14 Doc. No. 10. 



Accordingly, on the same day that I disposed of a portion of the consols 

 for cash, which served also r.s a feeler to ascertain the cash price, I caused 

 the whole of what remained of this stock, viz : £60,000, to be sold on" time 

 for tlie 6th July, that being the day after dividend day, which falls on the 

 5th of July. 



It ffives me ffreat satisfaction to state that this sale was effected at 95g. 

 Up to the day when it was eliected, consols had not brought so high a 

 price, as far as I have yet been able to examine the London Mercantile 

 Price Current, for nearly eight years before. 



Two sales have been made of the bank stock, viz : one of £3,000, the 

 other of £5,000 ; the former at 204 i, the latter at 204| ; both sales being 

 for the 30th instant, the money payable and stock to be delivered on that 

 day. Should the remainder be sold at these rates, or near them, it will 

 be seen that the bank stock, though in nominal amount only £16,100, as 

 stated in my last, will yield upwards of £30,000. i 



In the important operations of selling the stock, I am receiving the most ! 

 beneficial aid from the constant advice and active daily co-operation in 

 all ways of our consul. Colonel Aspinwall, whose long residence in Lon- j 

 don and ample opportunities of knowing the mysteries of its great stock 

 market, and the minute details of doing business in it, have given him 

 the ability to aid me. It is thus that I am sehing to every advantage. 



None of the three per cent, reduced annuities have yet been sold. We 

 are watching the market with a viev/ to the most favorable moment for 

 > disposing of this part of the* stock. 



The fortunate point of time was hit for selling out the consols. They 

 have now sunk a little, and, with the exception of momentary intervals, 

 would not have brought as much since the 6th instant as I obtained. 



From the sales made, it is now I think certain that the whole stock will 

 yield from one hundred and three to one hundred and five thousand 

 pounds, apart from the five thousand and fifteen to be retained here during 

 the Ufe of Madame la Batut. 



From the successful manner in wliich they are proceeding, it seems 

 clear also, at the present time,tliat the fund, independent of the accumula- 

 tions of interest, will be richer in the state hi which I shall deliver it over 

 to the United States, than it was hi the summer of 1835, wlien their right 

 to it first attached by the death of Henry James Hungerford. 



Left to myself to make the most of the fund after recovering it from 

 chancery, which depended so much on the sale of the stock, it has not 

 been without full consideration that I did not call on the Messrs. Roths- 

 child to sell it all, for which their experience and situation here, besides 

 being the bankers of the United States, might have seemed to point them ^ 

 out. But, first, th.ey would, I take for granted, have charged a commission \ 

 of one per cent., to which I could not have objected, as it is allowed here, 

 apart from the broker's commiyrsion, and by the chamber of commerce at 

 New York on eftecthig sales of stock ; Avhilst Colonel Aspinwall charges 

 iiie no such commission, and I much desired to save the amount of it to 

 the fund, if, with his efficient aid, I could conduct the sales confidently and 

 advantageously myself But, secondly, if the former, as the bankers of 

 the United States, vv'ould have performed the task without charge, I 

 should not have been the less disinclined to place it in tlieir hands, having 

 had no instructions to do so, and, being without these, I could only exer- 

 cise mv best discretion. They are, as I in common with others here sup- 



