JSK_BE2_F24 41 |
Previous | 41 of 68 | Next |
|
THE MIAMI HERALD Miami, Florida* At Pittsfield, Mass*, August 23, 1937* Mr* C* Blake McDowell, e/o ®rouse, Englebeck, McDowell, May & Bieree, 2200 First Central Tower, Akron, Ohio* Dear Mr* MoDowell: Your nice letter of the 20th instant, enclosing draft of our proposed agreement is received* Your felicitations are reciprocated by Mrs* Shutts and the other members of my family* May I make the foil wring suggestions in regard to the agree¬ ment? Faragmph (o) on Page 2 must be modified in several particu¬ lars before I can state that Schedule A attached is a true and correct Balance Sheet as of July 31, 1937* This Balance Sheet was prepared for my own use and for comparative purposes only, and not in contemplation of its being made a part of the contract* When Mr* Davis asked me for a copy of it when he was first in Pittsfield, I did not understand the sale was to be based upon this report* For the purposes of the contract, it should have been set up in the form of the Montgomery audit report shown in our Prospectus as of March 31, 1937* There should be some provision in the contract that all of the amounts due from the Miami Housing Company and the Herald Holding Company will be charged off prior to the closing date as worthless and uncollectible debts; that the purchaser will treat those accounts in the same way in the future, and that they will not become a charge against the Housing Company* Or the Holding Company* Also provision should be made for the transfer to me of the shares of stock owned by the Publishing Company in the Holding Company* On the liability side of the Balance Sheet, as shown by said Schedule A, the amount of |23,000, due for bond expense, should be included; also, declared an<^/or accrued dividends on the Preferred Stock up to October 1st* I recognize the fact tlmt your Pro Forma Balance Sheet (Schedule J) as of October 10, 1937, does not include these assets as due from the Miami Housing Company and the Herald Holding Company, and does make reference to the $23,000 bond expense* We are agreed on these items, but I do not wish to certify to the correctness of the said Schedule A without having some reference made to these matters therein* Page 4, last part of Paragraph 8 should be amended to except the installments due September 15th and December 15th on federal income taxes for the year 1936, amounting to $8,160*45, as shown by Schedule A*
Object Description
Title | Miami Herald 1939 (JSK_BE2_F24) |
Creator | John S. Knight |
Date Notes | 1928-1939 |
Description | Correspondence regarding the purchase of the Miami Herald |
Link to Finding Aid Repository | http://ead.ohiolink.edu/xtf-ead/view?docId=ead/OhAkUAS0008.xml;query=;brand=default |
Subject Terms | Miami Herald |
Type | Text |
Digital Publisher | University of Akron. Archival Services |
Date Digitized | 2015-06 |
Copyright Statement | This image is protected by copyright law of the United States (Title 17, United States Code). Copyright to this image lies with The University of Akron which makes it available for personal use for private study, scholarship, or research. Any other use of this image including publications, exhibitions, or productions is prohibited without written permission of The University of Akron Archival Services. Please contact Archival Services at archives@uakron.edu for more information. |
Source Collection | John S. Knight Papers |
Identifier | JSK_BE2_F24.pdf |
Medium | Document |
Format-Extent | 68 pages |
Collection Category |
Communications Individual/Families |
UA College | University Libraries |
UA Department | Archival Services |
Website | http://www.uakron.edu/libraries/archives/ |
Contact Information | Telephone: 330-972-7670; Fax: 330-972-6170; E-mail:archives@uakron.edu |
Description
Title | JSK_BE2_F24 41 |
Type | Text |
Source Collection | John S. Knight Papers |
Medium | Document |
Collection Category |
Communications Individual/Families |
UA College | University Libraries |
UA Department | Archival Services |
Website | http://www.uakron.edu/libraries/archives/ |
Contact Information | Telephone: 330-972-7670; Fax: 330-972-6170; E-mail:archives@uakron.edu |
transcript | THE MIAMI HERALD Miami, Florida* At Pittsfield, Mass*, August 23, 1937* Mr* C* Blake McDowell, e/o ®rouse, Englebeck, McDowell, May & Bieree, 2200 First Central Tower, Akron, Ohio* Dear Mr* MoDowell: Your nice letter of the 20th instant, enclosing draft of our proposed agreement is received* Your felicitations are reciprocated by Mrs* Shutts and the other members of my family* May I make the foil wring suggestions in regard to the agree¬ ment? Faragmph (o) on Page 2 must be modified in several particu¬ lars before I can state that Schedule A attached is a true and correct Balance Sheet as of July 31, 1937* This Balance Sheet was prepared for my own use and for comparative purposes only, and not in contemplation of its being made a part of the contract* When Mr* Davis asked me for a copy of it when he was first in Pittsfield, I did not understand the sale was to be based upon this report* For the purposes of the contract, it should have been set up in the form of the Montgomery audit report shown in our Prospectus as of March 31, 1937* There should be some provision in the contract that all of the amounts due from the Miami Housing Company and the Herald Holding Company will be charged off prior to the closing date as worthless and uncollectible debts; that the purchaser will treat those accounts in the same way in the future, and that they will not become a charge against the Housing Company* Or the Holding Company* Also provision should be made for the transfer to me of the shares of stock owned by the Publishing Company in the Holding Company* On the liability side of the Balance Sheet, as shown by said Schedule A, the amount of |23,000, due for bond expense, should be included; also, declared an<^/or accrued dividends on the Preferred Stock up to October 1st* I recognize the fact tlmt your Pro Forma Balance Sheet (Schedule J) as of October 10, 1937, does not include these assets as due from the Miami Housing Company and the Herald Holding Company, and does make reference to the $23,000 bond expense* We are agreed on these items, but I do not wish to certify to the correctness of the said Schedule A without having some reference made to these matters therein* Page 4, last part of Paragraph 8 should be amended to except the installments due September 15th and December 15th on federal income taxes for the year 1936, amounting to $8,160*45, as shown by Schedule A* |