$550
Estimate: $800 - $1,200
Auction: November 12, 2020 10:00:00 AM EDT
Washington, D.C.: Executive Mansion, September 26, 1873. 1 p. on lined paper. 9 7/8 x 7 7/8 in. (250 x 200 mm). Receipt signed by Grant for the return of his personal papers from American bank, Jay Cooke & Company. Creasing from original folds; three small punctures along center vertical fold. Lot includes a cabinet card portrait of Grant.
Only eight days before the signing of this document the banking firm Jay Cooke & Company shut its doors, helping contribute to the Panic of 1873. Jay Cooke's firm was the primary financer of the Union war effort, and underwrote numerous railroad projects following the war. Underwriting the Northern Pacific Railway, the second planned transcontinental railroad, caused the bank to overextend its funds and force its closure.