Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-11-24
A REAL REVOLUTION
Promised by a Newly-0rganized Elec-
trio Company in Gotham.
PATENTS THAT BEAT EDIS0N'S
Claimed BY the Promoters of the Scheme,
Who Are sanguine
THAT THEY HAVE STRUCK A BONANZA

ESPECIAL TELEGRAM TO THE DIsfArcH.l
BOSTON, Nov. pa company has beer
incorporated here for the purpose of con
trolling several new electrical patents
Leonard Moody, q Brooklyn real estate
man, has been elected to the Presidency o
the company. Rumors have been freely
circulated that there had been patents OBJ
tanned by Electrician Van Choat, who il
well known in this city, which would revo
lutionize the systems of electric lighting
and also that of surface and elevated rail
road propulsion. The improvements, it i.
said, included new dynamo different en-.
tirely from anything yet seen.
These rumors were exceedingly difficult
to verify. A reporter called upon Mr..
Van Choat, but the inventor refused to give
out any of the details of his plans or to
verify in any way the statements that q
company had been organized. From other
sources it was definitely learned that q COM
pany with Q capital OF Sc, 6,00O, 900 had been
organized BY some of the wealthiest men OF
the East Boston, New York, Philadelphia,
Brooklyn and other money are interested
In it. The stock has been nearly all snb-
scribed for by the organizers, so it is not
likely that much of it will be at present Of
fered to the public.
Something of the Company's Plans.
The plan of the company, SO it is said, is
to increase its capital as soon as the inVen-
tions have been introduced to almost an un-
limited amount. Ten or fifteen millions
are spoken of BY conservative men as the
lowest amount that Will be issued eventu-
ally. The capitalists behind the project
are all shrewd men who do not believe in
buying q pig in a poke, and exhaustive
tests are being conducted before the final
agreement to buy the patents is made.
These tests will probably be concluded
within the next few weeks and then the
company will at once begin the erection of
plant One of the directors of the COM
pany holds piece OF property in Boston
where the plant will be established. II the
patents are bought the manufacturing and
pushing of them will be started within six
months.
Just the nature of the patents could not
be ascertained. Mr. Van Choat has been
at work upon them for nine or ten years,
and, it is stated, has spent large sums OF
money in perfecting them. He will prob
ably be given large block of stock AMI
made one of the directors in the company.
The electric lighting patent is said to be
in two parasitic lamp and the dynamo
The former differs widely from the present
Edison light in color and strength. 1t is
exceedingly white and gives so much more
light that one of them is equal to several
of the Edison lights The film which is
used instead of being carbon is composed
of a combination of metals in which iodine
is not needed.
Cheapness One of the Factors.
It is expected that the light can be pro-
duced at about one-third of the present cost.
1t can be used upon the Edison circuit, and
the plan is probably not to try and estab-
lish rival lighting companies in various
cities, but to sell the lamps to the Ellison
Companies. The dynamos, it is claimed,
will generate much more cheaply than
those now in use anywhere and can be made
at less cost. Nothing could be learned con-
cerning the patent for the propulsion OF the
cars, other than that wires overhead are
not needed.
A New York special says: In the stock
and bond columns of the papers here men,
tion was made of the fact that there was an
electrical company about to be organized,
but nothing definite could be learned in this
city. Royal Peabody, of the Edison Elec-
trical Lighting Company, said he had not
heard anything about the new company
which has been formed. 81 doubt very
much, he said, whether any patent will
make much headway against those of Mr..
Edison. Of course, if they have something
better, which is not an Infringement, 1 sup
pose we would adopt it at once, for the
most progressive and successful companies
are those which get hold of the good things
first"