Letter, Kate Gleason to James Gleason

Kate Gleason
Builder
Beaufort, S.C.

Dec. 3, 1932

Dear Jim,

My preferred stock is much less
than yours because I sold 800 shares to
Father 12 years ago. I know I could re-
tain the voting rights even if I sold
more of it. But I want to keep it as an
investment.
I told you I have left all my preferred stock to
Eleanor in my will. And when I had the common trans-
ferred to the Kate Gleason Corporation, I left all the
stock in that corporation which includes Sea Ixxsland,
Incorporated to 3 trustees, Eleanor, Carl Bown and Mr
Noyes. They are to transfer 1/3rd of the common to (Gleaso)
the Welfare Fund at the Gleason Works. The other
1600 odd shares is to be sold from time to time to what-
ever young employees will be recommended by the older
stock-holders on the same kind of terms as we sold the
900 shares already distributed. And as the main ob-
ject is to leave the stock for the benefit of the bus-
iness, the price is to be low enought to take into con-
sideration that the prospective buyers have done some-
thing to earn it.
It is very probable that when my job here is a few
years farther on, that I will consult you about selling
some of this stock in my life time reserving the voting
rights as Father did when he sold to us.
Eleanor and I are working at odd times on a history
of the McDermot’s and “Glesan’s” for the children. And
I was glad to find this cut in one of the papers lately.
Uncle James was the Union Engineer. And the way I al-
ways heard the story, he would not have been over-hauled
if the Confederates had not been able to wire ahead and
have logs put on the track. You remember Father and I
met the only surviving Union Guard when we were in DeLand
20 years ago. And that’s the way he told it.
Please send me the cut back for my part of the
book.

Yours,
Kate Gleason

[handwritten in bottom margin]
Copy to
Eleanor Gleason
Roosevelt Apts
Dec 6 ’32