Autograph journal of the banker and Liberal politician Sir Francis Henry Evans of Tubbendens, Orpington, Kent, containing accounts of a run on his bank and fraud by his partners, as well as domestic news. With enclosures including newspaper cuttings.

Author: 
Sir Francis Henry Evans (1840-1907) of Tubbendens, Orpington, Kent, banker and company director, Liberal Member of Parliament for Southampton, 1896-1900; Maidstone, 1901-6 [Jay Cooke, McCulloch & Co.]
Publication details: 
The first entry dated '71. Queens Gate London | July 31. 1873.' Last entry dated 25 November 1896. With memoranda from 1897, 1901 and 1903.
£600.00
SKU: 13141

92pp., 4to. In good condition, in worn blue leather binding, with marbled endpapers. A strip cut out of the first leaf by Evans, with note by him: 'Signatures of Marie & self to other book'. Rather than short entries for each day, the journal contains longer occasional entries detailing significant events. The diary is a mixture of domestic news and detailed accounts of Evans's business affairs, with frequent descriptions of his financial position, on one occasion 'for the information of my darling wife & her Trustees'). . It begins with the family based in Sevenoaks, and with Evans as a director of the bankers Jay Cooke, McCulloch & Co. The tone is exemplified by the entry on 19 September 1873: 'This morning I was down rather late for breakfast & had to hurry to get down to Bank before ten - I asked Marie [his wife, daughter of Hon. Samuel Stevens of Albany, New York] to read the telegrams, she read out "Messrs Jay Cooke have suspended payment" I asked "what more" thinking she was jesting - she replied that it was true. I immediately ran over to my fathers to reassure him then to Mrs. McCulloch & then to the Bank which I reached a few moments before ten - I had Pierce at once add up the total of the deposit accounts & signed a cheque for the amt. in order to have bank notes to pay all our depositors as I knew we should have a run upon us. We had the depositors run cleared out that account. - we decided we were solvent & determined to keep open - especially as Mr McCulloch is still on the Atlantic. Morgan whom Puleston called in as well as Merton & Rose - advised suspension which I was dead against - I was much annoyed at Puleston calling in others & felt it to be an undignified proceeding & unworthy of us - but he felt important & was headstrong & I did not care to put a stop to such nonsense lest it should injuriously affect other more important matters. We expect McCulloch to reach New York Monday.' The following entry, for 17 November 1893, begins: 'it is two months since J[ay] C[ooke] & Co failed We are still in the throes of despair & don't know whether or how it is possible to go through. but Marie had a darling little daughter at 12.30 a.m. & whatever may come it is a help to future struggles against future bother on the road to success.' On Christmas Day 1874 he announces the birth of his son: 'I suppose we shall call him Murland de Grasse though I do with much hesitation as the unfortunate position of my business makes the future so uncertain & looks so like further trouble & hard work & general roughing that a plain name might seem more in keeping with the hard fare the little one may expect'. The entries which follow descibe his wife's poor health. In November of 1875 the couple visit America: 'we visited Philadelphia, Washington, Rochester (to see Marie's relations), Williamsport to see Oliver & his partners (the Bank I found in common with all the saw mill owners in a shaky state Whether they will pull through or not depends wholly on the price of lumber entrancing) - we took Olly with us to Rochester thence to Buffalo where we left him in the kind hands of Mrs. McCane (a daughter of Fargo of Wells Fargo & Co) - we only stayed two hours in Buffalo, whence we departed for Chicago at 12.40 Monday the 6th. Dec.' The journey continues in much the same vein. On 31 December 1876 he reviews an 'eventful' year. 'Melville sailed for America on the 8th. Jany & spent six months in the States visiting California. Just before his return J. H. Puleston drew out several thousand pounds & crossed the Channel to Brussels - Before he came back facts came to Melville's & our knowledge which decided us to get rid of J. H. P. which we accordingly did & he was gazetted out of the firm on the 1st. August last.' Shortly afterwards the firm manages to reach a settlement with the U.S. Government, 'thus clearing the debt which after the failure of J C & Co reached abt £340,000'. In 1879 he learns that 'Puleston had taken £10,000 of the Emma money [...] The perfect amazement & astonishment of Melville & myself may be imagined on our receiving a letter from Mr McCulloch stating that he had shared with Puleston - We discussed the matter & the result was that [...] he was accordingly gazetted out of the firm as from July 1. 1879 - In this letter Mr McC declared that he recd. the money from P. & intended to hold it in trust for his partners - (as he recd. the money in May or about May 1872 - he had kept it full 7 years in trust)'. Evans subseqently discovers that some of the firm's money 'had been paid away in the Autumn of 1873 to certain Stock brokers & as far as I can tell it was the firms money used to pay Puleston's gambling debts for speculations on the Stock Exchange'. He describes his father's death in 1882, and shortly afterwards reports: 'The Receiver in the suit of Evans v. Puleston delivered me all the securities he held - so terminating a struggle in which I have been engaged agst great odds for 6 years - I did not get everything I claimed, but substantially I won on every point.' The entry for 7 January 1885, accompanied by a newspaper cutting, begins: 'I retired from the firm of Melville Evans & Co - Just 14 years after I had started the firm of Jay Cooke McCulloch & Co - The History of these 14 years is an instructive one, if rather bitter for me. It has taken just so many years out of my business life.' A trip to America in 1885 is briefly described, as is one to the Iberian peninsula in 1887. In 1888, during a voyage to North America, he is elected a Member of Parliament: 'Outside the "Needles" a Pilot came on board - I asked him if he had news of Southampton - he said yes "it's all over" - I said What all over? - He said yes. "The Polling closed at 8 p.m. last night" - What result said I? don't know said he - then who were the candidates - again "don't know"'. In 1889 he describes how he has 'materially improved my financial position', and a little further on he describes the state of his accounts on 3 January 1890. The next entry, 4 November 1896, gives an account of his mother's death. (Loosely inserted is a telegram from his brother breaking the news.) The volume ends with descriptions of Evans's financial accounts on 18 October 1897, 31 December 1901, 31 December 1902 and 31 December 1903. Loosely inserted are four newspaper cuttings: including one from the New York Times, 23 July 1878, carrying a long article on 'Jay Cooke's Creditors', and another of an article titled 'Notes of the Week. | Sir Francis Evans', giving some biographical information. Also inserted are: an Autograph Letter Signed to Evans from Frederick Billings, Steward, on Manor of Orpington letterhead, 18 June 1886, regarding 'direct encroachments'; an Autograph Letter Signed to Evans from his sister Jessie Tafel, from Oriel Lodge, Wimbledon; 28 November [1901], giving much information regarding family history; a valuation by Evans of his father's estate, dated 13 November 1902; manuscript accounts, docketted 'first furniture | 1834'. Note: his Wikipedia entry has a description of a notebook of Evans' which includes a passage word for word the same as a passage in this notebook. This raises questions which the value of the item will leave as such. As other items in my inventory testify this notebook derives from a batch of family papers which include letters by Sir Francis, and by his son, the manuscripts of his wife, and many other family items (many uncatalogued)