, 1885-06-10

Alleged aIiafortunea afthe Electric King
Sof "a Businens Man.

DuaAneas 1lnus
lcor. ttrTi~.ion News and Courier1
Although the system of lighting New
York houses with the incandoscent cleo
trio light has made great strides during
the last three years, and although We
now have only ono whole district of
nearly a square mile partially lighted
by the Edison system, it can not be said
that the business has been n BONANZA
for any n concerned, not evea Edi-
son himself. II has been kener-
ally supposed, however, that the
wizard Of Menlo park had SO
managed things as to derive
conidserablc personal profit III Of his
patents Consequently 1 was somewhat
surprise TO learn upon good authority
that Edison is nov far from a rich man,
and has very little authority even in the
company of which he is supposed to be
the head. Like all inventors he believed
that there were millions in his patents,
and although he got enough ready
money out of the company to enable
him to live comfortably he took most
Of his pay in stock.
Aow, while the Edison company has
done q tremendous amount of work in
making the lamps, laying mains, and
introducing its system, the expenses
have been enormous. 1t is a new bust
ness, and every step was more or less of
an experiment; much work had to be
done over two or three times, and
many costly blunders were made. The
result has been that the stockholders
have not seen much money in the shape
of dividends, and Edison, relying largely
upon his stock for reward, has praeti-
eally nothing. Besides, there has been
q good deal of disappointment in the
company over this state of things and
an attempt was made nearly six months
ago to turn Edison out, at least, to rem
der his position of no authority. 1t
was claimed that he was no business
man, which is probably true, and that
the company could get on better without
him, which is probably untrue. For a
time Ldison succeeded in beating his
opponents. | hear now, however, that
they are getting the upper hand, and
that Edisons voice in the management
of the concern which bears his name is
seldom heard mt u
Gut of the quadruplex apparatus for
sending four messages along one wire at
the same tile Edison made the money
with which he began his electric light
experiments. He was sufficiently well
known in 1914 to attract the attention
of capitalists to his schemes, and the
stock OF the Edison Electric Light com
pany, after the tremendous newspaper
advertising he got in 1878, rose to
fabulous prices. | remember that early
in 1873 Edison's stock was quoted at
81, 900 for each 500 share. If Edison
had mot had faith in his own
scheme, he night have sold out
then and have been a rich man to-
day. Le kept his stock, and worked
night and day in the service of the com
pany. Like most new things, there
were difficulties, DELAYS and expenses of
which nc one dreamed. IL took him a
year more than he calculated to get his
system in operation. and the cost was
double the estimates. 1t had been an
nounced that the new light would cost
far less than gas. AS n matter of fact
1t costs far more, and it was not long
after the company got its works in OPP
Grafton that the stock fell in value and
Edison found himself with a great doal
Of fame TO show for his eight years
work, but with very little money.
since the first station was opened, two
years ago this coming summer, very lit
tie money had been made, and the work
Of extending the business had been
slow. In the way Of putting in isolated
plants some money had been made, but
not BY Edison personally. of late mat
'tors-fss Q gone from bad to worse, and
l am sorry to say that the famous 1Ir-
ventor shows signs Of being bitterly
disappointed. He is no business man,
and spends more money on OK
periments than would suffice to sup
port five ordinary families; hence his
present financial depression. Fortunately
he is likely at any moment TO bring
forth something new and there are
always plenty of men ready to put
money into his schemes. He is now
living quietly in a little fat off Broad
way in Eighteenth street, for which he
pays 81, 900 a year, and working hard
at a device for telegraphing between a
moving train and stations along the
line. There is already one company
with a similar project and an apparatus
for achieving this result, but Edison
thinks he can do bett6r