The New York herald., 1875-08-23


Drexe Hares Co. to the correspondents in Europe of
Messrs Drexel Morgan Co., under the recent assign
of credits to that firm by Messrs Duncan, Sher-
man 4 Co. -
No 81 BOULEVARD HAUssMANS(
PARIS, August o. 1875. (
SIRs-we hereby inform you that we, or Messrs J. s
Morgan Co., of London ready to encash, prior TO
the lst OF November next, the amount now owing on
circular circular letters OF credit issued to
travellers by Messrs Duncan, Sherman Co., of New
York, upon the following terms, viz. =
Est-The surrender OF the circular letter Of credit
las the be the circular notes. and in the latter
case with the draft the back of them duly filled up
dated and signed and accompanied also by the letter of
indication.
Second-The signature and delivery of letter of as
sgnment the form enclosed OF any securities which
may have bcen lodged with Messrs Duncan, Sherman Il
Co obtaining the letters OF credit or circular notes
This letter OF assignment must be signed in all cases
whether the holders of the circular notes or letters Of
credit state they have given securities not because
shall be unable to satisfy ourselves that point
without reference in each to New York All the
blanks the Of the letter of assignment be
properly filed up, and the signature of the holder
should be attested by you
The offer make is confined to balances belong
ing the travellers 10 whom the letters of credit
circular notes were issued and 1t is not 10 extend to
amounts purchased from them by you or other persons
prior to the date OF this notice
Cash will be paid circular letters of credit will
be issued by by Messrs. J. ). Morgan Co., No
% Old Broad street. London, day after receipt Of
the required documents provided they are found in ac
cordance with the preceding conditions Circular let
ters of credit will be transmitted by post under regis
tered cover Your obedient servants,
| DREXEL HARJES & co.
| ASSIGNMENT OF RIGHT TO SECURITIES
Messrs Duncan, Sherman Co. have issued to me the
aforementioned letters of credit and circular for
in travelling, which there Is the undermen-
toned amount still owing to and undrawn for and
in consideration of Messrs Drexel Morgan l. Co, OF
| New York, having, through their aforementioned
agents. at the time of the signature hereof paid the
said amount owing to me on the SAID letters OF credit
and circular notes given other letters of credit of
their own agents for the said las do hereby
acknowledge do hereby assign to Messrs Drexe
Morgan Co. the said letters of credit and circular
notes OF Mcssrs. Duncan, Sherman a. Co. and the
amount now owing thereon, and the right to my
in that may be necessary for the purpose
of obtaining payment thereof from Messrs Duncan,
Sherman CO., or their estate and hereby authorize
and require Messrs. Duncan, Sherman & Co., and all
persons having the control of their estate deliver
and make to Messrs. Drexel, Morgan n Co..
they shall direct any securities given deposited by
me to or with Messrs Duncan, Sherman X Co.. on OBJ
tanning the said letters of credit and circular notes and
hereby declare that the securities shall be held
by Mcssrs. Drexel, Morgan X Co. security for the
payment by me to them of any which am lnbc
to pay Messrs Duncan Sherman Co. in respect of
the said letters of credit and circular notes and that
they shall have all the rights and remedies which
Messrs Duncan, Sherman Co had respect thereof,
and undertake to pay Messrs. Drcxe, Morgan L. Co.
any which | am liable to pay Messrs Duncan,
Sherman Co. in respect Of the said letters OF credit
and circular notes.