From Gustavus Scott
Geo[rge] Town [Md.] 29th April 1797.
I had the Honor of your favor of the 28th so late on Friday that I cou’d not answer it by Post, not having returned from the City untill the Mail was dispatched.1 The inclosed Letter from Mr Smith will give the true state of Messrs Reed and Fords funds in this place. The paper he aludes to will I think ensure after some time the number of Shares still due on their Contract & Mr Smith asures me he will take the earliest Opportunity of procuring them. I shall not lose sight of this business untill brought to a just Conclusion.2 I am with sentiments of the highest Respect & Esteem Dr sir Yr mo. obt servt
1. Letter not found.
2. The enclosed letter of the same date to Scott from Walter Smith reads: “I will briefly state to you what information I am possessed of relative to Reed & Ford’s obligation for the transfer of 70 shares of Columbia Bank stock & the prospects which I have of raising it. They some time since advised me of the obligation & requested that if it should be presented to mr Lingan or myself we would make the transfer & take it up—On an adjustment of their ⟨account⟩ of shares I found they held but twenty one which I directly informed them of & desired them to make provision for the remainder—in answer they told me the account did not correspond with th[e]irs & at same time enclosed mr Balls power for the transfer of 20 shares, which being informed would not be received at Bank—this was afterwards corrected & with the 21 shares which they before held makes the amount I have transferred. They appear to lay under a mistake with respect to the number of their shares, I forwarded them a copy of their accot from the books of the Bank, an answer to which in the ordinary course of post I expect to recieve on Wednesday or Friday next. I before mentioned to you that I had the controul of some notes (undoubtedly very good) [of] their property, which I was desirous to invest in Bank stock as far as would ⟨cover⟩ the deficiency yet due on their obligatio⟨n—⟩ The only objection which can be to this paper is the length of time it has to run but I have endeavoured to obviate this difficulty by the large discount which I proposed to make—I shall continue my endeavours to effect a negotiation this way, and if I should succeed will immediately advise” (DLC:GW).