[D9211ADA], Letter from Thomas Alva Edison to Edison Manufacturing Co, William B Stewart, September 6th, 1892
https://edisondigital.rutgers.edu/document/D9211ADA
Transcription
September 6, 1892. W. B. Stewart, Esq., Edison Manufacturing Company, #110 east 23rd St., New York City. Dear Sir:- I enclose herewith Financial Reports of the Edison Manufacturing Company from July 7thto September 1st, both inconclusive, with a summary which covers both branches of the business for the same period, and which shows the balance between Accounts Receivable and Accounts Payable. You will notice that this balance runs very irregularly, and on September 1st amounts to only $1370.04. I do not understand this at all. In a letter that you addressed to Mr. Maguire at the Laboratory on August 12th you stated that you had found there was something wrong in the system in vogue of figuring Accounts Payable. You were convinced of this by a hurried glace, so your communication alleges. One week later, that is to say on the 19th of August, you advised the Laboratory that you had investigated the matter a little and had discovered that Mr. Martin’s report was inaccurate. A period of a week ought to have furnished you with ample opportunity to make a thorough investigation of such a vitally important matter. It is evidently nearly a month since you first discovered an error in these reports but no explanation whatever has as yet been submitted. It is entirely useless to refer to errors unless you can explain them. I am not at all satisfied that the statements which are being submitted now are correct and can have no confidence in them until I receive thorough proof of their inaccuracy. I am forwarding those papers to you now, so that when I go to the New York office you can have the data in shape to submit to me. I find that the bills against the Phonograph Works for wax shipped since April last have only been received there this morning. Why were these bills not rendered regularly and at proper dates? On the 8th of August you wrote me to the effect that the Phonograph Works, according to the Manufacturing Company’s books, owed $3,000. This does not agree with the records at the Phonograph Works, which will show a credit to the Manufacturing Company of about $2,000 on the same date. Yours truly,