This psychic reading given by Edgar Cayce at the [257] home, ... St., Apt. 14-W, New York City, this 24th day of November, 1934, in accordance with request made by the self - Mr. [257], Active Member of the Ass''n for Research & Enlightenment, Inc.
P R E S E N T
Edgar Cayce; [257], Conductor; Gladys Davis, Steno. Isaac Lande and a Miss Rosenberg.
R E A D I N G
Time of Reading 5:30 to 6:05 P. M. Eastern Standard Time. N.Y.C. ([257] & Isaac Lande, both in this room. Advise [257] as to his proper move for the final culmination of the Carolina Wood Products proposition. You will give him all the information on the Carolina situation, complete review of what has been accomplished the last two weeks, with advice to go forward. Questions.)
1. EC: Yes, we have the body, the enquiring mind, [257]; also Isaac Lande and the Carolina Wood Products Company proposition. These we have had at least in part before. While there have been developments, and while the associations in some quarters - as given - are well, these have been proven rather in the manner that has been indicated for the body [257].
2. In reviewing the situations, the conditions that exist as respecting this as a proposition, many of those conditions should be, must be considered, if these are to be brought to a satisfactory activity.
3. As to the associations with those individuals necessary in the home surroundings of the activity, or Asheville, these cannot in any manner be ignored - if there is to be brought ANY bearing on the loans through the Federal Government channels. All, as we have indicated in this direction, must be a portion of ANY proposition for this to be acceptable as a loan, and as a part of the activities. As has been indicated in some one or many of the channels through which there is the employment or re-employment or distribution of the funds that would become negligible by such an activity, these are a portion of the proposition. As to the more recent developments as for an outlet for the products of such an organization, these - as we find - would only be as a strengthening of the proposition, provided these can be presented in such a manner as to be valid or as a portion of, or an insurance of the carrying on of, such an activity.
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4. As to the channels through which this is to be approached, as we find through O'Connor or through that GROUP would be the proper channels in which this may be handled. It might be through other channels that apparently are being opened for consideration, yet these do not - as we find - become or present themselves as being even a channel that might be considered as a suspect even in being helpful; only as an association or connection that might be used as a source of help in the interim while conditions are being arranged for such activities. But as we find this would not be as good a channel as some that may be presented through others that have more of an interest in the Carolina project. These are the conditions as we find them in the main in the present situation.
5. Then, as to how to bring these to an activity where there may be the definite closing of those propositions - or as to combining or getting together the varied ends of the propositions, this necessitates - as it were - the agreements in the various channels being made coordinant one with another, and then - as indicated - the presenting same through the channels to the Government for its consideration.
6. Ready for questions.
7. (Q) What value was trip that [257] made with E. A. Thompson of the Sterling Furniture Co., 142 E. 59th St., N.Y., to Asheville on Nov, 10th? (A) As indicated, rather as a prospect for an outlet in the immediate activities.
8. (Q) Will the Government consider his offer to guarantee a certain portion of the output to be taken through his stocks - (A) (Interrupting) As indicated, if these are made valid, as a portion of the agreements with those combinations - or certain portions of the stock or of stock subscription, paid for by the local citizenry and the interest evinced by those groups locally as indicated, that could be used by the local citizenry to show that by such an activity certain portions of those channels through which the Government EXPENDS money would be relieved by such an activity and that there was sufficient to warrant this being used as a channel, then it will all be considered.
9. (Q) What is the attitude of Mr. Morris, the banker, since Thompson's visit? (A) Rather as that of one watchfully waiting to see further developments. Not antagonistic, but not over enthusiastic as to the proposition - as understood by Morris at that time.
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10. (Q) Is it important to have Morris - (A) (Interrupting) As indicated, unless there can be that association - or that which Morris may supply through the local interest that may be made - you have a poor chance of the Government's acting!
11. (Q) What consideration in the stock set-up should be given to Morris? (A) That depends upon how MUCH interest there may be aroused by the activities of Morris; and this must be rather in the nature of that which may be worked out upon an equitable basis, dependent upon the manner in which this aid or help through these channels is to be supplied. See?
12. (Q) Will Mr. Farber of the O'Connor office be the proper man to lay this whole plan before? (A) As we find, these would be the proper channels - the O'Connor associations, for the proper operations. As we find, all of it - so we combine not only from the general fund from aid in the varied conditions, but from the special things for the aid from the certain channels as set for such conditions.
13. (Q) Will Mr. Martin of the Federal Reserve of N.Y. be of any assistance in this matter? (A) To be sure, he will be questioned respecting same, and in that manner - of course - will be of an assistance, provided his interests or his feelings are in sympathy with the undertakings.
14. (Q) What is the best plan for the purchase of the factory from the Atlas Co. of #1 Exchange Place, 8th floor, Jersey City? (A) These present, to be sure, rather confusing sort of conditions. Most any plan - for either the use on a percentage basis or the sale of the properties - may be considered by the Atlas Company; for a rental or percentage basis would make for a much preferable situation for the company - but do not confuse same to such an extent that the proposition makes for the hindrances in obtaining funds from the Government. For there must be the assurance that the Government is secured to the extent that the interest of the owners would not interfere with the payments to the Government, or the loans by the Government. So, these can be made in most any terms. Best, in the considering, that there be considered those terms required from the Government that these terms be made. For if the company becomes a portion of the agreements to the Government, it would be much more satisfactory.
15. (Q) From the standpoint of [257] and associates, would it be better to pay a cash price and own the business
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outright, or give a preferred stock issue and a common bonus and keep the Atlas as a partner? (A) Keeping the Atlas as a partner is more satisfactory to the Government associations.
16. (Q) Is David Goldman the proper man at Atlas to work this plan through? (A) This is a channel through which there may be made satisfactory associations and arrangements.
17. (Q) There is a man in Cleveland, Ohio, Christopher W. Beck, who owns the Crown Hill Cemetery; his office is in the Terminal Tower Bldg. He has offered to join [257] by furnishing one hundred thousand dollars to use in the acquisition of the plant. Is it advisable for [257] to consider a partnership with this man? (A) As we find, there are a great many conditions that would be in disfavor in such an arrangement or association; for, as indicated by the turns or conditions that exist, this might be used as an association for an interim - but we would hardly join partners with this man!
18. (Q) Would [257] be more successful for his own personal advancement in joining Beck's business that he is now in? (A) If personal interest ONLY is concerned, and no questions asked, yes! If [257] is considering himself, his future, no!
19. (Q) Do I understand the Forces to mean it is better not to use any part of his money and work it through the O'Connor channels entirely, alone? (A) Best not to use money for these channels, from this source! [See 257-143, Par. 22-A--23-A.]
20. (Q) What suggestion can [257] make to Farber upon opening his conversation, that will gain the confidence of the Farber office in this undertaking? (A) Just that which has been iterated and reiterated and reiterated! First the supplying of those channels locally, and meeting the needs, the demands for the activities in such directions; showing as to how and where and when the output of such an organization, an activity, can prove to be safe and sound.
21. (Q) How much cash will it take to buy the plant on an outright purchase? (A) This depends upon the manner in which the outright purchase is to be; whether an all-cash basis or a part payment with an interest or the like. At least fifty to sixty thousand dollars would change the whole outlook. That may be with an interest or with deferred payments.
22. (Q) What can [257] do now to assist his present financial situation, while awaiting the development of this plant?
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(A) In either of those directions as indicated; in an association with Beck or with the same organizations that are interested in this project, or in keeping in line with those various channels through which there has been some activity in these various conditions. [12/17/34 See 257-142 in re Texas lands association with C. W. Beck.]
23. (Q) Has he pursued the right course in turning the Bronfman liquor claim over to Mr. Lande for collection? (A) As indicated before, make first the direct demand, through those regular channels - and if not accorded or given the interest, then bring the charges.
24. (Q) Can we depend upon Mr. Ungerleider as a friendly aid? (A) In part.
25. (Q) Should the suit be brought against him, if necessary to bring, as well as against Bronfman? (A) If necessary to bring suit, he is a portion of it!
26. (Q) To which one of the Bronfman's had we better appeal for assistance in settling this matter in a friendly way? (A) That one through whom the deal was made!
27. (Q) In reference the Paris Medicine Co. of St. Louis, Mo., what is the next step for the attorneys to accomplish since the demurrer was denied? (A) Carry on in that channel that is open for the obtaining of those same channels of activity as have been indicated, and through which it must necessarily go.
28. (Q) Will this be a long drawn out manner, from present indications? (A) Not as long as it has been hanging fire; but about half as long!
29. (Q) Will this ultimately end up in a lawsuit trial or be a settlement? (A) This is asking to read too many people's minds! As we find, this is being considered - that there may be an equitable settlement.
30. (Q) Is there any other advice for [257] at this time which will aid him in getting his financial bearing to get back on his feet soon? (A) As we find, as indicated, if this will be carried on - and in the interim using these various channels as indicated from time to time, the new associations or the new connections that may be created, these will carry on until those connections and associations are completed. Copy to Self " " Ass'n file