i have good news for you, mr. cosgrove. the firm of bracegirdle and chatwick, in the city of london, are prepared to lend you 20,000 pounds, pledged against your interest in the edric mines. they will redeem the encumbrances against the property, which amount to some 10,000 pounds, and take a twenty- year working lease on the mines. they will lend you the 20,000 pounds against the lease income, which they will apply to the loan as it comes in, and they will make a charge of 18% per annum interest on the outstanding loan balance.
considering your financial circumstances, mr. cosgrove, it has been impossible to find anyone at all prepared to do any business with you. i think you may count yourself lucky to have this opportunity. but, obviously, if you would reject this offer, i shall keep trying to find a better one.
there are a few other points we should discuss. the loan agreement can only be executed by her ladyship's signature, and provided that bracegirdle and chatwick can be assured of her ladyship's freewill in giving her signature.
may i be quite frank with you?
mister bracegirdle said to me that he had heard her ladyship lives in some fear of her life, and meditated a separation, in which case, she might later repudiate any documents signed by herself while in durance, and subject them, at any rate, to a doubtful and expensive litigation. they were quite insistent on this point, and said they must have absolute assurance of her ladyship's perfect freewill in the transaction before they would advance a shilling of their capital.
when i asked them in what form they would accept her ladyship's assurances, they said that they were only prepared to accept them if her ladyship confirms her written consent by word of mouth, in their presence, at their counting-house in birchin lane, london. i requested they come here, and save her ladyship and yourself the inconvenience of the trip to london, but they declined, saying that they did not wish to incur the risk of a visit to castle hackton to negotiate, as they were aware of how other respectable parties, such as messrs. sharp and salomon had been treated here.