Los-Nr. 8108

1863 (Dec 31): Printed Matter entire from Sturgis & Co. in Boston mailed to Augustine Heard in Foochow, China, endorsed 'Printed Circular' and 'via Southampton' on front, franked by 1861 3 c. dull red in a horizontal pair tied by black cork cancellation. Handstruck '4' (pence) credit marking in red alongside 'London / Paid' cds (Jan 19) in red. A fine and extremely unusual franking and destination. Cert. Holcombe (1987). In 1830, Augustine Heard  (1785-1868) settled in Canton, China, where he became partner in the trading firm of Samuel Russell & Co. by then the leading American Opium dealer in China. Heard set up his own company, Augustine Heard & Co., in 1840, with Joseph Coolidge and John Murray Forbes. The firm became successful and grew rapidly to become the third largest American firm in China. By 1850 had branch offices, beside the headquarter in Canton, in Hong Kong, Shanghai and Foochow with agencies in Amoy and Ningpo. As with many others American firms involved in trade with China at the time, Augustine Heard & Co. encountered financial difficulties in the 1870s and finally went bankrupt in 1875.​ Provenance:  Louis Grunin (1979)                      John Sussex (Christie's 1987)