| Description | (Two draft letters on one sheet. Cp. Samuel Wyatt to Boulton & Watt, 5 May, in the Boulton & Watt Collection.)
In respect to the Contents of your letter to B & W of ye 21 Int we agree with you in wishing the A M Co. had behaved otherways. Previous to the reception of Yours we had wrote them that we declined augmenting our Stock in that Co or takeing any Part of your Share & you know that one reason is because MB cannot spare the Money. And yet upon 2d thought we are afraid that our refusal may be the means of your makeing Your escape out of the Concern which we should be very sorry to be instrumental in Hence you will perceive we are in a Cleft Stick & therefore will venture to make to You the following Proposition as the only one we can now think of that will not incommode our Selves nor prevent you from accomplishing your point in a certain degree Viz-Suppose we were to agree with the Co. to take one fifth of your 2833..6..8 = 566..13..4 & they to take ye remainder-2266-13-4 this we will do provided you will consent to take that sum of 566..13..4 on your own acct. although it stand in our Name in the Cos. books
We have recvd a letter from Mr Wt. to the same Purport as that you have sent us a Copy of which we will answer so soon as we receive yours to the foregoing.
[Below this are the following notes, not apparently part of the letter.]
Suppose the A M Acct. wth Matthews to be settled from the begining & he to have 5 per Cent & his Capital returnd Viz BW 566. 13. 4
A Ml Co 2266. 13. 4
£ 2833. 6. 8
N:B: The A Ml have always pd 5 per Ct.
see the amt of the Engine Profits he hath recvd & ye interest & then if I was to conform to W: M: claim see what it wd amt to
We observe by Yr. favr. of ye 21 that the Albn. Ml Compy are willing, to pay Mr. Mattws. 2833-6-8 as an equivalent for his 1/3 of 1/5 Share i:e: for his 1/15 of that concern provided it is agreeable to us to take the whole or to divide it with the other Parties into 5 Shares
We have already wrote to you our sentiments upon this head & again repeat that it will be inconvt. & disagreeable to us to increase our Capital or our Shares in that concern Particularly as we hold our selves bound in honour to indemnify Mr Mattws. in some degree for the Loss sustaind by his takeing shares at our request. But perceiving that his firm resolutions to withdraw may be productive of Uneasiness, Lawsuits, & perhaps a derangement of the whole concern We on these considerations (if the Compy insist upon it) will agree that Mr Mattws. share shall be taken by the Compy at large & divided amongst them in Proportn. to the Shares they now respectivly hold by which means our proportion will be 1/7 of ye sd share or 404£..15s..3d.. however we must say it wd be more agreeable to us if you could enlist another Partner to take the whole of the sd share
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