Letter – John Erasmus Blackett to Charles Bowns – 8 Oct 1803

Charles Bowns Esq					Newcastle 8th. Octr. 1803.

Darley Hall

near Barnsley, Yorkshire		



Sir

       I am favoured with your Letter of the 1st. Inst. and observe the Contents.

       The Bank of Sir Wm. Loraine & Co. have agreed to transact Coln. Beaumont’s local Business on the Terms that you proposed, but there is not a Probability that the Deposit of £5,000 can possibly be made for several Months; they have not at present quite £200 – of Coln. Beaumonts in their Hands besides a Bill on London for £4,454 -11-11 which will become due the 12th. Decr. next, & will answer for the Subsistence, Lead Carriage Pay &c. that Month, other Receipts for Lead &c. will about answer the several Payments for this & the next Month without having Recourse to the Bank.    The Affairs of the Bank of Surtees’ Burdon & Co. I am sorry to say are not likely to be soon settled, but I understand that three of the Extents are already satisfied & the last is in a Way to its Discharge; the Committee have disposed of the Surtees’ Share of Cowpen Colliery & of the Lemington Iron Works, & are relieved of the floating Paper of that Concern. – Mr. Burdon has disposed of a Fishery on the River Tweed to Mr. Davidson for £12,000 - & he is about disposing of his House in Town and other Property.   The former Proposal for the Purchase of the Lemington Iron Works went off owing to Mr. J. Surtees, & the Committee have been under a Necessity of disposing of that Property on Terms less beneficial, one fourth to be paid in the Course of a few Days, the Remainder by Instalments at 3,6 & 12 Months, which Sums shall on the Receipt be remitted to you.    Should the Bank of Surtees’ Burdon & Co. be declared Bankrupts, every Advantage that may arise from the Arkendale Mines would be lost.

       The present Demand for Lead is small; I have sold small Quantities at £32 & £33 p[er] Fo[dde]r. but in the present Situation of the Trade, it is not in my Power to make more advantageous Stipulations for the Payment.   I believe that Coln. Beaumont has Thoughts of making a Change of the Bank of Mess. Ransom Morland & Co. for that of Alexr. Davidson Esq & Co.  I am JEB