Baldwin and Company.

History of Firm

Simeon Baldwin, 1801-1872, of New Haven, Conn., went to Philadelphia in 1818 to learn the business of a merchant. He worked for his uncle, Daniel Barnes, until 1821, when he came to New York and started out on his own. In March of 1822 he formed a partnership with Samuel A. Otis under the firm name of Otis & Baldwin. This arrangement was terminated in June of 1823, Baldwin continuing alone until October, when he formed with Francis J. Spooner the firm of Baldwin & Spooner. This partnership lasted until February of 1827, when Spooner was bought out. In the following month Baldwin joined with Horace D. Forbes to form the firm of Baldwin & Forbes. Baldwin bought out Forbes in October of 1830 and continued the business alone under the firm name until the end of October, 1831. At that time Baldwin admitted his cousin, Sherman Day, and changed the firm name to Baldwin & Co., which continued until it failed in March of 1841. The following October Baldwin became president of the Jackson Marine Insurance Co. and later of the Merchants' Exchange Co. of New York.

Nature of the Business

The business of the mercantile firm was very wide, but consisted primarily of acting as commission agents. Transactions were done with firms in the chief ports of the United States, Europe, and South America. In 1825 Baldwin & Spooner inaugurated the Regular Line between Philadelphia and New York, a semi-weekly freight service by schooners and sloops of approximately one hundred tons. Baldwin & Spooner were the New York agents, while Bailey & Bridges managed the Philadelphia end. The line continued until 1835. Another large share of the business derived from acting as agents for various vessels. In this capacity the firm arranged for the collection of freight, made disbursements, and gave advice on the profitableness of proposed voyages. The firm also owned shares in various vessels for which they provided the cargo despatched on trading voyages.

Character of the Papers

The collection is divided mainly into four parts consisting of account books, correspondence, papers directly relating to individual ships of which the firm was owner or agent, and miscellaneous papers.