J.M. Hall to William Mackinnon. From New York, no envelope. Visit regarding attempt to sell City of Glasgow Bank's holding in Chicago, Milwaukee ' St Paul Railway. Not seen Johnson - key of his plan, the Chicago & Rock Island Railway. Playing on fear that chief rival North Western could cut them out by its acquisition from Northern Canadian trade. J.M.H. points out CMSP R'way valuable link to North Western in race to Pacific & transcontinental trade. But nothing heard from N.W.; inclined therefore to close Johnson at 3,600,00. Important to achieve reduction of Bank's advances, and Freeport lawsuit final settlement months away possibly so blocking the Railroad issuing its own Bonds. Had a look at Thomsons books [probably Florida Land Co.] £15,000 needed just to keep even - in addition to £10,000 wheat a/c (14,000 dollars already lost and prices worsening.) Quotes William Mackinnon 's coded telegram and his decipherment - William Mackinnon acceptance of 3½m. at worst. Explains negotiations cannot be hurried.

Order number:	PP MS 1, Box 95
Date(s) of creation:	7 Dec 1866
Level:	Item
Format:	Archive