[CJ074024] Minutes, October 16th, 1889


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[CJ074024] Minutes, October 16th, 1889

Editor's Notes

Minutes of a meeting of the Board of Directors of the New Jersey and Pennsylvania Concentrating Works held at the Laboratory of Thomas A Edison, Orange, N.J. on Wednesday, the 16th October 1889 at 3 p.m.##Present:-- Thomas A. Edson, Samuel Insull, W. S. Perry, H. M. Livor, and Secretary Hutchinson.##Mr. Insull moved that an additional call of $10,000 of the Capital Stock of this Company be made at once. The motion was seconded by Mr. Livor, and carried.##Mr. Insull further moved that permission be given to the officers of the Company to call an additional $10,000 of the Capital Stock as the exigencies of the business may demand it without further authority from the Board. The motion being seconded by Mr. Perry, the question was put and the motion carried##It being stated by Mr. Livor that Mr. Edison had placed in his hands the sum of $5000 in connection with the purchase of half interest in the Gilbert Mine, and for meeting current expenses in connection with mining during his absence in Europe, and whereas Mr. Edison was willing to turn over the property to this Company together with such other rights which had existed and accruing to Mr. Edison in connection with the transaction, it was moved by Mr. Insull that Mr. Livor turn over to this Company an accounting for the $5000 above mentioned: the said sum to be credited to Mr. Edison on the books of the Company on account of instalments on Capital Stock standing on the books against Mr Edison. It being seconded by Mr. Perry, the motion was carried.##Mr. Insull moved that the leases covering what is known as the Ogden Mine property be approved by this Board. The leases were presented by Mr Livor who stated that they had been examined by the Counsel of the Company and approved. This motion was carried and instructions given to the officers of the Company to execute same.##Mr. Insull moved that the General Manager of the Company prepare plans and specifications at the earliest possible date contemplating the construction of a Concentrating Mill to be located on the Ogden property--such plans to be submitted at a subsequent meeting of the Board. The motion was carried.##It was moved by Mr. Edison that hereafter whenever a meeting of the Board of Directors of this Company is called, a meeting of stockholders be called at the same time.##Mr. Huthinson presented his resignation as Secretary of the Company to take effect on the 20th October. The resignation of Hutchinson was accepted. Mr. Perry than nominated as secretary to fill the unexpired term Mr. Thomas Butler. The motion being seconded, it was carried. There being no further business before the Board, the meeting adjourned.




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