Manchester, 22 March 1866 

Dear Hermann, 

Your document is with the Lawyer. Unfortunately, he was out 
today when I called, so I can’t tell you whether he has already sent 
it to Liverpool, nor what progress has been made with the relevant 
fair copies. But I shall call again one day soon to prod him. 

I am writing to you today about the statement of my account 
which you sent to me and which had to wait until I had a quiet 
day to look through, as your entries for the last half year of 1864 
have been done quite differently from ours. I therefore had to go 
through all the stuff again trom the beginning and have at last 
sorted it out. The items coincide with the exception of the 
remittances which, according to your letter of 20 July 1864, were 
credited direct to my account with F. Engels & Co., so I shall 
presumably find these items in my statement of account with 
F. Engels & Co. These items are: 

Remittance via Apolda £ 2 2. 2 

1864, 30 June i Munich » ho 2 
» Rieslingen » 8. 19. 6 

> 3 July » London tot. » 287. 3. 3 

I find that, according to your statements of account I am 
actually losing money in respect of the transferred balances 
debited to me here. The exact calculation of the difference for the 
18 months amounts to £ J. 14. 9 and in future I shall therefore 
take the liberty of sending you a statement every 6 months for I 
naturally have no alternative but to accept the statements of the 
firm here. For my convenience, I am still keeping your account 
here separate as well. 

Please be so good as to send me a summary statement of my 
account with F. Engels & Co. as soon as possible, so that I can make 
up my private account-book. And from mid-year 1864, of course, 
as I have had no statement for this account from you since then at 
all—as far as I am aware. (If you didn’t make up the account in 
mid-year 1864, then from the beginning of 1864.) 

Business has got better again since last September; we have been 
fully occupied since then, at present even excessively so, and are 
setting up new DT-machines. Prices have improved too, and in the 
last half-year of 1865 we have even made enough to cover my 
costs from June 1864 onwards, with a little left over for myself as 
well; in the first year of my partnership we didn’t make a brass 
farthing, you know, even without writing anything off for 
machinery. We must be doing splendid business now, but if cotton 
should drop below 18d. for mipptinc Ortzans owing to the greater 
supply, we shall lose everything again. However, I’m not expecting 
that to happen; I think good American cotton will, by and large, 
hold at approx. 19d., while Surat may admittedly fall a lot. 
Moreover, I think we are not getting more cotton than we need 
and will, by and large, stay at approx. 19d. for mippiinc OrtEans 
until about the autumn, when there may perhaps be some more 
speculating, which will force prices up. 

I shall be writing to Mother* in a day or two, as soon as I can 
manage it; I received her letter last Monday and was glad to learn 
she is well again now. My kindest regards to her and all our 
brothers and sisters from 

Your 
Friedrich 

Apropos. As you know, the capital credited to me_ here 
amounted to a little over £13,000 as far back as 30 June 1864, and 
since I am under no obligation to have more than £ 12,000 in the 
business, there is no need for you to provide cover for purchases 
through us; or I could send you some remittances, especially as 
approx. another £ 300 is due in interest at the end of June. I can 
also make payments to Funke on your account if you so wish; in 
this way, you can draw approx. £ 1,500 up to 30 June, or at once. 
Only please do not draw bills on us, since Gottfried > objects, he 
thinks people might regard it as improper practice, the name of 
the firms being one and the same. 

Anton‘ already has 4-5 patents now. There is no stopping him, 
every other day a new patent of his is announced in the press.