[LB033420], Letter from Alfred Ord Tate to Jesse H Lippincott, November 6th, 1889


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[LB033420], Letter from Alfred Ord Tate to Jesse H Lippincott, November 6th, 1889

Editor's Notes

Replying to your letter of 1st instant, I beg to say that the amount, $22,500, named in your contract with Mr. Edison under date June 28th, 88, as having been the sum paid by Mrs. Hemenway for her stock in the Edison Phonograph Company, is incorrect, and appears as an error on the part of Mr. Tomlinson in drawing this agreement. ### Mrs. Hemenway purchased 150 shares of stock at $148 per share, a total of $22,200, which amount on the 28th day of May, 18888, was deposited in the Orange National Bank, Orange, N.J., in the name of A.O. Tate, Trustee. On the same day checks were drawn as follows:-- George Parsons Lathrop, $2,500; F.W. Toppan $2,500; W.S. Perry $300 ($5,300), which amounts represent the commissions paid on account of this transaction. At the time this stock was sold the stockholders of the Edison Phonograph Company had formed a "pool" and agreed with each other that any stock sold should be for the benefits pro rata of the various stockholders of the Company. The writer was made the Trustee of the "pool," which accounts for the above check having been deposited in his name. The balance of this money was turned over to Mr. Edison. This in reply to your letter of 1st instant. Very truly yours, AO Tate




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