The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-17

tween July I and December 1 OF the
present year.
Under the agreement the American OIL
and supply Company contracts to
transfer its purchase of the 1,212,o00
pounds Of phenol at the Hyden Chemical
Company's plant, Garfield, N. j., to
Schweitzer. The price to be paid is
one dollar and six and two-thirds cents
per pound for all deliveries this year
n one dollar per pound during the sub
sequent life Of the agreement, payment
to be made In cash oil each delivery.
The agreement further guarantees the
American Oil and Supply Company from
damages for the non-fulflment Of it's
terms. III such non-fulhlment Is caused
by fires, explosions, strikes, the act OF
God, exercise of governmental control. or
for any unforeseen contingencies beyond
the ~company's control. or that OF the
said Thomas A. Edison, not due to the
wilful breach on the part of either OF
Them
One hundred thousand dollars was to
be deposited with the Bankers Trust
Company In escrow to protect the
American oil and Supply Company and
a bond OF s25, 900 was 20 be executed
for the satisfactory performance OF the
contract. The American Oil and Sup
ply Company further agreed to transfer
to DR.. Schweitzer under the same terms
any additional quantities Of phenol that
1t might obtain from other sources. The
agreement was signed June 22. 1915,
by the American oil and Supply Com
pany, per William +. Hoffman, president
and general manager. and by Hugo
Schweitzer.
This receipt is also annexed to the
agreement
Received June 20. 1915. from Hugo
a1
$1,000 OO) dollars, in trust to be held
in rsuan OF the terms OF the
within contract as security for the
performance OF the same, and said
sum of one hundred thousand dollars
shall be returned by the vendor
american Oil and Supply Company
to the vendee Hugo Schweitzer)
when such contracts shall have been
performed. or in the event that said
vendor shall fail to perform the terms
of the within contract.
AMERICAN oil n SUPPLY CoMPANY,.
william +. Hoffman. President"
DR.. s%chweitzer's Activities.
DR.. Schweitzer is president Of the
Synthetic Patents Company and also
president of the Printers and Publishers
Association. organized recently for the
purpose of establishing a paper In this
city that would be honestly neutral"
He took part in the recent meeting in
Utica of the New York State Associa-
ton OF the German-American Alliance.
a letter from the American oil and
supply Company to DR.. Schweitzer fol-
lows:
JUNE 80, 1915.
Or. Hugo Schiceitscr. III Hudson street,
Netr York city:
DEAR DIR. SCH wEirzER This Is TO
confirm our understanding with you.
You nave entered into an agreement
bearing date June %. 1915. a cop of
which is attached hereto. You have
entered into this agreement on behalf
and for the account of the Imperial
German Government. and we hereby.
on behalf of said Government, uncon-
ditionally guarantee you against n
loss or damage whatsoever which may
accrue to you by reason of your maxi
ing such agreement.
You have agreed with us to pay
to us on behalf Of said Government
any and all profit which nay be re-
cetved by or which may aorrue TO
YOU by reason of said agreement on
the transactions relating thereto.
Aetna Co.'s Powder sales
Regarding the negotiations between
the Bridgeport Projectile Company and
the Aetna Powder Company, A. J. MoX-
ham, president OF the latter company,
at 2 Rector street, said yesterday that
he was certain that his company had not
sold one pound of powder to anybody
except the Allies. He said his statesmen
had rigid instructions to that effect.
II was admitted by &. II. Sallade.
chief sales agent of the in Mr..
Moxham's presence that the Aetna Pow
der Company had sold to Joseph Hoad-
ley and another officer of the Projectile
Company $500. 600 pounds of powder,
;1ut the understanding was that the pow
der was going to the Allies. Sallade
said that attention had been called to
the fact that Heynan. supposed to be a
German, was an officer of the projectile
company, but he had been assured that
Heynan was pro-English in his SYM
pathies.
II also was said at the Guaranty Trust
Company yesterday that while the trust
company had relations with the Deutsche
Bank prior to the war. business had
ceased when the war began because
there was practically no exchange bust
ness between this country and Germany.
II also was asserted that there was
nothing in the report that the Guaranty
Trust Company had acted as agent of
the Deutsche Bank. IN the negotiations
leading to the requirement by the Ger
mans of the control of the Bridgeport
Projectile Company.