[LB040134], Letter from Thomas Alva Edison to Samuel Insull, April 22nd, 1890
https://edisondigital.rutgers.edu/document/LB040134
Transcription
April 22, 90 Samuel Insull, Esq., #44 Wall Street, New York City Dear Sir:- I beg to advise you that the Edison Toy Phonograph Manufacturing Company has a representative in Europe, who is arranging for the sale of the toy phonograph rights for Great Britain, Continental Europe, and the Channel Islands. It is necessary that this sale should be made free of royalties, and that the manufacturing rights should be sold to the proposed European Company. A proposition has been made to the Toy Phonograph Co. of Boston for the formation of a Company in Europe, with a capital not to exceed Three Hundred Thousand Pounds in cash. The Boston Company has to pay a commission of 10% of the stock and cash which it receives to its representative who is making the sale. In regard to the division of the net amount of cash and stock received by the Boston Company, they are willing to pay ir-two per centum of the same in liquidation of my rights to royalty and for the purchase of the rights to manufacture and sell toy phono- graph movements in Great Britain, Continental Europe, and the Channel Islands only. I consider this a very fair division, and it now remains for the Edison Phonograph Works and myself to determine in what proportion those proceeds should be divided between them and myself, they representing manufacture and I representing royalties. I consider that a fair division would be seventy-five per centum to myself, and twenty-five per centum to the Edison Phonograph Works. Yours very truly, Thomas A. Edison