[LB022309], Letter from Samuel Insull to New York Life Insurance Co, August 9th, 1886
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Title
[LB022309], Letter from Samuel Insull to New York Life Insurance Co, August 9th, 1886
Editor's Notes
I enclose you herewith the formal application of The Edison Machine works for a loan of $45,000. on their property at Schenectady. The buildings now erected on the property are those marked "Machine Shops and Erecting Floor" (122 ft. x 308 ft.) and "Boiler Shop, Blacksmiths Shop, Paint and Finishing Shop" 402 ft. x 72 ft. ## With relation to the question on the "Application Form" unanswered I would state that I do not know the value of the Land as we have never had any appraisement made of same. The Edison Machine Works purchased the land and shops as they now stand. ## It is the intention of The Edison Machine Works to occupy the property for the purposes of their business which is the manufacture of machinery and underground cables for the Edison Electric Light Company and also other electrical and general machinery. As their business is very rapidly increasing they will be compelled to add largely to the two buildings now on the property and I may mention that they had this object in view in making the purchase. Their business is very large and they have constantly from $150,000. to $200,000. of work under order in process of construction. ## Their assets over and above all liabilities on January 1st were upwards of $400,000. The Corporate Bond of the Edison Machine Works will be supplemented by the personal Bond of Mr. Thomas A. Edison, who is the President and largest stockholder of the Company. ## In addition to the plan and the application I enclose you the abstract of the title of the Property recently made for the Edison Machine Works by Messrs Harris & Rudd of Albany.
Author
Recipient
Mentioned
Date
1886-08-09
Type
Folder/Volume ID
LB022-F
Microfilm ID
83:702
Document ID
LB022309
Publisher
Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University