[D9242AAI], Minutes, North American Phonograph Co, May 6th, 1892
https://edisondigital.rutgers.edu/document/D9242AAI
Transcription
indebtedness of company on revision of Thomas seconded by Nolans. Resolved that Directors + Offices directed to adjust, compromise and settle:
E.P. Wks claims of $290273.30 for 146000
Edison Lab. 222423
46378.76 68598.29
Edison by note with interest at 6% payable 10 days after demand secured by E.P. Co Stock including Hemmenway + to execute agreements
78518.37
Hemmenway stock 22500
Charge Lippincott on notes 78518.37
To issue 300 Debenture
Bonds $1000 each Due May 1, 1912 300,000
Interest 6% payable same
Annually May 1st Nov 1st
May be redeemed as per on May 1/94 During each year after May 1/95 to redeem 20 bonds
Board + Officers under same resolution to deliver to
Edison Laboratory in Bonds 790000
for its claims 68598.29
+ two notes 10653.33
79251.62
Cash 251.62
Edison phono works in bonds 146000
to settle indebtedness herin before provided to be placed to its credit Thomas R. Lombard in Bonds 10000 Person holding 150 shares of E.P. Co Stock known as Hemmenway stock-Bonds 22000
Cash $500
Lippincott in Bonds 43000
to liquidate a like amount of the balance due him
after distributing the $78518.37
and in cash 146.18
On stock vote called for resulted as follows:
Total vote cash 44384
In favor 44279
Against ([illegible]) 105
Meeting adjourned to May 13.92 for consideration of matters not already disposed of + that statement be present as that time of Lippincott's account of examination of stockholders