The Auction at Graceland•Elvis Week•August 13, 2019
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This lot is closed for bidding. Bidding ended on 8/13/2019

It is often argued that Colonel Parker took a lion’s share of the monies made from the mega-star he managed for decades. Offered is an historic document that attests to the fact that very early on in Elvis’ career under the Colonel’s management, a large share of 25% of songwriter royalties was assigned to Colonel Parker. This single-page, typed document dated October 24,1956 and signed by both Elvis Presley and Colonel Parker is addressed to Colonel Thomas A. Parker and Elvis Presley Music, Inc.; Hill and Range Songs, Inc.; Ross Jungnickel, Inc.; and all of their associated, affiliated and subsidiary corporations. It transfers in detail this quarter share to Colonel Parker. The letter states:

In consideration of the sun of One Dollar and other good and valuable consideration, in hand paid to the undersigned, receipt of which is hereby acknowledged by him, the undersigned does hereby: (a). The undersigned, ELVIS PRESLEY, hereby irrevocably assigns, transfers, sets over and delivers unto COLONEL THOMAS A. PARKER, his heirs, executors, administrators and assigns, (i) twenty-five (25%) per cent of all songwriter royalties and all other payments (other than expenses and salaries payable by ELVIS PRESLEY MUSIC, INC.) which are now payable and which may hereafter be and become payable to ELVIS PRESLEY under and by virtue of any of the terms and provisions of that certain agreement dated November 21, 1955 between ELVIS PRESLEY, VERNON PRESLEY, MRS. VERNON PRESLEY and HILL AND RANGE SONGS, INC.; and such share of such songwriter royalties and all other payments is hereby so assigned and transferred for so long as any such songwriter royalties and other payments shall be payable to ELVIS PRESLEY under and by virtue of the terms and provisions of said agreement and all renewals, extensions, modifications and replacements thereof; and (ii) twenty-five (25%) per cent of all dividends which may be now payable and which may hereafter be and become payable to ELVIS PRESLEY as a stockholder of ELVIS PRESLEY MUSIC, INC.; and (b) the undersigned, ELVIS PRESLEY, hereby irrevocably authorizes and instructs all of the corporations listed and referred to above, to divide and to pay all of the aforementioned songwriter royalties and other payments (other than expenses and salaries payable by ELVIS PRESLEY MUSIC, INC.) and all of the aforementioned dividends in the following manner: seventy-five (75%) per cent thereof directly to and in the name of ELVIS PRESLEY and the other twenty-five (25%) per cent thereof directly to and in the name of COLONEL THOMAS A. PARKER.

A similar agreement with the exact same terms was made just under a month later with only minor differences, including Gladys Music, Inc. listed instead of Elvis Presley Music, Inc. Both Elvis and Colonel have signed in blue ink at the bottom.

With Elvis’ music career bursting into bloom and his first film about to be released in theaters, Elvis was already making it big and with this success came financial reward. This incredible document awarding Colonel Parker a large percentage of Elvis’ future royalties and dividends cements the arrangement and provides fodder for the theory that Colonel Parker received a major share, perhaps more than necessary, of a large part of Elvis’ compensation. The onionskin agreement measures 13 by 8 1/2 inches (33.02 x 21.59 cm) and is accompanied by a letter of authenticity from Graceland Authenticated.



The agreement suffers from creases from folding and moderate wrinkling. Excellent to Mint condition.
Elvis Presley Signed October 24, 1956, Agreement Granting Colonel Tom Parker 25% of Elvis’ Songwriter Royalties
Bidding
Current Bidding (Reserve Has Been Met)
Minimum Bid: $5,000.00
Final prices include buyers premium.: $9,375.00
Estimate: $10,000 - $20,000
Number Bids: 7
Auction closed on Tuesday, August 13, 2019.
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