[D8435ZAH], Memorandum, Sherburne Blake Eaton, May 21st, 1884
https://edisondigital.rutgers.edu/document/D8435ZAH
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Title
[D8435ZAH], Memorandum, Sherburne Blake Eaton, May 21st, 1884
Editor's Notes
Eaton's memo is a summary of D8435R (April 9, 1884) with commentary that points up vagaries in Stewart’s language, and compares Stewart’s proposal with provisions in the Ovalli contract. . Some complaints include "I cannot reconcile the paying of the dividend with the provision for raising money to make up the deficiency. It is not clear to me. For example, it’s unclear to Eaton whether the new company will be Santiago alone, or the whole of Chile except Santiago "which was the Ovalli Contract." [ (or Oralle?) "My guess is that it means the whole of Chile, including Santiago and everything." ## Also "The terms to be paid us by said large company are no so good as the Ovalli contract.” Followed by details. (p3) Unclear, too, how Kendall figures in the deal. “I judge from Stewart’s letter that he is to pay 6% interest as rent upon the cost of the central station in Santiago ($94,000); and that that is to go into running expenses. Also that the stockholders themselves will pay Kendall 6% interest upon such other sums as my be due his firm; also that the stockholders will receive shares in the new company in return for their present holdings. It is not clear how the stcoholders are to be repaid the money they advance to pay this 6% interst, nor how Kendall & Co. are finally to be settled with.” Concludes "It seems to me that the plan is not sufficiently definite for us to commit ourselves by cable." Suggests copy of Eaton’s memo be sent to Stewart, wait for Stewart’s reply, then decide. See also D8435ZBM
Author
Mentioned
Date
1884-05-21
Type
Subject
Folder/Volume ID
D8435-F
Microfilm ID
73:931
Document ID
D8435ZAH
Publisher
Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University