Pages 50 and 51 of the Robert Stephenson & Co Ltd minute book no.1

[Page 50]

At a meeting of the undersigned partners of the firm of Robt Stephenson & Co held on their premises in Forth Street the 13 of 2 Mo (Feby) 1840
The outlay on the Buildings & machinery in the Year 1839 having greatly exceeded our anticipations -
Resolved, that in future this description of expenditure be vigilantly attended to and that in future estimated in all cases where the cost of Buildings or Machinery is likely to exceed £200 be laid before the partners and subject to their conclusion -
Resolved, that as an Article in our partnership agreement provides for the circumstances under which any partner in the concern, who is desirous of withdrawing from it, shall be placed and the manner in which his interest shall be estimated, that any such Article shall be for the present suspended & subject to future consideration _
Resolved, that 5 per Cent deduction for deterioration on the Buildings be made at our next annual Balance, 10 per Cent having been deducted the two preceding Years _
Resolved, that an increase of Insurance of £2000 be made on the Amount already covered on the Buildings Machinery Materials &c belonging to the concern.

[Page 51]

Resolved, that an arrangement by letter be made Amongst the partners once in 3 Months to meet either on these premises, at Durham, or Chester le Street, & that Robt Stephenson or his Father or both be expected to attend at least twice in the Year
Resolved, that from the great expenditure in Buildings &c the sum of £10000 be added to our joint Capital _
Resolved, that E. J. Cook endeavour to ascertain and procure all the Title deeds and leases of these premises and hand the same to Michl Longridge to be deposited in the safe _
[Signatures] Edward Pease
Michl Longridge