[Letter from D. W. Kempner to W. L. Gatz, January 26, 1949] Page: 1 of 2
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January 26th, 1949.
Mr. W. L. Gatz,
c/o L2the ertig Co.,
Parag'ould, Arkansas.
Dear Gatz:
I overlooked the fact that the loan limit of the United
States Nlational Bank is $100,000.00, so that is as far as it could
go in connection with the proposed loan on the gins, but a loan
could no doubt be Made by the bank jiot exceeding $100, 000.00 based
on collateral at 50% or 60%.
I don't think you would have to pay over 5% interest on
such a loan, here or elsewhere, and if any of the loans were
made not exceeding three or four years, you might get th e rate
down to 4% or0%.
I wish you would send ne as soon as possible a detailed
list of the gins in which you have decided to put in the additional
cleaning and drying machinery and then give ne llolcomb's appraisal,
not in detail but in total, of each one of these gins and the date
he 'appraised same; what additional machinery is to go into each
and the approximate cost of same, the total of which would be a
reasonably fair value of each gin after the new machinery has been
installed. Let me know the amount that you would like to borrow
on each o. these outfits and the time payments you would want. All
of this would probably reach me after I have left on Sunday, but it
could be forwarded to me andl could work on it while I am away.
I enjoyed very mucIi being 'cith you in Dallas. Ye all had
a good time.
I was very sorry indeed that you and Joe did not come back
with me, even though only for a dad, or two.
Regards to Lrs. Gatz.
Sincerely,22
5
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Kempner, Daniel W. (Daniel Webster), 1877-1956. [Letter from D. W. Kempner to W. L. Gatz, January 26, 1949], letter, January 26, 1949; (https://texashistory.unt.edu/ark:/67531/metapth1341127/m1/1/: accessed August 15, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu.; crediting Rosenberg Library.