| Title: | Edward King, New York to Rowland Redmond, London. |
|---|---|
| ID | 3528 |
| Collection | Irish Emigration Database |
| File | king, edward/10 |
| Year | 1866 |
| Sender | King, Edward |
| Sender Gender | male |
| Sender Occupation | stockbroker |
| Sender Religion | unknown |
| Origin | New York, USA |
| Destination | London, England |
| Recipient | Redmond, Rowland |
| Recipient Gender | male |
| Relationship | business |
| Source | D 1364/I/21: Presented by W.L. Young Esq., The Old Rectory, Drewsteignton, Exeter, Devon. |
| Archive | The Public Record Office, Northern Ireland. |
| Doc. No. | 9011062 |
| Date | 13/03/1866 |
| Partial Date | |
| Doc. Type | EMG |
| Log | Action By Date Document added by B.W. 17:01:1993 |
| Word Count | 772 |
| Genre | |
| Note | |
| Transcript | 4 Hanover St [Street?] New York March 12th 1866 Rowland Redmond Esq Care of Mess[Messrs?] Brown Shipley Co. London My dear Sir You will think I have taken a long time to answer your kind letter of 31 Jany [Janurary?] the fact is since we moved the stock exchange Some 3 or 4 months ago into our new building in Broad St. [Street?] the Board has increased the number of daily sessions, so that when I get back to my office at 4 pm I generally feel pretty well used up & consequently disinclined to do any thing more than I can possibly help. If all there [their?] sessions only brought in a corresponding ammount of business I would not mind but commission business has been very dull for several months - as for "[linen?]" the market has been a very difficult one cooperate in principally cliques, so that one has to do a good deal of fishing without much result _ nibbles frequently proving only 'nibbles' _ Taxes on the other hand are disgusting. There I have had my growl, so will go on to something else! I enclose your accounts made up to 1 [st?] nov 65 - showing a Ballance at your credit of $41948.70 and a debit of a/c [account?] W.S.R [?] of $20340.76 -. On 1 [st?] nov. I credited the latter a/c [account?] for 100Shs [Shares?] Chicago [___?] for which I sold at 106 _ thinking I was doing you a service in making the profit thereon [thereupon?] - it continued dull for some time & lately took a jump up to about 120 - on the strength of a big dividend. Today it still rules at 116 @ 118 Meanwhile I undertook cooperate in a hundred shares of [lanten?] for you, in special information that it was likely to advance materially - I made a few turns when the confounded thing became dull - the result is I hold 100 Shs[Shares?] for the a/c [account?] which hand in about 41 1/4 - the present price is 43 3/4 @ 44 - I am still assured that it is going up and in that hope am holding on. On regard to your Mariposa - I was strongly advised to hold on to it & believing a good deal in obituialley [habitually?] maintaining one position until events & time bring out a good result. I have followed the advice _ The Coy [Company?] issued a Preference stock to such holders of the old stock as would pay in $5 per share & agreed to recieve payment in a scrip's which they issued to the Bondholders in exchange for unpaid [-------?] coupons – #PAGE 2 I [----?] [bought?] $1000 Scrip's at 80- which enabled me to convert your common stock into P'f'd [preferred?] at a difference of $4 per share instead of $5 - and have since then sold your preferred stock [----?] [bought?] back the common at a difference exceeding $5 per share - this operation I have repeated once or twice, so that it has diminished the cost of the stock one or two per cent - you now hold 200 shares of that common stock - I confess it is very annoying to have it continue so low - so dull - My information came from an excillent [excellent?] source - who still feels very confident of one day obtaining at least 30 for the common stock - but hope deferred is rather more than no hope at all. Still the new processes for obtaining the gold from the ore are highly spoken of I ought to produce a good result. Some of the Colerado [Colorado?] gold Coys [Companies?] have advanced materially in price in concequence [consequence?] I cannot help thinking that Mariposa must yet have its twice. Mr Wm [William?] Redmond has paid in sundry amounts to your credit - your a/cs [accounts?] stand today $8547.82 at debit of a/c [account?] W.F.R. $47138.73 . credit of your own a/c [account?] - - I had hoped to have made your a/c [account?] more active - but our stock market has been a declining one - and I do not make a good "Bear"- All my instincts & courage are the other way. The only comfort I can give you therefore is that I have not let you in to any "good thing" or lost you any money for you - and am in so far at least better than the man with "one talent" that you will recieve your own if not with using at least with 0% interest at your coming - I am delighted to hear that this will take place in May - and shall hope to welcome you back with |
