History of Electric Induction Heating

Starting Over

By James Farol Metcalf

Telex to Allcarb

Dnieper order of Znak Pocheta

Electrode Plant named after the 50th Anniversary of the Soviet Ukraine, USSR, Zaporozhye, GSP-982

General Director of Electrode Plant

B. I. Ovchinnikov

The following is offered to help in the formalities of Allcarb. I am ready and eager to start my work.

BEPA Corp. is fully legal, but is totally under my private control with assets and capital moved into and out of the firm in accordance with its needs. At present the company has cash and good fixed assets just more than one hundred thousand dollars. My private cash assets exceed one million dollars (bank letter attached) that can be used for good investments on a moments notice and at my sole decision.

I am my bookkeeper and accountant. The official documents filed with the authorities for the period ending 31 December 1988 showed an operating loss of thirty-eight dollars. The documents for the period ending 31 December 1989 that are attached show a loss of $13,591.33. My income for 1990 is already more than $50,000, so prior losses will be overcome and the company will report a minor profit. There is no good purpose for me to pay taxes in the private corporation, so I adjust the income to my private name and trust funds.

During 1990 I have added income, cash, and assets to BEPA to prepare for the marketing and distribution of AllCarb's production. The location selected will allow me to operate at low cost.

The company is not large, but my word and signature are my bond. I have signed many contracts under several corporate names with the buyers of the Soviet Union during the past two decades, all which of have been honored. I have also signed letters of guarantees, private credit notes, and checks returning down payments. My commercial reputation is without a flaw.

There is nothing more for me to offer in the way of documents at this time. I trust these documents will be enough for your purposes.

Please telex me upon receipt.

James F. Metcalf
8 September 1990