[D8523ZBR], Letter from Phillips B Shaw to Samuel Insull, September 9th, 1885


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[D8523ZBR], Letter from Phillips B Shaw to Samuel Insull, September 9th, 1885

Editor's Notes

At a meeting of the Directors of the Sunbury Co. last night, your proposal of settlement (dated Oct. 11, 1884 and referred to in your Memo to me of Sept. 4, 1885, stating that you claim is $2400, that you will deduct $750, and accept as payment half cash and half Stock) was considered. After reading the reports of the President and Secretary as to liabilities and assets of the Co. (a copy of which I enclose) [D8523ZBS], the Board directed the payment of your claim ($2400, less $750, leaving a balance of $1650) in Stock. "You will see by the enclosed statement that to pay any portion of the claim in cash would be impossible with the present Co., and to pay in stock they are compelled to borrow $400, as they only have $1250 of unissued stock in the treasury." The Bill of the A.B. & C. Co.[?] is in the hands of Sunbury attorneys for collection, and is held out of courtesy pending negotiation of settlement. At about 10:00 last night, the lights all went dead out, but came up again in about 10 minutes. I did not learn the cause of it, but it was raining and I suspect a short circuit. Let me know if this is satisfactory.





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