The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1885-06-13
EDISON.
The Alleged Misfortunes Which Have
Overtaken the Electric King.

Overtaken the Electric King
Although the system of lighting New
York houses with the incandescent cleo
trio light has made great strides during
the last three years, and although We
now have one whole district of nearly
square mile partially lighted by the
Edison system, it can not be said that
the business has been bonanza for
any one concerned, not even Edison him.
self 1t has been generally supposed.
however, that the wizard of Menlo Park
has so managed things as to derive con-
siderable personal profit out of his pat
cnts. Consequently was somewhat
surprised to-day to learn upon good
authority that Edison is now far from
rich man, and has very little authority
even in the company of which he is sup
posed to be the head. Like all invent
ors, 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. Now,
while the Edison Company has done
tremendous amount of work in making
the lamps, laying mains, and introduce
ing its system, the expenses have been
enormous. 1t is new business, and
every step was more or less of an ex-
pertinent; much work had to be done
over two or three times, and many cost
ly 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 practically moth
ing. Besides, there has been 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 render his po-
sition 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 time Edison
succeeded in beating his opponents. /
hear now, however, that they are get
ting the upper hand, and that Edison's
voice in the management of the concern
which bears his name is seldom heard.
Out of the quadruplex apparatus for
sending four messages along one wire
at the same time Edison made the
money with which he began his electric
light experiments. He was sufficiently
well known in 1877 to attract the atten-
ton of capitalists to his schemes, and
the stock of the Edison Electric Light
Company, after the tremendous news.
paper advert sing he got in 1873, rose tC
fabulous prices remember that early
in 1879 Edison's stock was quoted al
$4,000 for each one hundred dollar
share. If Edison had not had faith in
his own scheme, he might have sold Out
then and have been rich man today.
He kept his stock, and worked nigh
and day in the service of the company
Like most new things, there were diff
iiculties, delays and expenses of which
no one dreamed. 1t took him yea.
more than he calculated to get hi
system in operation, and the cost wa
double the estimates. 1t had been an
nounced that the new light would cos
far less than gas. As a matter of fac
it costs far more, and it was not Ion,
after the company got its works in op
GRAFTON that the stock fell in value an,
Edison found himself with good dea
of fame to show for his eight years
work, but with but very little money.
Since the first station was opened
two years ago this coming summer
very little money had been made, an
the work of extending the bushes
has been slow. In the way of putin
in isolated plants some money ha
been made, but not by Edison person
ally. Of late matters have gone froI
bad to worse, and | am sorry. to sa
that the famous inventor shows sign
of being bitterly disappointed. He
no business man, and spends MOI
money on experiments than would SUI
flee to support five ordinary families
hence his present financial depression
Fortunately, he is likely at any momer
to bring forth something new, an
there are always plenty of men read
to put money into his schemes. He
now living quietly in little fiat o
Broadway in Eighteenth street, fC
which he pays thousand a year, an
, working hard at device for telegraph
I ing between a moving train and ST
tions along the line. There is alread
one company with a similar proie,
e and an apparatus for achieving this r
I suit, but Edison thinks he can do be
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