678

JAY COOKE

Currency:USD Category:Everything Else / Other Start Price:NA Estimated At:100.00 - 150.00 USD
JAY COOKE
<p><b><span style='font-size:12.0pt;font-family:Arial;color:windowtext'>JAY COOKE </span></b><span style='font-size:12.0pt;font-family:Arial; color:windowtext'><BR><BR></span><b><span style='font-size:14.0pt;font-family:Arial; text-transform:uppercase'>Precipitated Panic of 1873</span></b><span style='font-size:12.0pt;font-family:Arial; color:windowtext'><BR><BR>(1821-1905). American financier founded Jay Cooke & Company, which marketed the huge Civil War loans of the federal government. He later turned to railroad and mining ventures. Boldly penned signature removed from a letter, 6"x3", Philadelphia, Oct 28, 1887. Includes four words of closing lines and, ‘...<i>I must decline therefore, Sincerely Yrs.</i>..” Attractively double matted beside lithograph portrait with verso of signature panel visible including holograph dated salutation on his letterhead. VG. In 1870 Cooke undertook to raise $100 million for the Northern Pacific and financed construction to Bismarck, N.Dak. The burden proved to be too great and continuing the financing became impossible. In 1873, Cooke’s New York branch closed its doors and helped to precipitate the Panic of 1873.</span></p>