[D8523ZAK], Letter from Frank H McCormick to Thomas Alva Edison, April 13th, 1885


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[D8523ZAK], Letter from Frank H McCormick to Thomas Alva Edison, April 13th, 1885

Editor's Notes

I have your letter of April 9 to C.B. Story [Storey?] in answer to a proposition of his looking to a sale of Sunbury Electric Light Stock. You state that there is $2400 of stock still due you from the Company. You will remember you agreed with me in NY last October to deduct from this amount $750 for defects in the construction of the plant. As to the promoter's Stock that is due to you, the amount I agreed you should have in addition to what has already been delivered to you was $400. This is 10% of the last increase of the Capital Stock of the Company and it still remains in the hands of the New York Company. I have written them today to forward the stock to us or deliver it to you. "I would like, if possible, to get something out of this business before the bottom falls out of it entirely" and would gladly sell at 50 cents and consider myself very fortunate. "I have for some time past considered the amount I had invested in the business as lost, and anything that I can now get out of it will be as good as found." We hold the proposition of settlement made by you and which was accepted by us, and in this you agreed to take $1,050 in full of your claim against our company.




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