| Confederate States of America |
| War Department |
| Nitre and Mining Bureau |
| Richmond March 10, 1863 |
| |
| Hon. J. A. Campbell A. S.W. |
| |
| Sir, |
| During December 1862, the date of the
Burke & Krunkle impressment, sales of iron in Richmond and elsewhere
in Virginia, were too irregular to fix a definite market price. |
| The largest purchaser was the Government
under its contracts and at a maximum contract price of $110 for No.
1 foundry pig. Since the impressment, one of the claimants (David
K??) has contracted for one half of the product of the same furnace
a $110 per ton. |
| In the enclosed papers, a witness
Matthew Blair testifies that as agent for Burke & Kunkle, he sold
thirty tons of their iron to be delivered in Richmond at $160per
ton. Eight tons of the iron thus sold were delivered: twenty two
tons remained at the furnace when the Government seizure was made.
The same witness testifies that the cost of transportation to
Richmond, commissions included, was twenty two ($22) dollars per
ton, which deducted from $160 would give $138 per ton as the
positively, unquestioned value of those twenty two tons of iron
still at the furnace. |
| Matthew Blair further testifies that he
could have sold the same iron to Eddens & Brannon in Richmond
at $200 per ton. |
| Francis J. Brannon testifies that he
would have paid $200 per ton, and that the Burke & Kunkle iron was
worth $200 per ton in Richmond. |
| Comall Bradly testifies that the iron
would have brought $200 in Richmond, but he himself would have paid
only $175 per ton. |
| These comprise the material points of
the evidence adduced by claimants to determine the question of
value. |
| Up to the time of the Burke impressment
I have heard of but one sale of pig iron as high as $200 per ton,
and that case, in small quantity and under circumstances of pressing
necessity. Nearly all the iron establishments of Richmond were then
working on Government accounts and drew supplies of pig metal
chiefly from Government contracts or from their own furnaces.
Outside transactions in iron were generally more of the character of
barter than actual cash sales. The more important were the exchanges
(in large quantities) by the Old Dominion Nail Works of 5 kegs of
nails for one ton of pig iron. These nails were supplied to the
Government at 30 cts per lb. and according to information from the
President Mr. W. S. Triplett were publicly sold in November &
December at 35 cts per lb, which would determine a valuation in
Richmond of from $150 to $175 per ton in such exchanges. |
| Not deeming it necessary to multiply
cases of this character, I submit the opinion that the market prices
of iron at the date of the impressment fluctuated between $150 to
$200 pr ton delivered in Richmond, or deducting $22 per ton
transportation delivered at the Seteline furnace between $128 and
$178 per ton of 2240 pounds. |
| Very Respectfully |
| Your obdt. servt. |
| I. N. St. John Major & Supt. |