London Oct 1. 1823
Madam,
We are sorry at having kept you in suspense respecting the
account; but we waited for the printers acct of Hazlewood Hall, which we have
not yet received; but whatever its amount may be is of little consequence.
By the annexed statement you will see that besides 750 copies of
Hazlewood Hall, you have other books on hand to the value, estimated at the
regular price, of £734.7.6 against which we have a demand for £369.18.5. The
sale of Hazlewood Hall is very uncertain—therefore we don't at present estimate
it at any thing. We conceive therefore that in taking an estimate of the whole
value of the property—viz the books on hand, at what they would produce at a
trade sale, and the copyrights of which half of the whole were your fathers, the
highest estimate that could be put on the whole would be £600; but perhaps even
£500 would be enough for the purposes of the Probate.
A new edition of the Banks of Wye is in forwardness, from which
some advantage is to be expected. Under the original agreement your father was
not entitled to any advantage from this until another 1000 copies should be
sold; but it has been recently agreed with the proprietors that he should
immediately have his half, as of the other works, on his admitting them to half
of the subsequent term of copyright. You are doubtless aware that Mr Bloomfield
gave up to us, for a certain consideration, one fourth share of the 'mayday',
and that afterward he sold us for £100 another fourth and half of Hazelwood
Hall; thus retaining, under the several arrangements, just half of every thing.
His death unfortunately diminishes the value of all the copyrights; because of
the three first, the term of 28 years will soon be expired—and as these are the
best books, they are very likely to be assailed by piratical editions—We shall
be happy to add to this statement any further explanations you may require—and
remain Madam
Your obed servs
Baldwin
Cradock & Sons