[CE89073], Letter from Louis Rau to Thomas Alva Edison, May 13th, 1889

Item

Abstract

In French, translation follows] Translation Paris, May 13, 1889. Thom. Alva Edison, Sir:- We hasten to inform you that at a meeting held the day before yesterday, our Counsel of Administration has decided to open a Social Assembly at 8 Rue Caumartin, Paris, from the 21st to the 31st of May, 1889, inclusive, the subscription on to the 6,000 new shares put into execution on the deliberation of the Assembly General at the Extraordinary Meeting on the 16th April last, by the terms of which Counsel of Administration has been authorized to raise the social capital from 7 millions to 10 millions. This particular distribution will raise the capital to ten millions of francs. The new shares will have the right upon the proceeds of the income for 1889, at an interest of 4% per annum upon the sums expended to the Slot December 1889, and will participate from the 1st January, 1890 in all the social proceeds. by each new share of 500 francs, it will be necessary to expend 200 francs at the time of subscription. The calls upon the two remaining quarters of 120 francs will be fixed by the Counsel of Administration between this and the 31st Dec., 1809, after giving notice of one month. In accordance with the terms of Article 8 of the Statutes, the right of preference is reserved for this subscription, namely 20% of the particular, subscribers who constituted the primitive capital of the three ancient Edison Companies, Continentals Electrique, and The Industrial and The Commerciale, to-day amalgamated into one, and this in the proportion of their subscription. 10% to the bearers of the 14,000 shares of founders shares, either in proportion to the three new shares at the rate of 70 founders' shares, and 50% of the actual proprietors of the shares,- that is to say, in proportion of three new shares to 14 old ones. Those who should have had right to a fraction of a share will he able to reunite for the purpose of exercising their right by one between them. We have the honor to remind you that notably as a bearer of 1600 founders' shares with the Edison Electric Light Co. of Europe. You have the right of preference to the extent of 68.1/2% shares. The rights of preference being burred by limitation, after the delay here mentioned, we beg you to be so good as to let us know by telegram if yen desire to exercise the rights of preference above mentioned, and in what proportion, or all others that you could have for the present subscription, which will be closed on the 31st of May. There will be sent you by the next post the bulletins that you will be so good as to return to us and so filled up in the case of the subscription for drawing up. Yours truly, (Signed) Compagnie Continentals Edison.

Author

Date

1889-05-13

Decade

1880-1889

Type

Identifier

CE89073

Folder Set

CE89

Title

[CE89073], Letter from Louis Rau to Thomas Alva Edison, May 13th, 1889

Microfilm ID

158:467

Publisher

Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University