[D9242AAX], Letter from American Surety Co, Henry Darius Lyman to Alfred Ord Tate, November 15th, 1892
https://edisondigital.rutgers.edu/document/D9242AAX
Transcription
AMERICAN SURETY COMPANY of New York. (C O P Y) New York, November 15, 1892. Mr. A. O. Tate, Vice-President, North American Phonograph Company, 42 Broad St., New York. Dear sir:- Referring to our conversation of this date in regard to bonding agents of your company throughout the country in the sum of $1,000 each, to sell phonographs, the ownership and proprietary right in which until sold is retained by the North American Phonograph Company, I now officially confirm what I stated to you orally, that in consideration of all the bonds being placed with this Company, we will write them at the uniform rate of one percent., it is being understood that the bond is to be confined to guaranteeing the Company against loss by larceny or embezzlement of the person bonded, and nothing else. In other words there must be an appropriation of machines or moneys of your Company by the employee to his own use to constitute a claim. We also understand that you will agree to have a periodical check upon the accounts so as to know positively that the weekly reports made to your Company of machines on hand, collections, etc., are correct. To start the matter I enclose herewith twelve of our forms used for making applications, and on receipt of each application we will have certain inquires to address to you by blank in regard to the accounts of each agent, to be answered by you Company, the answers forming the basis upon which the bond is issued. Awaiting your further pleasure in this matter, (Signed) H. D. Lyman Vice- President.