Analysis of information sources in references of the Wikipedia article "General Electric" in Romanian language version.
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After mustering out, Henry Lee Higginson gave up his ambitions to become a musician and went into cotton farming and oil prospecting; by 1868, he was a partner in the family investment banking firm, Lee, Higginson & Company. As an entrepreneur, he became one of the most active and innovative organizers of national scale enterprise, ranging from western railroads and copper mines through the American Telephone & Telegraph Company, General Electric and General Motors.
The official finalization of the separation comes Tuesday, with General Electric disappearing in favor of GE Vernova, dealing with energy activities, and GE Aerospace, the new name of the late GE.
...When [Charles] Coffin's banker, Henry Lee Higginson suggested a merger early in 1891, J.P. Morgan wrote back, 'The Edison system affords us all the use of time and capital that I think desirable to use in one channel. If, as would seem to be the case, you have the control of the Thomson-Houston, we will see which will make the best result. I do not see myself how the two things can be brought together.'[¶] A year later, [Morgan] had changed his mind—perhaps because Thomson-Houston was winning the marketplace war...Morgan wrote to Higginson's associate T. Jefferson Coolidge in March of 1892: 'I entirely agree with you that it is desirable to bring about closer management between the two companies.'[¶] Morgan told Coolidge in March that [Henry] Villard's resignation would take effect on April 1, and urged that Coffin 'be then elected President of the Edison General Electric Company.' When the new firm was chartered in New York on April 1, 1892, however, with Coffin as its president, it was not called Edison General but General Electric. [¶] Each Edison share was converted into one share in the new company, while three Thomson-Houston shares brought five in GE. The bankers capitalized the consolidation at $50 million: $15 million went to the Edison stockholders, $18 million to Thomson-Houston's, and $17 million (in stock) into the GE treasury...Morgan and Coster took seats on the GE board, as did Higginson, Coolidge and Edison...
The official finalization of the separation comes Tuesday, with General Electric disappearing in favor of GE Vernova, dealing with energy activities, and GE Aerospace, the new name of the late GE.
