[D8149ZAC], Letter from George Edward Gouraud to Thomas Alva Edison, August 4th, 1881


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[D8149ZAC], Letter from George Edward Gouraud to Thomas Alva Edison, August 4th, 1881

Editor's Notes

[this is context for d8149ZAB] Explaining following cables. From you 1 August: "Cable total number shares obtained in settlement reversion. Too late to get European light." To you 2 August: "Your reversion two thousand eighteen less your shares trust charges 186 pounds. Your London and joint shares two hundred. Probable further reversion two hundred making oversold your account 582 delivered from mine. Before receiving above, but after sending acct statement to you, discovered 2 serious errors in your United Co. acct. Had told you shares sold for average 6 5/8 pounds (less commission) but actually sold just above 7 net, for difference of about 1,000 pounds. Other error is having sold 3,000 shares upon the (supposedly) safe estimate of Tel. Co. liquidator, but you've actually received only 2,218 and will likely get 200 more. This explains your account having been oversold; only way out is to repurchase some shares. Don't want to do this at current high price but expect they will fall after shareholders meeting and publication of (unsatisfactory) director's report. You didn't specify how many shares to sell; I did not benefit by this transaction, which has caused much trouble and a temporary loss to me for having to advance funds to cover spread. How about if we divide equally any resulting loss?




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