the life of Philo T Farnsworth - Early Television Foundation

l86
THE STORY OF TELEVISION
Company. There was nothing
in our discussions that would
justify the popular conception of the great banking house
swallowing up the little company from the West.
"What we want to do," said Hugh, "is pitch in and be of
some help to you. I am sure we can be very useful to you at this
juncture. We only want a small participation for the services
we render. We have just completed negotiations for a similar
group and have made a fine contract with the best company in
the field of their interest."
The plan suggested by Hugh was very simple, giving to Kuhn,
Loeb & Company a modest compensation for their services and
providing that the partners were to have an option on a limited
block of the Farnsworth stock at a fair price. This option was
later exercised at a time that was most advantageous to us in
our program of financing the activities of the company.
While the responsibility of meeting the constantly mounting
payroll still remained with McCargar and me, we felt that
at last we were headed somewhere in the eventual working out
of our plans to some practical conclusion.
From the moment the arrangements were made we were
always welcome callers at the Kuhn, Loeb offices. None of the
partners was ever too busy to sit down and discuss in great detail
the difficult and knotty problems of the company's develop
ment. Naturally most of the discussions were with Hugh, although
Louis Strauss spent a good deal of time with different
members of our organization.
From our experience with this firm I am convinced that
sincerity, untiring effort, and a meticulous integrity
and honesty
of purpose have given it the position of power and influence
which it enjoys.
The association with Kuhn, Loeb & Company was interesting
and valuable to Phil. There were many enjoyable conferences