Letter – Nicholas Walton to William Corbett – 15 Sep 1743

To William Corbett Esq					Ravensworth Castle Septemb 15 1743



Sir

       In answer to yours of the 7th Inst inclosing the Boards Minutes of that date relating the dues of Lead Ore.  I begg leave to acquaint you that in the Lease granted to George Liddell Esq & Ptners there is a reservation made of a Liberty to Smelt the dues at the Lessees Mill at such times as it may be Conveniently done paying to the sd Lessees reasonable Satisfaction for the use thereof so that if the Board think proper to Smelt their dues; the Lessees can without inconvenience allott a part of their Mill for that purpose.

       I send you herein a Computation of the Expence of Smelting reckoning the Ore at 38s P Bing & Supposing Lead to Sell at £11 P Fodr by which you will observe there will be a Small profit, but as I Compute upon the Ore making out at the rate of 5 Bing to a Fodr of Lead & which shall produce 9 Ounces of Silver, the profit may be more or Less, but I am of Opinion it will Scarce exceed the Computation.  If you sell the Ore at present the Money will come into hand at Ladyday next whereas if we sh’d smelt it into Lead it cannot be sold before Michaelmas 1744 or thereabouts so that the Interest of the money for Six Months I doubt would exceed the profits & besides some difficulty may arise in <get[ing]> readily refin’d; for tho I am Satisfyed the Exec[utors] will readily grant a liberty of making use of their Refining house yett they cannot at all times do it.   You will please to observe the Board have no liberty Reserv’d to make use of the Lessees Refining house being built upon their own Estate near this place.  I hope what I have said will be a full answer to what the Board require so that I have only  to add the sooner they come to a solution the better, as the season will soon be over for getting the Ore Led to the Mill before Winter.  The Marketts here for Lead are advancing but it’s continuance is very precarious so that I should incline to think it rather the Interest of the Hospitall to sell their Ore now than Smelt it, but that I submitt to their Consideration.   It is not unlikely if the Board are in Treaty with the Quakers Company but they may advance to 40s P Bing for Bouse Ore & they shd give 35s for the Cutting in proportion upon the prospect of the rising Markett.        I am for Mr Boag & Selfe

       Sir Yours etc

       Nichos Walton 



Computation of the charge of smelting a fodder of lead vizt

5 bing of ore at 38s                                      £9 10  0

Leading to the smelting mill                                  3  4

Smelters wages & fewell &c                                   11  0

Liberty of using the mill & utensils                          5  0

Carriage from the mill to the refinery                       16  9

Charge of refining & reducing into lead                      13  8

Washing over at the mill                                      5

Inspecting the Smelting & Refining                            2  6

                                                         £12  7  3

The waste in extracting the silver & reducing 

into lead will be about 2 cwt in 21 cwt so that 

19 cwt of lead will remain at £11 per fodder 

of 21 cwt                                   £9 19  

9 ounces of silver at 5/10 1/2              £2 12 10 1/2

                                                         £12 11 10 1/2

Nett profit                                                   4  7 1/2

A copy sent the Board 15 Sep 1743