[LB049041], Letter from Alfred Ord Tate to Samuel Insull, April 18th, 1891


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[LB049041], Letter from Alfred Ord Tate to Samuel Insull, April 18th, 1891





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


April 18, 1891.
Samuel Insull, Esq.,
P.O. Box 3067,
New York City.
Dear Sir:-
Replying to your letter of 15th instant, I beg to say that at the time the Toy Phonograph Co. was considering the sale of the foreign license, the price that they were to charge was restricted by Mr. Edison under a clause in the contract giving him the right to limit the same to three hundred thousand pounds ($300,000). I have no memoranda upon which our estimate was based, as it was simply the result of a conversation between Mr. Edison and myself, which I hastened to embody in a letter to Mr. Stevens before any action was taken by the Toy Company’s agent abroad, in order that our views might be thoroughly understood before they committed themselves in any way. The 3% claimed by Mr. Edison and admitted by the Toy Company, we proposed dividing four-fifths of the same to Mr. Edison, representing commutation of royalty, and one-fifth to the Edison Phonograph Works. Representing commutation of manufacturing profit.
Yours very truly,
(Signed A.O. Tate)
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