New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-19
THE GOVERNMENT BANKERS.

HISTORY OF The FIRM OF JAY COOKE & co.
The banking firm of Jay Cooke * Co., originally
founded IN Philadelphia. has extended its affairs
until its reputation as Of the foremost of Amer
lean bankers has become world wide. For many
years il was exclusively Philadelphia house, but
on the breaking out of the war and the Application
of the Government 10 the people for money where
with to suppress the Rebellion, the house took an
active part in the negotiation Of these loans. They
established house IN Washington, and, IN
1866. another in this city. They negotiated
the famous and popular 1-3O loan. Later they were
engaged in other operations, and their extensive
advertising in all civilized countries helped to give
them their extensive reputation. More recently
they have been identified with the funding OF the
new United States bonds, which have been 50 fully
described in these columns They have been the
acknowledged head and front OF the Government
Syndicate and the members have always in later
wears been regarded AZ a power behind the Admins
tration throne.
Jaw Cooke the head Of the firm. resides IN Phlla-
delpha, and has been noted for his hospitality to
large Numbers of ministers who have made his
island at Putin Bay their Summer homes.
Henry d. Cooke, the head of the Washington
house is better known as the late Governor of the
District of Columbia.
The other members of the firm n. c. Fahne-
stock j. A. Garland. and Pitt Cooke resident New
York partners). William &. Moorhead aud George &.
Thomas, Jay Cooke, jr., of Philadelphia.
About three years ago the firm established a house
in London under the name of Jay Cooke, McCulloch
a. Co. The resident members abroad are Hugh Me
Culoch tex-SecretaIy of the Treasury j. ii. Pules-
ton aud f. II. Evans. Upon the establishment Of
tins house they were made the governmental imam
cial agents abroad. supersediug the Barngs Pitt
Cooke and ex Secretary McCulloch are now on their
way TO this city, the former being expected TO ar
rive In a few days.
Jaw Cooke d Co have not been dealing largely in
stocks at the Exchange for year past, having
turned over their commission business to another
firm; consequently the members Of the Stock Ex-
change lose little directly by their suspension be-
yond the extent of the decline in prices caused BY
the panic and by the natural consequences Of the
failure of a house in such standing The liabilities
of the firm are placed at from S30Oo0O0 to $5O00OOO
but a. nothing definite has yet been announced TINS
estimate must he regarded mere conjecture.
BANKING INSTITUTIONS AFFECTED.
The following are the banking institutions and
trust companies for which Jay Cooke a Go. are the
the financial agents in this city:
Preedman's Savings and Trust Company, Huntsville
Ala.
Freedman's Savings and Trust Company, Mobile, Ala
Jay Cooke 4 Co., Washington. ID. G.
Jay Cooke a CO.. Philadelphia, Penn.
First National Bank Washington, d. G.
Freedman's Savings and Trust Company jacksonville
Fla.
Freedman's Savings and Trust Company, Tallahassee
Fla
Freedman's Savings and Trust Company, New Orleans
La.
First National Bank. Duluth, MINI.
L. W. Clark A Bro. Duluth. MINI.
Jas 4. Brady a Co, Pittsburgu, PeuD.
hempe * Jones. Pittsburgh, Penn.
Mulson's Bank, Montreal. Canada,
Jay Cooke, MoCuloch a Co, London. England.