[D9211AKA], Letter from Alfred Ord Tate to Richard Nott Dyer, December 14th, 1892
https://edisondigital.rutgers.edu/document/D9211AKA
Transcription
Dec. 14. 1892. Richard N. Dyer, Esq., No. 52 Prospect St., East Orange, N. J. My dear Mr. Dyer,- I enclose herewith a copy of an agreement which is being made between some people in England and the Edison United Phonograph Company, together with draft of an agreement between the Edison United Phonograph Co. and others and the Edison Phonograph Works. Under certain other agreement executed in March, 1890, the Edison Phonograph Works possess the manufacturing rights and phonographs and supplies throughout the whole world. The English Company or Syndicate, as you will observe, are given the given the right to manufacture in the agreement herewith. It therefore becomes necessary for the Edison United Phonograph Co. to obtain these rights from the Edison Phonograph Works in order that they may transfer them. They have agreed to give the Works twenty-two and a half per cent of the purchase price received by them for St. Britain. You will find the terms of purchase stated in the contract, and referring to the amount of twenty-three thousand pounds which is to be paid to the United Company out of the first proceeds from nickel-slot machines. Would the Works under the agreement, draft of which is enclosed, be entitled to receive twenty-two and one-half per cent of this amount, or would their interest be limited to 22 ½% of the Forty thousand pounds and a like interest in common shares? My understanding is that 23,000 pounds is a part of the purchase price. You will find some by Mr. Edison, in red pencil in the draft. I want to know if under the second clause the United Company could decline to allow the Works to participate in the 23,000 pounds named. Will you kindly give this matter your immediate attention. I expect that s board meeting will be called to-morrow or next day at which both of these agreements will be presented for execution and we want your advice before hand. Yours very truly, Private Secretary.