The Thomas A. Edison Papers Digital Edition

Transcription

Rough Draft Drawn by Edison 
This agreement entered into this day of March 1899 by and between Thomas A. Edison party of first part and of Philadelphia Penn parties of the second part witnessed. 
Whereas the party of the first part is now experimenting on the following inventions and improvements to wit:- 
Improvements in the Reheating of Compressed air and its application to power vehicles and other applications of compressed air. 
Second:- Improvements in a process for grinding and screening coal and applying the coal dust for fuel for Steam Boilers and in Metallurgical process. 
Third:- A process for crushing sizing and concentrating of coal to eliminate the impurities therein, contained and whereas the parties of the second part are desirous of acquiring an interest in said inventions. Therefore be it agreed that for and in consideration of the sum of Seventy five thousand dollars to be paid the said Edison of which Twenty five thousand dollars is to be paid upon the signing of this contract and the balance equally thirty and sixty days thereafter and for a further consideration of fifteen thousand dollars to be used for experimental purpose in the development of the aforesaid inventions which is to be paid as called for by said Edison. The said Edison hereby transfers one quarter of all his right title and interest in the United States patents which may be obtained on the process for crushing, screening coal to dust and burning same of which the said Edison will be the sole owner and a liaison covering use for this purpose (use for Cement being excepted) under application for patent filed March 17, 1899 serial number 709447 covering process and apparatus for screening and sizing fine material:- one quarter of his interest in the United States patents which may be obtained on the process of crushing, screening and beneficiation of coal by elimination of impurities of which the said Edison will be sole owner and a license for the above purpose under application for patent filed March 17-1899 serial number 709447 as aforesaid and one quarter of all his right, title and interests in the improvements in the Reheating of Compressed Air in the United States and foreign countries for which application for patent in the United States was filed Feby 27-1899 serial number 706976 covering method of and apparatus for reheating compressed air for industrial purposes and application for patents made in the following foreign countries, Great Britain, France, Germany, Hungary, Sweden, Denmark, Spain, Victoria, New South Wales, Canada, Austria, Russia, Belgium and Italy of which the said Edison is sole owner in all the countries enumerated, but it is understood that an agreement is about to be made in respect to the United States and English patents for the Reheater by which a transfer of the rights under such application in the United States and England only is to be made to a Company to be known, as the Edison, Saunders Compressed Air Co., a copy of the proposed agreement is hereto annexed, one quarter of the Stock received by Edison under such agreement will belong and be transferred to the parties of the second part. Edison will sign from time to time all necessary papers to vest in said parties of the second part all improvements made by him arising from the expenditure of the said fifteen thousand dollars. Thereafter if further experiments are necessary the expense shall be bourne by each party in proportion to their interest.