Letter – John Erasmus Blackett to Thomas Richard Beaumont – 22 Sep 1793

Thos Richd Beaumont Esqr                                                               Newcastle 22d Septr 1793

            Bretton near Wakefield Yorkshire



Dear Sir	In consequence of a Notice I rec[eiv]ed on Wednesday evening of a Meeting the day following of the Creditors of Walter Hall & Co resident in Newcastle (after having consulted with Mr Williamson) I attended the Meeting with Mr Heron when the inclosed statement was laid before the Meeting and a Committee was appointed to examine and investigate the same and to make their Report to a General Meeting of the Cred[ito]rs which will be soon called; The Statement is dark and Ambiguous & I think has a bad Appearance, some of the Cred[ito]rs proposed that an Assignment of all their Effects sh[oul]d be made to some persons for the benefit of their Cred[ito]rs but that was not approved off, and they postponed coming to any Resolutions on that head untill a Gen[era]l Meeting, but it is the Opinion of a Number of Creditors as well as of Mr Williamson & Mr Heron that a State of Bankruptcy cannot be avoided, for its thought that an undue preferance has lately been given to some of the Creditors.  The Effects are of so many kinds, part of them are of a perishable nature & widely dispersed in various parts in Europe etc a great part of them (as appears by the Statement) in Cred[ito]rs hands under Mortgage which induce me to think that on the close they will turn to bad Account _ In the Statement you are Creditor for £996-11-8 which is 16s 8d less than we have it in our Books _ the late Dr Hall is Cred[ito]r for £3171-12-7 which probably may be the Sum w[hic]h they have drawn out of the Hands of Lancaster & Co & that House is made indebted to them in the Sum of £277-2- which may be for the 50 Casks Litharge sold them together with their Commission and Charges _ I am very sorry to find that Mr Williamson & Mr Heron are both of Opinion that the House of Lancaster & Co will not be subject to the Debt owing to you and that it will fall on the Effects of the late Dr Hall whose Widow is by Will left sole Execectrix.

	Walter Hall declared at the Meeting that his Father Jno Hall was a Partner in the House with himself & Brother & that he dies Insolvent, altho’ the same day he told one of C[redito]rs that his Father died Solvent and that there would be a Surpluss after the payment of his Debts; I sincerely wish that it may be the case but I much doubt it.

	It is with concern that I give you so very unpleasing an Accot of this disagreeable Business and you will by this Post have a Lre [Letter] from Mr Heron on the same occasion to which I refer you.

	I have not yet made any Sale of Lead Mr C Blackett & Messrs Walkers & Co have applied to me to know the price, I asked them £17 per Fo[dde]r they have made no offer, nor do I think that they will exceed £16-10 and even at that price will not purchase a large Quantity as they are strongly of Opinion that the price must drop which indeed I am very apprehensive will be the case, there are at present at Blaydon upwards of 30000 p[iece]s of Lead ready for Sale, about 15000 are in other Hands about 25000 p[iece]s at Stockton, It will be highly necessary on Account of your Lead Pays that you should soon make a Sale and I wish that £16-10 could be obtained for 30000 p[iece]s.

	Six Months Credit is the most early payment in Bills at 2 Months that will be complied with                                                      I am etc    J.E.B