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Thomas How Masterman Esqr Newcastle 30th June 1810 London I duly rec[eive]d your obliging Letter of the 28 inst and having this day seen Mr Foster, the Receiver to Greenwich Hospital and other Gentlemen Creditors of Messrs Prestons, I imparted to them the Substance of its contents. – As We are all deeply impressed with the necessity of this Concern being re-established, our opinion is that a meeting of the London Creditors should be called for the purpose of extending the time to the Trustees to enable them to continue the business until they can obtain, what in their opinion is an adequate price for the Premises and Trade, and that the Solicitor acquaint the Creditors in the North (by Letter addressed to each under Cover to Mr C Blackett) with the result and to request their Concurrence to the measures necessary to adopt. – It is thought here, that the time, if limited at all, should not be less than six months, under the persuasion if the Partys who have already appeared to treat, are in earnest: that it will not only abate the hopes they may have entertained from a Public Sale and incline them to a more immediate determination, but that it may induce others to come forward, when the Trustees can clearly demonstrate by their own transactions, the advantages to be derived from the business conducted with discretion and competent means. – Whether every individual Creditor may be inclined to an extension of time, I am incompetent to state: I think I can answer for those in the North; but, if a dividend of 2/6 in the Pound could, with the view of continuing the Trade, be conveniently made, I presume all would concur. –Persuaded you will pardon this intrusion on account of the important Interests at Stake I am etc MM
