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Chapel Hill Jan 12/56 My dear Sir
Your favour calling my attention to the University debt has been received & I beg you to believe that your long continued Kindness & forbearance in this matter has affected me, as it ought to do. In regard to the payment required at this time I am grieved to say that it is wholly impossible. I resolved after I saw you at Chatham Court, to make any sacrafice to meet at least the interest & immediately offered my House & lots in This place for sale & had hoped at one time that I should certainly sell them as I had a positive prom =ise to that effect, but when the day came the person offer=ing said he found it impossible to raise the money – To annoy
you, my friend, with a recital of the hopes I have had blighted from time to time by the delay in the development of my Coal property on [Deep?] river & which I am now assured by the best authority will soon be of immense value, would be inexcusable, as it would be vain & there is nothing now left to me but to ask that you will no longer subject yourself to censure on my account, & that if you will bring a blank writ with you at Chatham Feb. Court, returnable to make Sep. Court next I will confess service of it – This is all I can do at present & if in the mean time or before final judgment I can sell either Coal lands negroes or House plots & which I am determined to do
during this Spring, it will be in my power to pay half of the debt & this course at least will relieve you & this to me is I assure you a great gratification.
May God in his mercy spare you my dear Friend the pangs I am now suffering I have been, for years, on account of my embarrassments With a grateful sense of yr. long & unbroken friendship, I am as ever yrs. most sincerely H. Waddell