|Rowland Redmond, New York to William Young, Fenaghy Cullybackey
|Irish Emigration Database
|Co. Antrim, N.Ireland
|D1364/1/9: Presented by W.L. Young, Drewsteignton, Exeter, Devon.
|Public Record Office, N. Ireland
|Document added by LT, 15:09:1994.
|Atlantic New York January 22nd 1852
My Dear Willy
The accounts which I have received from New Orleans
are favourable of McDowell Mills & Co and I think the house safer
than they were supposed to be they have so far met all their
engagements and their work being for some time not good it is fair
to suppose that they have being going on with their own means and
resources. Your letter remains in New Orleans which is the best place
for it. I think it would be well for you to let me know from time to
time how the account between you stands. Lately there have not been
any failures in the dry goods trade but during the last months of 1851
there were several William hay escaped pretty well having only $5-6000
suspended and of course he will get something out of it.
This has been the severest winter for the last twenty years
and I hear everyone complain of the dullness and the small sales & poor
results. I suppose & hope that next month will be much more active.
I see very often Nicholson - Barclay - & Watson & Millar comparing goods
and the result is that gone are the dearest of the whole - this I think
applies to Brown Linen and that Class and to white under 40 cents I
think they don't compare higher priced goods - If you "salt" your
Invoices you pay duty on the extra price and get no benefit.
Good state stocks are very dear and it is hard to buy them to give
more than 5% - there are a great many railroad bonds upon which you can
get 7c 8% and likely they are good but I can't at present "see through"
them - The American almanack which William sent you last year gives much
information about state debts etc. - money "on call" is worth 6 - 7% and
2 - 6 months paper 8 - 10% - exchequer - 9 1/2 - 10% you will oblige me
by giving to your Mamma £25. and beg of her to be kind enough to send it
to Enniskillen to my mother - I have requested William to credit H.R.T.
with the amount in Dollars -
I like the weather clear and cold - the snow has not been off the ground
for a fortnight. I have not been to William's place for three weeks but
go tomorrow for a day or two, he is in town every day encouraging the
dry goods men to buy all his family well - I suppose you have heard
that his son Willy is in the office, he is a very fine steady lad -
with best love to your Mamma the little girls Sam & John and to your
Uncles and my friends Johnny & William Alexander
I remain your attached Cousin
Mr Will R - Redmond
P.S. In winter it will be for your interest to send your goods straight to
New York - the City of Pittsburgh after a passage of 43 days, to Philuon
lies at the Capes of the Delaware and the goods are not here, yet she
arrived ten days ago, The City of Manchester has arrived at the Capes
is icebound & when her goods will be here cant say - besides the Agents
send goods by propeller to this city & not by the Sail, condensing the
time and risque [risk?] of the sea -
The difference of between £3 & 4 per ton for the goods you send by
steam is so small that one would suppose you would prefer either the
Cunard or Collins Ships
23rd Here is a copy of a telegraph I have just received
New Orleans 21st January 1852
McDowell Mills & Co suspended today they owe Youngs two thousand
dollars in open sales which is quite safe goods on hand transferred -
I had hopes that the house would have weathered the storm, there having
been at NOrleans [New Orleans?] a very reverse pressure in the money
market at the end of last and beginning this year, which pressure had
nearly passed over. As soon as the details be received by mail I will
again write you - I enclose an extract from my letter of the 5th Inst.
to my agent Mr. Williams referring to your interest which will show you
that it has been watched up to the time I was at N.O. [New Orleans?] just
two years how McDowell & Peck were good, no doubt their failure will show
that the house has been doing business of a speculative character
R R [Rowland Redmond?]
[Addressed] William Young Esq.