New York Decr [December?] 19th [18?]79
Dear Cousin Willie
I have yours of 6th inst [instant?] with
the receipts for the money remitted on a/c [account?] of Dr.
Saunders. I have had no answer from Florida yet. They are
unsatisfactory people to deal with.
A son of Mr. Watson, a good business man,
has taken his fathers place in the [fine?] board. My uncle Mr.
Henry Hoyt, my brother Gould, Mr. Pillot Mr Graves and a
Mr. Riker are the working men of the board & [and?] I
forgot Mr. G[?] [Gerion?] - This last is the head of the
Williams & [and?] G[?] [Gerion?] Steamship Co. [Company?]
and the 1 [one?] before him are well known merchants, so
there is no fear of bad management - The Nov [November?]
gain was almost $15m [$15,000,000?], but some $5m
[$5,000,000?] of this is for interest which happened to be
due, for six months and was paid last month. Their assets
are very large. They have in materials on hand,
unmanufactured - $45.656.13
of manuf [manufacture?] on hand 100.781.30
cash in hand, bills receivable & }
[and?] due for sales on open a/c } 361.516.77
[account?]. }
----------------
$507.954.20
The majority of the board are opposed to
paying a dividend until the result of the Taylor suit is
known
I saw Duer yesterday & [and?] had a chat
about their position regarding the estate and inferred
to the responsibility they assumed, by the course they
are pursuing, in case silver was made the legal cy.
[currency?] but to no purpose, as he proposed the idea
of such a thing. The bonds you speak of the 10/40. I
think were made payable in coins & [and?] this is the
arguement of our natural legislators, or thieves, silver
is coins & [and?] therefore they can pay the bonds in
silver.
I have been trying to sell Sam's Broad
St. bonds but it is one of those securities which is
hard to dispose of in these times and I cannot get a
bid.
As the early mail is closing I must
close. With much love to all of you believe me
Afftly [Affectionally?] yours
Roland Redmond
Wm [William?] Young Esq.
