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Ingram, Orrin Henry, 1830-1918 / Autobiography, Orrin Henry Ingram : May, 1830--December, 1912
(1912)

Selling the city bonds,   pp. 60-65 PDF (1.2 MB)


Page 61


ORRIN HENRY INGRAM
to get an offer. By that time the bank had advanced about
$40,000 to the Dells Improvement Company and Mr. Clark said
to me he was not willing to advance more money from the bank,
that the bonds must be sold at some price, and that it was up
to me as president of the Dells Improvement Company to make
some disposition of them. It was a case where something must
be done. I didn't have any acquaintance in New York to help
me in a transaction of that kind, but Mr. Leland, who had been
in the bank with us, was then with Appleton Brothers, at a
salary of $10,000 a year, to finish an encyclopedia, and had
rendered what aid he could to Mr. Moon and Mr. Gleason. The
bonds were still with the Importers & Traders Bank and Mr.
Clark gave me an order to get them. Without announcing
that 1 was going to New York I took a train and when I
reached Harvard Junction arranged with the conductor for
time to go to the telegraph office to wire Mr. W. F. Coolbaugh,
president of the Union National Bank of Chicago, asking if I
could meet him at the bank on the arrival of that train, about
four o'clock. Ingram & Kennedy kept an account with the
Union National Bank, and it was the Chicago correspond-
ent of Clark & Ingram. On the arrival of the train I drove to
the bank and found Mr. Coolbaugh waiting. I told him what
I wanted, what our fix was in regard to the bonds, and that I
was on my way to New York to dispose of them. I told him Mr.
Clark was worrying about the matter and that the company
was calling for money all the time. After explaining the situa-
tion pretty fully to him, he said, "You need not worry about
that; I can let you have the money you will need until you can
realize on the bonds." I then told him my main purpose in
meeting him was to see if he couldn't give me a letter to some
one in New York who could aid me in selling them. "Yes,"
he answered, "I can give you a letter to Austin Corbin. He is
a banker and broker and one of the most influential men in
New York City, and my relations with him are such that he will
respond to any letter that I will give you." He wrote a good
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