SMITHSONIAN BEQUEST. 73 



Michard Husk to John Forsyth. 



London, June 26, 1888. 



Sir : Since my No. 27, the sales of the stock have been 

 going on from time to time, and at length are finally 

 closed. 



The}" have all been good — perhaps I ma}' say fortunate. 

 The prices have been high, as compared with the state of 

 the stock market for several years past; and I am con- 

 fidently informed that, from the time the stock came under 

 my control until I sold it all, no higher prices were ob- 

 tained by any private seller than I obtained. 



The whole of the reduced three per cent, annuities 

 (£12,000) sold at 94. This description of stock is never as 

 high as consols, but 94 is reputed nearly, if not quite, as 

 good a price, in proportion to its general value in the English 

 stock market, as the \)b\ I obtained for the consols. 



Of the bank stock unsold at the date of my last, (viz : 

 £8,100,) I obtained 205 for £5,000, and 205^ for the re- 

 maining £3,100. Both these prices, it will be perceived, 

 are higher than the former ones I obtained for tliis stock. 



The entire amount of sales has more than realized the 

 anticipations held out in my ITo. 27, having yielded an ag- 

 gregate of rather more than one hundred and five thousand 

 pounds, as will be seen when I come to render a more par- 

 ticular statement. The two days on which I am to make 

 all the transfers are the 30th of this month and 6th of July. 

 The money will all be received simultaneously. 



Immediately afterwards I shall take measures for convert- 

 ing the whole into English gold coin, having finally deter- 

 mined that this is the proper mode in which to bring the 

 money to the United States, under the trust I have in hand. 

 It appears to me the right course in itself, independent of 

 any question of exchange, considering the peculiar object 

 and terms of the law of Congress of the 1st of July, 1836, 

 under which I am acting. But by the rate of exchange, as 

 quoted at New York under the last dates, there would be a 

 gain to the United States, by the best calculations I can 

 now make, (though I am aware how exchange is ever liable 

 to fluctuate,) of upwards of a thousand pounds on bringing 

 over the money in gold rather than remitting it in bills. 

 This would help to cover the commissions on shipping the 

 former, effecting insurance upon it, and paying the premium 

 of insurance, as well as charges for freight and those that 



