1852 New York Business Letter from Dibblee Work & Moore to Swan & Andrews re Pinney & Samson Debt Collection
Blue paper, brown ink, approximately 8 x 10 inches per page, 4 pages, with natural folds and age toning.
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This antebellum era business correspondence provides insight into 19th century New York commerce and debt collection practices.
Transcription:
New York Feby 28. 1852.
Messrs. Swan & Andrews.
Gentlemen We inclose to you a statement account together with the notes of Messrs. Pinney & Samson to which we ask your prompt attention —
We hear that this firm has sold out — and although we believe them solvent, they are known to be deeply involved and we wish our claim to be arranged immediately by collaterals or security which will insure its early collection — We understand that Mr Joshua Baldwin now holds a large amount of securities to indemnify him for indorsements and if he can do so with safety to himself we would be glad he would endorse this paper also with the consent of Pinney & Samson that we may avail ourselves of the use of security now in his hands, if he cannot do this without risk of loss we will ask Mr Baldwin to cooperate with you in securing the claim — We know he has great influence with Nathan Samson and with Mr Pinney also and if he urges the matter he can obtain any security in their power to give.
Pinney & Samson both pledged themselves to our Mr Moore that a payment of $100 dollars should be made on their notes before the 1st of March and that the acceptance of Pinney & Donnabel would be paid at maturity — They have now received a cash payment of $4000 on the sale of their goods and can have no excuse for any longer deferring payment.
You will urge this upon them. get all the money you can and security for the payment of the remainder at the shortest possible time.
We are most anxious to arrange the notes against Pinney & Samson as it is still possible that the Pinney & Donnabel acceptance may be paid when due though we would very much prefer that the whole debt should be fully secured.
We do not know the amount of the indebtedness of this firm — We know their assets are large and think they will ultimately pay all, but we wish to avoid having our debt locked up for an indefinite length of time.
These Gentlemen are under many obligations to our house and should prefer us to many other creditors by giving the best of security.
In arranging this business you will not make any change in the Pinney & Donnabel paper if you think any reliance can be placed in their assurance of payment and at all events we would not change it unless you can get better paper. Hold Mr Pinney up to the shortest possible time (deferring payments is a kind of mono-mania with him) but we think you can secure the payment of the whole claim within 12 months.
We first thought of sending one of our firm to Columbus but knowing your influence with Messrs Pinney & Samson we have decided to send the paper to you and believe you can arrange it better than we could if we were present —
We have not sent you the Pinney & Donnabel acceptance as it is payable at the Ohio Trust Co in this city but we will forward it to you immediately if advised that you have included it in the settlement.
If Mr Joshua Baldwin can safely endorse the paper of course we would prefer that to any other security but we do not wish him to do any thing of the kind unless perfectly secured against loss —
We remain
Your friends
Dibblee Work & Moore
Of course we do not mean that Mr Baldwin should endorse the paper we now hold but that he should assume the payment of this or new paper you may take in settlement if he feels amply secure in doing so.
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