[D0018AAE], Letter from Stephen Fossa Moriarty to William Croad Lovering, May 17th, 1900
https://edisondigital.rutgers.edu/document/D0018AAE
Transcription
New York, May 17, 1900. Hon. William C. Lovering, 1824 Massachusetts Avenue, Washington, D. C. Dear Mr. Lovering: I beg to confirm my conversation with you of to-day in which I stated to you that I have secured you fully to the extent of $15,000 in relationship to your ownership of a note of the Edison United Phonograph Company for $30,000, bearing 6% interest and due March 5, 1901, I have secured this by a deposit in the Chatham National Bank of New York City to the extent of $10,000, and I am forwarding you by tomorrow's mail an additional [notion?] that you are secured to the further extent of $5,000. This will secure you through a guarantee by any of your interest in that note of $15,000, and I hereby agree to protect you fully to that extent. The securities which are already deposited in the Guarantee Trust Company of New York City are more than adequate, to say the remaining balance of $15,000, so you may have no apprehension of any kind but that you are fully protected, and that is my intention as I assured in my convention with you to-day. I also have asked Mr. Searles to deliver you at once through Mr. Morrison fifteen hundred shares of the Stock of the International Graphophone Company to which you are entitled, and which he holds simply [as?] Trustee. I regret very much that you have had any regret or concern in this matter, as I could have arranged, had I known of your desire earlier, to have had your place taken by some one else, but it is now too late, [as I am] on the eve of my departure for Europe; but as I said before I have protected you in every way and with this additional assurance your interest will yield you a large profit, and before this time next year [you] will feel that you not only made a very good investment, but I feel you will be very grateful to me for the [privilege] extended. I wish you to, if you can, [illegible] interest in the affairs of the company [illegible] be successful and will yield large returns, and I will bend all my energies first, to the wiping out of these notes, and second, to the building up of a large business with a handsome profit for all of the [men] who own exclusively all the interests of every nature that there is in this business. Thanking you for your many courtesies extended to me during my visit here, and with kindest regards to your daughter, and trusting to see you soon on the other side, I remain, Yours faithfully, Stephen F Moriarty