Letter – John Erasmus Blackett to Charles Bowns – 25 Sep 1803

Charles Bowns Esq				Newcastle 25th. Sepr. 1803.-

Darley Hall Barnsley, Yorkshire        



Sir

       I duly received your Favour of the 12th. Inst. & delayed answering it until I had an Answer from Sir Wm. Loraine & Co. to the Proposition that you offered them, which I have not yet obtained; they wish to know if the Deposit of £5,000 – is understood to be a full Compensation for the discounting such Bills as I may pay into their Bank, should they be at two, three, or four Month’s Date. – I am concerned to find that the Affairs of the Bank of Surtees’s & Co. have not so favourable an Aspect as was at first represented, & that it is not probable they will be soon settled; the Creditors begin to be very uneasy & some talk of making them Bankrupts, but I hope that Measure may be avoided, for in that Case every Advantage arising from the future Workings of the Arkendale Mines by the present Lessees would be lost to the Creditors.

	An Offer was made to me by Mr. Easterby (with the Consent of the Committee of the Creditors) to give me their Note (payable in London) for the Amount of the first Instalment due the end of Decr. (as a Convenience to Col: Beaumont) they having no Doubt that Messrs. Ransom & Morland would readily discount the same; I was of a different Opinion & not inclining to change the Security I declined accepting of their Offer.  Great Pains have been taken by the London Lead Houses to reduce the price of Lead; a Proposition was made me to defeat Mr. Ellill &c. in his Offers to the India Company, which I declined; that Person got the Contract for 2,000 Tons at £24 -19 -,, the Ton, equal to £26 -17 – 6 the Newcastle Fo[dde]r. , had I come into the Measure, it would probably been a Loss to Coln: Beaumont of upwards of £10,000-

       I have the Pleasure to inform you that on Thursday last I sold to Messrs. Walkers, Maltby & Co. 1,500 ps. Lead at £32 & 33 the Fo[dde]r. & to the Works on this River about 600 ps. at the same price. – I expect the other Houses will make Purchases, tho’ not of large Quantities at present. – The Lead Mr. Ellill sold was chiefly Slag Lead & Welch Lead which is no better.

       Inclosed you have an Account of our Receipts & Payments till March next as near as I can calculate; what Lead I may sell from this time, will be in Aid of them and the Lead Pay in May.

       I wrote to Mrs. Beaumont Yesterday.   I am &c. – J.E.B.