Life of Hon. Phineas T. Barnum [28]
and forfeit all that might have been paid to that date. "In fact, Mr. Olmsted." Barnum continued, earnestly, "you may bind me in any way, and as tightly as you please--only give me a chance to dig out, or scratch out, and I will do so or forfeit all the labor and trouble I may have incurred."
In reply to this letter, which Barnum took to his house himself, Mr. Olmsted named an hour when he could call on him. Barnum was there at the exact moment, and Olmsted was pleased with his punctuality. He inquired closely as to Barnum's habits and antecedents, and the latter frankly narrated his experiences as a caterer for the public, mentioning his amusement ventures in Vauxhall Garden, the circus, and in the exhibitions he had managed at the South and West.
"Who are your references?" Olmsted inquired.
"Any man in my line," Barnum replied, "from Edmund Simpson, manager of the Park Theatre, or William Niblo, to Messrs. Welch, June, Titus, Turner, Angevine, or other circus or menagerie proprietors; also Moses Y. Beach, of the New York Sun."
"Can you get any of them to call on me?"
Barnum told him that he could, and the next day Mr. Niblo rode down and had an interview with Mr. Olmsted, while Mr. Beach and several other gentlemen also called. The following morning Barnum waited upon him for his decision.
"I don't like your references, Mr. Barnum," said Mr. Olmsted, abruptly, as soon as he entered the room.
Barnum was confused, and said, "he regretted to hear it."
"They all speak too well of you," Olmsted added, laughing; "in fact, they all talk as if they were partners of yours, and intended to share the profits."
"Nothing could have pleased me better," says Barnum. "He then asked me what security I could offer in case he concluded to make the purchase for me, and it was finally agreed that, if he should do so, he should retain the property till it was entirely paid for, and should also appoint a ticket-taker and accountant (at my expense), who should render him a weekly statement. I was further to take an apartment hitherto used as a billiard-room in his adjoining building, allowing therefor $500 a year, making a total rental of $3,000 per annum, on a lease of ten years. He then told me to see the administrator and heirs of the estate, to get their best terms, and to meet him on his return to town a week from that time.
"I at once saw Mr. John Heath, the administrator, and his price was $15,000. I offered $10,000, payable in seven annual installments, with good security. After several interviews, it was finally agreed that I should have it for $12,000, payable as above --possession to be given on the 15th of November. Mr. Olmsted assented to this, and a morning was appointed to draw and sign the writings. Mr. Heath appeared, but said he must decline proceeding any further in my case, as he had sold the collection to the directors of Peale's Museum (an incorporated institution) for $15,000, and had received $1,000 in advance.
"I was shocked, and appealed to Mr. Heath's honor. He said that he had signed no writing with me; was in no way legally bound, and that it was his duty to do the best he could for the heirs. Mr. Olmsted was sorry but could not help me; the new tenants would not require him to incur any risk, and my matter was at an end.
"Of course I immediately informed myself as to the character of Peale's Museum Company. It proved to be a band of speculators who had bought Peale's collection for a few thousand dollars, expecting to unite the American Museum with it, issue and sell stock to the amount of $50,000, pocket $30,000 profits, and permit the stockholders to look out for themselves.
"I went immediately to several of the editors, including Major M. M. Noah, M. Y. Beach, my good friends West, Herrick, and Ropes, of the Atlas, and others, and stated my grievances. 'Now,' said I, 'if you will grant me the use of your columns, I'll blow that speculation sky-high.' They all consented, and I wrote a large number of squibs, cautioning the public against buying the Museum stock, ridiculing
In reply to this letter, which Barnum took to his house himself, Mr. Olmsted named an hour when he could call on him. Barnum was there at the exact moment, and Olmsted was pleased with his punctuality. He inquired closely as to Barnum's habits and antecedents, and the latter frankly narrated his experiences as a caterer for the public, mentioning his amusement ventures in Vauxhall Garden, the circus, and in the exhibitions he had managed at the South and West.
"Who are your references?" Olmsted inquired.
"Any man in my line," Barnum replied, "from Edmund Simpson, manager of the Park Theatre, or William Niblo, to Messrs. Welch, June, Titus, Turner, Angevine, or other circus or menagerie proprietors; also Moses Y. Beach, of the New York Sun."
"Can you get any of them to call on me?"
Barnum told him that he could, and the next day Mr. Niblo rode down and had an interview with Mr. Olmsted, while Mr. Beach and several other gentlemen also called. The following morning Barnum waited upon him for his decision.
"I don't like your references, Mr. Barnum," said Mr. Olmsted, abruptly, as soon as he entered the room.
Barnum was confused, and said, "he regretted to hear it."
"They all speak too well of you," Olmsted added, laughing; "in fact, they all talk as if they were partners of yours, and intended to share the profits."
"Nothing could have pleased me better," says Barnum. "He then asked me what security I could offer in case he concluded to make the purchase for me, and it was finally agreed that, if he should do so, he should retain the property till it was entirely paid for, and should also appoint a ticket-taker and accountant (at my expense), who should render him a weekly statement. I was further to take an apartment hitherto used as a billiard-room in his adjoining building, allowing therefor $500 a year, making a total rental of $3,000 per annum, on a lease of ten years. He then told me to see the administrator and heirs of the estate, to get their best terms, and to meet him on his return to town a week from that time.
"I at once saw Mr. John Heath, the administrator, and his price was $15,000. I offered $10,000, payable in seven annual installments, with good security. After several interviews, it was finally agreed that I should have it for $12,000, payable as above --possession to be given on the 15th of November. Mr. Olmsted assented to this, and a morning was appointed to draw and sign the writings. Mr. Heath appeared, but said he must decline proceeding any further in my case, as he had sold the collection to the directors of Peale's Museum (an incorporated institution) for $15,000, and had received $1,000 in advance.
"I was shocked, and appealed to Mr. Heath's honor. He said that he had signed no writing with me; was in no way legally bound, and that it was his duty to do the best he could for the heirs. Mr. Olmsted was sorry but could not help me; the new tenants would not require him to incur any risk, and my matter was at an end.
"Of course I immediately informed myself as to the character of Peale's Museum Company. It proved to be a band of speculators who had bought Peale's collection for a few thousand dollars, expecting to unite the American Museum with it, issue and sell stock to the amount of $50,000, pocket $30,000 profits, and permit the stockholders to look out for themselves.
"I went immediately to several of the editors, including Major M. M. Noah, M. Y. Beach, my good friends West, Herrick, and Ropes, of the Atlas, and others, and stated my grievances. 'Now,' said I, 'if you will grant me the use of your columns, I'll blow that speculation sky-high.' They all consented, and I wrote a large number of squibs, cautioning the public against buying the Museum stock, ridiculing