When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
1876 Galveston, Texas First of Exchange for $4652.
Issued February 5th, 1876 in Galveston by Alexr. H. Ladd, payable to Ball Hutchings & Co., and drawn on T. Coolidge of the Lawrence Manufacturing Company in Boston.
This is a First of Exchange (Second unpaid), the standard form used for large commercial transactions in the cotton trade between Galveston and New England mills. It has an ornate engraved left panel reading “Alexr. H. Ladd,” a multicolored rainbow security underprint, and a large “FIRST” written across the face. The printer is Corlies, Macy & Co. of New York.
Key details:
• Date: February 5th, 1876
• Place: Galveston, Texas
• Amount: $4652 (written as “Forty six hundred & fifty two Dollars”)
• Number: No. 2159
• Drawer: Alexr. H. Ladd (Alexander H. Ladd), Galveston merchant and cotton factor
• Payee: Messrs. Ball Hutchings & Co.
• Drawee: T. Coolidge, Esq., Lawrence Mfg. Co., Boston
• Signature: “Randolph for Alexr. H. Ladd”
The reverse shows multiple endorsements, including negotiation through the National City Bank of New York. This is typical of a large commercial draft of the period and shows the banking path the instrument traveled.
Uncommon 1876 Galveston cotton-trade example. Ball, Hutchings & Co. was one of the most important banking and commission firms in Texas (later becoming Hutchings-Sealy and part of the lineage of the oldest bank in the state). Alexander H. Ladd was an active Galveston cotton buyer. The draft is drawn on a major Lowell, Massachusetts cotton mill. Strong piece for collectors of Texas history, Galveston, the cotton trade, or 19th-century financial documents.
Condition: Circulated with normal fold creases and age toning consistent with 150-year-old commercial paper. The handwriting and printed elements are clear and legible. Currently in a clear protective sleeve. See photos for exact condition.
Ships flat and well-protected. Please review all photos carefully, as they form part of the description.
