Page:1898 NB Magazine.djvu/287

"Respecting the mills which are building here in which I have an interest, the whole expense of them when compleated will be about, and not more than, £2,000. At present I hold 8 sixteenths, Bliss (our Attorney General) 2 sixteenths, Mr. Hazen (my father-in-law) and a Mr. White 6 sixteenths. Of this last share 2 sixteenths, Mr. White's proportion, will be to be disposed of and George Leonard, who is expected out from England every day, has the promise of it if he inclines to take it, but I doubt much if he will have the money to spare. If it is too small I would get you 4 sixteenths if you wish by transferring to you 2 sixteenths of my own. I can only say on the subject, that if I had it in my power I should be glad to take it myself as I think there cannot be a doubt that in the worst of times the mills will yield at least 20 per cent, and if the Province grows, as I think must be the case, a much larger profit will be realized. Mr. Hazen has the principal management of the business so that you will be sure of punctual remittal of your share of the profits. I need not add how much ay own inclination and wishes are interested to have you a Partner in the concern if compatible with your other views. If this proposal meets with your approbation let me know in your next in what manner your proportion of the purchase will be advanced; let me know also what is the present price of wheat in your market. I should not have written you anything on this subject, intending to propose it upon your coming this way this summer, which from your last letter I now despair of. You would then have seen the mills and their situation, which is the only one for mills below the Falls, and being Tide mills and in an harbor which never freezes, can never have an impediment to their going. There is also a saw mill upon the same dam.

When I speak of the above profits, I mean only what will in all human probability arise from the Toll—but the moment we can employ any capital in the purchase of Grain for manufacturing, the profits will be more than double.

We hold the grounds, mill privileges, etc., for twenty-one years commencing last January at the rent of £25 currency annually. At the end of the term the Lessors are to pay us the full value of all our improvements or to extend the lease a further term at the same rent, and so "toties quoties." * * Our contracts are made for compleating the whole this summer; let me know by the first opportunity your determination."