Financial History, Stock Exchange, Dun & Bradstreet
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Description
Author:
Title: Confidential 1885 Bradstreet credit report on Philadelphia stock speculators
Place Published:
Publisher:
Date Published: 1885
Description:
Charles F. Clark, Bradstreet Co. printed and typed credit report on Johnson Kite &; Co., Stock Brokers, Philadelphia. 5.5 x 8 ", 1pg.+stamped address leaf on verso (Phila., Apr. 10, 1885).
"Sent Under Seal", report that the brokerage partners were "indulging in speculation on their own account...found on the wrong side of the market...pretty severe squeeze...barely able to meet their obligations...left...without either means or credit on the street." With printed caveat, signed in type by Clark, that the subscriber "will be held directly responsible ...for all costs or damages which may accrue to this Company, if he communicates this information, or shows this letter to the person or persons hereby reported." R.G.Dun took over an existing credit information bureau in 1859, ten years after the Bradstreet Co. was founded in Cincinnati, managed after incorporation in 1876 by Clark. The two competing firms did not merge into Dun &; Bradstreet until 1933. Early credit reports by either company, being confidential (and potentially libelous) are rarely seen.
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