Jonathan Clarke.
To the Hon'ble Directors, &c., &c.
London, July 5, 1773.
Sirs:
The terms which I had the honor to converse with you upon, relative to the sale of teas in America, I take leave to recapitulate as necessary, to understand each other, viz.: You expect that the houses here who recommend their friends abroad, and are in consequence appointed as your factors to dispose of that article, should stipulate that it be sold agreeable to such orders as you may think proper to give for that purpose, and that the factors pay the cartage, warehouse rent, brokerage, and other charges incidental to the sale, and remit the net proceeds in two months from the last, prompt, in good bills of exchange or bullion, for the whole of which service they are to retain a commission of 6 pr cent. on the gross sales, the Company to be at the risk and expence of shipping the tea out, to pay duty and entry abroad, and to be also at the risk and expence of sending bullion home, which terms I do agree to in behalf of those which I shall recommend, whose names are at the foot. And as it seems prudent to guard against accident by death, as well as that the Company be secured against the neglect & misconduct of its servants in this business, I do hereby, for myself and my house, here guarantee the safety of the houses named as above, for the execution of this business, and also that such bills of exchange, as they shall remit on the above account, shall be good.
The agents in this business hope to be indulged with giving their ships in the trade the freight of the tea out, in preference to others.
I am, with the highest respect, sirs,
Your most obed't & most hum. serv't,
William Kelly.