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Mr Watt
Soho March 26-1791
Dear Sir
I recvd yours of the 24th, By which I am sorry to see that ye A M: is likely to be 10 Ml. on the wrong side & when I reflect that it was the unanimous opineon & decission of all the Members on the 8 & 15th Jany that the Stock of wheat should be lessend & some of our great debts paid off & no more Wheat bought than was necessary to preserve appearances. this I say was the determination of all parties & now to find that instead of paying off a large sum they have borrowd 7000£ since that time What could one reasonably expect from such sort of Management but ruin However this is not the time for reproach
I am resolved to apply a pump to my Water wheel, one that would require about 8 Horses to throw water over ye big building for if the late Fire had not been discoverd before the usual hour of coming to work we could not have extinguished it by any means in our power. My Extinguishing Engine has long been in ye possession & under the Care of Mr Roberts who had not deliverd they key of ye Gate wch. was purposly made to take it out at & when it came to be used it was found totaly useless, every part about it was deranged & the wooden body of it would not hold the least water Pray be so good as to enquire if there are any of the parts of the Extinguishing engine which Bramer made for the A Ml., escaped the Flames & if there are I should be glad to buy them at a reasonable price as I think they might be applyd to our intended Soho Engine
I should be glad to hear at your leasure what news there is from Spain
I think it most essentialy necessary that we should exert every means in our power to convince the publick of the Utility of one such Mill as the Albion in the Capital, of the great saveings it has made, & the liberal Conduct of the Company & after all to have it set fire to by Vile incendiaries. Convince ye K & Ld K: & the Nation & all Europe that it was willfully burnt & that We & the proprietors have been hardly used for doing that which in other Countries would have been rewarded with Riches & Honours
I wish you would call at Pybuss's Banking house in new bond Street. Mr Pybuss is a good natured man & will send for Call & Grant as they live near & I am sure they would be happy in haveing a private conversation with you
Dont forget to send me what ever is published in our favor
I have a letter to day from Rt Wr. Fox saying that they have been obliged on acct. of the Floods to use the 2d Engine of Polgooth dureing their inundation & as the Mine was loosing dureing that time they hope we will forgive the dues of that 2d Engine for the short time it was used-He also says they are going to put Hewas Tin mine to work near St. Austle & wishes to know if we will take a part. I shall acknowledge the letter & wave answering the points 'till We have consulted together.
I herewith send you the Paper which Mr Wilson hath given to some Cornish Gentn. I have gone over the Calculations & 'tho there is some small Errors yet I find that Hornblowers Engine is 12 times worse than ours even 12 times worse than Ale & Cakes used to be, which is a single Engine I therefore think we may attack them boldly as their Cause is feeble & ours Strong.
I also send you a letter of Mr Wilsons with an Acct. of several of our Engines in Cornwall but Qr. if it is prudent for him to publish it at present
You will probably see Wilson before this reaches You & therefore 'tis proper to tell you that by a letter we have lately recvd from Mr Townend it appears to me that they have contracted for all their Copper in London or going to do & that they now decline letting Mr Hurd or Self have the 200 Ton or any of the Shares, at least at 650 £
The facts are as follows. Novr 29th Mr Wilson (armd with powers from his Company) enterd into a written Agreement upon Stamps to furnish B & H: with 200 Ton of Copper annualy for Three Years at a price therein fixed & he added that the Company would accomodate us with 5 or 10 Thousd pounds if Wanted Mr Wilson at the same time urged us to take some Shares in the Smelting works & left with us a written Paper of which the following is a Copy
Mr Fenton & Townend will sell 4 or 6 or 8 Shares in the smelting Works to Mr Boulton at 650 £ Pr Share & for no less & if not convenient to pay immediately, to pay 5 per Ct. in 6 Months from that time & added that we might Consider of it & give our answer any time in 3 or 4 Months
Mr Hurd & I agreed to take 4 Shares & I accordingly wrote Mr Wilson in Janry that Mr Hurd & I were desireous to take, for our selves, 4 Shares & we believd Mr Watt wd. take two for himself but as he was not well the day I wrote I said we could not possitively answer for him by that Post which implyd that We possitively answerd for our Selves
When Mr Wilson was in London he found he could contract with Wms. for all the Copper & since then Mr Townend hath found he could do better both for the 200 Ton Copper & for the Shares although Mr Wilson had taught us to believe the Shares would produce as much at the next settleing as they have produced-You know what a little hole Mr Townend creeps out at respecting your 2 Shares but I dont see any that he can with honour escape at respecting B & H: 4 Shares at 650 nor ye 200 Ton
Mr Hurd is quite warm about it & says he can furnish what ever more money may be wanted over & above the present Capital employd in the Copper Trade more particularly as we know how to dispose of 100 Ton per Yr. to Profit without being in advance I must therefore request the favr. of You, in your conversation with Mr Wilson, not to give him any reason to hope that we will give up any Part of our Agreemt. with him for 200 Ton or relinquish our Claim to 4 Shares at 650£ which were possitively accepted long before they took Stock & long within the time allowd us to give our Answer. If Mr Wilson hath any new or other Proposel to make B & Hd. they are disposed to accomodate & be good humourd
I have in Conjunction wth Hurd wrote Mr Wilson very fully upon the subject
I must secure to my self a supply of Copper upon the lowest terms by which I can employ my Rolling-mill the Expence of wch. including rent is 22 £ a Week & now I have full work I am gaining nearly that sum, instead of loosing, as I should do with only half work for it. Every day convinces me that I have nothing to expect from Willms. but opposition. If I can secure Copper at a low price I can supply my Rolling, my Cutting out & my Coining mill & without it I cannot
I have lately had much vexation by the want of harmony between Lawson & Bouch. The last nigh or rather this morng 'tween 12 & 1 oClock they even got to Blows
The only work I have given Mr Lawson Charge of is the multiplication of the Dies & the Care of one Press with the office of Inspector of the 2 fire Engines. I complain little but the facts are: my Money is struck with bad Dies even with Dies that have struck more than 3 Ton & now we have not one new Die to Change whereas a Man of Business would in 2 Days have made all the Dies that ye 30 Ton of larg pieces wd. require. And as to the Presses One of them doth not miss two Blows Pr Day & two others go tolorable well but Mr Lawson says Bouch doth not understand them However I am sorry to say that Lawsons Press stands more hours than it works, & breaks more arms than all the rest which arises chiefly from bad execution Lawson talks of leaving as he is so dissatisfyd Qr. if he could not be usefull to B & W: in the Engine line at home or abroad I realy know not what to do about him. I could wish to see him settled in some line & not turnd loose into ye world I shall never complain how little he doth provided that little was well & punctualy done
We begin on Tuesday to strike the 2d size pieces & I have taken upon me the managemt. for the first week in order to shew that more beautyfull money may be made at as little or less Expence
Lawson hath made a new Pr. Dies for Garbetts money but hath spoild them & G: is vexed I can perceive [all money Dies should be round on ye face but all L hath made are hollow & thereby the middle Part doth not come up
Remember me to Mr & Mrs Ms. & believe me ever
Yours sincerly
M Boulton] |