Letter – Martin Morrison to Isaac Wilkinson – 23 Apr 1808

Isaac Wilkinson Esq  Chesterfield			Newcastle 23 April 1808

	

      I am favored with your letter of the 21st instant the quantity of Lead for Sale in this Country may be estimated at 70,000 Pieces, forty thousand of which belong to Col Beaumont. In Yorkshire I do not suppose the quantity very large so that from the reduction generally adopted in working the Mines I entertain no serious apprehensions that the price of Lead will be brought so low as £20-0-0 Per fo[dder] which you think from the non-export the great House will succeed in establishing. It is my opinion that the Lead Merchants will defeat their own purposes in endeavouring to fix the price of Lead at a lower rate than what it can be afforded at, by inducing Men of large Capitals who from late events in the Commercial World have money to spare, to speculate largely in the article & who will be enabled to hold it, till they can send it to a foreign market; this has in the past been done & I have sold within the five last weeks 20,000 P[iece]s to Russia & an Oporto House with the view of being able ultimately to export it. The last price was £25 & 24 Refined and common Per fodder of 21 Cwt.

	From the state of the Lead Trade of late, together with the Mines being unusually poor, the quantity of Lead this year will fall greatly short compared with what has been produced in preceding ones. Mr JEBlackett has been indisposed with a Cold & I believe is yet confined to the House, when I see him I shall not omit to deliver Mr & Mrs Wilkinson’s Compl[iments] to him & am etc 

		MM