VILHJALMUR STEFANSSON - TYPED LETTER SIGNED 11/03/1939 - HFSID 46543

VILHJALMUR STEFANSSON
Vilhjalmur Stefansson writes a typed letter about a business contract that is being negotiated between the North American Film Corporation and Stefansson.
Typed Letter Signed: "V. Stefansson.", 1p, 8½x11. New York, New York, 1939 November 3. To Mr. A. G. Beaman, Los Angeles, California. Begins: "Dear Gary". In full: "This is with further reference to my letter of September 12 and your reply of September 19. From this exchange it appears that the only point in question relates to Paragraph 6 of the proposed contract, where it is specified that payment is to be on net profits. While I do accept your assurance that there will be no padding or overloading of expenses charged against any film, I cannot rid myself of the feeling that this is not a desirable basis for a business arrangement. As I have told you, my feeling in this regard stems from an unfortunate experience which I once had with a contract based on net profits; there is also the advice of friends and business associates, as well as of my attorney, all of whom warn me against entering into such an agreement. IN addition to the purely business and financial aspects there is the personal angle -- I value your friendship and do not want us to enter into any agreement which might eventually lead to friction. I therefore return to the suggestion contained in my letter of September 12. In my opinion the contract should be based on gross profits. Your proposed contract called for 'ten percent (10%) of the net profits derived from the distribution and sale' of each film in which I participate for the North American Film Corporation. Again I suggest that this paragraph be changed to read that the return to me should be based on gross takings from my film, instead of being based on net profits." Artic explorer and scientist Vilhjalmur Stefansson (1879-1962) spent a total of ten winters and seven summers exploring Canada's northern regions. Referred to as the "Prophet of the North", he covered a distance of nearly 20,000 miles in his travels on foot and by dogsled, living among and adopting the clothing and habits of the native Inuit people. Stefansson, who became a lecturer at Dartmouth in the 1930s and 1940s, did much to change the image of the Arctic through his lectures and writings, portraying the region as friendly and hospitable. Lightly creased with folds, at signature. Fine condition.