Folder 1

Draft for $2000 at sight has been presented and paid. Regret that you did not draw at three or four months as the wood is for next year's use, it ought to be paid out of earnings of that year particularly as there are 1000 cords on hand and as we intend to make as large a dividend as possible. Chancellor shall be stopped as soon as ice makes at Albany, her engine is in such a state that I have been uneasy every trip for the last three weeks.

Inclose insurance policy for permission indorsed to transfer it; requires only Mr. T's. signature. Shall divide $20 pr share on Monday. Have dispatched Fire Fly with a shop for Dunman and Benedict.

Regrets not having in his employ a carder to furnish Townsends. States that Mr. Burt thinks a person employed in your iron works should answer your purposes but name can not be recollected; that last summer Craig came to hire him but Townsend's superintendent did not wish to part with him so no offer was made.