[HX88035A], Memorandum, Jesse H Lippincott, June 1st, 1888

Item

Abstract

Summary: This is a typed memorandum of Lippincott's in list form, dated June 1st 1888 1. Buy all stock of Edison Phonograph co. & Edison Speaking CO. for $500,000 2. Edison to reserve 133,000 to buy out speaking Phono Co. 3. Edison to have manufacturing at cost & 20% 4. Instrument to be called Phonograph or Edison Phonograph & best instrument to be put on the market. 5. Edison to be paid royalty of 5% on price to Company for 15 years & to assign new inventions to Co. for 15 years. 6. New Company to be formed which shall buy up all it considers of value, The company to be called U.S Phonograph company. Its capital stock to be not less than $3,000,000 nor more than $5,000,000. 7. Persons to be connected with Co. Lippincott, Robinson, Whitney &c. 8. Gill contract to be bought for $250,000. worth of stock of new Company, value of stock to be based on price at which sales are made to original promoters. $50,000 of 250,000 to be paid in cash & Co. to agree to buy balance 4 mo from completion of agreement at $200,000 cash. All present and future patents of Gilliland to go in. 9. Definite answer within 15 days. Affair to be consummated before Aug. 1st 88.

Date

1888-06-01

Decade

1880-1889

Type

Identifier

HX88035A

Folder Set

HX88

Title

[HX88035A], Memorandum, Jesse H Lippincott, June 1st, 1888

Microfilm ID

145:261

Publisher

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