Memo – Martin Morrison – 23 Jan 1810

Janry 23/1810. Mr Puller purchased of the Assignees J.B & Co Mess[rs] <..> & <..> Surtees’s Int[eres]t in the Mines etc with E[asterl]y H[all] & Co for £12.000 - - pay[a]ble at 1,2 & 3 years without Int[eres]t. – the Agreement to be completed on or before the 1st May next –



Copy of Easterley, Hall & Co’s representation as to the Value of their Interest in the Arkendale & Derwent Leadmines etc. The Value of Arkendale & Derwent Mines estimated as follows

      Arkendale Mines

The Mines in Arkendale with a large tract of Mining Country hitherto unexplored belong to three Lessors as joint Lords, in equal shares, one of which has been purchased by Easterley, Hall & Co for the life of the present possessor, with the expectation as soon as his Son comes of Age; that he will part with the eventual Interest. The remaining two thirds are held by Leases which will expire on the 1 Jany 1821 but which it is supposed will be renewed according to the custom of Mining Countries.

			The Rent paid is £2850 pAnnum

The Produce of these mines was 

in 1807 -         14,200 Pigs of Lead

in 1808 -	        18,000 – ditto –

and in 1809 - 	   24,000 – ditto –

estimated in 1810 41,600 – ditto –



and the produce which has thus so much increased already and is now calculated from the present returns, will continue to increase with the extensions of the workings.



The statement of Income of these Mines for next year is as follows.



41.600 Pigs of Lead making 2,723 Fodders 

  of 21 Cwts @ 32 £ p Fodder -	         87.136

Expenses of every kind for 52 weeks 

  @ 700 £pweek                      36,400

  Rent                               2,850  39,250

Net Income for 1810                        £47,886



The Building Stock, Machinery, Esklith Estate etc are valued at £116.124



			Derwent Mines

The Derwent Mines consist of Jeffries, Ramshaw, Shildon and Beldon now working, besides a vast tract of Country included in the Leases which there has not been time to explore but through which many Veins of Lead highly valuable are known to pass. These Mines are held by Leases Jeffreys and Shildon with the Royalties attached to them till June 1828 Ramshaw & Beldon with their Royalties till 1826 but all according to the custom of the Country are considered as renewable for ever –



Jeffries and Ramshaw though held by different Leases are contiguous and run into each other so as to form but one Mine.



Their estimated produce in 1810 is 1,411 

  Fodders of Lead which @ 32£                    45,152

Silver 18Oz pFo[dder] after allowing the 

  expense of Refining                             4,233

                                                 49,385

Expenditure for the Year                         18,720

Nett Income for 1810                            £30,665



At Shildon a very powerful Fire Engine has been erected but the workings are not expected to be complete before January next and to allow sufficient time the estimate is only taken from May.

This Mine will produce during the year 1810 

  847 Fodders of Lead which @ 32£ pFodder        27,104

Silver calculated as for Jeffreys                 2,541

                                                 29,645

Expenditure for the Year                         11,232

Nett Income for 1810                            £18,413



The workings of Beldon not being quite finished this Mine is not calculated to produce much Ore during 1810 and therefore although believed to be as valuable as any of the others no account is here taken either of the produce or value. It is calculated that the Derwent Mines will produce greatly more Ore in the following year and that they will go on progressively increasing with the extention of the workings as those of Arkendale have done. 

The Machinery Stock etc in these Mines is valued At £30.000 



It results from this Statement that the clear Income for next year with a certainty of great Increase in the following year will be

  Of Arkendale  £47,886

  Of Derwent     49,078

                £96,964



This on a Capital of £500.000 gives an Income of £19-10-7 pCent and besides allowing 5pCent Interest repays the whole Capital advanced in 5 ½ years after which time the produce of these Mines will be clear gain to the adventurers. – The present proprietors are fully sensible of the great sacrifice they make when they offer so large a portion of a concern brought to such a State of Profit by great exertions and a very large expenditure to the Public but having far outstretched their means and considering the increased energy which abundant Capital will give and the resources hardly even alluded to in this Paper which it will enable them  to develope they are persuaded that they not only consult their case but probably their advantage also in the resolution they have taken It ought to be added that the estimate of Produce and

Value are founded in the Arkendale Mines upon their actual Returns and in the Derwent Mines are taken from the inspection and calculations upon Oath of a body of experienced Mining Agents who were called in a few Months ago for a different object to survey them and Estimate their value.



The undermentioned Gentlemen have been appointed on Committee for enquiry into the above Statement of E H & Co

P. Crawford Bruce    Geo. Simpson        Patrick Hadow    G.W.Shellinson

J.P.Cockerell             Thos.P.Hampson   Ralph Sycester