1867 BARING BROTHERS BANK LONDON HANDWRITTEN LETTER Thatcher Magoun Boston

Description

1867 BARING BROTHERS BANK LONDON HANDWRITTEN CORRESPONDENCE] HANDWRITTEN LETTER DATED LONDON 14TH JULY 1867, FROM BARING BROTHERS BANK, LONDON, TO MAGOUN & SONS, BOSTON
, 1 page, 8-1/2” x 10-1/2”,  unstamped ship’s letter, concerning notice of “Account Current…showing a Balance of 855.16 [British pounds]…Baring Brothers” [signature faded but legible];
NOTES: BARING BROTHERS:
Baring Brothers & Co.
, Baring Bank
was a British merchant bank based in London, and the world’s second-oldest merchant bank after Berenberg Bank, Baring's close collaborator and German representative. It was founded in 1762 by Francis Baring, a British-born member of the German-British Baring family of merchants and bankers…The new partnership [formed in 1804] was called Baring Brothers & Co., which it remained until 1890…The bank collapsed in 1995 after suffering losses of £827 million (£1.6 billion in 2019)
[
resulting from fraudulent investments, primarily in futures contracts…" (wikipedia);
Magoun & Son
, Boston, founded by
Thatcher Magoun
(1776-1856), a shipbuilder in Medford, MA; the firm shortly became a
highly successful mercantile firm operating out of Boston actively trading in ports throughout the world for much of the nineteenth century and having business relationships with major banking and import-export firms in Europe (online sources)
/// CONDITION:
well-preserved, small losses/pitting of paper near left side of top fold for mailing.
keywords: 19th century banking, business correspondence, London commerce, international commerce