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Your Favor of the 25th Ult was received on the 29 and has this day been laid before the Directors, as well as your Official Confirmation of the Agreement made with your Assistant Mr. Duer on the 17th of September respecting the Loan of 50,000 drs. Your Open Letter to our Collector was delivered to him directly and he has in consequence thereof, and in Conformity of the third Article in our...
We received your favor of the 6th. inst. and agreeable to your request we resolved to furnish the Treasury with the 20 000 dollars on Loan. This sum has since been paid to the Treasurer and his receipt taken for the amount the payment has been made 5000 dollars in our Banks notes and the residue in post notes at 30 days from the instant we dont find it prudent at present to Issue the Postnotes...
I have just received your Favor of the 14th Instant. the explanation you have drawn up in the Official Instrument now sent me, is Substantially ye purport of the Original Agreement as we understood it. I have now the pleasure to return you one of the two papers executed under the Seal of this Institution and my own Signature as president. We had never any Idea of passing the produce of the...
Yours of the 25th. did not reach me till yesterday noon. I call’d the Directors at 9 oClock this Morning and by the enclosure to the Treasurer with the Post Notes also sent him you will see that your application for a further Loan of twenty thousand dollars has been complied with; and I have no doubt that you will send forward a Treasury Warrant indorsed by the Secretary for the Amount...
We Reced your favor of the 3 Ins with its inclosures. One of the 15th being your Official Article of Agreement Respecting the third Loan being for twenty thousand Dollars the Recet of which you now acknowledge and say that the Treasr would by the same post send us a warrant for the Amot. We have only this moment Reced the Warrant from the Treasurer which has prevented our Returning [it] till...
I reced by the last post yours of the 17th. Inst with all its enclosures respecting the protest of the Treasury Drafts on Norfolk & this day they have been laid before the Directors. I thank you for the trouble you have taken in your free and full explanation of this disagreeable transaction. The mistake made in the Office considering the early State of the business, was a natural One, & I...
I have had this day the honor of your’s inclosing yr. power of Substitution on behalf of Mr. Church. At present the Sale of Stock, & indeed every other Money transaction is nearly at a stand. The Produce of the State, & the Sale of Bills of Exchange will alone command it, untill we receive a Supply from Sea. Mr. Constable has inform’d me of the purchase he had made of 20 Shares, & when they...
I have consulted the Directors on the Subject of yr. letter of the 8th Inst. in which you say you shall shortly have Occasion for a loan of 50,000 Drs. We found it necessary to stop our Discount last Week, & I think we shall not find it convenient to open it again for three or four Weeks to come. If yr. application shou’d be postponed till the Middle of next Month, I have no doubt but we shall...
The scarcity of Money has produced a stagnation in every kind of business, beyond any thing I have known—the few who have the command of Cash here, have turn’d their Eyes to Bills of Exchange—these have got as low, as 45 nay even to 42½ ⅌ Ct. & untill Exchange shall rise considerably, I dont expect to see any demand for Stock, or Public Certificates. A Single Share has been sold day by day, at...
In our last of the 12th Ulto. we had the honor to tell you, that it was probable we shou’d be in a situation by the middle of this Month to meet your application for a Loan of Fifty Thousand Dollars; but that if it became necessary for you to be accommodated sooner, & it shou’d be in our Power to do it, you might depend on our disposition to render you every facility we cou’d. We are now...