[LB009215], Letter from Samuel Insull to James Hood Wright, October 21st, 1881

Item

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Title

[LB009215], Letter from Samuel Insull to James Hood Wright, October 21st, 1881

Editor's Notes

The following is a resume of the proposed terms between Syndicate at Paris and Edison Electric Light Co of Europe.##Factory. Syndicate to subscribe [-----] ($300,000) on signing contract and to increase that amount as required European Company to hand Founder[ers] shares carrying half profits after 5% interest is paid on money subscribed Syndicate to have 25% of European Companys Founders shares. European Company name majority of Board of Directors for three years & Batchelor to have full control of factories##Isolated American [Light] [---] [---] plants sold in towns not having more than 10,000 inhabitants & on plants sold outside towns to be equally divided between Syndicate & European Coy.##Exploitation. Syndicate to furnish $2,000,000 on signing contract to be used for exploitation & defending patents. To be returned out of first profits.##Forming Companies. Syndicate to form Companies for cities or countries as may be agreed upon minimum Capital Fcs 2,000,000 ($400,000) each 100,000 inhabitants. European Coy to have 45% of capital of all companies formed. Syndicate to have 28% of proceeds received by European Co. no contract to be made without full approval European Co who are to have fifteen days to decide & three months in which to make another contract failing which they must accept Syndicates contract##Parent Coy to have one third of the Committee of management appointed by Syndicate & direct representation on Boards of all companies formed.##These are the main points of the proposal. I will see you probably Monday as to what is cabled us tomorrow

Recipient

Date

1881-10-21

Decade

1880-1889

Type

Identifier

LB009215

Folder Set

LB009-F

Microfilm ID

81:78

Publisher

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

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