NOT SOLD (BIDDING OVER)
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This item WAS NOT SOLD. Auction date was 2010 Aug 16 @ 11:00UTC-4 : AST/EDT
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JAY COOKE (1821-1905) Railroad magnate and Financier. Autograph Letter Signed, “Jay Cooke,” on "Edward W. Clark & Co. Bankers” letterhead. Philadelphia, March 29, 1858. 1pp. 5" x 8'. The Banking House of E. W. dark & Company employed the rising star and future legendary magnate from 1836 to 1857. To Israel Morris, Esqr. Cooke writes: “Chairman, I shall go out of town at 10 this morning therefore shall be unable to meet with the Committee -1 have talked with members of the 'Board' - & altho the prospect is small for any considerable subscriptions to the [illegible] company -from the Bankers yet it is recommended that you should address a short communication to our Mr. Edward WClark, to be read by him at the Board - after which if they do not appoint a committee (for which you had better ask) you can seek some other mode of asking for subscriptions of them Very Respy. Jay Cooke I would add that yr letter had better be addressed jointly to Charles Camblor & Edwd W. Clark” At the young age of 18, the industrious Cooke entered the Philadelphia private banking house of E.W. Clark & Company. Within three years he became a member and before he was 30, he was also a partner in their New York and St. Louis branches. During the Panic of 1857, the firm failed, forcing Cooke to look for other employment of which was occurring when he wrote this letter. He opened his own banking firm. Jay Cooke & Co. in 1861 and was credited with issuing government bonds for financing the Civil War, raising over $2,000,000 in that year. Lightly creased at upper blank edge, tiny chip at lower right comer, otherwise Fine.
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