The firm owes Mrs. Clemens and me--I do not know quite how much, but it is about $170,000 or $175,000, 1 suppose (I make this guess from the documents here, whose technicalities confuse me horribly.)
The firm owes other sums, but there is stock and cash assets to cover the entire indebtedness and $116,679.20 over. Is that it? In addition we have the L. A. L. plates and copyright, worth more than $130,000--is that correct?
That is to say, we have property worth about $250,000 above indebtedness, I suppose--or, by one of your estimates, $300,000? The greater part of the first debts to me is in notes paying 6 percent. The rest (the old $70,000 or whatever it is) pays no interest.
Now then, will Harper or Appleton, or Putnam give me $200,000 for those debts and my two-thirds interest in the firm? (The firm of course taking the Mount Morris and all such obligations off my hands and leaving me clear of all responsibility.)
I don't want much money. I only want first class notes--$200,000 worth of them at 6 per cent, payable monthly;--yearly notes, renewable annually for 3 years, with $5,000 of the principal payable at the beginning and middle of each year. After that, the notes renewable annually and (perhaps) a larger part of the principal payable semi-annually.
Please advise me and suggest alterations and emendations of the above scheme, for I need that sort of help, being ignorant of business and not able to learn a single detail of it.
Such a deal would make it easy for a big firm to pour in a big cash capital and jump L. A. L. up to enormous prosperity. Then your one-third would be a fortune--and I hope to see that day!
I enclose an authority to use with Whitmore in case you have sold any royalties. But if you can't make this deal don't make any. Wait a little and see if you can't make the deal. Do make the deal if you possibly can. And if any presence shall be necessary in order to complete it I will come over, though I hope it can be done without that.