[D8832AAO], Memorandum, Thomas Alva Edison, December 1888

Item

Abstract

"Memorandum of terms for Consolidation of the Edison Light Company, and the three Manufacturing Establishments agreed upon by Mr. Ediosn and Mr. Villard.##Edison Electric Light Co. to receive##8% Preferred Stock $2,625,000##Deferred Stock (25% of total Stock rec'd by them). 875,000##$3,500,000##Shops to receive $1,166,667, Cash, and Stock as follows: ##8% Preferred $1,458,333##Deferred Stock (25% of the total Stock rec'd. by them). 875,000##$2,333,333.##Cash to be subscribed at par by Syndicate $1,750,000 $1,750,000.##Stock to be allotted to Syndicate 500,000## $8,083,333##Total Preferred Stock $6,333,333.##The tock and Cash coming to the Shops to be allotted as follows:##Henry Villard (5% Com.) $175,000##The Edison Machine Works 1,400,000.##Edison Lamp Co. 1,025,000. ##Bergmann & Co. 900,000##$3,500,000.##The Light Company to receive Trust Certificates to represent 50% of Stocks of Local Companies received by the New Company up to the amount of $500,000.##If the New Company decided to issue further stock to raise money within two years, Syndicate to have the right to take Stock at par up to the amount of $3,000,000.##After the present deal is completed, Mr. Edison to be relieved from present Lamp Co. contract and he is then to enter into a five years' Contract as to future Electric Light inventions in consideration of his receiving one-fifth of the savings or benefits obtained by the New Company from such inventions."

Date

1888-12-00

Decade

1880-1889

Type

Identifier

D8832AAO

Folder Set

D8832

Title

[D8832AAO], Memorandum, Thomas Alva Edison, December 1888

Microfilm ID

123:289

Publisher

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