This psychic reading given by Edgar Cayce at his office, 115 West 35th Street, Virginia Beach, Va., this 12th day of August, 1929, in accordance with request made by self - Mr. [257].
P R E S E N T
Edgar Cayce; Mrs. Cayce, Conductor; Gladys Davis, Steno. Mr. [257] and L. B. Cayce.
R E A D I N G
Time of Reading 206 Lexington Ave., 3:20 P. M. Eastern Standard Time. New York City. (Body and enquiring mind - questions)
1. EC: We have the body, the enquiring mind, [257]. This we have had before, also those conditions, circumstances, as surround the body's interests in sale or purchase of Paris Medicine Company, and other conditions. Many of these we have had before. Ready for questions.
2. (Q) Edwin Grove had stated he will not take less than 23 million dollars cash. Is this a price that can be met and will be met by contacted parties? (A) It will sell for less than this.
3. (Q) What advice should E. W. Grove receive to guide him for the proper sale of the company? (A) We have [257], rather than E. W. Grove. Only [257]'s relations with Grove.
4. (Q) Has [257] presented the proposition properly to MacRoberts as he was told to do? (A) It's very good.
5. (Q) What is the next move with MacRoberts? (A) Follow out those suggestions and those leads through which MacRoberts would guide the body!
6. (Q) Will the Zonite Company pay 23 million for the company? (A) It will be sold for less than 23 million.
7. (Q) Should [257] place proposition in hands of MacRoberts to handle as a Bank deal or personal deal to E. H. Hutton for [257]? (A) Not wholly in the hands, but work rather WITH the body with the proposition, that it may be presented properly. Do not lose sight of that as has been given as regarding one's relations with this, and until there's the absolute refusal (which there hasn't totally been), hold to those channels to be returned again, or to assist in the financing of the sale.
8. (Q) Why has Wertheim failed to put deal over as reading said he would? (A) He hasn't failed wholly as yet! and, as has been given,
257-47 Page 2
when this is handled, we will find Wertheim must be back of the picture, or questioned, or furnishing portions of the wherewithal, or the contacting portions as connected with same.
9. (Q) Will Lande be able to sell the Company to Drug Inc? (A) Well, this is conflicting with the information as has been given, and in two or three directions! This might be able to be sold to Drug Inc., or to others - yet with the Drug Inc., it will require some time, from the interests that have already been acquired in connection with this - and with the expansions - which would run into some money - and would require some two to three years!
10. (Q) Should [257] approach Sterling Inc? (A) Very well to have them on a string, but work in a manner as to work one against the other in some respects - but too anxiousness will make much destructive forces!
11. (Q) Should offers be sent to Mr. Grove, or telephoned to him or should [257] go there again personally? (A) As has been given, before it is presented to him again it should be in some definite shape - then either have him in person in New York or go in person to see him.
12. (Q) Please state result of [257]'s visit to see Grove at Chester and comment as to manner of Grove and [257] as handling the plan for final sale. (A) This would be hard to designate, other than in that direction in which operations are being attenuated - that is, manner in which they are being handled. As is considered, there's been as much study on the part of Grove as concerning [257] and [257]'s interest, and what [257] would DO, as there has been on [257]'s part as to understand and as to how to reason with Grove concerning how this might be handled. It is now time for proposition to be presented. THEN may the two get closer together, or even work together in some other directions.
13. (Q) What advantage could be gained by [257] seeing Wertheim again? (A) Just as has been given, there will be none that will handle the proposition without considering Wertheim's first consideration of the deal and the why's and wherefore's of the attitude must be explained to those who would be interested in the deal! Then, why wouldn't it be well to see Wertheim and have some understanding as to what's the proposition or what's the condition, or the why's and wherefore's of that as has been in a manner promised?
14. (Q) Why is the price too high as asked by Mr. Grove? (A) For its more than that of the actuality in the ability of the operations to produce. For such propositions to be
257-47 Page 3
worth while to individual investors, they must show AT LEAST a PLAUSIBILITY of the amount expended being able to make 6, 7, 8, 10, 12, 14 percent on the moneys!
15. (Q) What plan or amount would appeal to E. H. Hutton of Postum Cereal Co. whose offices are in N.Y. on Park Ave? (A) From 18 to 20.
16. (Q) Has [257] erred in him manner of handling the deal, since it has not come out as the forces said? (A) People change their minds! and this has not been brought - we began this with a 12 to 15 million dollar - now it represents the 23 to 25 million. Then why! Would that be asked, WHY, when there has been that much change in the actuality of the thing!
17. (Q) Has [257] failed to advise Grove properly as to true value of Company based on figures given [257]? (A) No.
18. (Q) Will the reconstructed earnings of $1,810,000 check to satisfaction of the prospective purchaser? (A) Would check.
19. (Q) Is [257] correct in retaining lands thru whichever channel the deal is handled? (A) Very good. There has been information given concerning actions of the individual, and these have not changed, so far as regarding the individual's abilities and the manner in which he may be expected to handle it.
20. (Q) Why did Lauterstein feel resentful when [257] said he felt it better to see MacRoberts alone? (A) Jealousy!
21. (Q) Would it have been better had Lauterstein gone with [257]? (A) No.
22. (Q) What method of procedure should [257] use now to push the negotiation to the successful sale? (A) Work MacRoberts and his associations and personal associations against those of Lande with Hutton and those of that group.
23. (Q) [257] and Grove agreed on 4% as [257]'s commission from Grove. Is that the amount [257] is justly entitled to? (A) It's very good, and in keeping with such deals.
24. (Q) Is Grove making proper step when he handles this sale entirely through [257]? (A) Very good.
25. (Q) Has Grove justification to trust [257] implicitly for the best interests of Grove and his family? (A) He has!
26. (Q) Should Catchings of Goldman, Sachs be consulted on this deal? (A) Why?
257-47 Page 4
27. (Q) Will he jeopardize standing of proposition by having deal up with several firms at same time? (A) It is told that he must have it with two at one time! These two have been given. Handle it in that way and manner! As has been given concerning how the variations have come and the talk that has been made concerning it, this has NOT - as we have seen - altered the situation or condition as regarding those who hold the key to the situation, yet that has made much difference regarding those individuals who may now be interested directly in the handling of proposition - but are the two as have been outlined here - these may [257] work these through. We would operate them in that direction.
28. (Q) The bankers claim that after they work out deal, and Mr. Grove refuses to accept them, Mr. Grove will then make an independent deal for a lesser asking price? Is this true of Mr. Grove's character? (A) We do not find it so - though he will agree to take, if they will make a definite proposition, a lesser amount.
29. (Q) Should [257] advise with Ralph Jones again? (A) Very good.
30. (Q) Is it necessary to ask Irving Isaacs to assist at this time? (A) Rather have this through Lauterstein!
31. (Q) In reference to personal investments, should [257] buy stocks this week or sell what he has? (A) Depending upon which individual ones are referred to!
32. (Q) Int. Tel & Tel and Radio? (A) These, as we find, will be rather unsettled during the next week. Well to be not too long on either side.
33. (Q) How about Sears-Roebuck? (A) Whenever Sears-Roebuck is BELOW 49, it's always a buy - but be able to buy it outright and hold it.
34. (Q) Should Macy be purchased again before the 14th? (A) Macy, anywhere below 200 is a buy, or 202 or 204.
35. (Q) Should [257] take 20 thousand worth of stock in East Coast Investors Corp? (A) Very good. This remaining under the same prestige, or the same line or same direction, will prove a very great investment corporation.
36. (Q) Is it safe for [257] to keep all of his investments in that one organization? (A) As long as under those directions, yes.
37. (Q) Should [257] and Edgar Cayce proceed to build the house in Virginia Beach they have discussed? (A) If the arrangements can be made properly, very good. Be sure they are outlined properly for each one and each
257-47 Page 5
individual as to their association with same, and not MERELY hearsay or conversation.
38. (Q) Is [257] taking care of his physical self as advised, properly? (A) Very good at present.
39. (Q) What street is the most successful and healthy for [257] to live now in New York? (A) Near the same district in which he is living at present.
40. (Q) Should [257] push a settlement with Federal again this week? [Federal Furniture Factories] (A) Ever keep that pushing, but in the manner and in the channel and in the way as has been suggested and given for same to be done. Not as in an arbitrary way, but rather as in a way and manner that there are those proper relations, and a basis for proposition is necessary for continuation and for the activities as to be carried through in each and every direction.
41. (Q) Should [257] endeavor to sell the Carolina Wood Products Company this year? (A) It may be!
42. (Q) Is there any other advice [257] should have for the successful carrying out of his plans? (A) Keep those, as has been given. Work those plans, for these are well and good.
43. (Q) Is [257] leading the proper life to be entitled to the gifts from God? (A) Let thy spirit within thyself bear witness with the self as to whether ye ARE or not.
44. (Q) Is there anything [257] can do for the Cayce Hospital or Association at this time? that will please the Forces? [Work:E.C.] (A) Please self and those associated with same, would be the better way.
45. (Q) When is the best time for [257] to see MacRoberts again? (A) Dependent upon the latest conversation as had. There has been a time for an appointment. Keep it!
46. (Q) Is there any other advice the Forces - or instruction the Forces wish to give the body? (A) Follow those, as has been given. These are well and good, and will bring for the body and those associated - or those surrounding the conditions or connected with same - the best, when guided in the proper channels, and when self is made secure in those lines and those channels, and when self is conscious within self of having done just that. We are through for the present.
257-47 Page 6
Copy to Self " " Ass'n office " " Datastician