Series 5 > British Linen Company, 1745-1775

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THE BRITISH LINEN COMPANY
Court of Directors
2 August 1746
The Court having under their consideration what may be the most proper and
necessary steps for commencing the operations of this Company have resolved
and agree that a cash account or credit for Three Thousand pounds shall be
applied for and taken out with the Royal Bank of Scotland and that the
Managers shall have liberty of drawing on the said bank from time to time as
the affairs of this Company may require and it’s ordered that the Managen
shall pay in all money they shall receive on the Company’s account into the
Bank within at least three days after such money shall be passed to them
excepting that the affairs of the Company shall require their instantly paying
away the sum or sums so received or that the sum or sums paid them does not
exceed £50 stg.
The Court have likewise resolved that the Company shall purchase from
the Proprietors of the Edinburgh Linen Society or Copartnery all their effects
upon hand.
The Managers have represented that as there is a great probability from the
experiments already made by the above named copartnery of making consid¬
erable progress in manufacturing and improving that species of linen called
Osnaburg or Sprigg linen so much wanted for exportation it would be
absolutely necessary to import a large quantity of Russian flax, which is the
best for that manufacture, and that by their latest account from thence flax was
fallen to so a price as fifteen and sixteen roubles per birquit for the kind called
twelve head plescow and so in conformity for nine head ditto. The Court
therefore ordain the Managers to write Mr Thomas Allan merchant in St
Petersburg that he would buy up and contract for Two Hundred tons of twelve
and nine head flax for account of this Company provided that these kinds does
not exceed the above mentioned price, and in case flax should exceed sixteen
roubles that he should not buy more than one hundred tons and that they give
Mr Allan a credit for drawing on George Clifford and Sons at Amsterdam for
three Thousand pounds in case he shall require it. And that Mr Claude
Johnston be wrote to honour Mr Clifford and Sons their bills on him and son
and advise the Company so they may put Mrjohnston & Son in cash for paying
said drafts. And the Court does further allow the Managers to make purchases
of flax from time to time till the above shall come to hand so that this useful
branch of manufacture may be increasing as quick as may be.
The Managers having represented to the Court that in the present method
or way they have been in use to provide themselves with warp yams for the
fine linen, they have experienced it to be of great loss to the manufacture,
which is by purchasing the different sorts they may want from the dealers in