The Testimonies for the Principio Company - Page 17 - Transcript
Says that exclusive of the Forges Furnaces, Coal Houses & Mills
he should not suppose the other Buildings were worth
£300 Currency at each Settlement, which would make
£1200 Currency in the whole. -
Mr. Enoch Story - Sworn.
Says he was born in Cecil County Maryland
within a Mile of the North East works, at the Head
of the North East River - They had 2 Forges in the
County The North East Forge and the Principio Forge -
It is 14 years since he was there - It was abt. 1773 he
was last there. At that time the Principio Forge
was in Ruins and had not been worked for some
years - but North East Forge was still worked and
they did a great deal of Business at the Two Furnaces.
They had abt. 9,000 Acres in Cecil County attached to
the Two Forges - It was then poor Land and he thinks
if sold would not have brought more than £10
Cuy. Pr. 100 Acres on an Average - which is equal to
£6 Sterling at the then rate of Exchange. -
6000 Acres belonged to the N. E. Forge - and 3000
Acres to the Principio Forge - Says there was not
100. Acres of Arable Lands on the former 6000 Acres -
There was not any Ore also on this Land - It was -
valuable only for the Wood.
The Land in Baltimore County was much more
valuable than that in Cecil he thinks it might be
worth £20 Cury. Pr. 100 Acres or £12 Sterling.
Mr. Alexander Lawson - Sworn.
He knew there was such a Company in
Maryland as the Principio Company - He lived
near Baltimore Town - Says the Company was
generally understood to be doing well in 1774 and in
a more thriving way than they had been.
Says he always understood they were possessed
of very considerable property as he conceived it from
8 to 10,000 Acres but he is ignorant of the exact
Extent of their Lands.
Being questioned whether he apprehends they
possessed 5000 Acres in Patapsico River - he says
[Transcribed by Benjamin Bankhurst]
