Letter – John Erasmus Blackett to Diana Beaumont – 17 Oct 1802

Mrs. Beaumont under Cover to			Newcastle 17th. Oct.r 1802

Coln. Beaumont Bretton, Wakefield Yorkshire				



Dear Madam

      I have the Favor of your Letter of the 13th. inst. & I observe what you say as to the Advance of Price on Lead; I am inclined to think that the Persons from whom Coln. Beaumont had the Information, were influenced in their Opinion, more by their own private Wishes &c. than from any well founded Knowledge of the present State of the home and foreign Markets.   I am well informed that there is at this time at the London Market, about 40,000 ps. of Lead on Sale; the India Company have not only refused making any further Purchase from the London Houses at the present prices, but they have restricted their Servants, as well as the private Trade, from doing it; Mr. Locke of London who has the Contract for the whole of Lord Pomfrets Lead which comes down to Stockton has within this Month sold 5,000 ps. for the Works on this River & for Holland at £30 the Stockton Fo.[dde]r of 22 cwt. is equal with the Charges to £29 the Fo.[dde]r at this Place;  Walkers & Co. have lately purchased a considerable Quantity of Lead from Wales at £25 p[er] Fo.[dde]r which allowing for Freight, Insurance, and other Charges will stand them delivered at their Works not exceeding £27-10- or £28 the Fo.[dde]r

I have enclosed you a Copy of a Letter that I received from Mr. Meason (a considerable Lead Mine Proprietor) and likewise Extracts of Letters to shew you the present State of the foreign Markets.-

      Since the Lead Company sold the London Houses 10,000 ps. Lead at £31-10-.. the Fo.[dde]r they have sold them 8,000 ps. at the same price, but a longer Credit.

      It is too late in the Season to send Lead to the Ports in the Baltick, it will very soon be so to Holland, there does not appear to be a Demand at the present Prices for France, Should the India Company continue firm in their resolution, not to purchase at the price it was at which it was offered them, & considering the Stock at the London Market, I realy do not see the least Probability of the Price reaching £40 the Fo.[dde]r or even near it, I am rather apprehensive of a Fall in the Market, & was I possessed of a Quantity of Lead at this time I do assure you that I would not hesitate accepting of £32 or even £31-10 - - No offers whatever have been made to me since you left the North; After the State that I have given you with my Opinion thereon, I leave you & Coln. Beaumont to judge on the Matter; but I shall fix the Price at £40 the Fo.[dde]r & none shall be given away under agreeable to your Information & Opinion & I do assure you that I shall have a pleasure in acknowledgeing that my Conjectures were ill founded.-

      With Respect to the Office of Bailiff of the Manor of Hexham &c. the late Bailiffs Mr. Ellis and Mr. Heron were resident on the Spot, of Course there was no Necessity for a Deputy, nor will there be in Case you should think proper to appoint Mr. Bell to that Office, nor indeed do I apprehend that your doing so, can be attended with any Inconvenience or bad Consequences to your Concerns, was a Deputy to be appointed, I am of Opinion that the Business would not be so well conducted, nor so much to the Satisfaction of the Steward & the Copyholders.

      I propose meeting the Lead Agents at Hexham on Wednesday.   I am &c.   J.E.B.