To George Washington from Thomas Newton, Jr., 30 September 1795
From Thomas Newton, Jr.
Norfolk [Va.] 30. Septr 1795.
Dr Sir
I now inclose you Mr I. Sexton state of the D.S. Co. as far as I cou’d obtain it whch I think may be depended on,1 I am very certain it is in a flourishing way, as the Company are punctual in paying the subscription, of 20 Shares to the canal, which will also be very valuable when finished, these shares alone I shou’d think worth if the Canal was at work at least 200£ the subscription is only £75. but there must be additional to finish it. shou’d I get any further information I will forward it & am respectfully Yr Obt Servt
Thos Newton
ALS, DLC:GW.
1. Isaac Sexton of Nansemond County, Va., was a stockholder in the Dismal Swamp Canal. He was involved in cutting timber and accused by some of taking timber from Canal Co. land. In 1792 he supplied shingles to Mount Vernon (see North Carolina Historical and Genealogical Register, 1 [1900], 431–32; 363; and Tobias Lear to Lovell and Urquhart, 16 Dec. 1792, n.1). Sexton’s statement of 30 Sept. noted that because of the “increasing value of the Juniper timber … the land in a few years will be very valuable far exceedg the present prices on £1000 ⅌ Share.” Shingles had “an annual rise in price about 10 ⅌Cent.” Since the land primarily contained such timber, “it must be presum’d that the same ⅌Ct is annually to be added on the prices of the land.” Sexton closed his letter with comments about the advantages of a presence at Smith’s Mill and of hiring a person to work there and with the timber. He promised to take every effort to find such an individual (DLC:GW).