[D9046AAH], Agreement, Edison Ore Milling Co Ltd, Walter Seeley Mallory, July 25th, 1888

Item

Abstract

Preliminary Agreement between “The Edison Ore Milling Company of New York and Walter S. Mallory of Chicago, Illinois”. Brief of term of a final contract. ## First, Mallory to form a Company with a capital of $200.000.00, - - Stock assessable, - - to be called “The Edison Iron Concentrating Co.” with General Office at Chicago, Illinois. ## Second, The Edison Ore Milling Company to license under its patents the said Company to use all its patents, devices and appliances in the States of Michigan, Wisconsin, and Minnesota on the following terms: - - The Edison Ore Milling Co. to receive a royalty of 15 (15) cents on each ton of 2240 lbs. of saleable ore concentrated by its magnetic separator in such states, whether the Company be formed by Mallory operate the machine themselves or lease or sell the machine, and any contract for lease or sale must be submitted to the Edison Ore Milling Company for and must receive its approval to the end that it may see that such contract for sale or lease sufficiently secures its said royalty of Fifteen (15) cents per ton. ## The Mallory Company are not to operate in any other than the States mentioned or sell or lease machines to be used in any other states than those mentioned. ## Such Mallory Company agrees to put up within six (6) months from data one complete plant capable of crushing and concentrating one hundred and fifty tons (150) daily of twenty four (24) hours of crude ore and to diligently prosecute the business of installing other plants and operating or causing the same to be operated. ## Royalties are to be payable quarterly ten days after being due, and sworn statements of the number of tons concentrated are to be made and access given to the books of said Mallory Company. to any officer or agent of the Edison Ore Milling Co. ## The license is to be exclusive only on the following conditions, the failure of such conditions at any time destroys the exclusiveness. ## That tie output of saleable ore in the last month of the first six months (i.e) January 1889. shall not be less than Seventy eight Hundred (7800) tons of saleable ore, and for the last month of the second six months, the month of July, 1889, shall not be less than Twenty thousand eight hundred (20800) tons of saleable ore, and the total output for the next year (i.e) from July 1889 to July 1890 shall not be less than Four hundred and sixty eight thousand (468000) tons of saleable ore, and for the next year (i.e) from July 1890 to July 1891 shall not be less than Six hundred and twenty four thousand (624000) tons of saleable ore, if these conditions are fulfilled at this date the license is continued thereafter exclusive provided the output does not diminish below Six hundred thousand (600.000) tons saleable ore annually, unless such output will not net the Mallory Company a profit. ## The Edison Ore Milling Co. agree to furnish an expert for sixty days, the Mallory Company only paying travelling expenses and board. ## The machinery is only to be used for concentrating iron ore and for no other purpose.

Date

1888-07-25

Decade

1880-1889

Type

Identifier

D9046AAH

Folder Set

D9046

Title

[D9046AAH], Agreement, Edison Ore Milling Co Ltd, Walter Seeley Mallory, July 25th, 1888

Microfilm ID

129:781

Publisher

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

Item sets