dimieished the working espital of the company to a point where the banks becaze es) concerned ebout/ the comsany's future and the banks started to slow down on making ' product loans to producers for release through Umited Artists. This was further accentuated by the losses that. cecurred in the years 1948, 1949 and 1950.
“at Om Yecember 19th the President and Ur. Scollard met with Mies Plekford
te apprise her of ‘the precarious position of the company's affairs as is indicated — ee by tha aftached mescrandum-ceatec-iecember ivth cowsring that @iseuasion, and also as is further indicated by the attached letter dated Decomber 2ist, addressed to the Chairmsan of the Board. ‘
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The solution to the problem is very simple. The coupany mum of $2,000,000 risk capital at once. If this is wut in i fo relesse six or eight sictures that are completed, and will induce Danks to lend first money on other ptetures to bs produced. ‘This will enable management
anye ;
i e If the required working capital is supplied there is every reason to feel that, under competent management, United Artiste can aequite sufficient quality production for rolease to enable this eonpany to operate efficiently.
If the required working capital is not supplied this coxupany, a8 presently constituted, has no future and its collapse is izcinent and inevitable.
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