| Description | "Valuation of premises by Skinner & Co. Other arrangements. Bright & Co.’s account."
Soho, October 18th, 1808.
Dear Sir,
I have requested Mr. Woodward to confer with you about the appointment of a surveyor for the valuation of your lease and the fixtures of the warehouse, so that I suppose that business is, or will be soon, in a proper train. In the mean time, your brother may prepare the necessary deeds for the transfer of the lease; it had better be made in my name, in order to avoid troubling my father on the occasion. I trust, from what I have already stated respecting Mr. Glynn's remuneration, you will have sufficiently collected my ideas of the amount to conclude the agreement with him. Lest, however, that you should expect from me a more detailed statement of them, I have subjoined several different propositions, to any of which, or with any modification which you may think more eligible, I am ready to agree-
1st proposition
1st and 2d year 3 per cent on sales = about 540 with allowance for clerk's
salary, etc., if you [think] it
necessary, same as heretofore.
3rd and 4th year 3/5 on ditto = 630
5 and 6 4 720
7 4/5 810 and afterwards.
or 2d proposition
1st, 2d, and
3rd year at 3/5 630 with same allowance
4, 5, 6 4 720
7 4/5 810
or 3d proposition
1st & 2d. 3 per cent. 540 with same allowance
3, 4, 5 4 per cent. 720
6 and 7 4/5 810 and after the conclusion 5 per cent.
A memorandum of the terms of the rent will be proper, but he should be considered as tenant at will to the firm; the propriety of this precaution will readily strike you.
These preliminaries being settled, I think the details of the arrangement between ourselves cannot be difficult to bring to a conclusion, and certainly not by a conference, which would be much the shortest mode. I think, therefore, when you have put matters in town into a satisfactory train or (what will be better) actually carried our propositions into effect, it would be the most expedient measure for you to pay another visit to Soho. Every point can then be settled, you will have an opportunity of looking out for a residence, and the arrangements of the manufactory can undergo a revision. Of course, the expences attending both journies I shall readily defray. I have not yet heard Mr. Dixon's return, but from what your last letter to Mr. Gill mentioned of his motions I presume he will soon make his appearance.
Bright called here last Wednesday and brought with him the amended letter of guarantee from Mr. Jones. We had a long discussion about the terms of credit, or rather he made a long harangue upon his misfortune and uniform attachment to the firm. He seems willing to extend his orders if we should think it prudent and consent to let the connexion remain on its former footing. Nothing was definitively settled, as I wish'd to have some explanations from you before I gave him a final answer. This affair may be canvassed when we meet; in the interim I shall examine into the state of his account, the amount of which I presume is covered by the guarantee. Has any thing been done in regard to the returned draft upon him?
I remain, dear sir,
Yours truly,
M. Robn. Boulton
[Edited transcript.] |