The Testimonies for the Principio Company - Page 16 - Transcript
One called Kingsbury and the other Lancaster.
They possessed large Tracts of Land which were apprepd.
to the carrying on of the Iron Works. The extent of them Mr.
Alexander is not acquainted with but it was one of the
oldest Iron Works in the Country and the Lands they held
they had possessed long before his Memory.
It was looked upon as a Flourishing Concern
and the Shares in the Company were looked upon
as being valuable - The Company was in good Credit
and their Bills much sought after - He thinks it
was not latterly - so well managed as it might
have been, but it was constantly going on.
Is perfectly incompetent to speak of their stock
in Trade, but in general says that there was the ap:
pearance of a good Stock. There must have been a
great many Negroes employed - One Furnace with all
the matters connected with it would employ 80 Hands.
Says he is unable to put any particular Value
upon the Buildings Negroes or Stock but having been
Applied to by the Company he made out the best Valuatn.
In his power -
Delivers in his Valuatn. which is the same before
entered as read. (markd D) and he says that is made
out of the presumption the Company possessed the
sevl. Tracts mentioned therein which he takes from
their Information, but with respect to one of them
(the 5000 Acres) said to be punchd. of Mrs. Calvert he is
satisfied not only from his own Knowledge of the
Country but from the Information of others that they
never did possess it -
Says the Idea of the County was that from the Death
of Mr. Baxter who was the Agent and died in 1767 or 1768 -
the Concern was ill managed and unproductive. -
but he is nevertheless of Opinion that the property
was very valuable even if it had been broke up
as an Iron Work and the Land sold out in Farms -
Is asked whether he can form any Opinion
of the Value of the Out Buildings exclusive of of the
Works at the Forges and Furnaces - says
[Transcribed by Benjamin Bankhurst]
