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1961 Elvis Presley Signed Gladys Music, Inc., Trust Agreement
Starting Bid - $500.00, Sold For - $3,851.25
Gladys Music, Inc., Employees Pension Trust Agreement, dated June 30, 1961, signed by Elvis Presley as president of the company. Elvis has signed the agreement in blue ink, with his signature grading "9." The 42-page agreement has also been signed by Julian Aberbach, as trustee, and twice by Joachim Aberbach, once as secretary, and again as trustee. Notarized on the final page. Gladys Music, Inc., which was named after Elvis' mother, was one of a number of publishing companies owned by Elvis that were established so that he could retain the publishing rights to the songs he recorded. The Aberbach brothers owned Hill & Range Music, which was the publishing partner for many of Elvis' songs. This trust was set up to provide a tax deferred shelter for the company's employees, mainly Elvis and his partners, and to provide them with a financial nest egg during their retirement years. Unfortunately, Elvis passed away in 1977, long before he realized any returns on the trust. Elvis Presley signed legal documents are extremely rare and this is an outstanding example. The agreement (8.5 x 11 inches), printed on onion-skin, displays a few legal notations and initials on a number of the pages. It remains housed in its original legal binder, which required three notebook holes punched along the left border of each page. In Excellent condition overall. LOA from James Spence/JSA. Reserve $500. Estimate $1,000/$2,000. SOLD FOR $3,851.25
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