Letters – Benjamin Johnson to John Hodgson – 11 Jan 1834

John Hodgson Esq



      I shall see Mr W[ilia]m Crawhall on Tuesday next when I take up the subsistence money & I will request him to state what he considers the value of Mr Beaumont’s interest in the Allendale Road. Its real value to him as connected with his mines has been at least from £1,000 to £1,200 a year but the valuation must be made upon the probable return that he will receive from the road in future.

      As no dividend has yet been declared I am quite sure that no purchaser can be found at anything like the value, and it was on this account that the Turnpike trusts here and in Yorkshire were returned at so small a sum.



Railway Shares

      If Mr Beaumont were to offer his Shares in the Railway for Sale – under whatsoever circumstances it might be stated to occur. It would be a death blow to the concern. It is quite clear that additional shares must be created to compleat the undertaking and it is equally clear that if he, the person of all others the most benefitted should offer his shares, no one would invest one penny beyond what they are now bound to pay and the undertaking would be most fearfully injured – out of the whole amount of the 60 shares he now holds of £100 each he will not have to advance more than from £3,000 to £3,500 the residue being met by the money paid to him by the company for his land taken up by the line of Railway- of this about £1,000 will be paid for the Land at Bywell and the residue from the settled estates near to Hexham, which will of course have to be invested – or the parties take a beneficial interest in the Railway which I think they cannot refuse to do. I have no hesitation in saying that Mr Beaumonts mines and Estates will benefit from £1,000 to £1,500 a year when it is completed to Haydon Bridge it is expected to be opened from Hexham to Blaydon this year when a very considerable saving in the carriage of lead and materials going to the mines will take place. And should it never pay anything to the shareholders Mr B[eaumon]t will be amply paid for his Investment. A sale would materially affect his popularity in the county. Mr Donkin is of the same opinion upon all these points. I am sorry to inform you that Mr Beckett refuses to act in any way until a Ledger is restored to him which it appears was borrowed some years ago  and sent to London when Mrs B[eaumon]t had a trial with the Low Moor Company. I never heard of the circumstance till the other day but it appears Mr Beckett has often applied for it and I much fear it has been mislaid in London & may probably never be found. Mr Donkin has written to Bretton and to S[h]effield to obtain all the particulars. It took place when Mr Wheat of Sheffield was Mrs B[eaumon]ts Solicitor and the Gent[leman] who was his Agent in London is since dead.  I understand Mr W[ilia]m Parker has got the Hudgill company to renew his Bills. This does not look well. He has purchased some lead of James & Co part of their last Purchase of us. Can you obtain for me any information of the credit of the parties who are partners with the Halls in the Derwent Mines –resident in London? I expect the Halls will pay Six shillings the first instalment on their Debts in a few Days and will be put in possession of the Mines and Works. If they should apply to purchase Lead & I have no doubt they will to what amount may they be trusted. Messrs Batson Berry & Co are to furnish me with a written statement of the manner they propose the acc[oun]t with them to be kept since the 1st inst on Monday which I will forward to you.

WB Lead Office 	Jan[uar]y 11/34		I am Dear Sir etc BJ