| Description | Further observations respecting the agreement to be made with Glynn.
Soho, September 30th, 1808.
Dear Sir,
I proceed to notice in the first instance those points upon which we appear to be agreed. I assent to the terms which have been proposed for Mr. Glynn's engagement. It will be but equitable that an annual allowance in the form of rent should be made by him for the advance in the purchase of the fixtures and lease of the premises. The valuation of these items I should propose to be left to the judgement of an impartial surveyor of eminence. I shall not object to defray such a part of the expence incurred by your removal as you may think proper, upon a considerate estimate of it, to place to my account.
Upon the other topic of your letter, I am sorry there is not the same coincidence in our opinion. The event of Mr. Glynn's decease is only one of the contingencies to which I had reference in my observation as to the detrimental consequences of the separation of interests by the proposed principle of his engagement. Other circumstances may arise to render a modification of the terms expedient, or to create a necessity for anulling the compact with him, and exactly in the deliberation which such a contingency would occasion the effect I apprehend might be experienced.
You must be aware also that such a partial source of emolument to one of us might have a tendency to make the branch of the business from whence it is derived an undue object of attention, comparatively with the rest of the trade. Had the savings, the division of which has caused this discussion, been unforeseen at the time of my proposal to you, and the source of them unconnected with the general success of the business, there might have existed a reason for a peculiar appropriation of them. But they were full in our contemplation when the proposition was made, and form an integral part of the general arrangement which gave rise to it; in which point of view they ought not, I conceive, to form a seperate object of discussion.
Let me hope that in this view of the subject I shall not be without your concurrence. I am, sir,
Yours truly,
M. Robinson Boulton
PS. A letter has been written to Mr. M. Jones with a copy of Mr. Weston's form of guarantee. The die for the new foot is in hand, both for the leaf and paw. We are making progress, tho' not rapidly, towards the settlement of the books, and shall be prepared to meet Mr. Rhodes in court, for thither I presume we shall ultimately proceed. Mr. R. has (contrary to the advice of Mr. Whately) . . . [The copy is incomplete.]
[Edited transcript.] |