[D8543992], Report from Edison Ore Milling Co Ltd, January 20th, 1885


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[D8543992], Report from Edison Ore Milling Co Ltd, January 20th, 1885

Editor's Notes

Annual Report of the Board of Directors to the Stockholders at the annual meeting. "Your board have to report that little has been done during the previous year;" report cites negotiations with unnamed "parties" to give exclusive rights to separator for extracting iron ore from sand; success of negotiation "probable" provided patents are secured on applications currently before the Patent Office; agreement will insure income for company. Report notes, "The financial resources of the company are still in a very bad condition. . ." TAE is owed $1650 for machinery and experiments; S.B. Eaton, general manager, is owed $1577.89 for cash advanced; $548.17 is owed for taxes; $250 is owed to Farmer's Loan and Trust Co. for acting as register of the stock. TAE has made additional cash advances. Taxes for another year, $415.68, are due as is a new annual payment to Farmer's Loan and Trust; there is no money to meet demands and no assets from which money can be realised, except 430 shares of stock. TAE's further experiments with gold and silver ores, carried on at his own expense, are noted. Board urges stockholders to raise money to support TAE's experiments; expresses "belief in the ultimate profits to be derived from the business of the company, provided Mr. Edison's experiments are continued. . ." Endorsed: Samuel Insull, R.L. Cutting, W.L. Cutting, Frank McLaughlin, R.L. Cutting Jr., W.S. Perry




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