Sir/

The Commissioners of the Navy have received and considered your proposal respecting the Sale of the Ship Yard at Hobcaw, which they find to be different from what they expected from the Conversation they before had with you,¹ both respecting the Commission charged on the purchase and the Terms of your attendance; the Commissioners understood you were willing to carry on the Yard holding a Share yourself and to receive a proportion of the profits upon which principle they desired your proposals—M^r Livingston's² condition also of sending any Vessels that he [break] e to the Yard, in preference to all Others is not agreeable to them tho the Commissioners would by all Means give the preference to Continental Vessels Another principal obstacle with them is that you have not proposed any term of time to remain at the Yard, they could not think of making any Agreement without your engaging to carry on the Business of the Yard for a term of Years— 

Should you be inclinable to alter your proposals either to carry on the Yard jointly or to receive a certain Share of the Profits for your Management, they will recommend the matter to the President & Council for their approbation.³