This Psychic Reading given by Edgar Cayce at his office, 115 West 35th Street, Virginia Beach, Va., this 20th day of June, 1931, in accordance with request made by Messrs. Weaver, Drummond and Kahn.
P R E S E N T
Edgar Cayce; Gertrude Cayce, Conductor; Gladys Davis, Steno. W. W. Weaver, J. F. Drummond, and L. B. Cayce.
R E A D I N G
Weaver & Drummond, Time of Reading 422 Dickson Bldg., 3:45 P. M. Eastern Standard Time. Norfolk, Va.
1. GC: You will have before you the bodies and the enquiring minds of W. W. Weaver and J. F. Drummond, present in this room, and the Automatic Insurance Vending Machine which they are attempting to put on the market. You will also have those associates and individuals who have been consulted in regard to, and interested in, this proposition. You will answer the questions which they will ask regarding these.
2. EC: Yes, we have the bodies, the enquiring minds, W. W. Weaver, J. F. Drummond, present in this room, and those conditions as relating to the distribution and manufacture of automatic insurance vending machine, and those that have been, and may be, consulted as respecting same.
3. As we find, as we have had before, there have been contacts made that are interested in the machine, and in the distribution in the insurance, and in the various features as may be had from such a machine.
4. There are those conditions that enter in that make for an indecision as respecting the beginning, or the operations, or the contract for. This is a financial status with some of those interested, and the lack of wholehearted confidence on the part of others without consulting others with whom they have been associated.
5. As we find thus far, conditions are satisfactory in some respects; as in other respects, not so well. There needs be, while not PRESSURE - but rather that of decision on the part of those handling same, as to the contacts, and what shall be done, and how soon; for, as has been given, the merits of same are noteworthy, as will be the operations of same when they ARE put in action, or on the market. There will be the necessity, to be sure, of turning the mind of the public to this mode of insurance, more from that of assuring the insured that it is a BONAFIDE condition, or contract, with those that deliver, or the manner of delivery - see? Ready for questions.
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6. (Q) Has Kahn made good connections with insurance companies in Chicago? (A) These are very good, though they should be with more of those that have the authority to act - and insist on going all through the board!
7. (Q) Is there any reason why insurance companies should not accept proposition? (A) None, as we find!
8. (Q) As time is a vital element is there any reason why we should not get immediate action from them? (A) As to the whys and wherefores, these have been given. As to two MEET them, as has been outlined, there should be some PRESSURE; not demands, but good sales proposition as respecting the thing! and play one against another! Don't stop with just one because they're interested!
9. (Q) If they want more time should they not pay for option? (A) They SHOULD, and pay handsomely!
10. (Q) What would be a fair price for an option? (A) That would depend upon how many machines they are CONTEMPLATING using at the time, see? or as to whether they are to be the distributors AND the insurance people, or whether they are to be just the insurance people - see? or if it's to be combined, be made into one, as there are some contemplated actions in this direction, then it should be at least from ten to twenty thousand dollars!
11. (Q) Would it be better to raise the capital among a comparative few, or to have a large number of stockholders? (A) BETTER if it may be done by the insurance company, or insurance companies, and if they are to be made into two organizations, have these in a comparative few!
12. (Q) Could Weaver & Drummond sell all the stock necessary in New York with Kahn's assistance? (A) In three to four months, they could!
13. (Q) Would it be advisable for Weaver & Drummond to go to New York at once for this purpose? (A) That depends upon the answer as to be received from those who are contemplating joining in same!
14. (Q) Weaver & Drummond having exhausted their resources to the point of endangering the proposition, advise how they could and should obtain immediate financial aid. (A) Through these same channels!
15. (Q) How should they go about it? (A) Have more than one who have offered to finance the proposition, or see it financed, and play one against another for immediate action! That doesn't ENDANGER; neither does it entail them!
16. (Q) Any other advice and counsel that will be of help
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to them at this time? (A) In these considerations, there is to be, of course, THIS consideration given by all concerned: True enough, circumstances and conditions demand an immediate action, but do not JEOPARDIZE selves any more than absolutely NECESSARY in the existing circumstances, for large propositions such as this - to become or be of any VALUE - MUST move slowly. If the contemplated action of the groups are just a few machines, then get somebody else! or get a larger stock, or make it from a different proposition and demand that they give some immediate action on the proposition, see? for while stock was being sold - were this begun immediately - there should be sufficient from same coming to those issuing same, or selling same to take care of immediate needs. If one can't be done, then do the other - see?
17. We are through for the present. Copy to Weaver & Drummond " " David E. Kahn " " File (Edgar Cayce's folder)