Viewing page 380 of 510

This transcription has been completed. Contact us with corrections.

365 

284

CONFIDENTIAL.

#33 Ferry Avenue,
Detroit, Michigan, 
December 8th, 1905.

Dear Truman:- 

During the last three weeks I have been extremely busy, having made two visits to New York and one each to Philadelphia and Boston. This had prevented me from sending you the information, I had hoped to forward, concerning the Smithsonian matter.

Yesterday, I returned to Detroit and found that Messrs. Whitney and Buhl were awaiting my return home. I spent practically all the afternoon with them discussing P. D. & Co.'s affairs. The conference was very interesting and I set forth in very plain language, at their request, my views of the future management of the Company, including certain changes which I deemed necessary. A number of my suggestions, I found, differed from their united views, particularly, that of a president sometime in the near future who would willingly devote his whole attention to the business. Mr. Buhl is not inclined to resign and, eventually, even this point I waived.

The result was that the conference ended with the understanding that if they chose to do so they might elect me a Director, to succeed you, with the understanding that I would remain for one year, and if at the end of that time things ran smoothly, I would continue until you were ready for re-election to the Board. 

I felt after leaving the meeting that neither Mr. Buhl nor Mr. Whitney willingly assented to certain changes such as, systematic accounting, &c., which I insisted upon. However, I thought that I was to go on the Board and so notified Mr. Hargreaves.
 
This afternoon Messrs. Buhl and Whitney called upon me at my office and re-opened yesterday's storm, saying, that they considered my letter, received through you, a criticism on their management of the business and we thrashed again, completely, the crop of the previous day. Their attitude toward the changes I deemed necessary to the concern was such as to convince me again that it would be utterly useless for me to attempt to work with them, and I told them so frankly,