The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-08-03

Recent Failures-J.. b. Ford 6 Co, Duncan,
Sherman G Co. New York's Great Editors,
Greeley, Bennett, Raymond : Their Char
acters Analyzfd-valuo of Old Papers

Greeley, Bennett, Raymond = Their Char
aoters AnalyUd-Valuo Of Old Papers.
NEW YORK, July 80, 1875.
The atrnosy here is rife with misfortune.
Bankruptcy, foundations and sudden deaths
are the events of conversation. But the
question arises shall men under such cir
cumstances yield to despoudehcyp Is not
this frequent experience in the history of
the word5 Arc we not to expect them as
naturally MS storms upon the ocean, That
men should fail is as natural as they should
die. Failures sometimes occur in rapid
succession, just as deaths are increased
during an epidemic. Among the recent
suspensions l notice that of
FORD & co.
The failure of this house is very nat
ural consequence OF their peculiar condi-
ton. The chief trouble was an original
deficiency in capital. j. b. Ford had but
little to commence with, and yet he got up
heavy concern. The surprise with many
is that the firm held out 80 long. Another
feature in the house was its unsaleable
books. They Invested large sum in the
Library of Poetry and Soug," and had
great expectations of its success, but were
disappointed. The book is really fine
one, and deserved large circulation, but
| it did not succeed though widely canvassed
| by agents. The only work of their I'M
| print which had a good sale were Mrs.
| Stoves novels, but these we're not enough
| to compensate for the losses on other works.
1t was much like the case o; the Blnnatynes,
who published Scotts novels. They had
| little capital, and the losses on their heavy
publications cancelled II profits Of the
| Waverly novels. Ford < Co. made their
| heaviest adventure on + eCher's "Liie OF
Christ" in which $4,000 were invested.
This went of finely nt first, and all that
was required was the rapid conclusion Of
the task. When the first volume, however,
was issued, the peculiar troubles began to
gather round Beecher, and thus prevented
the completion Of the work. 1t has re-
suited in heavy loss The firm is one of
high tone and noble ambition, and deserved
success. Mr.. Howard, one of the part.
mere, is a brother o. Joe Howard of the
Star, with whom he is often contounded.
Sam Wikeson, another member of the
firm, is a Buffalo man; by profession a law
yer. He studied in the Office of the late
Daniel Cady of Johnstown, and married
one of his daughters. Turning from law
to journalism he conducted paper in Buf.
falo, and then bought an interest in the
Albany Erening Journal, which he edited
for several years. Subsequently he was
on the staff of the Tribune as a war cor
respondent, whence he entered the service
of Jay Cooke & Co and assisted in the
sale Of bonds. He then got int the firm
of ]. b. Ford & Co., and, having so many
strings to his bow, he will no doubt soor
get into some other business. He has Of
ten been knocked high as a kite, but ha,
always leaped on his feet. Sam Wilkesor
is Beecher man, but his wife's sister
Mrs. Henry b. Stanton, is aniagonis.ic
The family is thus divided, and it is TO b,
. hoped that they will yet be united on th
important point.
DUNCAN, SHERMAN & co.
9 They begun in a small aud very careful
way, in a little office in William street, and
, had they continued this method, they woul,
have been still prosperous. l well remem
: Der that little office, and have seen tn
concern swell till it filled great establish
ment and had 80 clerks. ! have oftel
e thought, when standing in this establish
: ment, what an immense expense it WAS sub
t ject to. The taxes alone last year wer
50, 800. The clerk hire was not less tina
I $50, 600 year, and other things were i
: proportion. No wonder they failed. TIL
: present Sherman does not inherit his father
q financial talent. The original Watts SheI
man was an auctioneer in Utica 20 year
ago. His son became bank clerk, an
- then Little Falls cashier. He got &C
Il quainted with Corning when the railroa
was built, and the latter invited him to tn
cashiership of the Albany City bank. Ii
was in the habit Of dscounting large qnau
titles of New York business paper, and ou
k present ex-senator L. ID. Morgan was on
=, of his patrons. This intimacy with tn
: metropolis led him to come hither, but
/ would have been better for his family ba
he remained in Albany. lie had a beaut
! full house and grounds with conservatory
which are now owned by Gen. Rathbont
IS This failure will throw large number
II clerks out of employment, but its fnanci,
effect will be of limited character.
NOTES OF THE CRAFT.
The journals that survived the perils
: childhood could not remain in that earl
!, home The Hxah moved into the site
is the Bennett building, and there entered il
, to its career of progress in wealth and eI
), terprise, while the Tribune removed to ii
corner of Nassau aud Spruce street
"a (since then dignif I'd by the title Printir
House square,, and its new tower still r,
tains the locality. Dealers in paper stoc
. took the places thus vacated, and it BEGAN
n the great centre of purchase. This lea,
d to the remark that there are two great Ii
n erary currents working in an opposite maj
ner.
10 COMING AND GOING.
J. One is that which leav, this city in Il
Is shape of journals and books, while the 9TH
y is their return as mere literary lumber
only food for the paper null. They al
picked up in the country 10y The itineral
tin-peddlar, and as each mans trade Gel
tiers here, the aggregate quantity is equ
to so tons a week. The stock is hurried
If looked over, and all volumes which ma
bring more than the price of old paper, al
d exposed on board for sale. l occasional
ly make purchase, and my last volume
one of Crabb's poems, which OBJ aimed #
> dime. As soon as get in funds am gor
to buy copy of Hawthorne for % cent
J. and in this way am building up librar,
Let no man despise the day of small thing
N A quarter of dollar is not much in Wa
street, but in the cradle of genius it has
n potential sound. 1t was a great deal
money to Greeley in his early days, whe
he used to buy writing paper five cent
u worth at time, and this sum would atfoi
him both stationery bread for at least tw
C days. He was then thin but not pun,
He had a sweet, cheerful face, and it d
n me good to look at him. Such was Creole
when he first met my eye. The tall, thi
- young man came into the bookstore hei
!, | was clerk, and laid down few copper
" asking for paper. He took what was give
him and walked out in silence. He was
Is struggling Bohemian of 80, while was
II struggling clerk of II. One thing we ha
in common, and that was poverty.
e ANN STREET AND THE NEW YORKER
is The Nclc Yorker is now almost forgotte
but it was dearer to Greeley than anythin
y he ever wrought. The Tribune he ws
n proud of, but the NeW Yorker be love-
1t was born and died in Ann street. For
n years it gave signs of prolonged life, an
|, Greeley watched it with parental anxiet,
He did not work for profit, but he hoped