Messrs. Payne, Huntington & Co., holders of a receipt of J. B. D. De Bow, superintending cotton loan, for $405,000, payable in coin, agree to receive from J. B. D. De Bow a sufficient quantity of Orleans middling cotton, on the basis of 6 cents per pound, to absorb the amount, and J. B. D. De Bow, on the part of the Confederate States, agrees to deliver the same as above to Messrs. Payne, Huntington & Co., upon the following conditions:

First. To be delivered to them within thirty days, free of all charges, on plantation in this State or Mississippi. The planters to store the same until called for, and then deliver it at his usual shipping period in good order and free of charge.

Second. To be protected and guaranteed by the Government against damages and destruction by Confederate officers or citizens.

Third. The usual custom to be followed in relation to sampling, loading, and weighing; but if Messrs. Payne, Huntington & Co. are not satisfied with same they have the privilege of calling in their broker and if the two do not agree, the latter to have the privilege of calling in a third, and their joint decision shall be final. Entire good crop shall be received, the scale of prices tf 6 cents for Orleans middling.

It is understood and made a part of this agreement that the cotton which will be accepted to fulfill the contract shall be sampled, weighed, and classed by the cotton brokers already selected by the parties, and received by Mr. De Bow and delivered to Messrs Payne

Huntington & Co. upon his classification, according to the scale also agreed upon and in possession of the contracting parties.

WM. H. DAMERON,

President pro tem. Bank of New Orleans.

PAYNE, HUNTINGTON & CO.

J. B. D. DE BOW

Agent Produce Loan, Confederate States.

NEW ORLEANS, April 17, 1862.

E. - B. F. B.

J. B. D. De Bow, esq., Superintendent Produce Loan Office, Confederate States of America, to Ed. Gautherin & Co., Dr.

E. G. C. B. 182 bales gray cloth, measuring 54,743 5/8

yards, at $2.55......................................$139,596.24

E. G. C. C. 427 bales gray cloth, measuring 134,626 2/8

yards, at $1.97 1/2.................................. 265,886.84

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609 bales, measuring 189,368 7/8 yards..... 405,483.08

Received from the Bank of New Orleans in payment of the above invoice the sum of four hundred and five thousand dollars, leaving unpaid a balance of four hundred and eighty-three dollars and eight cents.

ED. GAUTHERIN & CO.

$405,000.