DIY History | Transcribe | Building the Transcontinental Railroad | Chouteau, Jr., Sanford & Co., Thomas C. Durant and Henry Farnam correspondence regarding railroad iron, New York, N.Y., 1855

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Chouteau, Jr., Sanford & Co., Thomas C. Durant and Henry Farnam correspondence regarding railroad iron, New York, N.Y., 1855

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New York May 12th 1855
Messr. Henry Farnam
& Thos. C. Durant
now at New York
Gentlemen.
With the consent of the Mississippi & Missouri R R Co. (to be embraced in a resolution to be passed by the Board of Directors of that Company) we agree to arrange with you a settlement of our account against that company, & deliver to you the Rail Road Iron now lying at Chicago & on the way thither, (about 2570 Tons) being part of the Iron sold by us to that company by contract of April 7th 1854, & also to deliver to you, afloat in New York, about 3032 Tons Rail Road Iron now about being shipped from Great Britain, as a return on our part to the company, of that quantity borrowed by us. On the following conditions. viz;
1st That you are to deliver to us, on or before the 5th day of June next, a part payment on account of the company, the acceptances of Thos. C. Durant of the drafts of Henry Farnam to the amount of about $120.000. payable in New York in five months from 1st of May next., upon receipt of which acceptances we will deliver to you possession of the Iron now at Chicago & on the way thither, provided you pay or become liable for the U.S. Duty thereon.
2nd. That on the arrival of each invoice of the Iron to be returned, you give us Drafts drawn & accepted by the same parties as above named, for the amount of said invoice of Iron @ [British pound] 8.10p per Ton. with 10% Exchange, adding thereto interest from the date of our charge to the company of a like quantity of Iron under the contract as above named. Said last named acceptances to be payable in New York in six months from the arrival of each Invoice, with

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New York May 12th 1855 Messr. Henry Farnam & Thos. C. Durant now at New York Gentlemen. With the consent of the Mississippi & Missouri R R Co. (to be embraced in a resolution to be passed by the Board of Directors of that Company) we agree to arrange with you a settlement of our account against that company, & deliver to you the Rail Road Iron now lying at Chicago & on the way thither, (about 2570 Tons) being part of the Iron sold by us to that company by contract of April 7th 1854, & also to deliver to you, afloat in New York, about 3032 Tons Rail Road Iron now about being shipped from Great Britain, as a return on our part to the company, of that quantity borrowed by us. On the following conditions. viz; 1st That you are to deliver to us, on or before the 5th day of June next, a part payment on account of the company, the acceptances of Thos. C. Durant of the drafts of Henry Farnam to the amount of about $120.000. payable in New York in five months from 1st of May next., upon receipt of which acceptances we will deliver to you possession of the Iron now at Chicago & on the way thither, provided you pay or become liable for the U.S. Duty thereon. 2nd. That on the arrival of each invoice of the Iron to be returned, you give us Drafts drawn & accepted by the same parties as above named, for the amount of said invoice of Iron @ [British pound] 8.10p per Ton. with 10% Exchange, adding thereto interest from the date of our charge to the company of a like quantity of Iron under the contract as above named. Said last named acceptances to be payable in New York in six months from the arrival of each Invoice, with