7 Eaton Place South
My dear Sir
I have laid yours of the 23rd Instant before Messrs Sarl – & so soon as you have made up your mind as to the amount of rent & Royalty we will give it full consideration – I may mention, however, that I think the restriction as to 15 acres of land will be open to great objection –
The price of Iron ore at Wolverhampton is constantly quoted at 18s/ This refers to Lancashire ore I believe – at any rate practically no such Sum can be
glo got for Wilts ore – In fact at present there is no remunerative market there for it.
I think I stated my opinion that certainly for some years there would not be furnaces enough in our neighbourhood to supply a market for a sufficient quantity of ore to make it a matter of any importance in working Iron fields – & such is my belief – the experiment of smelting has to be tried & as yet is very doubtful as a general business – The proposed
ones furnaces at Seend may do very well but there are peculiar advantages there – as for instance the contract which we have made with them to supply ore at a very low figure – Still if you do not arrange with Messrs Sarl I should be very happy to join you in working your ores & with the practical experience I have had could make them do well – but it would be by turning to account advantages which chance has thrown in my way –
I am, dear Sir yours faithfully