Letter from Frederick Macmillan (Macmillan London) to George Brett (Macmillan New York), 13 Nov. 1905, re Macmillan Canada




[on outside of copy:] Memorandum of formation of Canada house
Copy of F. Macmillan's letter to Mr. Brett in regard to formation of Canada Co.
A company to be formed say in December 1905 to be called "The Macmillan Canada Company".
The offices to be at Toronto.
The capital stock $20,000 viz 200 shares of $100 each.
Macmillan & Co. Ltd London to buy 80 shares
Macmillan Co. N.Y. to buy 80 shares
Frank Wise 1st President. Salary $2,500, to be offered the remaining 40 shares.
Stock to be paid for 50% on call and 25% each in 3 and 6 months thereafter.
Directors. 1st year. The necessary number of Canadian Directors and the Directors of M & Co. Ld. and G.P.B. of N.Y.
M & Co. Ld. to supply goods at prices charged N.Y. & the M. Co. " " " L.14.
All goods to be on sale for 1st 3 years & goods published by either house to be supplied only through the Canadian house in Canada.
A/co to be made up to April 30 & October 31 in each year & all goods sold to be paid for 30 days thereafter.
Books for review or free copies for schools to be presented from stock on hand and not paid for.
The President not to be empowered to give promissory notes or acceptances or to arrange for the publication of Canadian books except with the approval in each instance of G.P.B.
The agency of A.R.C. Black to be under-taken under the same terms & conditions as their Agency in N.Y. and their books given the same opportunity as those of M.Co. and the M.Co. and such other agencies may be undertaken as may from time to time be approved by the Directors.
Copied in New York
Nov 13 1905
Regular books @ cat price less 2/3
Net [books @ cat price less] 1/2
Bell from N.Y.
Dent [from N.Y.]
Cambridge [from N.Y.]
Misc. [from N.Y.]
[to right of the above list:]
regular 1/2
net 1/3
import as
needed only.