[LM001090A], Telegram from Charles Batchelor, Grosvenor Porter Lowrey to Thomas Alva Edison, November 5th, 1881

https://edisondigital.rutgers.edu/document/LM001090A

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Title

[LM001090A], Telegram from Charles Batchelor, Grosvenor Porter Lowrey to Thomas Alva Edison, November 5th, 1881

Editor's Notes

Legal considerations compel modifications plan originally cabled abandoning syndicate and creating three companies first manufacturing company capital one million five hundred thousand francs profits to be divided half to us half to capital second or exploitation company capital one million seventy two per cent profits to us. Third a small plant company capital one million fifty per centum profits to us those proportions of profits secured to us in all future increases of capital by funders shares which are an approved form of security decidedly recommended by our French counsel property of patents for light and power belong to exploitation company but remain in you for all other uses expenses this contract as well as of all legal proceedings to be paid here we reserve absolute right to veto without condition or penalty sites or licenses of any entire country Also right to reject any contract for a town or district with obligation to make a better within three months under penalty of five percentum on contract subsequently made for that place. Minimum capital any city or district two million francs for every hundred thousand inhabitants forty five percentum of which comes to exploitation company contract provides organization companies within six weeks but Leon assures us capital will be ready for business on lighting contract exploitation and isolated capital to be repaid out of profits before dividends manufacturing capital by 10 percent yearly on profits shall we approve contract on these principles if minor provisions are satisfactory to us we advise acceptance

Date

1881-11-05

Decade

1880-1889

Type

Folder/Volume ID

LM001-F

Microfilm ID

83:917

Document ID

LM001090A

Publisher

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