|
{From the minutes of the
Directors' Meeting of the Richmond, Fredericksburg & Potomac RR,
September 25, 1863} |
| |
| The President reported to the Board that
since the joint & several Railroad bonds, authorized by the
resolutions of the Board of July 28th & Aug 4th has been executed
and transmitted to Capt J M Robinson in England, he has received from
Capt J M Robinson a letter dated St George's Bermuda Aug 31st 1863,
and has since had a personal interview with Capt Robinson himself, in
relation to a contract entered into by Capt Robinson on behalf of this
and other associated Railroad Companies with Messrs Charles Joyce
& Co of London for furnishing Railroad supplies, of which letter
& contract the following are copies. |
| |
| St. George's Aug 31st 1863 |
| |
| P. V. Daniel Jr Esq. Prest |
| |
| Dear Sir, |
| In case of accident to the "Robt E
Lee" upon which I propose to take passage for Wilmington on the
3d of September, I herewith enclose a copy of the contract I have
entered into with Messrs Chs Joyce & Co of Mooregate St London on
behalf of your Company, the Virginia Central, the Petersburg &
Weldon & the Seaboard & Roanoke. Should I be unable to
continue the engagements I have entered into with Messrs Joyce for
them they should unite in sending an agent to St Georges to carry out
the terms of the agreement. I would suggest that Maj Walker or
one of his agents already here would undertake to deliver the
Companies' notes and receive the goods destined for them. The value
that should be stated on the face of the notes respectively cannot of
course be accurately stated until Messrs Joyce's accounts are received
here, but several modes of overcoming the difficulty will readily
suggest themselves to you, and the amount can very nearly be estimated
from a knowledge of the values of the respective lists furnished to
me. |
| The affair should be promptly attended to,
for Messrs Joyce were preparing to execute their part of the contract
when I left England. |
| You will perceive from one of the receipts
of the Messrs Joyce that I have been obliged to write your Company and
the Seaboard on the deposit of collateral to avoid depositing more
than required by the agreement owing to the nature of the bonds in my
possession. The Seaboard Co must therefore become indebted to your
Company for the amount. Its bond for $8000 in my name, as well as
$7000 bonds belonging to the Virginia Central Co are deposited to the
orders of the Presidents of the respective Companies in a package
containing also other papers that I have left in the hands of Messrs J
K Gilliat & Co. |
| I think this explanation will enable the
RRd Companies I have mentioned to act of themselves, but I trust that
I may reach Richmond in safety and give any further assistance in my
power. |
| Yours Very Respectfully |
| Jno. M. Robinson |
| |
| Agreement with Messrs Joyce & Company |
| An Agreement made this fifth day of August
One thousand eight hundred and sixty three between John Moncure
Robinson a Captain of Engineers in the service of the Confederate
States of America now residing at the St. James's Hotel Piccadilly
London and acting herein as the Agent and for and on behalf of the
undermentioned four Railroad Companies (namely) The Richmond
Fredericksburg & Potomac Railroad Company, The Virginia Central
Railroad Company, The Petersburg & Weldon Railroad Company {the
Petersburg RR} and the Sea Board & Roanoke Railroad
Company, (all being in the said states) of the one part and Messers
Charles Joyce and Company of 61 Mooregate Street in the City of
London, Merchants of the other part -- |
| Witnesseth that for the consideration
hereby appearing each of the parties hereto for themselves so far as
relates to the acts and deeds on their own part to be performed Co
hereby agree with the other of them as follows |
| 1 |
The said Charles Joyce and Company
will at their own costs and upon the requisition of the said
John Moncure Robinson furnish and supply for the use and service
of the said Railroad Companies respectively all or such part as
shall be so required of the Stores, Materials Articles and
things which are specified and mentioned in the Four Lists
hereto annexed and signed by the said parties. |
| 2 |
The said supplies shall be by the
said Charles Joyce and Company procured and shipped in England
and delivered to the Agents of the said Railroad Companies
respectively at either the Island of Nassau or the Island of
Saint George Bermuda as may be ordered by the said John Moncure
Robinson on his making requisition for such supplies. |
| 3 |
Each of the said Railroad Companies
shall be responsible only under this agreement for the supplies
furnished for its own use. |
| 4 |
The said Charles Joyce and Company
shall be paid by the said Railroad Companies respectively in
Sterling money of Great Britain the invoiced prices of the said
supplies besides all freight and other expenses of and incident
to the shipment conveyed and delivered therof the costs of
Insurance of the said supplies to the time and port of delivery
and interest on their outlay for or on account of the said
supplies at the rate of Eight pounds per centum per annum to be
computed up to the respective times of the delivery of the said
supplies as aforesaid together with a commission of seven pounds
and ten shillings per centum on the respective total amounts of
the Invoices of the said supplies. |
| 5 |
Upon the delivery of the said
supplies in manner aforesaid by the said Charles Joyce and
Company Bonds or Notes of the said Railroad Companies
respectively bearing interest at Eight pounds per centum per
annum the principal of such Bonds or Notes being payable not
later than the thirty first day of December in the year One
thousand eight hundred and sixty five both principal and
interest being payable in London and the principal representing
the full amount or value in Sterling money of the supplies
furnished to each Company (including the freight expenses costs
interest and commission aforesaid) shall be delivered by the
Agents of the said Railroad Companies respectively to the Agents
of the said Charles Joyce and Company in payment for the said
supplies at the place which the same shall be delivered. |
| 6 |
The said Railroad Companies
respectively will remit semi-annually from time to time in
Sterling money to the said Charles Joyce and Company the
interest accruing due upon the said Bonds or Notes which
interest the said Charles Joyce and Company shall be entitled to
retain for their own benefit. |
| 7 |
Within six months after peace between
the said States and the Northern States of America shall be
concluded all the Bonds or Notes delivered as aforesaid
(although the same may not then according to the tenor thereof
be due) shall be by the makers thereof or other parties liable
thereon taken up and paid with all interest then in arrear and
due in respect of such Bonds or Notes respectively either in
Sterling money or (at the option of the said Charles Joyce and
Company) in Cotton of which the quality shall be middling upland
and the value shall be taken by and between the parties hereto
to be five pence sterling per pound and if the said Charles
Joyce and Company shall elect to receive such payment as
aforesaid in Cotton they shall transmit notice of such their
election to the said Railroad Companies respectively within
sixty days next after intelligence shall reach the said Charles
Joyce and Company of the conclusion of peach as aforesaid and in
that case the said Cotton shall be delivered by the Agents of
the said Railroad Companies respectively to the Agents of the
said Charles Joyce and Company in properly packed and
merchantable bales and free from all taxes and charges in the
Port of either Wilmington or Norfolk at the option of the said
Charles Joyce and Company. |
| 8 |
The said Railroad Companies
respectively will during the continuance of these presents
deposit in advance with the said Charles Joyce and Company by
way of collateral security for the said supplies Bonds of the
Company Confederate States of America or securities equivalent
thereto and satisfactory to the said Charles Joyce and Company
such Bonds or other securities bearing interest at a rate not
lower than Five per centum per annum and the principal thereof
being at all times for amounts or values of at least twice the
amount which for the time being shall be due and owed under this
Agreement by each Railroad Company to the said Charles Joyce and
Company for or in respect of the said supplies. |
| 9 |
For the purpose of calculating the
amounts of the cost mentioned Bonds and other securities Four
dollars and Eighty four cents of money of the said Confederate
States shall be taken and considered to be equivalent to one
pound Sterling. |
| 10 |
All the Bonds and other securities to
be deposited as aforesaid shall be by the said Charles Joyce and
Company held as security only to them for the sums or amounts
which for the time being shall be owed to them by the said
Railroad Companies respectively for or in respect of the said
supplies and the same Bonds and other securities shall not
be by the said Charles Joyce and Company sold or parted with
unless default shall be made by the said Railroad Companies
respectively in payment in the manner stipulated and provided
for by these presents for the supplies to be furnished in pursuance
of this Agreement to the said Railroad Companies respectively by
the said Charles Joyce and Company shall be at liberty to
realize or otherwise deal with as they may think proper the
Bonds and other securities deposited with them as aforesaid to
such amount or extent as shall be sufficient to reimburse
themselves the amount which for the time being shall be owing
under this Agreement to them by the said Railroad Companies
respectively for or on account of the said supplies. |
| 11 |
In the meantime the said Charles
Joyce and Company shall be at liberty from time to time to
receive for the credit of the said Railroad Companies
respectively the interest accruing due on the said Bonds and
other securities. |
| 12 |
Upon full payment being made in
manner aforesaid to the said Charles Joyce and Company by the
said Railroad Companies for and on account of the supplies
furnished to them respectively under the Agreement the said
Charles Joyce and Company will return to each Railroad Company
or to their Agent all the Bonds and other securities deposited
with them by such Railroad Company as security as aforesaid and
will duly account for the interest on said Bonds which in the
meantime shall have been received by the said Charles Joyce and
Company. |
|
| In Witness whereof the said parties to
these presents have hereunto se their hands the day and year first
above written. |
| signed by both the above parties,
Messrs Charles Joyce & Co signing by Mr Frederick George
Westmoreland a member of that firm in the presence of |
Jno M Robinson |
| Chas Joyce & Co |
|
| John Harrison |
| Notary Public |
| No 17 Gracechurch Street London |
| |
| The President further stated to the Board
that by the resolution of the Convention of Associated Railroad
Companies held in this office on the 13th & 17th of February 1863,
the Compensation to be paid to Capt Robinson for his services as Agent
of these Companies in procuring supplies from Europe and for the
expenses of his visit to Europe it was agreed should be "ten per
cent on the cost of the articles ordered by each Company; provided
that such compensation shall not exceed $8000 nor to be less than
$4000, the said compensation to be computed and furnished in sterling
funds;" but that this Company not having furnished nor without
great difficulty & loss been able to furnish to Capt Robinson
during his stay in Europe its proportion of this compensation in
Sterling funds, and Capt Robinson being now indisposed to exact of
this Company that it should reimburse him in Sterling or its
equivalent in Confederate currency its proportion of either the amount
expended by him in Sterling derived from other sources, or even of the
minimum compensation stipulated to be paid to him, was willing now to
receive of the Company in lieu of both, an obligation of the Company
similar in all respects to the proposal to be given to Messrs Charles
Joyce & Co of London for an amount equal to ten per cent on this
Company's indebtedness to Charles Joyce & Co. under the contract
entered into with them; in which the per centage received as a commission
to be paid to them was understood with them to be really only such in
form, but in substance a discount, at which they agreed to receive the
obligation proposed on payment of the supplies furnished by them. |
| Whereupon it was |
| Resolved that the Board hereby approves
and ratifies the Contract entered into in its behalf by Capt J. M.
Robinson with Messrs Charles Joyce & Co, of London, and hereby
authorizes and instructs the President & Treasurer to execute with
the Corporate Seal of the Company and deliver one or more obligations
of the Company in accordance with the said contract to Messrs Charles
Joyce & Co of London for an amount not exceeding in the aggregate
the amount of the cost of articles furnished by the Messrs Charles
Joyce & Co with all freights and charges thereon justly due to
them. |
| Resolved, that the President &
Treasurer be further authorized and instructed to execute and deliver
to Capt Jno M Robinson a similar obligation of the Company for an
amount equal to ten per cent on the amount of this Company's
indebtedness to Messrs Charles Joyce & Co under the said contract. |
| Resolved, that the President be authorized
to employ an agent at Bermuda for such compensation as he shall deem
must who shall superintend the receipt from England at that point and
the shipment thence to a Confederate Port of such supplies as shall be
imported by this Company and upon ascertaining the correctness of the
invoices shall deliver to the Agents of the exporters this Company's
obligations for the cost thereof. |
| Resolved that the President be authorized
to procure and transmit to such agent in Bermuda such an amount in
specie or sterling funds as may be needed to defray the expenses of
transferring and shipping the said supplies brought from England to a
Confederate Port. |