Lot no. 8030

1867: 2 kr. orange-yellow and 5 kr. rose, used on 1872 Printed Matter entire letter (concerning Marine Insurance), to Augustine Heard in Hong Kong; neatly tied by 'Seilerstätte Wien' datestamp (Oct 19) in black. Reverse with oval 'Triest' transit datestamp (Oct 21) in black. A fine and remarkable entire demonstrating a rare 7 kreuzer rate to Hong Kong. Cert. Goller (2016). 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.