[LB047142], Letter from Alfred Ord Tate to Automatic Phonograph Exhibition Co, January 29th, 1891
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Title
[LB047142], Letter from Alfred Ord Tate to Automatic Phonograph Exhibition Co, January 29th, 1891
Author
Recipient
Mentioned
Date
1891-01-29
Type
Subject
Folder/Volume ID
LB047-F
Microfilm ID
141:1024
Document ID
LB047142
Publisher
Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University
Has Version
Item sets
Transcription
January 29, 1891.
Automatic Phonograph Exhibition Co.,
#13 Park Row, New York City.,
Dear Sirs:-
On the 14th of August last Mr. Edison drew a check on Messrs. Drexel, Morgan & Co., to the order of Jesse H. Lippincott, for $3,500, which was delivered by me to Mr. Lippincott in person. This check was turned over by Mr. Lippincott to the Automatic Phonograph Exhibition Co. as a cash loan from Mr. Edison, and Mr. Edison is now credited on the books of that Company with the amount. We desire to obtain from the A. P. E. Co. an acknowledgement of this debt. Mr. Lippincott, and the Cheever-[Gilliland?] interest have also made loans to the Company, and in considering the form of acknowledgement we have to remember that these parties can demand like recognition of their claims. For this reason we do not consider it desirable to ask for a demand note, as such form of acknowledgement might be dangerous in other than Mr. Edison’s hands. A time note is open to the same objection, as it would become a demand upon maturity. What form of security would you suggest which would carry with it these objections?
Yours very truly,
A. O. Tate
Private Secretary.
Automatic Phonograph Exhibition Co.,
#13 Park Row, New York City.,
Dear Sirs:-
On the 14th of August last Mr. Edison drew a check on Messrs. Drexel, Morgan & Co., to the order of Jesse H. Lippincott, for $3,500, which was delivered by me to Mr. Lippincott in person. This check was turned over by Mr. Lippincott to the Automatic Phonograph Exhibition Co. as a cash loan from Mr. Edison, and Mr. Edison is now credited on the books of that Company with the amount. We desire to obtain from the A. P. E. Co. an acknowledgement of this debt. Mr. Lippincott, and the Cheever-[Gilliland?] interest have also made loans to the Company, and in considering the form of acknowledgement we have to remember that these parties can demand like recognition of their claims. For this reason we do not consider it desirable to ask for a demand note, as such form of acknowledgement might be dangerous in other than Mr. Edison’s hands. A time note is open to the same objection, as it would become a demand upon maturity. What form of security would you suggest which would carry with it these objections?
Yours very truly,
A. O. Tate
Private Secretary.