not Barlow at once charge his sub-agents with the fact of their
misdoing?6 Instead, he continued business relations with them,
and even at this time was seeking to organize a new company in
Paris, a seemingly perfectly useless and thankless task. The
matter is inexplicable so far as Barlow's conduct is concerned.
At all events, Duer's drafts were not honored, and the Scioto
Company's bargain with the Ohio Company lapsed. With it
faded away the last hope of the Scioto Company to fulfill its
engagements and make a successful end of its speculation.
Colonel Duer, however, did not lose heart, although the failure
of Barlow to pay his drafts was a severe blow. He determined
to continue his efforts in America no matter how disappointing
the results of his agents' efforts in Europe had been.
The contract of the Compagnie du Scioto formed by Barlow
in Paris on August 3, 1789, was given up in January, 1790, owing
to the failure of that company to make its first payment at that
time.7 But this failure of the company was not made public until
some time later, when a new company was formed. The informal
transaction on which the new agreement was based took place in
March, 1790, soon after the departure of the first emigrants for
America.8 But the new company did not become public until
July 22, 1790, when Barlow contracted with it for the formal sale
of his preemption.9
The new company was composed, formally at least, of Fran-
çois M. J. de Barth, in his own name and that of his father,10
Marc Anthony Coquet, Louis Philippe Douvalette, and William
Playfair. In the act of formation the new company was termed
the Company of the Scioto, but from the name of its principals it
has been known as the De Barth-Coquet Company. The profits
and losses of the company were divided into one hundred equal
shares.11    Of these the De Barths, father and son, took fifty to
«That he did not do so and that the money must have gone in some
way is the sole reason we have to doubt the honesty of Barlow in the
whole affair.
TSee Barlow to Benjamin Walker, December 21, 1790, G. P., Vol. I,
p. 139.
8See Barlow to Benjamin Walker, G. P., Vol. I, p. 139.
BCurious how often this preemption was supposed to change hands.
lOThe Count de Barth, a member of the "Twenty-four" and at that
time in America.
usee Act of Formation of the Company, G. P., Vol. Ill, A, p. 244.
39