Mr Baring has concluded, notwithstanding Mr Pichon’s entreaties, not to take the stock till we shall have heard from New Orleans. He urges that it is not just that the risk, however improbable the event, of our not obtaining possession should fall on him; which he says would be the case if he gave a receipt for the stock before we know that we have possession. I offered to give him the certificates leaving the date of interest in blank, we agreeing merely that it should be filled with the day of taking possession whenever known; and I told him that next week, being the last of the three months I would insist on his taking the stock, & on his refusal would deliver it to Mr Pichon. He says that in that case he will take it, as our forcing it upon him will be a pledge of our obligation to pay even if we should not obtain possession. As Mr Pichon is much disappointed, I beg that the moment you may hear from New Orleans, you will have the goodness to drop me a line stating the day when possession was obtained.

Respectfully Your most obedt. Servt.