SWAN'S ELECTRIC LIGHT.

Daily Telegraph (Napier), Issue 3055, 11 April 1881, Page 3

SWAN'S ELECTRIC LIGHT.

It will be seen from tbe following clipping from the Newcastle-on-Tyne Chronicle of February 9th tbat Mr J. W. Swan's discoveries in the direction of electric lighting are likely to have a full and early trial.

" No time will now be lost in bringing the fruits of Mr J. W. Swan's important discoveries and achievements in electric lighting before the notice of the general public in a practical and business-like way. Within the past few days a company has been formed for the purpose of acquiring tbe right to our townsman's patent, and to work it. The company is entitled Swan's Electric Light Company, and is composed mainly of local capitalists. The directors are J. C. Stevenson, Esq., M.P. (chairman), J. W. Swan, Esq., A. S. Stevenson, Esq., J.P., Hilton Fhilipson, Esq., James Craig, Esq., Dr. Marz, and J. C. Swan, Esq. Messrs J. and R. S. Watson, Pilgrim Street, are the solicitors to the Company. The capital of the Company is £100,000, and although no prospectus was issued, and the matter was kept entirely private, the applications for shares were largely in excess of the number available for distribution. It is alike honourable to Tyneside, as it must be gratifying to Mr J. W. Swan, to know

that tbe large proportion of the capital required was subscribed by fellow-towns-men and gentlemen connected with Tyneside. So eager was the desire locally to become connected with the Company that there was no necessity to solicit the aid of stranger capitalists. Some of tbe capital is subscribed in Glasgow by friends of the promoters and inventor. The value of the shares in the new Company is fixed at £10 each."