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stefansson-wrangel-09-35-002-001
June 27 No Ans
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V. Stefansson, Esq., Ellison-White Sevens Chautauqua Circuit, Twin Falls, IDAHO.
Dear Stefansson,
Enclosed please find copies of the Articles of Association and Memorandum of Agreement for the Stefansson Arctic Exploration and Development Company, Limited. These documents have all gone forward to the Registrar of Joint Stock Company]] in Victoria, and the company now is in the process of being incorporated.
I do not know of any terms in either of these documents that need explanation except perhaps Clause 26 of thw Articles of Association. That simply means that the company as incorporated is a private limited company and that we cannot advertise or in that way invite the public to buy the shares, but all the shares can be disposed of by private treaty. The fact that the company is a private limited company gives you a good many advantages, and has no practical disadvantages that I know of, inasmuch as I am quite sure you had never contemplated putting stock of this company on public market. If, however, you later decide to change the company into a public company, I believe this can be quite readily arranged.
You will notice that the signatures to these documents are those of my Secretary, Mr. Anderson, and our lawyer, Major Wilson. I have not used my own name for the reason that it will save me from being asked questions by inquisitive people, and I have not used your name for the reason that I have no Power of Attorney with which to sign.
I hope you will find everything in order and to your satisfaction, and if there are any matters that
stefansson-wrangel-09-35-002-002
V. Stefansson, Esq. -2- June 20/21
I have overlooked, please wire me promptly.
I am sending copy of this letter and of the accompanying documents to Mr. Lindeberg.
I am wiring you this evening to enquiry as to your wishes in the matter of publicity, and will be governed by your instructions. I do not know that it will be possible to prevent all publicity, if this is your desire, but I am quite sure that if you wished some favourable publicity, it would be quite readily secured.
Yours sincerely, A.J.T. Taylor