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Rh portage earnings from the Navigation Company's purchase of the Oregon Portage on November 6,1862, to date. Directors Thompson and Ainsworth at the next meeting contended that Bradford & Co. were not entitled to anything, because of Olmstead's notifying them and the O. S. N. Co. on November 4, 1862, that the 1860 agreement was abrogated and annulled. The Bradford & Co. claim was accordingly rejected, and apparently not brought up again for over a year. The senior Bradford was, however, not disposed to drop the matter so easily and after leaving Portland to visit the Atlantic Coast he discussed it with J. C. Ainsworth in San Francisco, and the next day wrote this letter which discloses an injured soul:

San Francisco, Feb. 6, 1864.

Cap. J. C. Ainsworth.

My Dear Sir:

You yesterday mentioned to me the receipt of a letter from Mr. Flint and I now desire to say a few words in regard to the subject matter of that letter—understand what I write is not official but as between friend and friend. You are fully aware of my position toward our company when I made the sale of certain interests at Cascades and that in determining the price I was persuaded by you and other members of the directory, that by our company placing an Iron Road on the Washington side of the river I should be confirmed in my contract with the Co. even should Ruckle desire to try to break the contract we had with the Company and this consideration should more than repay me for any given sum stated at the time. You will also remember that previous to the purchase made of Ruckle's side of the river you told me in reply to my question whether this would affect my interest, that it would not; therefore trusting to our mutual understanding I did not deem it necessary to make any writings. You will bear me out that in all my transactions with the Company I have in all things acted a liberal part and felt that in counselling with you I was getting advice that I could rely upon. The ground taken by you in the board that the note of Olmstead's destroyed all former positions taken by me may appear on the face to be correct but