To George Washington from Tobias Lear, 20 May 1795
From Tobias Lear
George Town [D.C.] May 20th 1795
My dear Sir,
Shares may at this moment be bought in Alexandria Bank at par—and those of the Bank of Columbia at one per Cent under par. The Shares of the Alexandria Bank are 200 dollars each— and a dividend, of 6 Months interest at the rate of 9 or 10 per Cent per Annum will take place in July; but the present want of Cash operates to keep the shares down altho’ the period of receiving the interest is so near at hand. 30 dollars pr share has been paid on the shares of the Columbia Bank—and another payment of ten dollars on each share will be made in June. I would advise to invest in both Banks. Should you conclude to purchase, and will let me know the number of Shares you wish in each I will obtain them. The difference between purchasing with Cash & a Credit of 60 days is at least 3 per cent. With the most sincere attachment & perfect respect, I have the honor to be my dear Sir, Your affectionate & faithful friend
Tobias Lear
P.S. Since writing & closing this letter, Your respected favor of the 17th inst. has been received—and the directions therein contained shall be attended to.1
T.L.
ALS, DLC:GW.
1. On 17 May, GW had notified Lear, “About the sum which is due to me from your house, I owe the Commissioners of the federal city. Let me request you therefore to ascertain—pay—and transmit the account thereof to me. If in doing this the balance shall be against me, it shall be paid to your order—if in my favor let it remain there ’till called for” (ALS, owned [1985] by Lidie Flammia, Clearwater, Fla.; ALS [photo of letterpress copy], DSI; LB, DLC:GW).