The Thomas A. Edison Papers Digital Edition

Transcription

April 4, 1892.
Samuel Insull, Esq., 
New York City. 
Dear Sir, 
I am to-day in receipt through Mr. Thomas Butler the following certificates of the Capital Stock of the New Jersey and Pennsylvania Concentrating Works, viz., 
No. 539, in the name of T.A. Edison                  53 Shares 
No. 540, in the name of T.A. Edison                  16 Shares 
No. 312, in the name of W.S. Perry                    77 Shares 

                                                                           146 Shares                                          

Adding in the certificates I have already in my possession as collateral for the loan of 400 shares of Edison Gen’l. Electric Co. stock                       352 

                                                                           496                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                     

I understand from Mr. Butler that the certificate for 77 shares in the name of W.S. Perry has been loaned you merely for the purpose of enabling you to take up a balance of 75 shares on which you have the call on Mr. Batchelor; that in the course of the day or so you will deliver to me a certificate for the 76 shares made out in my name in exchange for the certificate for 77 shares. 
Confirming the arrangement I made with you verbally last week I am to purchase these 497 shares, paying therefor in the stock of the Edison General Electric Co at the rate of 123/100 shares for one of the N.J. &  
P.C. Wks., both stocks for present purposes being taken at par. The 49% shares at 123/100 will bring all shares. Deduct loaned to you………………………………….400 

                                                                                                                                                                                                                                                                Leaves……………………………….211 

I understand from Mr. Butler that you will forthwith sell these shares and that you expect the proceeds to be about $28467: that out of this amount you have to make the following payments viz, 
Chas Batchelor, 76 shares……………………………………………………………….$7,600.00 
N.J. & P.C. Wks. 53 shares $5,300.00 
N.J. & P.C. Wks. 16 shares     1,600.00 
6,900.00 
$14,500.00 
The balance   5.967.00 
You are forewith to pay over to Edison Phonograph Works on account of the Bates Manufacturing Company.		 
Mr. Butler informs me that you paid the Edison Phonograph Works on Friday last $1,000.00 and that not later than same day during the current week you will pay a further sum to make up your payments to not less than $10,000. 
I hand you herewith call option on me for 242 shares of N.J. & P.C. Wks. Stock, under the arrangement made with you last week. 
Thomas A Edison