[D8150ZBA], Letter from George Edward Gouraud to Thomas Alva Edison, November 10th, 1881

Item

Abstract

Matters between Oriental Co and vendors have gotten sticky since my last letter on this subject. Enumerates causes of problems, including signing of docs not being simultaneous with payment; Bell lapsed pat; LeGendre/Hong Kong mess. Says Co has been delaying final settlement with vendors. Arbitration fell through (Co's fault). Had to threaten Co. with immediate court action to get them to move towards settlement but special meeting yesterday at Pender's resulted in terms of settlement, about which I cabled you. Describes this meeting. Directors want to reduce cash and share to vendors. This went nowhere, so Gouraud offers to purchse Co's interests in HK, China, Greece, Turkey because these are where the complications lie. But counsel rejected this so in the end compromise reached to reduce price to vendors by 10,000 pounds cash and 25,000 pounds shares, pending shareholder ratification.

Date

1881-11-10

Decade

1880-1889

Type

Identifier

D8150ZBA

Folder Set

D8150

Title

[D8150ZBA], Letter from George Edward Gouraud to Thomas Alva Edison, November 10th, 1881

Microfilm ID

59:1071

Publisher

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

Timestamp

November 10, 1881