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Title: Rowland Redmond, [New York?] to [Will Young?], [Ballymena?], [Co. Antrim?].
CollectionIrish Emigration Database
FileRedmond, Roland/2
SenderRedmond, Roland
Sender Gendermale
Sender Occupationmerchant
Sender Religionunknown
OriginNYC, USA
DestinationCo. Antrim, N.Ireland
RecipientYoung, William
Recipient Gendermale
Relationshipcousins, business
SourceD 1364/I/11: Presented by W.L. Young Esq., The Old Rectory, Drewsteignton, Exeter, Devon
ArchiveThe Public Record Office, Northern Ireland.
Doc. No.95010156
Partial Date
Doc. TypeEMG
LogDocument added by LT/JW, 18:01:1995.
Word Count1030
TranscriptNo 7 Grammerey Park
11 Jany 1857

My dear Willie
Being a little "under the weather" from a
cold I have returned early to my lodgings from the club
from dinner and I devote a part of the night to write you
and acknowledge your notes of the 3rd & 24th ulto:
We have tried our best to get young armstrong some
employment but so far without success, and it grieves me
when I see him Come in to the office, that I have nothing but
hope for him. Poor fellow, for I have a good opinion of him,
he is so much discouraged that he thought of returning home
by the Battie on Saturday, but I told him emphatically
that he must not despond, but "stick to the ship", for some-
thing must "turn up" by & by, something would have "turned
up long ago but for the destressing [distressing?] times, Before he came
out Watson wanted a youngster & would have taken
him, but the time came, and Watson instead of enclosing
is disposed to diminish his expenses.
I have no fear but that he will obtain a distinction
& I trust one very long.
What you say of [-----?] affairs is far better than I expected
or than any one here expects, He will be able to settle his
business debts no doubt, but his stock deficiencies will
remain. I heard word [?] that his deficiencies on stocks were
immense. I mentioned the idea which I heard, that he had
made a "[-----?] in Reading", to my informant / a large stock
[----?] / He said it could not be, & then mentioned the stock
deficiencies. However I keep to myself not only what you
wrote but what the stock Broker says B-
You all wonder I find that I have not plunged on to Reading
I have just made an a/current of 1000 [shares?] supposed
purchased the day of my arrival 27th novbr: there it is -
1000 shares cost 52/2 ............$26250:00
1/8 % Brokerage ............ 125:00
45% to 11 Jany at 6% ............ 198:00
loss in exchange 1% ............ 263:00
1000 sold today at 58% - the cash price $29250
less 1/8% Brokerage ........... 125 29125:00

Profit $2299:00
and I should have been obliged to sell the stock today remit
you so as to keep you, in time, free of cash advance.
The difference for my Bills on Ireland and the class of Bills
I would only take would be at least 1% - such is the
Exchange market here. And my bills on you are better
to my taste than any I could buy.
Now I want to know from you all if a profit of less
than 500 pounds between us is temptation enough to run the risk
of the market and the risk of remittance,
The Reading loan drags at 65.70. what can be the end
of each business. [--ing?] 100 for 70 & paying 6% in 100 $ nothing
can stand it. My belief is that almost every R Road in the
country will sooner or later, be litigated into the hands
of the Bond Holders. It seems to me that the business of the
fellows about R Roads is to concoct traps, & as soon as
one trap catches they cast about to set another, no R
Road in the Country was ever begun & scarcely one carried on
but with a desire, determination, to cheat. some plan laid
to palm off the scheme on the public, & let the Plotters out
with immense profits. I am thoroughly disgusted at the
same time I fully believe that had the R Roads [railroads?]
been honestly administered they would have paid, for I believe
in the principle. You will see that the La [-----?] bonds
have risen with very small sales from 30.41 - I am
afraid that they are simulated sales. Its a bad concern
and if the loss was not so great I would set one but, if
I could, I feel that I ought to sell.
There has been a rise of 5.7 % last few days in the [---?]
state stocks and they are still reasonable for a man
for investment. I expect to see your [-------?] after
There is a great scarcity of a Mercantile [?] paper & at the
moment there is not likely to be an increase, so Capitalists
are buying the state stocks, and they are right I think.
Money is likely to be 3% with you before than left there
will be a glut of money bookings for safety and it
wont be able to find it out of the funds, people are likely
to go from one extreme to the other.
Three or four large auction [b---?] of buy goods this week
& I am curious to know exactly how they will [-----?]
I should think that importations will be greatly curtailed
this evening which will enable holders to sell old stocks
and owners of them will have to submit to large losses,
we must wait & see how the spring business will go
I am afraid that the auctioneers will have much to do,
The large sale William gave you per last packet was to
Davies & Jones & I think he would like to sell to other equally
good houses as much on same terms, I am going south on
saturday I hope I may get some cotton reasonable, yet the late
I am expected here in Lpool is against me, however I have nothing
to do here & I dont like the climate.
You dont mention [----?] in your last note, its a good sign
I hope she is quite well. your mother & the girls would be
great disappointed at missing sabina. Yours
affectionately son
Rowland Redmond
William will tell you that the Troy [?] & Bennington did not pay
on 1st Inst: the leaving of the Bond makes principal & Interest one
or non payment of either & William has written to Troy [?], thanking
the exaction of his rights. We will see what reply to the threat.