TALBOT5537

Reading Tuesday Evening
Jan^y 27. / 46

Dear Sir /

Annexed is a copy of the Statement I had prepared of the probable expense of our proposed years operations. If any new idea occurs to you perhaps you will favor me with a line.

I sent the Advertisement to the Times¹ and begged the insertion of it this Wednesday morning if possible They are however exceedingly independant [sic] and it may not appear for a day or two. If it is in on Thursday Morning it will enable me to run up to Town at all events on Saturday in which case I shall see you before you leave.

I find Goddard has a Photographic Establishment at Ryde, Isle of Wight.² Is it worth while applying to him under these circumstances? I think it would be worth while to sound him with a letter which I will write if you think proper. As it will be well to lose no time you will perhaps instruct me as to this at once

In the mean time I am Dear Sir Mo^t obed^ly Y^rs
B. Cowderoy

H^y Fox Talbot Esq

Photographic Establishment

Estimated Outlay for the first year

[2 cols; col. 1:]

Rent, furniture, Fittings & Apparatus for an Establishment in London with fixed salary of Assistant exclusive of his per centage –

Advertising in the "Times" –

Do in other periodicals –

Printing Advertisements –

Handbook of Photography –

Salaries (fixed) –

Travelling expenses, Apparatus & sundries

[col. 2 - aligned with each item in col.1 ]

300 –

50 –

50 –

75. –

275. –

250. –

200. –

[rule]

£1200 –

[double rule]

Of this I estimate one third (– £400) as the actual amount required as a new Investment, as a large portion of the above Items would not be called for until returns were obtained to meet them.

If the project is but moderately successful the above sum must be realised by the end of a year in addition to which there would be in hand Stock and Materials for future operations without the necessity for a further outlay. If the Establishment but pays its expenses the first year it must yield a good profit in future years.