Incorporated in New York by 1888. Elisha Dyer III, President, Albert Strauss, Treasurer. The company was formed to exploit the patents of Victor Popp, a French national who had developed a system of compressed air power to run machinery and turbines for generating electricity. Elisha Dyer III, 1862 – 1917, broker and socialite, son of Rhode Island Governor Elisha Dyer II. Albert Strauss, 1864 – 1929, worked at Seligmans investment bank, becoming a partner in 1901. Held many other position before becoming Vice Governor of the Federal reserve in 1918.Capital $1,000,000 in shares of $100.