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Rainbow Ranche Collection

Letter from J.E. McAllister to James Goldie, September 11, 1933 McAllister, J.E. Sep 11, 1933

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 0 0
6 8  KING   STREET  EAST
TORONTO, 2
September 11th, 1933,
Mr. James Goldie, Manager,
Rainbow Ranche,
Okanagan Centre, B, 0*
Dear Mr. Goldie:
I telegraphed you yesterday as per enclosed
confirmation and herewith you will find the executed guarantee for
|14,000. The last clause of the guarantee makes it imperative that
any previous guarantees now held "by the "bank "be surrendered and
returned to the guarantor.
The enclosed telegram seems explicit hut if it
is not  clear please let me know. If you have committed the Ranche to
a marketing agreement with no guard against indiscriminate selling
"by others our company is indeed in a bad way and can only await the
process of selling.
If it appears to me in this process that we are
again "being left to take what is over after others have supplied the
market at higher prices, I cannot continue to guarantee any part of the
company1s indehtness and I leave it to your discretion whether you
inform either the Bank or the selling agency to which you may have
obligated the company of this condition.
This is not intended in any sense as a criticism
of your action "but a necessary precaution which I must take to
prevent getting more deeply involved in a transaction over which
our company apparently has no control.
Yours verju truly,
JBMcA/W
End.

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