John Barnes’s Memorandum on William Short’s Account, 22 June 1802
John Barnes’s Memorandum on William Short’s Account
Memom. 22d June 1802. to shew the President US.
JB. wrote WShort 20th feby (tho not forwarded untill April—) this letter covered his a/c up to 18 feby. than Balance $3347 39/ in his favr—purporting JB intintions of purchasing $4000. 6 pCt deferred.—but owing to Various disappointmts. rise in Stock &c. &c. no purchase was affected—
on or abt. 15 May. JB. had drafted a letter which he proposed forwarding—but was not sent, expecting daily to effect a purchase— abt. this period JB. presume the President. wrote WShort. to same effect—
Now the purchase is compleated—altho at an advance price (unavoidable) owing to the unexpected continued Advance of the Market. and still rising—JB. flatters himself Mr Short will— notwithstandg. Approve—as well his a/c Annexed and therewith the Certificate No 1629. for the above $4000 6 pCt. deferred. which JB. hand to the President US.—and subjoins a draft of his intended letter to WShort—to accompany, his a/c up to 22d. June 1802.— present Also Genl Kosciusko a/c (Copy, 15 May—)
MS (DLC: William Short Papers); entirely in Barnes’s hand; endorsed by Barnes; endorsed by TJ: “Short Wm. Barnes’s statemt.” Enclosures: (1) Barnes to William Short, 22 June 1802, informing Short that he has finally purchased $4,000 of United States stock for him; although the price was unfavorable, Barnes thought it best to purchase now rather than risk another advance in price; the purchase includes two months’ interest on the shares, not payable until 1 Oct., which reduced the purchase price below par; Barnes also includes a statement of Short’s account, with a balance in Short’s favor of $154.94, and a letter for Short addressed to Barnes’s care, which Barnes presumes to be a letter from his brother; Barnes assures Short that he will pay every attention toward increasing Short’s public stock holdings “under the direction of the good President, to whom I yesterday presented said Certificate as well Copy of a/c &c.”; Barnes also includes a list of stock prices at New York on the verso (Tr in same, endorsed by TJ: “Wm. Short. J. Barnes’s lre & acct. June 22 1802”). (2) Copy of Tadeusz Kosciuszko’s account with Barnes, 23 June 1800 to 15 May 1802 (Tr in MHi, endorsed by TJ: “Kosciuzko Genl. his acct with mr Barnes to May 15 1802”; see Barnes to TJ, 21 May 1802).