Letter – Martin Morrison to Diana Beaumont – 14 Sep 1809

Mrs Beaumont addressed to Col Beaumont			Newcastle 14th September 1809

Bretton



      I am honored with your Letter of the 11th instant enclosing one from Mr Dennis.  I should be most happy if any plan could be devised to secure a regular demand at an adequate Profit to the Mines, for all the Lead produced, but while the export is limited by the continuance of the Wars I despair of seeing any alteration in the trade for the better.  The Lead Trade similar to every other commercial establishment will flourish or otherwise according to the demand.  In the present times unfortunately, it is deprived of the export to the Continent and its sole dependence is upon the home consumption diminished as it is, by the enormous expense of materials for building, and what the East India Company and the Public Boards may require; hence greater opportunitys arise to reduce the price so as to serve the purposes of speculation.  What may be Mr Dennis’s measures of counteraction to those Evils and for the future benefit of the Trade I am ignorant as I never saw the Paper he alludes to; nor am I aware of any Plan to be adopted by the Mine Proprietors that can be attended with beneficial affects to the whole and particularly to Colonel Beaumont.  Is it for him to stake his immense Property with every other Person who may stile himself a principal Lead Proprietor and submit to the regulations (for such I conclude is the object) of a set of <men> for the sale of his Lead, which in point of quantity greatly exceeds what the aggregate total of these amount to and who may be influenced by schemes injurious to his security? For who knows but the progenitors of all this, may be the late associates of Mr Elliott.  Mr Walton strongly recommends an extension of Sales to Messrs Easterby Hall & Co by Col Beaumont on the pure disinterested motive no doubt of adding to the security of his own transactions; Believe me Madam, you had better encounter all the [struck out: trade]   evils with which the Trade is assailed than relinquish your independance and become subservient to the views of others.  I consider Mr Deny’s operations erroneous so far as respects the causes of Mr Elliott’s failure, for I believe it will be found his connection with Messrs Easterby Hall & Co have done more injury to his affairs, than the schemes of Mr Maltby; besides the advance in the price of Lead, last year, altho’ not the work of that Gentleman, ought to have been productive of great benefit to Mr Elliott.  The sum of my opinion is that by acting alone, your Interest is best secured, and whilst you so continue, the Trade will be subservient to, and must follow your proceedings; I therefore beg to recommend Mr Dennis may be informed that you decline interfering at this time on the subject of his Letter not seeing the benefit to result from an association of Interests so disproportionate.

      You will know Madam, Mr Elliott is become a Bankrupt and I fear his affairs will turn out badly – Messrs Nichol & Ludlow have applied to me, to know your intentions, should it be found, that as drawers of the Bills upon Mr Elliott, they are liable to make them good, I have of course avoided saying what your intentions may be, and shall do so until I know them from yourself, and obtain additional legal information as to put the question out of all doubt, if they are proceeded against a Commission of Bankruptcy and their total ruin will be the consequence of it.

      MM



PS  Since writing the aforegoing I have sold 15,000 Ps Lead to Messrs Walker Maltby & Co, 10,000 Pieces to Messrs Prestons @ £28 &27 which is the most I could obtain after a long negotiation & you will probably be more disposed to inform  Mr Denys that having made these Sales, you decline entering upon the  business proposed by him; - I have also to state that you will receive in two covers by the Mail which conveys this, a Power of Attorney and an affidavit of Mr Elliott’s Debt which you will be pleased to get executed before a Master in Chancery residing at Wakefield or Barnsley; and to forward  both immediately to Messrs Glyn & Co for the purpose of proving the amount against Mr Elliott’s Estate on Thursday first at Guildhall. Messrs Glyn & Co having already expressed a readiness to render this assistance I shall write to them on the business.