Complex sentence: Edward speculated heavily in real estate, and gradually lost the family's wealth in the depression that followed the Panic of 1873, and when Louis was seven, the family lost their home, moving to Saratoga, New York, with help from Eliza's family.
Split into simpler sentences: Edward speculated heavily in real estate, and gradually lost the family's wealth in the depression that followed the Panic of 1873. When Louis was seven, the family lost their home, moving to Saratoga, New York, with help from Eliza's family.