From Henry Allen Wedgwood1 21 February 1847
21 Feb. 47
My dear Charles
I am sorry you are subject to such “an ignorant impatience” of running in debt. You will never make a stag.2 I met Mr Phillips3 in town instead of going down to Newport, and he persuaded me to take my shares in a handsome way unconditionally, but those of Eliza4 & Aunt Sarah5 I have taken under the condition you will find reversed on the 4th page of this note,6 which I think a better condition than one referring to any particular proportion, and indeed it refers to what Mr Phillips himself assured me in that if the issue at £140 did not go off and if it was necessary to offer them for sale at a lower price, the committee would take care that those who had accepted at £140 should have a proportional abatement made to them.7
He also told me that Mr Blakemore8 one of the committee who had agreed to advance £10000 on debentures would if necessary instead of debentures take new shares at £140 to that amount, because they do not expect any difficulty in filling the debentures— I hope therefore to hear that a sufficient number of shares is taken, but he also mentioned in confidence that one of the committee was not hearty and wanted to get them at a lower price though not openly— This I presume is only matter of suspicion. In any event the condition on the other side would make acceptance safe if you were not a white livered slave of Salt and securities.9
Send this to Jos—10 I have written to At . Sarah.11 London— 22d Feb 1847 My dear Sir
I am authorised by Mr Hensleigh Wedgwood Mrs Sarah Wedgwood and Miss Sarah Elizabeth Wedgwood (of the Hermitage) to accept their respective allotments of new shares at £140, on condition that a proportionate reduction in the price of them shall be made to the above parties if the new shares which are declined by the proprietors are afterwards sold at a lower price than £140.
Concerning the purchase of shares.