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42. COMMISSION. When we convey goods by land to our agent in Baltimore to be sold on our account and risk, we must open an account called “ Consignment to Baltimore ;' but if the same goods are conveyed by sea, the account would be opened “ Shipment to Baltimore.On the Debit side we enter the cost of the goods, including the insurance, cartage, labor, etc., and on the Credit side the net proceeds arising from the sales. The balance will show our gain or loss upon the adventure (Art. 20.) Moreover, when goods are consigned to us to sell on the account and risk of the person who (consignor) sends them, we open an account after the form, « H. B. Johnson's Sales," the name of the consignor being given. On the Debit side we enter the usual charges for freight, duties, labor, postages, etc., together with our commission; and on the Credit side we enter all returns from the sales. The balance will be the net proceeds due to the consignor (Art. 9.)

43. PARTNERSHIP. In a partnership concern, instead of a stock account, we open accounts with the names of the partners respectively. The amounts furnished, and also the sums gained by each are carried to the Credit side of their respective amounts; hence the reason why stock was classed among the Personal in Estate Accounts; and also for its being sometimes called “our representative in trade"

Howard Bronson, William Milman, and Franklin Murdock, have entered into partnership, and the firm is to be known as “Bronson, Milman & Co.” The Articles of Agreement provide

1. That Howard Bronson shall manage the whole business, and for his services receive a salary of $2000, payable quarterly.

2. That William Milman shall devote his time to the interests of the concern, and receive a salary of $1600, payable quarterly.

3. That each partner shall share in the Gain or Loss according to the amount of capital which he invests.

Each partner takes a receipt from the firm for the amount which he invests in the co-partnership, and the firm opene business with a joint capital of $150,000.

July 1, 1851.



7 Draft


Howard Bronson advances his share of 41&43

the joint capital as follows: 4 Cash

$ 20,693.45 36 Cash in the Mechanics' Bank 4,528.65 74. L. Jackson's Note ...... 100.00

on Williams g Co.... 197.65 7 I. Acker's Acceptance

25,719 75 William Milman advances his part of 43

the capital in the following: 4 Cash...

$ 17,000.00
36 Cash in the Mechanics' Bank 12,000.00
7 Samuel Brown's Note ......' 6,000.00
3 Merchandise as per Inventory 15,000.00

Franklin Murdock's portion of the ori-

ginal stock consisted of the following:
4 Cash.

$ 25,000.00 3. Mdso. as per Inventory

10,980.25 9 Ship Princeton valued at ...... 39,000.00

1174,280 25


Shipped per brig Washington, (Captain)
, and consigned to Brown g Co.

Neru Orleans, to be sold on our account and

risk, an Invoice, / Art. 46,) of goods 3 & 42 amounting to....

$3,480.18 Paid cash for labor, drayage, and 4, 42 insurance

190.40 || 3,670 58

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Shipped por brig Creole, Thomas, and
consigned to Woolworth of Co., Havana,


to be sold on our account, a quantity of Mer3, 42 per Invoice

-- $6,000 4, 42 Paid cash for insurance and charges. 150

chandise, as


Shipped per brig Plymouth, Shumway,
and consigned Geó. Davidson, Liver-
pool, to be sold

our account, 800 barrels 3, 42 of Flour at $5

$4,000 4, 42 Cash paid for sundry charges.

250 | 4,250



Received per brig Boxer, Lake, consigned
to us to be sold for account of George Black,
the consignor,) Paris, an Invoice of Dry

Goods, $5,296.50.
42, 4 Paud cash for freight and duties.--$511.40
4, 42

sundry charges......


527 70

Received from James Tappen, Cincin-
nati, 500 barrels of Pork, to be sold on his
account and risk, amount of Invoice $ 4,500.

Paid charges per J. L. Jackson's 7, 42 Note, amounting lo...

$100 4, 42 Paid cash for freight



Received from the East India Co.

, per brig Europe, Cooper, an Invoice of Mer. chanılise, $9,664.90, to be sold on account of J. W. Frisbee, Havana.

Signed bonds at 6 mos. to the Cus. 8, 42 com-house for duties..

-$2,300 Check on Mechanics Bank for 36, 42 freight

1,270 4, 42| Cash paid for charges

29 | 3,599



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42 & 8

Mdse. bought


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We have freighted and fitted out the ship
Princeton for Liverpool, with goods
signed to Marcus Peyton y Co., of that
city, as per Outward Invoice:
600 barrels Flour, bought

on our Note, at
5 months, of Johnson g Co.

3,000 42, 4 Mdse., cash purchase

35,000 Goods bought of Wilkes g Co., on our 42, 8 Note at 4 months

1 2,000 42, 7

on Samuel Bromn'o Note || 0,000 Goods purchased of Compton & Co., by 42, 36 check on Mechanics' Bank..

12,000 Gave own Note at 3 months, Wil42, 8 tiams g Co., for a supply of provisions.... | 1,324 20

|| Effected an insurance on ship Princeton and 42, 4 cargo, as per policy, cash..

1,900 42, 4 Cash paid for sundry charges

We have entered into an agreement with
Jeremiah Barnum, of Havana, and
George Dunlap of Liverpool, to make con-
signments to each other on

joint account.
Each party receives two per cont. on his pure
chases, and five per cent. on his sales. This
agreement we will denominate Co. A.

3 $9

Shipped per buig Ranger

, Davis

, on ac42 count of Co. A, and consigned to J. Barnum, Havana, 400 barrels of Pork at

4 Cash for insurance

12 Our commifsion




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9 J. Barnum Dr. for his third --$1,319.20
4 G. Dunlap Dr. for his third .. 1,319.20
Shipment to Havana, Dr.




our third..


7, 42



Sold of George Black's goods to J. L.

Jackson, on his Note, at the months.... 1,600 9,

Sold of Tappen'o Pork to Wm. Page 42

-$ 600 4, 42 To sundry other persons for cash ...... 985 1,585

Sold of Frisbee's consignment, per brig

Europe, follows : 42, 4 To sundry persons for cash.... $1,950

il Wm. Page,

John Smith, on his Note, at 4 months..

800|| 2,450



on account.


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our third

Received per Victoria, Sherwood, from J.
Barnum, Havana, to be sold on account of
Co. A, an Invoice of Sugar, $15,000.

Signed bonds at the Custom-house, at 3
8, 42
months, for duties

$600 4, 42 Paid cash for sundry charges.. 9, 42 J. Barnum, Cr. for

-..5,000|| 5,800 (Debit“ Mdse. Co. A," with $5,800.)

Aug. 6
We have entered into a Fish speculation
with Emerson f Co., Gloucester

, sharing
the profits equally with them as per agree-

This will be called Co. B.
They have, as per advice received this day,
shipped to me per brig Hudson, 2000 bar-
rels Mickerel, $ 12,000.


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