the life of Philo T Farnsworth - Early Television Foundation

FINANCIAL PROBLEMS UNEXPECTED BANKING SUPPORT l8j
true, because I had vividly
in mind the humble beginning and
years of patient striving that had led us to the point where one
of the great banking houses was voluntarily offering us a helping
hand.
Hugh went on to say,
"I don't know what would be a fair
basis, and I suggest that you get in touch with Mr. McCargar
and have him come East to discuss the matter."
I said that I would write him immediately, and Hugh replied,
"I suggest that you wire him."
There are times when a stroke of good fortune seems a little
too good to be true. As I left the Kuhn, Loeb offices I found it
necessary to steady myself in the hallway by leaning against the
wall before venturing into the street. I had imagined that at
some time Hugh, or his firm, might
offer some constructive
suggestion, but at no time had I
anticipated or hoped that a
great conservative banking house would offer direct help or
participation by its partners
in our venture.
As soon as I returned to my hotel I telephoned Phil the
astonishing news. He, of course, was elated, but he had some
reservations. "You aren't going to let them get control, are
you" he asked.
I assured him that that was not the idea, but that we had
gained some powerful support. "I want you to meet Hugh," I
told Phil, and added laughingly, "You know he is
finds and proteges, as you are."
one of my
Phil was eager to visit the offices of Kuhn, Loeb & Company
and meet Hugh, as I had suggested. This was another rung in
his ladder to success and he was anxious to step up on it.
Within a week Mr. McCargar came on to New York. He
and Hugh and I set about to work out a satisfactory arrangement
between the Farnsworth company and Kuhn, Loeb &