1951 AGREEMENT SIGNED BY HOWARD HUGHES & NOAH DIETRICH 11 M. He document and all the material listed here originated from the Irving trust collection. A large collection of documents and thousands of papers that documented and chronicled the 10 year relationship between Hughes and Irving trust through out the 50’s in Hughes efforts to finance his empire through the funding by Irving trust. After Hughes death in 1976 and Prior to 1988 Irving trust at 1 wall st. NYC carefully catalogued the thousands of correspondence, telegrams, memos, personal articles and any dealings in there 10 year history, along with loans it had taken over from Mellon bank with an IT number unique to every piece making it easy to identify any piece coming from this collection by the IT # in its lower right. The bulk of witch now resides intact in a private collection. But in 1988 in the confusion that followed the hostile take over of Irving trust by the bank of NY the collection was left behind when Irving vacated the building. And subsequently thrown out with all the other trash when bank NY took over. But it was miraculously saved by a sanitation worker who spotted stock certificates in the boxes and grabbed the boxes. At the center is a 3 page 3 party agreement dated April 1 1951 between Hughes and Mellon bank making additions to an 11 million dollar loan not to exceed 25 million dollars to obtain 4 constellation aircraft for TWA and make any loans necessary to keep TWA going. This is signed Howard R Hughes with a nice bold signature in blue ink. Witnessed by Hughes lawyer and long time friend Tom Slack and cosigned by Noah Dietrich his vp of Hughes tool. Along side there signature is the Hughes tool seal along side melon bank seal. A 2 page typed letter to Hughes and the envelope addressed to Hughes aircraft CA signed Arthur Stewart. A bit of a mystery as to why this was in Hughes personal financial files at Irving trust NY but he goes on to to point out to Hughes he feels the delay in naming a president to TWA indicates the right man hasn’t been found and if the assumption is correct he can consider this an application. There was an Arthur Stewart in Hughes diary when it was found but with no further information. This may have been the start of a relationship with Stewart. 2 very seldom seen TWA specimen stock certificates in mint condition one with the remark in the upper right in pen “Boarder should be brown in color” includes the signed 1961 COA from TWA sent to Hughes with the certificates asserting them to be true specimens of the adopted design by TWA for that class stock. A 1951 TWA annual report with an illustration of a constellation air craft on the cover. Showing profits and losses for TWA for the year, mixing the bottom line with wonderful illustrations. A TWA post card with a constellation aircraft on the cover from paris. Written and signed by Walter Mendelsohn the senior partner of one of NY’s top law firms but perhaps better known for his 1980 donation to the metropolitan museum for the priceless painting “The love letter”. He writes to Ben Sessel ; “traveling from Rome to Paris YOUR airline has been tops” he underlines “your”. And oddly enough by this point TWA would have been more the property of the bank then Hughes, and shortly after the post card was written Hughes accuses Ben of trying to steal TWA from him. And by 1960 Ben Sessel’s name appears in the annual report replacing Noah Dietrichs on the board of directors. Please see all images, and any questions are welcome. The item “1951 AGREEMENT SIGNED BY HOWARD HUGHES & NOAH DIETRICH 11 M. FOR TWA AIRCRAFT” is in sale since Sunday, February 28, 2016. This item is in the category “Business & Industrial\Printing & Graphic Arts\Commercial Printing Presses\Sheet-fed Offset Presses”. The seller is “bistevie55″ and is located in Bay Shore, New York. This item can be shipped worldwide.
- Brand: Howard Hughes Aircraft
- Model: Constellation Aircraft TWA
- MPN: TWA Specimen Stock Certificates
- Country/Region of Manufacture: United States
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