The new corporation was
financially strong, having $306,069 cash hand, $349,237
invested, and its accounts receivable exceeded accounts payable
by over $750,000. annexed certain functions, like
advertising and purchasing, regardless the legal
independence other Edison companies." The
National Phonograph Company absorbed the New Jersey Patents
Company, the Edison Manufacturing Company, and the Business
Phonograph company. Its surplus assets over liabilities was
$9,752,556.
Several smaller organizations, such the Bates Company, kept
their corporate identities although TAE Inc. This put strong position raise more
money from banks and maintain financial support the sickly
cement and storage battery companies..VIII-27
National Phonograph Company underwent 1908, and avoid any
embarrassments the future. took over their
management.
The corporation's initial press release stressed that it
was reorganized, rather than new company, and that was
the beginning plan bring all Edison companies under one
. 43
corporation, for the purpose "business convenience. Other (less profitable) companies were
excluded this time but gradually assimilated into TAE Inc. 1911 was due $879,456 from its
affiliated companies, indication the financial strain of
supporting the weaklings. TAE Inc. One important function
planned for the new corporation was that should a
financial umbrella, supporting the weak members with the
earnings the strong
