TALBOT7459

Lincoln’s Inn ¹
21^st Oct 1857

My dear Sir

M^r Loxley ² has just been with me – his people find a difficulty in answering our proposal ³ or rather question until we tell them what sum of money we are willing to pay for these Patent rights.

I answered that this was just what I could not do but that my understanding of your meaning is “Since, Gentlemen, you are not disposed to lay out any further capital upon the Invention ⁴ and are willing to throw it up for a nominal sum, [nominal hav^g regard to the large sum you state to have expended on it] I will, if you please take it off your hands and turn it to account by such improvements as will in other hands give it greater conditions of prosperity” –

Loxley states that his clients have received the communication with an earnest desire to accede to it, if the sum to be offered should prove acceptable –

I rejoined that as we could not tell what the circumstances and moving causes were on their part which would render acceptable the sum we might name, it might happen that when offered it was altogether inadmissible as below the mark.

Before he left however & as well to save time & breath I intimated my own conviction (but without the any other basis than that of pure conjecture) that you would not be well advised in exceeding £500. but that this was purely my own view & not yours.

The works he tells me are entirely stopped. ⁵

You will be good enough therefore to instruct me as to the next steps to be taken

Ever your faithful serv^t
J. H Bolton

W^m H. Fox Talbot Esq^r