Lot no. 8098

1852 (Aug 10): Entire letter written from Boston, USA to Augustine Heard in Canton, China endorsed 'pr. Europa' (Cunard Steamer) at lower left struck with straight line PAID and '60 / CENTS' in red. London 'Paid' datestamp of transit on front in red (Aug 23) and reverse with double arc HONG KONG cds (Oct 10) in black. Somewhat tropicalised and folds reinforced but a scarce early letter. 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.