Document 10x3ydDzx2qy8a5kyMobMM61o

' CHARLES M. PRICE RORERT S. CUSHMAN HAROLD D. BURGESS CLIFFORD C. PRATT ROBERT C. KECK CHARLES B. MAHIN JESS HALSTED WENDELL J. BROWN WINFIELD T. DURBIN ARLINDO S. CATE JOSEPH A. DUBBS . WILLIAM D. MCFARLAND JOSEPH N. MORENCY. JR THADDEUS S. SNELL JOHN M. BETTS JOSEPH KElG. JR. JOHN W. HOUGH JAMES T. OTIS ROBERT W. WRIGHT ROBERT M. GUNN THEODORE W. GRIPPO JAMES G- HIERING KARL W. GRABEMANN EDWARD X. CLINTON EDWARD S. SILBER RICHARD S. RATCLIFF BENNET B. HARVEY, JR. WILLIAM C. IVES MICHAEL K. CAVANAUGH A. CARTER HOWARD. JR. JOHN R. MANNlX, JR. BENNO P. LUDWIG JOHN A. JEFFRIES JONATHAN G. BUNQE PRICE, CUSHMAN, KECK & MAHIN LAW OFFICES J34 SOUTH LA SAILS STREET CHICAGO, ILLINOIS 60603 TELEPHONE RANDOLPH 6-0000 AREA COOC SIC ' CABLE AOORCBSCS _ "hamecott" *cmamo** May 11,. 1972 ST rvi'N N; 'Abfl MAN john t. Allen, jr. JOHN R. r. FREDERIC* N. RATFS THOMAS E . BPANNIQAN PAUL D. BRAUN JAMES A. BRODERICK GEORGE E BULLWiNKEL ROBERT A. CREAMER DONALD J. ERICSSON. JR. MlNARD . HULSE..JR. COLEMAN S. HUTCHINS JEFPOC f G. LISS JOHN A. MC DONALD ' PATRICK B OSTER EDWARD L. OVERTREE Cl ARENCE O. REOMAN RICHARD L. RElNISH DOUGLASS F. ROHRMAN ROBERT F. SEMMER JAMES M. SHER'DAN JOSEPH W. TOWNSEND. JR. WESLEY S. WALTON JOHN T. WILLSON OENNiS M. WILSON OF COUNSELi WALTER S. UNDERWOOD JOHN E. MACLEISH (1969) CRANSTON SPRAY (1967) CHARLES F. HOUGH (1968) FILE HO. 3710 John F. Stapleton, Esq, Monsanto Company 800 North Lindbergh Boulevard St, Louis, Missouri 63166 Re: Monteagle Silo Company Dear Mr, Stapleton: This will confirm our telephone conversation yester day afternoon, during which I advised that we have carefully reviewed the entire problem which faces both Monteagle Silo Company and the Monsanto Company. It is clear that Monteagle personnel can no longer put off the various claimants and it is in the interest of both companies to get this matter resolved now, one way or another. If repairs are not made quickly, a number of lawsuits will quickly follow. It is also clear that Monteagle's business reputation and profits are being seriously adversely affected. Moreover, if Monteagle is placed in a position of having to face these claims alone, the Company will go under. We have also carefully considered the proposal which you outlined on the telephone last week, but we cannot accept it -and are convinced that Monteagle should not be asked to contribute anything toward repair coats or other costs or expenses. How ever, as discussed, in an effort to demonstrate to Monsanto that DSW 325526 STLCOPCB4075618 PRICE. CUSHMAN, KECK & MAHIN - John F. Stapleton, Esq* -2- Sr-; - .'... .. :'V :: '.. '.-:> .*' '- May 11, 1972 Monteagle would not submit inflated bills or "rubber stamp" any repair bills, Montgagle would be willing to contribute 5% toward repair costs. This is "-the maximum which Monteagle can contribute, and it should be understood such contribution would relate only to repair costs and not to any judgments or costs resulting from lawsuits which might be filed by any of the claimants. Finally, as discussed, Monteagle would prefer to have Monsanto deal directly with the claimants, but if an agreement can be reached as set forth above, Monteagle would be willing to continue to deal directly with each claimant. In any event it should be understood that Monteagle has neither the equipment nor the personnel to effect all the repairs, and it would thus be necessary to engage other personnel for this purpose. , In conclusion, we appreciate your consideration, but we must repeat that because of the pressures being brought to bear on Monteagle, it is necessary for us to have an answer on or before May 17, 1972. Very truly yours. ESS/tf C=L Edward S. Silber ccs: Messrs. C. W. Boswell, Vice President Monteagle Silo Company, Inc. P.0. Box 798 ^ Monteagle, Tennessee 37356 E. D. Risher, Jr. 609 Hale Street Augusta, Georgia 30901 DSW 325527 STLCOPCB4075619