Hartford Feb. 8/76
Dear Dan:
I enclose $1500, which I beg you to deposit in bank until put into California or Con. Virginia at such time as John Mackey thinks is best, & when he says sell, sell, whether at a loss or a profit, without waiting to swap knives. I suppose he will advise you, won’t he? If he won’t do it, get the advice from somebody else you can depend on. Senator Jones agrees with you that California is the most promising stock to buy, though of course it may not be by the time my letter reaches you. Use your [judgment. Don’t] buy on time, but only buy what you can pay cash down for.1
I invested all the money I had a month ago, in Illinois.2 I only venture this present small amount in stocks because I’m short. If I had $20,000 in bank I think I would not be afraid to venture it the way things look out there.
I can’t catch Bliss at home, lately, but shall try again tomorrow or next day. However, I know what he will say—viz., that he is hurrying up the engravings & can’t do anything until they are done.
Here comes a devil s to visit me3—so I’ll say good [bye] my boy.
Yrs
Mark.
Explanatory Notes | Textual Commentary
Between 1873 and 1875 the California and Consolidated Virginia mines were two of Nevada’s richest ore producers, and the
price of their shares boomed, reaching a high of $780 and $700, respectively, in January 1875. After that the
shares of both began to fall precipitously in value, a decline that was hastened by the destruction of Virginia City by fire in
October 1875. In investing in these companies now, Clemens anticipated a recovery in share value that did not come (see 7 Mar 1876, 26 Mar 1876, and
29 Nov 1876, all to Wright; Angel 1881, 612, 617–20; letters from 12? Sept 1861 to 2? Jan 1864, L1, passim). John P. Jones, a multimillionaire mine owner and
Republican senator from Nevada, had joined Clemens in 1875 in investing, unsuccessfully, in the Hartford Accident Insurance Company
(L6: link note following 28 June 1874 to Dickinson, 171–72; 29 Mar and 4 Apr 1875 to Wright, 439 n. 5).
See 17 Jan 1876 to the cashier, First National Bank of Hartford.
Source text(s):Previous publication:
Berkove 1988, 9.
Provenance:
See the Morris Collection in Description of Provenance.
Emendations and textual notes:
judgment. Don’t • ~.— | ~
bye • biy‸ye‸ [corrected miswriting]
