Title: Letter from Walter P. Corbett (Vice President and General Manager) to Charles E. Adams (President), 28 August 1914
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Title: Letter from Walter P. Corbett (Vice President and General Manager) to Charles E. Adams (President), 28 August 1914
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Creator: Corbett, Walter P.
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Bibliographic ID: UF00029081
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Jacksonville Fla. August 28, 1914.


"Mr. Chas, S. Adame, -rooto
"Taoo Bay Commeroial Co.,
68 EL.sex St., Boston, ::ase.
Doar Ire Adama:.

Your favor of the 25th, roturing letters of ";mar,
Seared Grinanand oommenting at mane length upon the two trust
funds in the hands of "r. C. D. Rinehart, received,
I have just talked the matter over ith !ir :.inohart
and he has shown me his files--copies of letters to :.Ir, Cotton,
!r. r amtond, Ir. Cunningham and yourself, all regarding this
matter.
First, I beg to remind you and our aesooiates generally
that .r:' Rinehart, in an earnest effort to help everybody concerned,
very generously agreed to do this work as trustee without oompensa-
tion; that the matter has occupied vory much of r. idnohart's time,
and, moro than that, has caused him no little annoyance, betcane
certain of our associates, who agreed, eviJontly in all good faith,
to come into the pool, have, for one raeaon or another, failed to
pay in the amounts agreed upon.
It seome that it is difficult for oome of us to undor-
stand that LTr Hinehart is not to blame for this, any more than
yourself or Iolding or myself, and that it was not understood that

Mr. Rinehart would constitute himself a oolleoting agency for the
purpose of urging the prospootive mombore of the pool here or else.
whore to pay in their respective amounts.











Rinehart is good nature, but, I submit, that s om of
our associates have not seemed to aprrooi te that there is a limit

even to good nature*
As explained to you and iLr. Hammond and :.Ur Cotton at the
Directors' Llooting on July 31st, :,ir. Rinehart has devoted a very
great deal of his time to assisting me to map out some plan by which
we could save our property and make it worth, if not the par value

of the capital took of the company, at least make it sell for what
inrl:ooent investors like yourself and 1inehart and myself have put
into the property during the paot three years.
I do not v ih to be understood as making any captious

oritioismn, but ir does soem to me that those of our associates
who, ;hilo putting in a few dollars in the effort to savo our
property, have been relioved orLtiroly of the time, owner ;, and
brain work nooeseary to the 'orling out of so:. plan for tho
salvaro of our property and for making it worth a great many
"times more than we have put into it, should indeed hooitate to
oritialso Rinehart or anyone elso*
I notion you aay that :r. Belding has called to inquire
about the statue of the finances and the p-ols, oto,-all of v-hioh
0hoaTs a very commendable interest on :4r. Bolding's part, but what
I am waiting g to hear is some man among us offer some sugf-oatlon as
to how to proceed to make this property valuable, and all of this
was most exhaustively threshed out at the meeting of directors and

stockholders in Boston on July 21st

I notion you say that, unless the stock bought in by the
pool at some one dollar per charo shall pay in its thirty oonto









3.

aeaeesaent, that you will consider it a "steal" from the other
stookholders. ,ir. Adams, I am a party to that pool and your
language, if well oonoidered, is offensive to me and I shall
ask you to withdraw it, as never in my life has it been suggested
that I was in any sense, form or manner connooted with, or party
to a stoal of any kind.
In order that our deeply interested friends may know
just what I feol about this matter, I am sending a carbon of
thief letter to Ir. Belding, :lr. T, J. Hamaond and Ir. Geoo. T.
Cuanin m, and am keeping a carbon in the fileo of r., .inehart,
"Yours very truly,

i/;i ^ \ ^~





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