Smithfield Preston Foundation
Papers, 1784-1881, n.d., Ms1997-002
June 8, 1832 -- letter from James Patton Preston in Richmond, VA to James McDowell in Lexington, VA
Richmond June 8th 1832
My Dear Sir
Mr. Moon leaves hire to day, having finally settled & closed all his business in the Federal Court. He says he will go home and conduct the family and take the land and bargain off his hands if they approve it. I consult you, ought I to do it or to refuse to let them have it. I know I can pay for it, and I believe it must rise in value in proportion to the success of the James River improvement which is now requiring to be a favorite object. Seven hundred shares have been subscribed for today in addition to former subscriptions. There seems now to be no doubt entertained if taking up the stock.
I ran the hazard in the purchase if the land if the matter had terminated injuriously by a failure of the case of Moons representatives against Fosters securities. I should have sustained the loss. Ought I not to have the advantage if there be any, note things have taken a favorable turn? Write me immediately and keep the matter to yourself. Advise my dear James in his studies as you may think, but after talking to Doc. Marshall on the subject. Give my love to all.
And always my warm regard
Your uncle James P. Preston
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