[D8848AFM], Letter from Thomas Alva Edison to Gardiner Greene Hubbard, 1888

Item

Abstract

"The further fact that I have already executed 16000 in further experimenting also the fact that I have raised the funds to put in operation a good special factory and guarantees of further money to manufacture to any amount, the fact that I have arranged that new Co. shall take no risk shall have no expenses, that the patents are risky that competition is going to be sharp I have got things down on a fighting basis and that I am going to see the thing through myself that the old holders of stock get 400,000 that of the 800,000 left I have to part with 210,000 to associates and men who have worked hard and are to work hard for some time without compensation. Also to the fact that instead of adding about 12.00 royalty to the present [unclear] I get less than 2.00 [unclear] that the money in the factory will only a moderate divident, that I commute my nearly all the royatly for stock, that both clocks and toys which the old Co. did not have are included and an active organization is already at work with a good talking doll and guaranteeing 10,000 year minimum royally all of which goes to Co. All this I submit is fair and just, and if you will investigate it further I am sure you will come to the same conclusion, the 15 per cent royally is on the Cost price not the selling price as Mr. Painter probably tries to make you think. I have carefully considered my proposition to the stockholders of the old Co. and have consulted with many disinterested persons as to the fairness taking all things into consideration, the amount of money paid into the Phonograph Co was the 21000 shares issued which I never could see the legality of. The release of the 50000 case that was to be put in, the failure to pay me a single dollar as royalty the fact I spent 8000 more than was ever paid me. The failure to keep up the organization" [unsigned] "phono quantities"

Date

1888-00-00

Decade

1880-1889

Type

Identifier

D8848AFM

Folder Set

D8848

Title

[D8848AFM], Letter from Thomas Alva Edison to Gardiner Greene Hubbard, 1888

Microfilm ID

124:482

Publisher

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