XII-28
operated and owned Edison personally. Much the financing
of the West Orange laboratory this time was coming from
Edison's purse.
The increased financial stringency brought the high
price capital the early 1920s, accelerated postwar
depression, led important changes both the structure and
the financing the lab. Consequently, the
development new primary batteries and dictating machines was
supported the financial reserves the laboratory. One the most important the latter was the work
done for the Ford Motor Company.
Edison was excellent position look into the
future and decide the development paths his businesses.
Unfortunately, the division managers had concentrate the
short-term, and the difficult financial conditions after the
War they often refused pay for Edison's experiments. Henry Ford advanced Edison
large sums money for experimental work and this became an
important part his personal finances. The
lack divisional support for Edison's experiments meant that
more and more research was supported him personally. bureacratic arrangement had be
. This
applied not only personal projects, such the work for
Ford, but other long-term R&D ventures, especially the research
into recording and reproduction which offered great potential
for the future the phonograph business. funnelled several sources income into the
finances the lab, including salaries from his various
companies, royalties from his inventions, and private research
projects
