[MU020], Letter from Francis Robbins Upton to Elijah Wood Upton, June 29th, 1879
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Title
[MU020], Letter from Francis Robbins Upton to Elijah Wood Upton, June 29th, 1879
Editor's Notes
I do not understand why you should object to my taking the share I thought of taking in the Electric Light. I have not had a good chance to talk alone iwth Mr. Edison during the past week so have not said anything more about the matter. I only risk my pay if I acept his tuerms to take a share, for he will only put my name on the agreement he has with the Electirc Light Co. and give me some shares of the stock. The market value of the stock will be more than my salary for eight years and the light will be a success or failure long before that time. If I take the share, it is only in hte profits which will be very larege in case of success, $30,000 a year garanteed royalty. Then Mr. Edison will have probably over a $100,000 advance royalty from his English patents coming to him in the course of a few weeks, nd this sum will be largely expended in building here, which will be used for expeimenting on the light. During the past two weeks he has perfected his new receiver so that it is a most valuable instruments. 5% on that would bring $5,000 in one payment for England. He was unfortunate in selling his rights in America at a low figure to the WEstern Union, he only gets $9,000 a year for his telephone patent which is worth ten times that. I had a letter from Lizzie dated Berlin June 11, the day of the Emperors golden wedding. She was stopping with the same family where Curt and I roomed during our stay.
Author
Recipient
Mentioned
Date
1879-06-29
Type
Folder/Volume ID
MU02-F
Microfilm ID
95:541
Document ID
MU020
Publisher
Thomas A. Edison Papers, School of Arts and Sciences, Rutgers University