Lot 276

Howard Hughes Signed 1958 Contract, PSA/DNA - In Archive Re: $7 Million Loan; RKO Flops "The Conqueror" & "Jet Pilot"

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Howard Hughes Signed 1958 Contract, PSA/DNA - In Archive Re: $7 Million Loan; RKO Flops "The Conqueror" & "Jet Pilot"

Estimate: $3,000 - $3,500

Current Bid: $1,000

(1 Bid)

June 17, 2026 10:00 AM EDT
Live Auction
Wilton, CT, US

Description:

Howard Hughes
various, ca. 1956-1959
Howard Hughes Signed 1958 Contract, PSA/DNA - In Archive Re: $7 Million Loan; RKO Flops "The Conqueror" & "Jet Pilot"
Archive

A group of correspondence and legal documents relating to Hollywood film producer Howard Hughes (1905-1976), including a 4pp contract granting power of attorney signed by Hughes as "Howard R Hughes." The archive consists of six documents, ca. 1956-1959. Various places including New York City and Los Angeles, California. Numerous clerical markings, dockets, margin notes, blind-embossed seals, and hand-stamps are scattered throughout the watermarked and onion-skin pages. Expected wear including flattened transmittal folds, extra wrinkles, staple holes, and hole punched edges, else near fine. The largest document measures 8.5" x 13". 6 pieces, 11pp total. The signed contract is accompanied by a PSA/DNA Letter of Authenticity, certification number AE04511, dated February 8, 2018.

The paperwork in this archive relates to Hughes's financial dealings with RKO Radio Pictures, Hughes corporate subsidiaries, and several investment banks. During this period, Hughes was heavily engaged in stock trading and large-scale buying and selling. The documents reveal that Hughes obtained significant loans - up to $7 million - using existing company holdings and motion picture film rights as collateral. Hughes and his invested attorney-in-fact Raymond A. Cook were juggling enormous debts and paying off large interest payments, all while Hughes was increasingly growing reclusive and showing signs of morbid obsessive-compulsive disorder.

The lot includes (in chronological order):

1. A 1p typed letter signed by Frederic H. Brandi, president of Dillon, Read & Co., Inc., as "F.H. Brandi." April 25, 1956. [New York, New York.] Typed on watermarked "Dillon, Read & Co., Inc." letterhead. Addressed to Ben-Fleming Sessel, Senior Vice President of Irving Trust Company, in part: "we request you to pay us today on behalf of your customer the sum of $200,000 by official check…" 8.125" x 10.125".

2. A 1p retained copy of a typed letter signed in print by Howard Hughes as "Howard R. Hughes" via Raymond A. Cook, Attorney-in-Fact. April 1, 1957. N.p. Addressed to RKO Radio Pictures, in part: "You are advised that the motion pictures, 'The Conqueror' and 'Jet Pilot', and all my rights, titles and interests… have this date been assigned and pledged to Irving Trust Company… as collateral security for a loan…" 8.5" x 11".

3. A 4pp "Power of Attorney" legal contract signed by Howard Hughes as "Howard R Hughes" above his printed name on p. 4. Co-signed by a witness, Dallas Keller, and Notary Public Howard C. Landeen, who has added his notary seal. November 1, 1958. [Los Angeles, California.] Typed on watermarked legal sized sheets. 8.5" x 13".

The contract invested Raymond A. Cook of Harris County, Texas as Hughes's Agent and Attorney-in-Fact in dealings with Irving Trust Company; Merrill Lynch, Pierce, Fenner & Smith; Hughes Tool Company; and the Atlas Corporation. In this capacity, Cook was permitted to secure future loans and schedule payments, including interest payments, during a 1-year period beginning November 1, 1958.

4. A 2pp retained copy of a typed letter signed in Hughes's name by Raymond A. Cook, Attorney-in-Fact, and co-signed by an Irving Trust Company executive. March 1, 1959. N.p. In part: "This will confirm our understanding of the terms on which you will extend from March 1, 1959 to June 30, 1959 the $7,664,659.39 of loans outstanding under the Special Loan Agreement dated March 5, 1956…" Stapled. 8" x 11".

5. A 1p retained copy of a typed letter signed in Hughes's name by Raymond A. Cook, Attorney-in-Fact. May 13, 1959. New York, New York. On watermarked lightweight paper, in part: "On or before June 30, 1959, the undersigned, HOWARD R. HUGHES, for value received, hereby promises to pay to the order of IRVING TRUST COMPANY… the sum of Two Hundred Forty Thousand Dollars ($240,000) and to pay interest as hereinafter provided…" 8.5" x 11".

6. A 2pp retained copy of a typed letter signed in Hughes's name by Raymond A. Cook, Attorney-in-Fact, and co-signed by a RKO Radio Pictures executive. November 25, 1959. N.p. Regarding license fees to "The Conqueror" and "Jet Pilot." Stapled, with adhesive residue along the left edge. 8.5" x 11".

The documents relating to Hughes's RKO Radio Pictures film projects "The Conqueror" and "Jet Pilot" are certainly the most interesting of the group. Hughes was an uncredited producer of the 1956 "The Conqueror," a movie co-starring John Wayne as Genghis Kahn and Susan Hayward as Bortai, his Tartar wife. This film was critically disparaged and has since been voted one of the 50 Worst Films of All Time, principally because of the egregious John Wayne miscast. A year later, Wayne and Janet Leigh starred in the Howard Hughes Presents movie "Jet Pilot," which was intended to be Hughes's Cold War/Jet Age sequel to "Hell's Angels." This was one of Hughes's favorite films, which he would watch on repeat.

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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  • Dimensions: largest: 8" x 13"
  • Medium: Archive

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Bid Increments
From: To: Increments:
$0 $99 $10
$100 $299 $20
$300 $499 $25
$500 $999 $50
$1,000 $1,999 $100
$2,000 $2,999 $200
$3,000 $4,999 $250
$5,000 $9,999 $500
$10,000 $19,999 $1,000
$20,000 $49,999 $2,500
$50,000 + $5,000