This psychic reading given by Edgar Cayce at his office, 115 West 35th Street, Virginia Beach, Va., this 14th day of February, 1930, in accordance with request made by self - Mr. [257].
P R E S E N T
Edgar Cayce; Mrs. Cayce, Conductor; Gladys Davis, Steno.
R E A D I N G
Time of Reading 3:30 P. M. Eastern Standard Time. New York City. (Body and enquiring mind, Room 936, Drake Hotel, Chicago. Questions on all phases.)
1. EC: Ready for questions.
2. (Q) What was the impression of General Wood of Ben Lauterstein and [257], after conference today? (A) These conditions, as are in the making through this conference, are in the MAKING only. As to impressions of each, two of them know them - the other one they are seeking to know. Make the impression that acts! Don't seek to know that which should NOT be asked, but MAKE the impression!
3. (Q) Is the plan that Lauterstein and [257] are now working on the right one? (A) The BASIS FOR the right one! We do not see same being accepted WHOLLY as is outlined. To say that it is the right one would not be wholly correct! To say that it is the WRONG one would not be wholly correct! for OUT of same may come a satisfactory agreement.
4. (Q) What suggestions will the Forces give Lauterstein and [257] that will be helpful? (A) Just be as honest to the other fellow as you want the other fellow to be honest to you!
5. (Q) Why does Mann of Zonite hesitate to close the deal with McRoberts for Paris Medicine Co? (A) Again, questions are being sought that are inappropriate to the conditions. In the Paris Medicine deal there are MANY conditions to be considered. In the actions of Mann there is seen the reflection of conditions actually existent between the banker groups, who were to FINANCE the proposition, and the individuals AND their FINANCIAL standing or rating at the present time. The change in the quotation, or quoted value of stock, of stocks, has necessarily made a change in the position of individuals. Mann acting in the capacity, has to REPRESENT both sides of the question! A good deal, as has been given, is stalling - hoping that, with the conditions existent, with the holders of the Paris Medicine Company stock, may be induced by the situation as is seen in general, and the situations specific
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as regarding individuals, to CHANGE - so that there would be an approach from those to form the basis for a new contract. See? This, as is seen, is WHY the action has been as it has.
6. (Q) Shall [257] bring anyone into the deal at this time to assist Zonite to buy Paris Medicine Co? (A) Not until there is the indication from either the Zonite interests of from McRoberts that such is desired, for the condition of presenting such would be JEOPARDIZING the interests of [257].
7. (Q) What will be acceptable price to Grove now for his net receipt? (A) This has been set, and it will be held for that until there is a DEFINITE offer made, which will THEN be refused - but the stock, or the AMOUNT of stock, may be increased, while the amount of cash may be decreased.
8. (Q) What plan should [257] follow now to successfully close the deal? (A) This has been given, and has NOT changed.
9. (Q) What is Mann of Zonite willing to pay for the company now? (A) That agreed upon, provided the arrangements can be made, or provided there can be more of a stock given than so much of cash, and this would be agreeable on all sides; but it should not be broached by [257]. It should be an agreement from either McRoberts or from Mann.
10. (Q) How much cash, and how much stock will Grove take? (A) As has been given, it may be decreased in cash and raised in stock. As to how much, that would depend upon the circumstances and the time under which it would be asked. This has been given, in its relative ratio.
11. (Q) What price will Zonite be able to sell their stock to the bankers in order to pay Paris Medicine Co? (A) Not NECESSARY that they sell their stock. May be necessary to use their stock as collateral, but not as SELLING stock.
12. (Q) General McRoberts desires to submit the figures to Standard Brands. What effect will this have on Zonite deal on which [257] holds signed papers? (A) THAT, as has been given, should be left more in the hands of McRoberts. [257] NOT joining in on same, until agreed upon BY McRoberts that [257] is to still retain the SAME contact, or agreements, as he already has.
13. (Q) Has Grove received an offer from Drug Inc. or Lambert, or anyone else that he is now considering? (A) There has been some talk. There has not been a definite offer made. There is possibly basis FOR a
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consideration, but NOT in the very near future - unless there are some great changes from what the present conditions are with either.
14. (Q) If present plan as worked out in Mann's mind fails, what should [257] suggest to do? (A) It isn't [257]'s time to suggest, until after it has failed. Then, when it has failed, will be time enough to know what to say.
15. (Q) Will Zonite finally buy the business? (A) Why ask the questions both ways? Either sell it to Zonite or quit trying!
16. (Q) When may we expect deal to be closed? (A) When they've gotten together and agreed on the plan!
17. (Q) Will [257] receive the amounts already agreed upon in writing? (A) Dependent upon whatever concessions [257] chooses to make to close deal, by his over anxiousness!
18. (Q) Through whom and when will Wertheim be brought into picture? (A) Through the bankers!
19. (Q) How does Grove feel as to his liability to [257] on any deal that Grove may enter into? (A) As to how an individual feels, that depends upon the time or circumstances. As at the present time, it doesn't mean a cuss!
20. (Q) Should [257] attempt to push the final closing of the deal or depend upon Gen. McRoberts to call him from time to time? (A) This has been told. Either do that, or do as self pleases to do!
21. (Q) What should [257] say to Gen. McRoberts on the 50-50 commission proposal that the General suggested to [257] if Standard Brands are considered? (A) Leave that in his hands, as has been given.
22. (Q) If Standard Brands are to be consulted how much will they be willing to pay on the present figures in cash? (A) About two-thirds of that as first agreed upon.
23. (Q) If the deal is prolonged until March or April can it be made on all cash deal? (A) No.
24. (Q) What attitude and position do the forces wish [257] to take in order to handle this entire deal to the utmost - (A) This has been given! Just do that!
25. (Q) If Zonite tell the General that they cannot go on with the deal at this time as the General intimates will be done, what should [257] do? (A) Then begin the deal with the General, as has been intimated! They won't.
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26. (Q) The General has made suggestions to a new proposal paying Grove 14 million in cash, 8 million in stock. (A) Very good approach!
27. (Q) Will the Grove interests agree to this proposal or have they already agreed to it? (A) They would agree to it, as we see.
28. (Q) Should [257] discuss the proposal with Grove, or Seeley or should the General handle it with Grove? (A) The General.
29. (Q) Should [257] accept his part in Zonite stock at $25 per share, which is $5 above present market? (A) Very good - for it will advance.
30. (Q) Will [257] get the 2% commission in cash? (A) Wait until the deal closes and find out! The contract calls for same! Would they leave it out?
31. (Q) Sears Roebuck, Chicago, its President, General Wood, proposed to [257] to combine two of their factories with the Carolina Wood Products Co. and other factories, to manufacture furniture for Sears stores. (A) This has been discussed here, in the attitude made after the last conference. Partially satisfactory, partially unsatisfactory - and it has been outlined as to how this may be handled. Then either get together or change it around with some other combinations!
32. (Q) Should Sears stock be suggested for Carolina Wood Products? (A) It's very good.
33. (Q) Will [257]'s plan now laid out be successful with General Wood and his associates? (A) This has already been changed by the last conference! How can you say, other than it's the basis for which and from which the ruling may be laid out?
34. (Q) How soon can this plan be put into operation so Carolina factory will get business? (A) Depends upon how soon they can get together on that agreed!
35. (Q) Can headquarters be maintained in New York successfully? (A) Will be more apt to be maintained in Chicago!
36. (Q) What additional arguments should [257] use to sell the plan to General Wood? (A) No additional than that already put forth. Let more of the argument come from Wood.
37. (Q) What will be best financial set up to satisfy [257] and Wood interests? (A) This has been discussed, and OUT of it should grow that as would be satisfactory.
38. (Q) Should Albert Pick business be mentioned at this time as a possible merger with Sears?
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(A) No!
39. (Q) Any further advice regarding the Paris Medicine Co. deal? (A) No.
40. That is all the questions.
41. We are through for the present. Copy to Self " " Ass'n office " " Datastician