Record

D3580 - Longsdon family of Little Longstone - [14th-20th Cent]
- C - Correspondence

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Archive Reference / Library Class No.	D3580/C/607
Title	TW Smith & Co at Liverpool to William Longsdon esq. at Liverpool: instructions consequent on agreement for William to undertake management of branch of firm at New York. New York in ordinary course of American business point through which greater bulk of money transactions of country pass and as they have little or no local business with that place - agents duties in main accepting bills drawn on the firm in New York from the south and such atlantic parts which they have agents who ship cotton. At maturity of bills reimburse self upon Liverpool or London branch which ever convenient, generally about 2/3 Liverpool 1/3 London but matter of no great importance. Their funds being pretty full occupied these requisitions must be made for cash. As general rule all orders for insurance will be forwarded to Liverpool except cotton which comes down from Columbay which must be covered by policies at New York as soon as advised. Against river, fire or marine risk either to New York or Liverpool can usually be done at 2½%.Added to the above he will have an upper policy to provide against any cotton that may be sent down without timely advice - this might be for about £20,000. From time to time communicate their views and his own to their friends in different parts of the states with whom they are in active correspondence and transmit them copies of what may strike him as interesting in their correspodnence. Mr Gronpelnis will put him in possession of whatever orders he may have placed in hands of their various correspondente for purpose of influencing cotton to their address together with necessary instructions relative to advances they will have to draw against same. Mr Jockmuss who will be resident in Columbus will give all particulars of what Mr Davis may do for them in Columbus and keep him fully advised from time to time of state of accounts in that place. Will also give him names and standing of their friends in different parts of states and nature of transactions that have had with them. Relative to any proposals of business that may be made to him in New York, very difficult to give any but general instructions - leave him fully at liberty to enter into any transactions he considers safe and advantageous which do not involve a cash advance on part of the house which in the present state of their balance they wish strictly to be avoided. Not infequently happens that highly respectable houses in the states send their agents here for the purchase of dry goods at Manchester and open a credit for them in Liverpool which is used by the manufacturer drawing at 4 months on Liverpool house who ship goods and charges 1% banking commission at 2/6 per package for forwarding, the New York house remitting funds to meet maturity of bills. This business is a good one if he can depend on the house in New York and might be entertained with parties on whom thoroughly rely to extent of £5,000 on any one account. Orders for Railway Iron may be obtained also from responsible people who send good bills on receipt of bill of lading. In passing his bills they do not anticipate any necessity to avail himself of credit with Dr Rhum and Co Prime Ward & Co, the other parties but should strict necessity arise he will find Prime Ward and King & Christmas Livingtone to be the most reasonable in their charges - former charge 1% the latter ½% for negotiating. Accompanied as he will be on his voyage and by Mr Jockmuss who is thoroughly acquainted with every department of their business, hardly necessary to go into further detail. So implicit confidence in William's character, discretion that shall most cheerfully at all times guarantee any transactions he may think proper to enter into in their behalf of whatever nature they may be.
Date	15 Oct 1838
Level	file
Repository	Derbyshire Record Office
Archive Creator	Longsdon family of Little Longstone

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