[D8338ZBI], Letter from Edison Electric Light Co Ltd, John Lubbock (Baron Avebury) to Thomas Alva Edison, August 16th, 1883

Item

Abstract

Yours of 24th ult to waterhouse carefully considered by our board and suggested terms also submitted to Swan Co directors. All recognize that almagamation is the only way to spread ELight in UK; "unnatural inflation of electric lighting companies 18 months ago has had a most disastrous efect upon the financial position of really sound undertakings." Please remember that central station lighting has been impossible until now but this week provisional orders have passed through Parliament for first time, authorizing breaking of the streets. "our company has obtained power to light one large and important district in the metropolis," with Swan having several smaller districts. To develop all these will require 250,000 pounds within a year. Discusses TAE's suggestion that A share have preference dividend of only 6% (instead of 7 1/2%). How about compromise at 7%? "On the question of the name both companies are prepared to recognize the force of your objection to a neutral name and the swan directors further recognize that you are entitled on every ground to claime PRIORITY. But your arguments could also be Swan's---should use both your names for the company (yours first). I've been doing most of the negotiating and have tried to get full recognition of your priority claims. Directors don't want to wait; will put question to shareholders of both cos in early Sept. Will send copy of proposed agreement by next mail.

Date

1883-08-16

Decade

1880-1889

Type

Identifier

D8338ZBI

Folder Set

D8338

Title

[D8338ZBI], Letter from Edison Electric Light Co Ltd, John Lubbock (Baron Avebury) to Thomas Alva Edison, August 16th, 1883

Microfilm ID

68:141

Publisher

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