New-York tribune., 1918-12-18

! tilDuLcu u penny. HIu iibVtf utJBuuEu
! or knew Of their meetings, which were,
! however, apparently not only for n
proper but for Il highly laudable and
rublic-sprited purpose, and which |
would doubtless have encouraged IL |
had been asked to do so.
Meantime, as heretofore stated, as
ovidencing my pro German proclvi-
ties it is costing me at the rate of
over. $4,000 n year for rent and ad-
vertising toward supplying milk to
French babies. That venture has been
still in possession OF my house, at 675
Fifth Avenue, free of rent and actively
at work.
His Letter to DIR. Albert
q As to my letter of February 10,
o' 1915, to Or. Albert: The incl
dent referred to in that letter was SO
Heeting and uns substantial that it bad
entirely escaped my recollection when
was first asked about it. / did not
even ut the moment recall whether my
talk had been with Bernstortf or AL
bert. Since the subject has been agi-
Gated | have given it much thought, and
it now all comes back to my mind.
Nothing was ever done about the thing
The nebu'ous business proposition,
which ] discussed with Or. A bert, Of
his investing money in an American
owned and controlled newspaper ap-
parently did not appeal to him. for
heard nothing further from him beyond
q note saying he was communicating
with his friends
"The negotiation, if it can be dig
nifed by that name, was conducted
by one of my friends, a we'll
known and experienced newspaper
man. This was before mentioned the
subject to DR.. Albert or had any
thought that he might be interested,
and was for our joint account. I never
came in contact with the proposed
venders; it never reached that stage.
The talk about this evening and morn
ing paper being in the market had
been common gossip for q long time,
and we were anxious to acquire it on
proper terms. | had discussed it in
1913 before the European war with the
same FRIEND at time when he was
considered the purchase of The
Evening POST that was then supposed
to be for sale. We have been and are
still in negotiation for another paper
on his behalf
"on learning that the paper referred
to in my letter to Dr. Albert mipht
POSSIBLY be had | suggested to him as
It now appears, not ma ority. as has
been claimed, but a minority interest:
that is 4/6 interest, from which we
v ere to reserve an interest of Il in
the paper, which would leave him and
his friends SIP and would leave 7/12
tc the American interests, including
the 1l3 that the former owners were
70 retain. Iven that was conditioned
on our RECEIVING an option to buy back
sufficient of the 5/12 thus sold to give
us, together with our d, q clear ma
!
Us held by the former owners, on
basis of DR.. Albert and his friends, of
course, receiving profit on the
cptioneu stock, the amount of which
would have to be the subject of future
discussion if it were found that he
was interested and if tie paper could
be had on proper terms, neither of
which situations ever matcrialized. The
idea of a minority interest in the
paper, with the right to us to buy back
the bulk of that interest, even at
profit, evidently did not appeal to DR..
Albert and his fricnJs, as | heard no
more from him.
Albert Did Not Reply
Cup to the time let for South
America this incipient inquiry had not,
and, in fact, It never did, reacn the
stage of serious negotiation. The
way / happened to learn that DR.. Al
bert might - interested in the effort
that was then ,under way by myself
and my friend to acquire paper was
purely accidental
II to d Dr. Albert in substance that
my friend was one of the most ex-
perienced and, in my judgment. one of
the abiest newspaper men in the coun-
try and ad been an upSuilder OF prop
critics - that character and that he
and be leved the property had tre-
mendous possibilities IN the way Of
profits.
Or Albert expressed desire to
have the opportunity Of interesting his
friends on q purely business basis, and
| tod hlm that if anything was started
would let him know, which did by
the letter Of February l9, 1916, from
Florida. He seemed entirely familiar
with the law, that if he became in
terested his interest would have to be
ful y disclosed. 1t may be that that
circumstance also had something to do
with his declining to participate, al
though he did not so state.
The phrase in my letter of Febru-
ary 10, 1918, written from Miami, Fla.
My friends would be willing to
take one-fourth interest provided
some arrangement could be made
giving lncm inc option TO acquire
the majority interest, say after the
lapse of one or two years from the
close of the war, which would af-
ford every opportunity that could
possibly be wanted
has been torn from it's context and an
Interpretation put upon the clause that
Will not bear analysis, although the
whole matter is in itself of no signifi-
cahce. 1t is now sought to comfort the
phrase into an invitation to DR.. Albert
to use the paper in which we were to
put $75O,000 of our money for one
quarter interest and in which he was
invited to acquire only Il minority in
tefest to promote German propaganda
although there is nowhere q suggestion
that there was to be any secrecy about
the transaction and there could not
have been any minority interest to
promote German propaganda although
without violating the law
~ am sure that Il moments thought
Will convince you that this is, however,
an impossible construction and that it
could not have meant anything of the
sort. 1t was intended to persuade him
that the requirement that we be given
an option on sufficient of his five