Memorandum by John Scale.

"Mr. Scale’s proposals for partnership in the button trade." (The date on the docket is "Suppose 1778.")

J S sentiments on becoming a partner in the Button Trade.
1st he thinks B & F shou'd deduct from the amount of the Button inventory all the old
finish'd Buttons that do not belong to orders, and charge the Dies at a reasonable price
Bone Bottoms old platina shells bad steels &c &c may go abt £1000.
2d Button Co. shall pay B & F a reasonable rent for all the Shops they occupy.
3d B Co. shall pay B & F intrest 5 per Ct upon the amount of the Inventory after the
deductions are made that may be agreed upon.
4th B. Co shall allow B & F Carriage to London.
5th In consideration of B. Co. coming into an establish'd trade, they shall allow B & F 5 per
Ct. over and above the Com Discots.
6th Before any proffits are reckond all the allowances made B & F such as Shop rent
Carriage & their 5 per Ct &c &c must be taken off also 5 per Ct upon all the money
employed in Button trade.
7th B. Co. to advance equal Capitals or say B & F to advance £1500 & J S 1500 and if more
money is wanted each party shall have Liberty to advance equal; but if more is wanted
than I can equal, & B & F be obliged to advance an extra sum for the support of the trade,
they shall receive 8 per Ct. for such extra sum before any proffits are reckond.
8th As J S will not expect to receive any Salery or proffits whatsoever but from the Button
Trade, & as his whole fortune & Attention will be devoted to, & Risqued in this trade, he
thinks it equitable he shou'd have half the proffits.
9th B. Co to keep a Distinct sett of Books and to order their materials where they please.
At the expiration of Button Co. term, or when they desolve partnership, he thinks B & F
shoud oblige themselves to take back all stamps Mill Machinery Gilding or Annealing
Stoves or hearths at a fair price, & if any thing shoud happen that they shoud part in Less
than 7 years B & F shoud oblige themselve to take the same amount again or in
proportion to the business done the pr[e]ceding year and at the same rates they are now
Chargd except in tools that are evidently worse for wear wch: shou'd be chd at a fair
price-but if the partnership shoud continue above 7 years J S woud run his share of the
risque in Loss of every thing except Standard tools such as Stamps & Mill machinery
hearth &c.