[LB056508], Letter from Alfred Ord Tate to John W Fortune, May 18th, 1892


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[LB056508], Letter from Alfred Ord Tate to John W Fortune, May 18th, 1892





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


May 18, 1892
J.W. Fortune, Esq.,
Chicago and Grand Trunk R’y.,
Detroit Michigan,
My dear Sir:-
I have your letter of 11th instant re Edison Gen’l stock. I am the worst man in the world to apply to for information concerning the purchase of stocks. In fact, I am such a Jona that I have sworn off. I think it altogether probable that the Edison Gen’l. stock will advance beyond the price at which it is now selling, but please do not accept my judgment. I presume you have observed the personnel of the new board of directors of the Edison General Electric Company, which is the corporation that will eventually absorb the Edison and Thomson-Houston interests. I think it the strongest board that I have ever seen announced. Whether this amounts to anything or not you yourself can determine. You understand that the capital of the new corporation is fifty millions of dollars. An industrial sock of this character is expected to pay % to be worth par. That means net earnings applicable to dividends of four millions of dollars per year, or nearly $11,000 per day. Should you venture anything you have my sincere wishes for success.
Yours very truly,
A.O. Tate
Private Secretary
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