was brave mood and
. The companies bearing Edison's name were
irreversibly identified with him and his financial dealings
were giving all them bad name." Insull knew that the ruinously
expensive phonograph venture was eroding Edison's credit
standing and making harder for all the Edison companies to
borrow money. Insull found out that
the lab was charging its supplies the Machine Works.V-15
In the 1870s, Edison's abuse bookkeeping formalities
enraged his suppliers and frustrated his customers; the
1880s alienated his old comrades who were now running the
electrical companies. Edison
was riding the crest the wave the electrical industry and
he was driven forward his vision electrically run
world the future. often
pushed experimental campaign forward regardless cost when
more cautious minds found the expense hard justify." Samuel Insull had once been the man who had
devised stratagems raise cash for Edison, but 1888 he
found himself managing the Edison Machine Works and constantly
frustrated Edison's financial ploys.
On the other hand, Edison wanted free from business
worries order concentrate his experiments.) These managers, who had once been
colleagues Edison, were now responsible for large operations
and had exercise the financial restraint that was alien to
"the old man. He
complained Edison that "we are constantly being asked pay
27
bills the laboratory. (See Sidebar EDISON'S FINANCES AND THE
ELECTRICAL INDUSTRY
