[LB040285], Letter from Alfred Ord Tate to Benjamin F Stevens, Edison Phonograph Toy Manufacturing Co, April 30th, 1890
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Title
[LB040285], Letter from Alfred Ord Tate to Benjamin F Stevens, Edison Phonograph Toy Manufacturing Co, April 30th, 1890
Author
Mentioned
Date
1890-04-30
Type
Folder/Volume ID
LB040-F
Microfilm ID
140:1119
Document ID
LB040285
Publisher
Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University
Has Version
Item sets
Transcription
Apl 30/90
Ben F. Stevens Esq
95 Milk St
Boston Mass
My dear Mr. Stevens:
Your recent letters to Mr. Edison and myself by hand of Mr. MacIntosh have been received. The letter had a long consideration with Mr. Edison and I believe thoroughly understands his views.
Mr. Edison is quite unwilling to place with Mr. Hutchinson the power to decide upon the reliability of the persons who are to underwrite the proposed European Company, both so far as he uses the Phonograph Works are concerned as well as in the interest of the Edison Phono Toy Mfg. The request to have these names submitted is not an unusual one; on the contrary it would be very unusual not to ask it.
The inference to be drawn from Mr. Yeomans refusal to submit this list is not a pleasant one. It only serves to strengthen Mr. Edison's determination to force compliance and I think that Mr. Yeomans should be made to understand very clearly that until Mr. Edison's approval has been obtained the latter will not permit any Company to be brought out in Europe.
I went to speak very plainly on the subject but kindly bear in mind that I do not for a moment want to imply that the Board of the Boston Company would act on sanction action on the part of others contrary to Mr. Edison's wishes in a matter wherein he is so deeply interested. But it has occurred to me that Mr. Yeomans might attempt to float a Company for the purpose of taking our best interest as the Edison Phono Toy Mfg Co has in the European business, and ignore Mr. Edison. This once before was attempted in Europe but a letter from Mr. Edison to the foreign press caused the collapse of the scheme and without doubt would do so again.
There is absolutely no valid reason why Mr. Yeomans should not submit the names. The excuse he makes "that Edison might interfere" is absurd. Mr. Edison would interfere only if the people who [illegible] here unsatisfactory and in this the Boston Company would join him., as you have no more desire than me to take unnecessary or improper risk.
The only possible chance of Mr. Edison taking independent action is in case of Mr. Yeomans attempts to go ahead without the former's approval of the underwriters and I think, as I said before that Mr. Yeomans should be made to understand very clearly that it is an absolute impossibility for him to float on any Company in Europe unless this approval is first obtained.
Mr. MacIntosh is entirely in accord with Mr. Edison's views, a fact which I trust will convince you that they are not unreasonable.
I am going to try and be in Boston on Monday. Mr. MacIntosh told me he would be home by then and I should like to see you and him together.
Yours very truly,
Ben F. Stevens Esq
President
Edison Phono Toy Mfg Co
95 Milk St.
Boston Mass
Ben F. Stevens Esq
95 Milk St
Boston Mass
My dear Mr. Stevens:
Your recent letters to Mr. Edison and myself by hand of Mr. MacIntosh have been received. The letter had a long consideration with Mr. Edison and I believe thoroughly understands his views.
Mr. Edison is quite unwilling to place with Mr. Hutchinson the power to decide upon the reliability of the persons who are to underwrite the proposed European Company, both so far as he uses the Phonograph Works are concerned as well as in the interest of the Edison Phono Toy Mfg. The request to have these names submitted is not an unusual one; on the contrary it would be very unusual not to ask it.
The inference to be drawn from Mr. Yeomans refusal to submit this list is not a pleasant one. It only serves to strengthen Mr. Edison's determination to force compliance and I think that Mr. Yeomans should be made to understand very clearly that until Mr. Edison's approval has been obtained the latter will not permit any Company to be brought out in Europe.
I went to speak very plainly on the subject but kindly bear in mind that I do not for a moment want to imply that the Board of the Boston Company would act on sanction action on the part of others contrary to Mr. Edison's wishes in a matter wherein he is so deeply interested. But it has occurred to me that Mr. Yeomans might attempt to float a Company for the purpose of taking our best interest as the Edison Phono Toy Mfg Co has in the European business, and ignore Mr. Edison. This once before was attempted in Europe but a letter from Mr. Edison to the foreign press caused the collapse of the scheme and without doubt would do so again.
There is absolutely no valid reason why Mr. Yeomans should not submit the names. The excuse he makes "that Edison might interfere" is absurd. Mr. Edison would interfere only if the people who [illegible] here unsatisfactory and in this the Boston Company would join him., as you have no more desire than me to take unnecessary or improper risk.
The only possible chance of Mr. Edison taking independent action is in case of Mr. Yeomans attempts to go ahead without the former's approval of the underwriters and I think, as I said before that Mr. Yeomans should be made to understand very clearly that it is an absolute impossibility for him to float on any Company in Europe unless this approval is first obtained.
Mr. MacIntosh is entirely in accord with Mr. Edison's views, a fact which I trust will convince you that they are not unreasonable.
I am going to try and be in Boston on Monday. Mr. MacIntosh told me he would be home by then and I should like to see you and him together.
Yours very truly,
Ben F. Stevens Esq
President
Edison Phono Toy Mfg Co
95 Milk St.
Boston Mass