I have the Satisfaction of forwarding to you a Draught on the Agent of the Dis: Swamp Co[mpan]y for sixteen hundred Dollars. Your letter for me to represent you at the general Meeting of the D.S. Compy did not authorize me to draw your Dividend, or I would have received it, & placed it in the Bank of Virga to your Credit. If this will be any Convenience to you in future, you can before next annual Meeting, which is fixed for the first Wednesday in June, authorise me to receive the same. Besides the handsome Dividend which we made the Company bought in a half Share belonging to the Estate of Co: John Jamieson, for 5100$ 75/100 & paid in Cash 4080$, the Balance was discounted in a Debt he owed the Company. They also subscribed for five additional Shares in the Canal Company, for which they paid 1250$. These purchases lessened the Dividends of the past year. But the whole proves that the Property is still increasing in Value. My own opinion is that the Soil of a great part of the land is of a very excellent Quality, & if properly drained and cleared would yield a very handsome Profit to the Proprietors. I have therefore endeavored to convince them, that it would be advantageous to place a part of the Dividends in the hands of the Managers as a fund to improve the property. At last Meeting a Resolution was agreed to for appropriating 12 1/2 per Cent of the Dividends to be placed under the direction of the President & managers. I expect that this appropriation will produce about 1500$ annually.

Another Resolution was past, directing the Prest and managers to apply to the Legislature for an Act authorizing the Company to sue & be sued in the Name of the Prest & managers. I was induced to propose this Resolution from the frequent Trespasses that were committed upon our property, & also the Difficulty of recovering Debts. Where there are so many Partners, it is difficult to prosecute¹ a Suit at Law, & this made the Trespassers more daring, & the Debtors more indifferent about fulfilling their Contracts. I consider this Business of great Importance to the Company, and it will be rendering them a very essential Service, if you would, at a leisure moment, favor me with a Sketch of an Act suitable to the Object intended.²