| Description | Part of a draft Letter (in pencil) from E.D. (Edward Downes); possibly to a lawyer; apparently an insert to be put into another document, since the text begins with an asterisk reference mark
Transcript;-
*From this part the affairs are now in/ a different State which I will briefly ex/plain. The Worth Lands Freehold & Colliery were/ Sold -- & with that money The Shrigley Estate/ Copyhold cleared and reconveyed to The Trustees. The Butley/ Freehold, & the ground Rent was sold, & thereby the/ Bollington, Rainow, & Hurdsfield Property, Copyhold/ cleared, & reconveyed to the Trustees -- 20£ a year/ freehold was reserved at Butley, as there is a pros/pect of its being valuable building land from/ the neighbourhood of a factory. Of This the Trus/tees keep possession & receive the Rent. After/ All the remaining Estates were fully cleared & all bond & simple contract debts paid there re/mained nearly enough to pay the three younger/ children's fortunes & the small debts due to them/ whenever they could be received. Bridget came/ of age, & received hers, which she lends to/ Me on the security of my reversion to the Shrigley/ Estate because Mr. Wright still keeps the legal/ estate of every thing. Sarah wants 4 years of/ being of age, but may demand her fortune sooner if/ (P.2) She marries. Peter wants 7 Years. The Trus/tees have now raised & ready, about £6,500/ towards their fortunes & debts, which will be/ in full about 7000, so that there is but a very/ small deficiency, for the raising of which deficiency/ alone it would appear that they keep possession of the/ Estates. But If therefore I offer to make good this/ Deficiency, Mr Wright says, still the Estate is/ bound to provide 5 per cent Interest -- 5000 -- of the/ money he has, is at 5 per cent on good mortgages/ The 1500 in the Macclesfield Bank at present/ However, if I offer to give any kind of security/ to make up at all times all deficiencies of In/terest Mr. Wright will still say, that the principal/ money may be lost, & he will keep the Estates in/ his power to indemnify Him against any possibilities/ of that. Now, can he, should this money be lost, raise it/ again? I to please him, signed a Deed of acknowledgement, that what is put out was put out with/ my knowledge, & approbation. If therefore this acknowledgement binds me to stand to the loss, it/ (p.3) alone is security enough for him. I wish Him/ either to give me the money which would be nearly/ enough to compleat my purchase 25 March next/ or, what I should prefer, to keep this money/ on my making it up to the full Sum, & giving Him/ some indemnity for deficiency of interest, or possible/ loss of principal, as should appear resonable/ (reserving therefore to myself the right of managing/ this money jointly with him, as I should be/ answerable for it singly which would certainly/ be but equitable), & to suffer recoveries to be passed/ of all the Estates to Me, totally freed from the Trust/ in which case I would raise on the Shrigley estate/ alone 12000 --viz--6570-- for the completion of my/ purchase--3700-- to pay in my Sister's money -- now/ at 5 per cent on the reversion -- about 400 -- to pay/ in to Mr. Wright a bond I have given him for some/ small legacies received on acct. of my youngest Sister/ & brother -- & the remainder for my immediate Use/ These are all my debts, & all the money I should have/ occasion for -- after which the Butley small free/hold, the Bollington, Rainow & Hurdsfield property, my/(p.4) new purchase, & a considerable Colliery I hope to establish there, would remain to Me clear & unen-/cumbered, & sufficiently adequate to a handsome/ marriage settlement or any other purpose. I shall be very much oblig'd to You for your/ professional assistance & your friendship in/these matters.
E:D
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