Estimate: $600 - $900
Auction: November 12, 2020 10:00:00 AM EDT
New York, June 2, 1913. 3 pp. 11 x 8 1/2 in. (279 x 215 mm). Typed letter, signed by Hoover ("H C Hoover"), as a consulting engineering expert, to mining magnate and philanthropist, Adolph Lewisohn; additional lengthy MS. postscript by Hoover on p. 3. "Received" ink stamp, dated Jun 3-1913, at top right corner of each page. On Hoover's personal stationery; creasing from original folds; hole punch in top left corner of each page, staple holes along top edge. Together with: (London), September 2, 1913. 1 p. 10 1/4 x 8 1/4 in. (260 x 209 mm). Typed letter, signed by Hoover ("H C Hoover"), to Messrs. Adolph Lewisohn & Sons. On Hoover's personal stationery; faint "Received" ink stamp at top right, dated September 10, 1913; creasing from original folds. Lot includes a postcard portrait of Hoover.
Future thirty-first president Herbert Hoover writes to mining magnate Adolph Lewisohn about buying into a stock scheme and revealing the possibility of a merger between United Oil Company of California and General Petroleum Company: "I enclose herewith a printed statement with regard to the General Petroleum Company. You will notice in this statement that the estimates are based on the present production, although eighteen (18) drilling rigs are running at the present moment and in the oridinary course of time should double the present production within another twelve months; this double production being about the amount the Company can handle with its pipe line, storage and refinery equipment. Therefore, the profits under this stimulated position are a very much larger figure than are given in this present statement." He continues on about the nature of the stock option, adding: "The object of this is the possible necessity of clearing the decks of this issue in case the financing of the merger of this Company together with the Union Oil Company is brought forward before the maturity of the notes. As I explained to you, the General Petroleum Company has an option to purchase the control of the Union Oil Company."