[MU021], Letter from Francis Robbins Upton to Elijah Wood Upton, July 6th, 1879


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[MU021], Letter from Francis Robbins Upton to Elijah Wood Upton, July 6th, 1879

Editor's Notes

I have entered into the agreement I spoke of with Mr. Edison to have 5% of the profits from the light, and 5% of the stock he now holds in the electric light. I thought that as long as my pay and position would depend on the success ofthe light I might as well run a somewhat greater looking risk. As the matter is now the next time Mr. Edison goes to New York he will have transferred to my name 37 shares of Electric Light stock which has sold as high as $200 a share during the winter, as it is preferred stock free from assessments. You see I was placed in rather a peculiar position to drive a bargain. I had made up my mind to stay, even if I could get no more pay or prospects, for a year or more, for the sake of the training I get. So how could I make Mr. Edison give me fifty shares instead of 37 though perhaps I might have done so by sufficient argument. Yet as the offer came from him there did not seem much chance for argument. There is in my mind a good show for electric lighting now, and if it can be made to do what we hope to make it do, there is an enormous amount of money in it. We have now the best generator of electricity ever made and this in itself will make a business.







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