[LB034348], Letter from David M Yeomans to Edison Phonograph Toy Manufacturing Co, November 26th, 1889
https://edisondigital.rutgers.edu/document/LB034348
→ View document with UniversalViewer
→ View document on Archive.org
→ Re-use this digital object via a IIIF manifest
Title
[LB034348], Letter from David M Yeomans to Edison Phonograph Toy Manufacturing Co, November 26th, 1889
Editor's Notes
Referring to the several conversations I have had with your Officers and Directors, I now beg to confirm my proposition and understanding relative to the sale of your Patents for Great Britain, the Channel Islands, and Continental Europe. ### Your Company is to supply me with a perfect outfit of Sample Dolls [unclear] working with a spring and those working with a crank. ### With copies of your English and Continental Patents. ### With the original, or certified copy of what is termed the "French Contracts." ### With a certified copy of a resolution passed by your Board of Directors, authorizing and empowering me to dispose of your Patents and interests as above referred to, upon the following terms and conditions, viz:-- ### To create, or cuase to be executed a Limited Joint Stock Company, with a capital not exceeding three hundred Thousand Pounds Sterling ( 300,000). To dispose of such interests in [unclear] Company by the sale of shares or [unclear] as shall return to your Company a sum of not less than [unclear] Hundred Thousand Pounds Sterling ( 100,000) in cash, and twelve and one half per cent. of fully paid shares in the Foreign Company so formed. ### Your Company to pay one-half of my expenses from the time of leaving New York to a completion of the sale of such Patents or an abandonment of the same. Such expenses, however, not to exceed a total of One Thousand Pounds. ### Your Company to advance me for and on account of such expenses the sum of Two Hundred and Fifty Pounds ( 250) on or before the Sixth (6th) day of December next. ### In case of my success, and upon completion of a slae upon the terms above mentioned your Company shall pay to me or my order, Ten Thousand Pounds Sterling, less the amount you have actually paid at the time for and on account of my expenses. In case your Company should accept any lesser amount in cash and a greater amount in shares, then the sum payable to me shall be ten per cent. of the cash and ten per cent of the shares so accepted and received by you always deducting from cash received the amount you have at the time addressed for expenses. ### For and in consideration of the above, I agree to use my time, best endeavors, financial connection and influence to carry out the terms stipulated; also to pay one-half of the expenses as above mentioned, such expenses, however, as before stated not to exceed a total of One Thousand Pounds ( 1,000). ### In case of my failure to carry out this [unclear] and business upon the above terms, or other terms that may be hereafter agreed upon, an abandonment of my attempts either by my own desire or at the request of your Company, then and in such event or events, neither party shall have any claim upon the other, but all engagements shall cease and be determined as though never having been entered into. Yours very truly, D. M. Yeomans.
Author
Recipient
Date
1889-11-26
Type
Subject
Folder/Volume ID
LB034-F
Microfilm ID
139:1030
Document ID
LB034348
Publisher
Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University