Letter – John Erasmus Blackett to Diana Beaumont – 24 Sep 1803

							Newcastle 24th Sep[tembe]r 1803

Dear Madam

      I am favoured with your Letters of the 21st Inst. & am happy to find that you are satisfied with my Reasons for declining the Proposition made to me.

      You have no doubt heard that Mr Ellills Offer of 2000 Tons of Lead to the India Compy. at £24,19, ,, the London Fother equal to £26, 17, 6 the Newcastle For. was accepted of; another Company agreed with the India Company for the remaining Quantity 300 Tons at the same Price; had I come into the Proposals you would not have got with the Freight Insurance the 5 P cent to the London Houses above £25 p Fother of Newcastle. –

      I have now the Pleasure to inform you that on Thursday last I made a Sale to Walkers, Maltby & Co. of 1000 ps. Comp. Lead at £32 the For. and 500 ps. Refined at 33 the For. besides some few Hundreds to others at the same Price; the other London Houses I have no Doubt will follow their Example, though I should suppose not for a large Quantity at present, however the Combinations amongst the London Buyers is defeated, & your Situation will be very different to that, in Case I had closed with the Terms proposed to me. I observe what you say of Mr Ellill; for some time past I have not had the most favourable Opinion of that Gentleman, being informed of the Circumstances that you mention.

      I agree with you that the State of the Bank Affairs have not so promising an Aspect as we were at first led to believe; the Creditors begin to be very uneasy but I have not heard any Reports of their being made Bankrupts, the Event of which would be the Loss of any future Benefit arising to the Creditors from the Arkendale Mines.

      Mr Easterby proposed to me (as a Convenience to you) to give me their Notes (payable in London) for the Amount of the first Instalment due the end of December, which he said the Committee approved of, & that Ransom & Moreland would discount the same; I had my doubts of their doing it, & considering that it would make an Alteration in the Claim etc, I declined the Offer.

      I enclose you the Statement that you desire (a Copy of which I shall send Mr Bowns) but you will please to observe that the Sales of Lead which I may make from this day will answer the Payments in March etc.

      I am with best Respects to yourself and Coln. Beaumont.

      Dear Madam Your Hbl. Servt.

      Jno. E. Blackett