Salt Lake City, U.T.
March 5. 1869.
Mr. Joseph Birch,
Agent for B. Young's Cotton Factory,
Washington U.T.
Dear Bro;-
On looking over the Accounts rendered by you last September, I find that in your statement of "Prest. B. Young" in acct with Southern Cotton Factory" ending Sep 18. 1868. That you show a balance due B. Young of $4212.83 but you have not therein credited him with half the proceeds of the Factory, and to complete that Acct, so as to show how much is due in all to B. Young, he should, in addition to his credits for Cotton, & goods &c sent from the City, & all supplies furnished by him, be credited with One Half of the Proceeds, which as per your "Statement of Proceeds of Factory" & Store July 23. 1867 to Sept 18. 1868." amount in the aggregate to $36167.59, the one half being $18,083.79-1/2 which is the sum to be added to the above balance of $4212.83 making $22,296-1/2 due. To which must be added the balance not paid by you of the $5000 Cash which you were to pay to B. Young, as per agreement, for the year ending July /68, which is $3743.33 (you having paid $1256.67 in cash.) This will make $26,039.95-1/2 due to B. Young out of Factory at the above date. Besides the above, you are owing Prest. B. Young $3824.00 with interest for money he paid to Gilbert & Son, for you & $324.25 for bill of Kersey & Tweed had here to be paid in money, both these sums make a total of $4148.25. Cash due directly by you personally. To recapitulate: there was due to B. Young out of Factory $26.039.95-1/2 and from you in money (besides interest
4.148.25 Making a total of $30,188.20-1/2 due to B. Young, last Fall, since when the President has had to pay your indebtedness to Eldredge & Clawson, in Cash, amounting to $2212.36.
These are large sums, and I think it would be acceptable to the President, if they could be reduced as soon as possible. When you send up your Accts again, please credit him with half the profits & $5000.00 per year & charge yourself the latter sum as per agreement, which will show at a glance how the account stands.
Trusting that the final results will all be satisfactory
I remain, truly yours.
T.W. Ellerbeck
Clk for B Young Sen
401 crossed out, not sent