Letter From the Watch Tower Society About Stock in the Rand Cam Corporation (November 11, 2002)
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Christian Congregation of Jehovah's Witnesses
2821 Route 22, Paterson, NY 12563-2217 Phone:(840) 406-1100
November 11,2002
Dear
However, we will now be glad to address your questions about the allegation that the Watch Tower Society owns stock in the Rand Cam Corporation
After looking into this matter when it was first raised, we found that none of the legal corporations used by the Governing Body in caring for Kingdom interests own stock in the Rand Cam Corporation or any associate company involved in developing the diesel engine in question. The facts are that two brothers originally involved in inventing and developing the engine made a private agreement years ago (of which we were not notified) to send a portion of any profits realized from the venture to the Watch Tower Society as a gift for its worldwide work. Subsequently, circumstances required that rights to ownership and developing the engine be transferred to a holding company not controlled by them. The Watch Tower Society was erroneously listed as a stockholder in information published by the holding company, and this error has now been corrected. Hence, the charge is totally false. Moreover, the Watch Tower Society has received no contributions as a result of the original private agreement made between the two brothers.
We trust the above comments will be helpful to you. We send our warm love and Christian greetings.
Your brothers in Jehovah's service.
Christian Congregation of Jehovah's Witnesses