Radford & Frankland to Henry Wellcome

A letter from Burroughs's solicitor, expressing dissatisfaction with Wellcome's management of the partnership accounts during the period "from October 1881 till February 1884" (when Burroughs was abroad on sales tours), concluding that "the accounts of the firm have been drawn up in a manner prejudicial to [Burroughs's] interests."

The letter continues with reference to Wellcome's capital share: "We are informed that in August 1883 when Mr Burroughs consented to your taking an equal interest in the concern 'on the terms of your partnership agreement' that you - in accordance with your system of accounts - made up your capital to an equal amount with the nominal (but not the real) capital of Mr Burroughs by crediting yourself with £1000 represented by the acceptance of a Mr Hobson. This acceptance has never been cashed. It was never money used by the firm, and in our opinion it was never 'capital' in any sense" (pp. 2-3).

The letter concludes with the view that Wellcome should "without delay contribute to the business a capital proportionate to your two fifths share of the profits."

The letter has some annotations in the margin that appear to be in Wellcome's hand.

7 January, 1885

1 file 5 sheets.