Letters containing accounts between Vilhjalmur Stefansson and John Anderson, 1921

Author Stefansson, Vilhjalmur

Author Taylor, Alfred James Towle

Date1921

ms numberStefansson Mss-98, Box 9, Folder 7

abstract

Persistent Identifier
^ Stefansson Arctic Ex. ^
October 13, 1921
Dear Mr. Anderson:
Thank you for the information contained in your letter of October 7th.
The only thing in your letter which calls for comment is the paragraph on Page 2 inquiring if I know how much money Crawford found awaiting him in the bank in Nome. The facts in that regard are as follows:
As you know I made arrangments with Jafet Lindeberg to charter the Orion. The chartering was to be paid for in shares of the Company but we were to pay for certain repairs on the Orion in cash. I transferred to Lindeberg $1,750. Of this about $700 or $800 was to be used to pay for repairs on the Orion and the remainder was to be transferred by Lindeberg to Crawford's credit at the Miners and Merchants Bank in Nome. I believe Lindeberg carried all this out correctly. I presume the amount Crawford found awaiting him was $900 or $1,000. However if you look up Crawford's telegram to you in your files I think you will find that he mentions the amount. Doubtless he will also write you to the same effect, which letter should arrive soon.
I believe it will turn out that the Pioneer Mining Company, who held the Orion at the time Crawford was in Nome, were not the real owners and had to relinquish the boat to Lindeberg. Meantime, however, this delayed our expedition. I believe Lindeberg intends to sue the Pioneer Mining Company for damage in this connection.
I suppose I should receive shares to correspond to the entire $1,750 paid by me to Lindeberg. Our Company will then have a claim upon Lindeberg for the difference between whatever money he deposited to Crawford's credit in Nome and the total amount which I gave him.
Mr. John Anderson, Secretary The Stefansson Artic Exploration and Development Co., 614 Credit Foncier Building, Vancouver, B. C., Canada.
^ Oct. 13 ^
THE STEFANSSON ARCTIC EXPLORATION &DEVELOPMENT CO., LTD.
614 Credit Foncier Bldg.,Vancouver, B. C.
Oct. 7th, 1921.
V. Stefansson, Esq.,c/o The American Geog. Society,Broadway at 156th St.,New York, U.S.A.
Dear Mr. Stefansson,
I enclose copy of the Trial Balance of theCompany as at 30th September. By comparing the AugustTrial Balance with the one enclosed, the only accountschanged are - Allan Crawford, Dis. Int. & Exch. a/cs.,Expense General, Stefansson and Bank accounts, and twonew accounts added.
The two new accounts are self-explanatory;the first being the loan to you by myself, and the secondthe "Silver Wave" charter account, being the funds wetransferred to the Miners & Merchants Bank, Nome. The"Silver Wave" account shows $1994.28. It should havebeen $2017.35, the Bank making a mistake in the transferring, which has now been rectified and will show inOctober statement.
The difference in Crawford's account is accounted for the $1600.00 we transferred to him by wire.I have charged it to his account until I get a statementof the details of the transaction re the charter of the"Silver Wave".
The increase to the Discount, Interest and Exchange account is the charges for American exchange,and in transferring the funds to Nome. Expense Generalincrease is for telegraph charges transferring funds toNome.
The balance in your own account is made upas follows:-

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Balance 31st August ... $ 48.50
7th Sept. Transfer in Can.currency ... 1,000.00
29th " " $1500. Amer.exch. ... ^=^ 1,648.35 ^in Can ccy^
30th " " $ 500. " ...^=^ 549.45 ~ ~
$ 3,246.30
V. Stefansson, Esq. -2- Oct.7/21.
for which I have issued another 32 shares fully paid for,leaving the balance of $46.30. This now makes your totalholdings to date 72 shares.
The total paid up Capital,as you will see fromthe Trial Balance, is $8900.00, made up as follows:-

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V. Stefansson, 72 shares, value $ 7,200.00
A.J.T.Taylor 1 " " 100.00
John Anderson 1 " " 100.00
Fred. A. Payzant 5 " " 500.00
F. W. Maurer 10 " " 1,000.00
$8,900.00
The shares to Crawford and Knight I will not issue until they are paid for in full from the deductionsfrom their salaries.
I understand that, when Crawford reached Nome,there were funds at his disposal in the Bank. Do you knowhow much there was, and did you send it? If so, then youshould get credit for it, and shares issued to you to cover.Perhaps in the letter that Crawford has written me, butwhich has not yet arrived, all these particulars will begiven.
To arrive at the total Receipts and Disbursementsof the Company; the total of right hand column shows thereceipts $9946.30, and your total disbursements to date isthe total of the left hand side, less the amount of the bankaccount, $8735.38, as I am afraid we will have to considerthe amount I have charged Crawford as having been disbursed.
If there is any additional information in regardto the accounts you require at any time, I shall be verypleased to furnish it to you.
Yours faithfully,^ John Anderson ^Secretary.
JA : WEnc.
THE STEFANSSON ARCTIC EXPLORATION ANDDEVELOPMENT CO., LIMITED._______________________

TRIAL BALANCE.

30th Sept. 1921.

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John Anderson $ 1,000.00
Capital paid up 8,900.00
Allan Crawford 2,016.55
Disc. Int. & Exchange 515.16
Expense General 516.84
" " Outfitting 3,116.16
Galli 90.00
E. Lorne Knight 250.00
F. W. Maurer 50.00
Stationary & Office supplies 36.39
Salary account 150.00
V. Stefansson 46.30
"Silver Wave" charter 1,994.28
Union Bank of Canada 1,210.92
$ 9,946.30 $ 9,946.30
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