ABBOTT & COSTELLO (LOU COSTELLO) - CONTRACT SIGNED 12/15/1952 - HFSID 274973
ABBOTT & COSTELLO: LOU COSTELLO Contract to borrow money for the financing of a 26 photoplay series starring him and his comedy partner Abbott, for NBC Typed Contract Signed: "Lou Costello" as Producer on page 14 and initialed:
Sale Price $637.50
ABBOTT & COSTELLO: LOU COSTELLO Contract to borrow money for the financing of a 26 photoplay series starring him and his comedy partner Abbott, for NBC Typed Contract Signed: "Lou Costello" as Producer on page 14 and initialed: "LC" on page 3, 8½x11, 14 pages. No place, 1952 December 15. Headed: "Agreement/(Motion Picture Series)". Agreement between TCA, a California corporation, and the National Broadcasting Company, Inc. relating to a "motion picture series, co-starring Bud Abbott and Lou Costello" to be produced by Costello. In part: "Under date of December 11, 1952 NBC entered into a certain agreement with Edward Sherman part of which relates to the production and financing of additional motion pictures, co-starring Artists...That Producer has obtained the services of Bud Abbott and Lou Costello as co-stars with respect to the series of motion pictures hereinafter described...Producer will own and have free and unencumbered title to all literary, dramatic and other materials contained in the pictures...Producer further warrants and represents that the said photoplays will be original...the loan hereinafter provided to be made to Producer, together with other financing available to Producer, will amply finance the photoplays hereinafter described and enable to Producer to complete the production and delivery of the same within the time hereinafter described...the first thirteen (13) programs will be delivered to the distributor on or before September 1, 1953...The total number of films to be produced hereunder is twenty-six (26)...Bud Abbott and Lou Costello will enact the principal roles in each of the photoplays...Arrangements have been made for the Producer to borrow from Bankers Trust Company...the sum of Three Hundred Ninety Thousand Dollars ($390,000.00) and Producer will borrow same from said Bank and will use same to finance production of the twenty-six (26) films hereunder, provided NBC acts as surety of repayment of said loan as hereinafter provided...NBC reserves the right to change, substitute or add to the time and/or day or sponsor of telecast of any such live program starring the Artists or either of them by giving appropriate written notice to Producer...." Also signed by a representative for NBC, who has initialed next to his signature and on page 3. This contract probably refers to The Abbott and Costello Show, which aired from 1952-1953 (38 episodes). In 1952, Costello was also seen in three feature films: Jack and the Beanstalk, Lost in Alaska and Abbott and Costello Meet Captain Kidd. With partner BUD ABBOTT, LOU COSTELLO (1906-1959) formed one of the greatest comedy teams in the history of show business. They mastered the straight man/clown relationship, creating a magical chemistry that took them from vaudeville and burlesque to radio, Broadway, film and television. The Abbott & Costello Show aired on radio on ABC from 1941-1946 and on NBC from 1946-1949. Abbott and Costello were also guest hosts of NBC's hour-long live variety show, The Colgate Comedy Hour, seven times between 1951-1954. Their "Who's on First?" routine is enshrined in the National Baseball Hall of Fame. Abbott and Costello split up in 1957 after troubles with the Internal Revenue Service left both men broke. Lightly creased. Staple holes at left corners, two file holes at upper margins. Fine condition.
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