The Wrights were at work in 1906 developing a new engine having vertical instead of horizontal cylinders. Though they were doing no flying, brief references to them occasionally appeared in newspapers. These caught the attention of a New York businessman, U. S. Eddy, who thought the Wrights and their patents might be of interest to Charles R. Flint & Company, New York bankers and promoters. Eddy was a former partner of Flint in a shipping line and knew that they were constantly on the lookout for new inventions worthy of their consideration. Partly to do a favor for an old friend and associate, he decided to go to Dayton for a talk with the Wrights. Eddy arrived in Dayton on Thanksgiving Day and saw the Wrights the next day. They did not discuss business at this meeting. Eddy simply got acquainted with them, and satisfied himself that any statements they made about their invention could be depended upon; but he did tell them he felt sure the Flint firm would be much interested in helping them to develop the machine’s financial possibilities. The Wrights left Dayton on December 5 for New York, to attend an exhibit to be given by the newly formed Aero Club of America. Before leaving New York they went with Eddy to meet F. R. Cordley, a member of the Flint firm. At this time Flint was in Europe, but the Wrights met him in New York not long afterward. Flint was often over-enthusiastic about new projects, and Cordley was the more cautious member of the firm. His job was to hold Flint in check. But he, as well as Flint and other associates, was favorably impressed by the Wrights, and they began to talk business. On December 26, 1906, George H. Nolte, an employee of the firm, went to Dayton to work out preliminary details. At first the Flints spoke of the possibility of buying all European rights to the airplane; but the deal finally made was that the Flints should be the Wrights’ business representatives, on a twenty per cent commission basis, in all countries except the United States. A year or two later it was agreed that the Wrights should manage their own affairs also in Great Britain and its colonies. The Flints proposed that they would have the Czar of Russia, and certain other crowned heads, request private demonstrations of the flying-machine. But the Wrights were not impressed by such suggestions and in a letter to the Flints said they thought it would be better for them to “look the ground over first before making arrangements with the Czar.”