To James Madison from John Rutherfoord, 25 May 1827
From John Rutherfoord
Richmond 25th. May 1827.
Dear Sir,
On this day week I received a letter from our mutual friend Mr. Edward Coles, requesting me to sell, as soon as I could, twenty shares of Farmers Bank Stock, standing in his and his Sister Betsey’s name, and to deposit the proceeds to your credit in the Bank of Virginia. Ninety two Dollars per share being the highest offer I could obtain for it at private sale, I determined in compliance with the advice of those best acquainted with the subject, to advertize it for sale at public auction. It was accordingly sold on yesterday at $93.65/100 per share. The auctioneers charge was fifty cents per share, which deducted from $1873—the gross amount of the Sale, leaves Eighteen hundred and sixty three Dollars, which I have this day received and deposited to your credit in the Bank of Virginia.
Mrs. R. requests to be affectionately remembered to Mrs. Madison and yourself. You will please present me also to Mrs. M. with sentiments of the highest esteem, and believe me, my dear Sir, with much reverence and respect, your friend & Servant,
J: Rutherfoord.1
RC (DLC). Docketed by JM, with his note on the top margin: “☞. $.120. interest to E. Coles on the loan of $2000. to be annually deposited in the Bank of the U.S. at Richmond—payable May 25—to his draft.”
1. John Rutherfoord (1792–1866), a graduate of the College of New Jersey, was president of the Mutual Assurance Society in Richmond. In 1816 he married Emily Ann Coles, the sister of Edward and Isaac A. Coles. Rutherfoord was a member of the House of Delegates, 1826–34, and the Virginia Council of State, 1839–41, and governor of Virginia, 1841–42 (Sobel and Raimo, Biographical Directory of the Governors, 4:1640).