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for money, and know better that most people from long habit & knowledge how capital is to be invested in that way, where they are to be found.  I lament prices should now rule so high owing to this unfortunate wine disease; but when the vines come round there is no doubt as formerly, that the 1st growth of Claret & Burgundy in their prime will now be worth onboard for [indecipherable] more than 6 fr. & Champagne 4 or 4"50 C pr bottle.
At present the lowest priced wines I would recommend for shipment to such a climate as that of Sydney, would be wine of 500 [indecipherable] to which adding 120 fr for bottling would make something like 2 fr 30 C pr bottle.
Such wine would in ordinary times cost more than 300 fr the hhd and be as good, it would then stand in 4 20 fr bottled the proceeds of a hhd is on an average 2 70 quart bottles, on which you may always rely, if the bottles are smaller of course than the quart, then they are cheaper.  You can thus make by a very simple Calculation the cost price of Claret in Bottle when you know what it is by hhd.  We ship largely in that way; but of course if only shipping by fractions of a hhd & in cases of 12 or 6 doz; the price pr bottle is enhanced; not very much however for St Julien @ 27 fr. pr case wholesale, is sold by us [indecipherable] 30 fr. pr case.  
The best plan if your Club adopts your suggestion; would be for it to give its orders yearly or half yearly; or desire quarterly [missions?] to be made, and state the number of dozens of each growth or quality they require, and if they want a price, which they would state, or a growth.  I give you here the assurance that as regards price they will get the full value for their money; and with regard to growth & vintage; unless the wine has failed; or is not to be had for some cause or other, that they shall have what they ask for on the best possible terms.  The wines to be paid for after arrival, & the Insurance [effected?] = here #

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