This is a rare, first-person document reflecting the struggle and resilience behind early Black education, philanthropy, and institutional survival during one of the most volatile financial periods of the early 20th century. A remarkable piece of ephemera offering insight into race, generosity, and perseverance in American history.

This letter was written on November 9, 1907, just weeks after the Panic of 1907, which began in mid-October and reached its peak between October 14 and October 24. The panic was sparked by a failed attempt to corner United Copper Company stock, triggering a wave of bank runs and the collapse of several trust companies.

The worst day came on October 24, when massive withdrawals and market losses forced financier J.P. Morgan to step in and stabilize the banking system.

This letter was sent by Frederick W. Hartwell, a Providence industrialist and the son-in-law of Rev. Joseph C. Hartshorn, to Lyman B. Tefft, president of Hartshorn Memorial College, a historically Black women’s college in Richmond, Virginia. Rev. Hartshorn—Hartwell’s father-in-law—was a Baptist layman and philanthropist from Rhode Island who provided the initial funds to establish the college in 1883. His support—and belief in higher education for Black women—was instrumental in the school’s founding, and this letter reflects the continued financial involvement of his family.

Founded in 1883, Hartshorn was one of the first institutions in the United States dedicated to the higher education of Black women, offering rigorous academic instruction and moral guidance at a time when such opportunities were extremely limited.

Despite noting that he was personally “strapped for money” due to a missed dividend payment, Hartwell enclosed a cashier’s check for $4,882.37—a significant gift—and offered names of others across the country who might be willing to contribute to the school. He even mentions skipping Christmas presents that year to make ends meet, underscoring his commitment to the college’s mission.

[Full transcription below.]

Providence, R.I.

Nov. 9, 1907

Hartshorn Memorial College

Lyman B. Tefft, President

My dear Mr. Tefft—

Enclosed please find cashier’s check on Philadelphia, Merchants National Bank, for $4882.37, which please put to my credit on the Hartshorn Fund.

The financial situation is no worse here and on the whole there is more confidence generally, and in two weeks’ time I expect to see a fixed improvement.

As wrote you last week I hope to reserve for you a memorandum of your needs, so I will know just what to provide for in payments, and which accounts to draw first where the interest is the smallest.

We are busy at the shop but collections are very slow. Personally I am strapped for money, as the General T.F. & Co. passed its dividend (Nov. 1st), and I was depending upon it to take care of several obligations — but as we are invited out for Thanksgiving dinner & I think we will get along until Christmas and then skip that as far as presents are concerned — so pull through after a fashion.

You better mail circular and letter to Miss A.J. Arnold, Ontario, California. This place is a small town of about 4000 people, about 40 miles from Los Angeles. She had gone there to live — certainly permanently, for or the present at least.

Also mail with letter to R.S. Colwell, Granville, Ohio. He ought to give you something, although I think he goes to Greece — in the spring.

Mail to Deacon Andrew Grossman, 137 Grosvenor St., Providence. You know him. I would send a letter — I think you will get something.

Mrs. Stephen Greene, Newton Centre, Mass. will probably give you something. Her son Mr. Edward F. Greene of Pacific Mills, Boston — Mass. He has recently been elected treasurer with a salary of $25,000 — and later on when you come and call upon him & work him, I think explaining a little, and possibly he would send something. He is a young man of 30 years I suppose, and has been very successful.

Hope you will keep well. Do not work too hard.

With kind regards to all the bunch.

Sincerely yours,

F.W. Hartwell

Keywords:

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More about F.W. Hartwell:

https://www.findagrave.com/memorial/61109892/frederick-w.-hartwell