Description:

P.T. Barnum, Two Shady & Secretive Letters Relating to Land Speculation, "to be destroyed as soon as read"

A pair of letters written by American showman Phineas T. Barnum (1810-1891), featuring a total of three signatures as "P.T. Barnum."

The lot is comprised of:

1. A 4pp autograph letter signed by Barnum, the first time as "P.T. Barnum" at the top of the first page, and the second time as "P.T. Barnum" at the bottom of the third page. N.d., n.p., but a former collector pinpoints it to Boston, Massachusetts on September 5, 1855. Inscribed overall on three sheets of stationery, with pages two and three appearing on either side of the same leaf. Slightly deckled left edges, and expected paper folds, else near fine. 5" x 7.75."

Barnum's correspondent is believed to be Henry B. Curtis (1799-1885), a lawyer and trusted business adviser from Mount Vernon, Ohio. In the letter-- whose contents were so compromising that the author demanded that they be immediately destroyed--Barnum explains the details of a proposed land speculation deal involving a partner named J.W. Gray (1814-1862), then the Postmaster of Cleveland, Ohio. (Gray had been appointed the Postmaster of Cleveland, Ohio by President Franklin Pierce in 1853, and he held the position until at least 1857.) Barnum asks Curtis to investigate Gray's claims about the risk and reward of the deal, since he mistrusts his potential business partner.

Barnum writes in part:

"Strictly confidential + Private. This is to be destroyed as soon as read. P.T. Barnum

J.W. Gray Esq Post Master at Cleveland has the location of the site for the Custom Houses. He says it is where no person suspects + that it will enhance the adjoining property vastly. He offers to join me in the speculation of buying adjoining property + selling nearly as soon as the location is known + as soon as the property has risen on the strength thereof. If I join him I am to furnish all the funds; which he (I think mildly) supposes should be $50,000, + says we can clear $50,000 in a few months…

I hope to hear your decision at your earliest convenient. If the Cleveland folks have already got high notions for the land it may be a poor look to speculate but if as Gray says this is a location not suspected, the chance may be a very capital one if purchases are made low enough…

In strict secrecy + confidence + great haste

Truly yours P.T. Barnum

Of course when we come to business Gray…must sign an agreement to there in profit + loss, and care must be used that there is no double dealing - by getting parties to ask fictitious prices tc.

P.S. What I mean by 'double dealing' is this. [Of course you are not to breathe it] We both know that when men are supposed to be wealthy there are always rats who continue all ways to get a nibble at the money bags. - Now it is possible that G. might have 'a wheel within a wheel' - that he might say to a land owner - 'Your price is $27,000. Make it $37,000 don’t take a cent less I will send you a customer at that + then you give me the $10,000.' This point must be watched.

I am sorry to say I have had such games played on me by men who pass for men of honor…"

2. A 1p autograph letter signed by Barnum as "P.T. Barnum" at bottom. Written in Boston, Massachusetts on September 8, 1855 on bifold stationery advertising "Barnum's American Museum." Blank inner pages. The whole back page is devoted to promoting a new novelty, "Barnum's Gallery of American Beauty," local tryouts for an international beauty contest. Expected light paper folds, else near fine. Folded measures 5" x 7.625."

Barnum addressed this letter to Gray, introducing Curtis, "a wealthy + reliable as well as judicious legal gentleman from Mount Vernon, Ohio…the only living man to whom I have or shall intimate our affairs. You can rely fully on his integrity + secrecy…"

The pair of letters amply demonstrate the shrewdness and sensitivity that enabled Barnum to read market conditions, satisfy popular cultural trends, and build his entertainment and real estate empire. Yet sadly, Barnum's business acumen often failed when it came to land speculations such as this one. He invested hundreds of thousands of dollars chasing real estate bubbles over his career and lost substantial sums.

Barnum's American Museum had been a cultural fixture in Lower Manhattan since its opening in 1841. The five-story building at Broadway and Ann Streets provided every imaginable entertainment to skeptical New Yorkers: natural history specimens, wax figures, new inventions, relics, demonstrations, little people, fat ladies, and a large array of exotic animals that included a polar bear, anaconda, lion, tiger, alligators, monkeys, tropical birds, and two Beluga whales.

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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Bid Increments
From: To: Increments:
$0 $99 $10
$100 $299 $20
$300 $499 $25
$500 $999 $50
$1,000 $1,999 $100
$2,000 $2,999 $200
$3,000 $4,999 $250
$5,000 $9,999 $500
$10,000 $19,999 $1,000
$20,000 $49,999 $2,500
$50,000 + $5,000