S Louis July 22 1818

Dear Sir

The note, received with your favor of 3rd Instanst, has been offered at every meeting of the Board since it came to hand; it was not decided on untill to-day. The Board have come to a determination to call in the usual reduction of 10 per centum on all notes of the Directors, as well as those of other individuals. They have however agreed to renew your notes at present for the whole amount, subject to 20 per cent reduction at the next renewal; but they require that the original forms of the notes (as to endorsers) shall be preserved—rejecting the proposition to consolidate them. In order that your object may in some measure be effected I have made out the enclosed statement of interest computed to this day; at which time the notes can be all dated, and the extra trouble of attending to their renewals at different times can be saved.

Wm M. OHara.

Mr Stephen F. Austin

P. S. I also laid the proposition before the Board to renew Mr. Bryan's notes, but, as the notes intended to be renewed are not yet due, they did not act upon his proposal: consequently I could not send you his old notes (as requested) by Mr Brown. Mr Bryan has a note payle next week, for which Mr. Ficklin has a notice.

[Addressed:] Mr Stephen F. Austin. Mine-a-Breton.

Ford. by Mr. Ficklin.