The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-03-14
Shares Which Fluetuated Between $40 and
$4,5OO-A Stock Which Is So Uncertain
that the Exchange Will Not Deal in 1t.
Knights Of Labor Secrets and the Con.
fessiOnal of the Catholic Church.
How Comedian Dixie Was Doomed Into Pop
ularity-Widow Stewards Theaters-
Something New in Fiction.
ELEcrR1c-LrGHr STOCK.

Stock Exchange Will Not Deal in Them.
Special to the indianapolis Journal.
NEW York, March Is The most curious ru-
mors in circles of financial investments and man
ipulation relate to Thomas A. Edison and his
electriclght company. His clear expenditure
of nigh half million for home to take his
bride to, indicates an amount of wealth not
hitherto accorded to the inventor. and out Of
that fact together with fluctuations in the stock
from forty dollars to four thousand five hundred
dollars share, wild rumors Of extraordinary f.
nancierng have grown. The unvarnished truth
concerning Edison's income and the company's
money is interesting. The history Of Edison
electric stock shows that good many in this
town. and perhaps in others, have had occasion
to look upon it as sort Of South sea bubble
Among It's original stockholders in 1879, were
such wellknown men as j. H. Banker, T. r.
Edison. r. l.. Cutting, jr., DR.. Norvin Green
and G. P. Lowery. Mr. Banker is since
dead, his end having been fastened. according to
Wall street history. by losses in Wabash. DR..
ern Union Telegraph Company. and the other
original stockholders are not pleasant parties to
interview on the subject of Edison stock. The
company started in 1879. with cash capital Of
$50, 900. This was a sort of preliminary fund to
be devoted to experimental purposes. AS the
trials progressed the capital was from time to
time increased. 1t is emphatically denied that
during this chrysalis period the stock was
watered drop, but that the cash was planked
down in every instance, except where Mr. Edison
was concerned. To him amounts were issued
FROM tiua RI tima FOR natants il, accord anca with
compacts made with him. At last the cash CAPT
tai of the company got up to $1,000 900, OF which
$40O, 900 was paid to Edison, $685. 900 remaining
in the treasury Of the company and the bal
ance has been issued in stock, the par value of
which is $780, During the early electric light
excitement the stock sold at the fabulous price
of 81, 500 share. This was followed by a vio-
lent reaction, and many who bought at those
figures afterward saw 1t drop to $40 share. 1t
is claimed that the "balloon" price of ST. 500 was
not warranted by the facts, and subsequently it
neglected to discover that the development of
the business would require more time than they
thought Electric companies became as free as
fresh air on March morning; the Edison folks
got involved in lawsuits in order to protect their
patents and the stock gradually drifted away
below par. During the last three years a new
set of stockholders have taken hold. They have
struggled with the litigation, and have succeeded
in raising the price of the stock from $40 to 5000
a share. It is now a monopoly. It's plan is to
develop electrical lighting companies throughout
the country. It encourages local men to estab-
lish companies. and takes stock In them in con-
sideration Of license to use It's patents
In this way the Edison company has
formed between thirty and forty companies in
Guiding large one in the lower part
of New York city. It holds of these local con-
Germs about 81, 600, 900 of dividend paying stock.
and has recently invested heavily in New York
Central bonds as a reserve fund It is claimed
that the Edison system is the only one that can
supply incandescent light on a large scale and in
practical way from central stations Eugene
Crowell is president, and these are directors:
Erastus Wiman, Edward A. Adams, Charles
Bachelor G. H. Coster, A. F. Higgins, II. A.
Edison, F. S. Hastings E. H. johnson, Spencer
Trask, F. r. Upton, and j. Hood Bright, most of
them sound and wealthy bankers and business
men of this city The stock is only dealt in on
the Consolidated Stock and Petroleum Exchange.
The company is continuously prosecuting suits
for infringements on its patents, and as men
toned above, constitutes a virtual monopoly;
but whether this will continue or some rival en-
terprise will beat the Edison interest in this rich
field, is q question frightening to capitalists,
in view of the tremendous fluctuations in Edison
stock, that they hesitate to buy at two hundred.
though the worth may become two thousand
within year. The chances are too blind even
for the Stock Exchange, and all propositions to
list the stock have been rejected.