Letter – John Erasmus Blackett to Thomas Blackett – 10 Oct 1783

Sir Thos Blackett Bt     Bretton                                             Newcastle      10th Octor 1783

        near Wakefield   Yorkshire



Dear Sir

	I had the Favour of your Letter of the 1st instant which I postponed answering till Mr Wilson’s return from Berwick.  I have been with him this Morning & we had a good deal of Conversation on the Subject of your Letter.

	I think you must have misunderstood my Letter possibly by not having explained myself so fully as I should have done.  Mr Anderson is to pay Interest at 4pct for the Sum unpaid from the Time of his Ent[e]ring into Possession of the Premises & the Receipt of the Rents which he is desirous of doing at Candles next instead of Ladyday, he has already paid 1000 Guineas, proposes paying another 1000 at Martins next & 4000 Guineas at Candles next when the Deeds are to be Executed & he enters into Possession.  The remaining 2000 Guins he hopes you will accept his Bond at 4pCt payable on or before the Expiration of 2 Years from the Time of his Entering into Possession; but he expects you will allow him Interest at 4pCt for the 1000Guins he has already paid as well as the 1000 Gs which he is to pay at Martins next from the Time of making those Payments to Candles next.  This appears very reasonable & I imagine you will have no Objection to it.  Please to favour me with your answer as soon as you can that Mr Wilson may be proceeding with the Article.  The Plan and Situation of an Office & House for an Agent may be left to further Consideration.  By the Will of Sr Wm Blackett you are obliged to Cloath the 30 Charity Boys but not to find a House & School Room for the Master.  I have not sold any Lead since I last wrote you & really begin to be very uneasy on that Account as the value of your Lead at this Time at Blaydon will amount to upwards of £40,000.

	I have had a great deal of Conversation with Mr Hall & Mr Blackett on the Subject, they decline naming a Price for any Quantity & say that at present there is little or no Demand for Lead at the London Markets.  It is very plain that the London Buyers have entered into a Combination & as you have much the largest Stock of Lead they set their Mark on you & are in hopes of bringing you down to their own Terms.  I have acquainted Mr Hall & Mr Blackett that unless they soon make a Purchase you will be under a Necessity of sending up to London 15 or 20000 ps Lead to be disposed of by Commission at that Market which would Affect the London Dealers in a Considerable Degree.

	I hope the Apprehensions of this Measure may induce them to make a Purchase soon.  I shall remit you another £1000 next Month & am etc     JEB