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Mr Mulcaster Farnacres 8th Decemr 1772 As upon the most exact calculation I can make I now find that supposing Lead to continue at its present Price, Cowhill Lead can scarce fail of making a Profit by refining, but I believe it will be so small that if it had been run into 1 1/2 Cwt pieces it would most undoubtedly have been more prudent to sell it as common Lead than refine it; however to try the experiment & as I do not wish to have any Cwt Lead to come to Markett when it can be avoided, I desire you will refine it by itself and let an Account be kept of the Coals Bone Ashes and Fern Ashes used and then we shall be able to see how near the Wind we can run. I dont know how this expression may suit Refining but it is a common one among Sailors that the nearer a Ship will sail to the Wind the better. I am for Mr Smeaton & Self Your most hble Servt N W Junr