OCTOBER 31ST, 1863. ECONOMY, PA. BAKER AND HENRICI TO EMIL BAUR ET AL.
Economy
Oct. 31, 1863
Messers Emil Baur, Louis Faul, Ferdinand Mueller, John J. Froebe, Johann Wagner, and Nikolaus Haeny.
Worthy Friends:
Your letters of the 8th, 10th, and 15th of this moth were received in due time and their contents were considered amicably and carefully.
Your noble project has our full and cordial approval with our hopes and wishes that the mercy and blessing of the Lord will in every way accompany, watch over, support, and carry it toward this happy goal.
As already mentioned previously, we cannot serve you in the way you requested without deviating from our rules because we are limited by these rules as concerns to loans by our own organization. Since we understand, however, that it is of the utmost importance for the prosperity of your company to guarantee the proper land for the same and to meet certain arrangements, and since we believe that your social intents are pure and that you expect the success of your important work coming more from the blessing of God and the faithful exercise of the doctrine of Jesus than from human wisdom and hope, and that you will not let go of the tireless diligence and unshakable perseverance, so we feel very inclined to let you have the desired loan; in case we can make it compatible with our own duties toward the faithful administration of the common property.
To do this sufficiently you would have to fulfill the following requirements:
[In English] A friend of ours, Mr. Buhl of Detroit, would choose a learned and experience Attorney at Law of good reputation to whom you would have to show:
A true copy of your articles of Association, or of your charter, if you are a corporation, so that he might be able to judge whether you have the legal power to give a mortgage, and would be the right person or persons to execute the same;
You would have to show what property you already do possess that you would or could give as the proposed security, and whether your titles are good;
What other property you would procure by means of the loan which you would afterward give as additional security;
Whether your property is free of debt, or whether there is anything, and how much, on the docket of your County against you;
Anything else that said Attorney would find necessary for you to procure for proving that the security would be good and ample, etc.
If named conditions should not be too lengthy or cumbersome or too costly for you and should you find after careful consideration or council, that you can and want to fulfill the same, let us know in the near future so that we will advise our friend in Detroit about the matter and request of him to procure everything necessary as quickly as possible.
With cordial greetings,
Your friends,
B. & H., Tr.
P.S. The Loan would be $10,000, the interest 6%, the time 3-5 years.
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