The sun. [volume] (New York [N.Y.]) 1916-1920, 1918-09-20

What follows was given out by AFR.
Carvan:
Statement of c. w. Feigenspan cover
ing deposit account at the Federal Trust
Company, 740 Broad street. Newark,
such deposit account standing in the
name Of &C. w. Feigenspan, trustee"
NEWARK, N. j., July 80, 1913.
During the month Of June 1917. to
the best of my recollection, the matter
OF the Washington Times became Of
mutual interest to Mr.. Arthur Brisbane
and a number Of brewers Mr.. Bris-
bane, as I have been informed by him,
had an option to purchase the Washing
ton Times from Mr.. Frank A. Munsey
for sum which recall as being $780,
900. The terms OF the sale, as recall
them, were that $3.50, 900 was to be paid
down. the balance to be paid in install
ments OF $4,000 each every six months.
Advancing OF Money.
TN order to bring about the purchase
OF the Washington Times ! at various
times advanced Mr.. Brisbane funds
through the Growing Circulation Cor
poration, a corporation which ] believe
Is either owned or controlled by Mr..
Brisbane. The aforesaid funds were ad-
vanced on the dates and in the amounts
as hereinafter specified and in the FOL
lowing manner: first drew a check or
checks on the account at the Federal
Trust Company which stood in my name
as trustee, such check or checks being
payable to the order of the Federal
Trust Company. and the Federal Trust
Company then would IN turn deliver to
me treasurer's check Of the Federal
Trust Company payable to bearer. which
treasurer's check 1 in turn delivered to
Mr.. Brisbane personally.
The amounts so advanced to Mr..
brisbane and the dates thereof are as
follows:
June 81, 1917, $4,000: June 90.
1917. $235.0o0: June 20. 1917, $4,000;
August g.. 1917. $4,000; November rs,
1917. $4,000; total. $4,000.
"A statement OF the relations which
existed ieHoonnection with this transac-
ton are more particularly set forth In
letter which i wrote to Mr.. Brisbane
(Which Brisbane himself wrote for Feig-
enspan TO copy dated June 80. 1917,
which reads as follows:
1 write this note to define a BUSH
ness arrangement existing between us. I
and number OF my friends, all of
whom am authorized to represent. have
for years felt very strongly. that the
public welfare and your own industry
because Of your well known convictions
would be benefited by your personal
ownership OF a newspaper.
I'VE agree to supply you with a capt.
tai of $4,000 for the purchase and
establishment of newspaper by you.
We have at this time supplied 1926, 900
and we shall as soon as possible sup
ply the balance--namely. $205.0 900. al
though ! do not enter into any legal
obligations to do so on behalf Of myself
or others. The understanding OF myself
and my friends with you. OF which I'M
Outstanding this is a memorandum. Is
as follows:
The money which we gladly contrib
ute to your enterprise, Is to be disposed
of absolutely at your discretion, main
tenance and establishment OF daily
newspaper 1t is understood that after
a period Of Ave years you will repay to
me and my associates at your discre-
ton and convenience, SO much of the
profits as may be derived from such
newspaper as may. in your judgment.
be taken out Of the business without
interfering with its proper operation
and development: and that you shall be
under no liability whatsoever for the
payment of the sum contributed other
than out of such profits. 1t IL under
stood that no interest shall be paid upon
this money. our claim to be satisfied in
full upon the repayment Of the principal
without interest.
Terms OF Repayment.
"'You may. of course, repay part or all
OF the principal at any time and in any
manner that you choose. and our agree
ment with you shall not be considered as
giving me or my associates any interest
whatsoever in said enterprise. Should
you sell the paper at any time, you will
repay to US. up to the full amount Of the
principal that We may have had ad-
vanced. any sums received by you in
payment for the paper
THE amounts contributed to the fund
and out of which l made the advances
to Mr. Brisbane and the names Of the
contributors to such funds are more
particularly set forth in a letter dated
April /, 1918, which / wrote to Mr..
Robert Grain at Washington. D. c., to
which last mentioned letter reference is
hereby made. The only reference Of the
foregoing Indebtedness which hold Is a
note of the Growing Circulation Cor
poration. dated June 81. 1917. for $780,
| 900, upon which there was advanced the
sum Of s275.o00 only. and a memoran-
dunn dated at Newark. N. J., on June 81,
| 1917. signed by Mr.. Arthur Brisbane
Up to the present date / have received
|
| Indebtedness.
"(Signed) c. w. FEIcENsPAN."
Attached to Mr.. Feignespan's state
ment is the following. which is signed by
George Ehret. Jr.:
NEW YORK, July 81, 1918.
| II have read the foregoing statement
and know the contents thereof and verify
believe the same to be true"
Statement of Contributions.
The letter referred to by Feigenspan
to Robert Grain. who Is the national
counsel OF the Brewers Association and
has an office at Washington, follows:
my DEAR BOB:
"All told / have received the following
amounts from the following gentlemen
George Ehret, $4,000: c. Feigen-
span, $4,000; julius Lehman, SIS, 900
J. c. G. Hupfel. $500: Jacob Rupert.
$4,000: Joseph E. Uihlein. $4,000 Ed
ward Lansberg. $4,000; Reuter- & Co,
$4,000; A. j. Houghton Company, &c.
600: William Hamm, $4,000 G. Pabst
$4,000; Fred Miller Brewing Company
$4,000; c. Schmidt & Sons, 5000; y
A. Poth Sons $4,000: United States
Brewers Association, 100000 Bergner
e. Engel, $4,000; United States Brewers
Association. advertising. $25.000. Total
$407.500. Total advanced TO the Grow.
ing Circulation Company. $375. 900
Difference, cash on hand. including
$4,000 advanced by the advertising
fund, $4,000.
Il hold memorandum in the shape
Of a note given me by the Growing Cir.
culation Corporation. which is enclosed
THE difference of $4,000, which you
will note between the two items, is q
| ms n xpb 7