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Lot 558: ROBERT FULTON - Current Bid: $1,800.00

Est: $3,500 USD - $4,500 USDPassed
Alexander Historical Auctions LLCStamford, CT, USJune 03, 2010

Item Overview

Description

ROBERT FULTON
(1765 - 1815) American engineer and inventor of the first practical submarine and torpedo, and established the first commercially successful steamboat, the Clermont. Fine content A.L.S. "Robt Fulton" 1p. 4to., New York, Nov. 18, 1813, to Dr. William Wilson concerning a settlement involving the estate of his recently deceased patron, Robert R. Livingston. Fulton writes, in full: "The estate of the Chancellor [Livingston] is to be charged with the Iron credit having been given by me to him in Settling our accounts. You will please to show the annexed to Mr. Edward P. [Livingston]". Wilson penned on the overleaf: "Mr. Livingston will look to the enclosed letters and inform me if anything is necessary for me to do. W.W.". Robert R. Livingston, the first chancellor of New York State and negotiator of the Louisiana Purchase, was enthralled with the concept of invention. Claiming that to be his "hobby horse," he held several patents for a means of diminishing the friction of spindles on millstones and for manufacturing paper from river weed. However, Livingston was talented neither in the theory nor practice of mechanics, and his inventions generally did not work. Thus, he collaborated often with others who had the scientific experience to implement his visions. One such idea was steam navigation and one such collaborator was Robert Fulton, and the two became deeply immersed in steamboat experimentation. They determined, when they returned to America, to make another effort with a larger boat to sail on the Hudson River. Essentially, Livingston would supply the money and Fulton would do the work. Livingston secured the exclusive privilege of "navigating all boats that might be propelled by steam, on all waters within the territory or jurisdiction of the State, for the term of twenty years," so they started out with very valuable monopoly. Their agreement was formalized into a partnership, one that would last the remainder of Livingston's life. In July, 1807 the first successful steamboat ran from New York to Albany, meeting the requirements of the New York State grant and perfecting their monopoly. Robert Livingston died in February, 1813. Even though he and Fulton possessed a monopoly , they were continually building new steamboats and had accrued nearly $167,000 in partnership debts. With his partner's death, Fulton was faced with the challenge of negotiating Livingston's assets with his heirs, and relations with Livingston's family members were abrasive. A friend of the family, Dr. William Wilson was the executor of the Chancellor's estate. The Livingstons owned an iron foundry, and Fulton once stipulated that "iron work in the best manner" was to be used to build their steamboats. It is apparent that Livingston supplied iron from his foundry for the construction rather than buying it on the open market, and that Livingston was given credit for the iron's value from Fulton in order to assess their respective partnership distributions. After Livingston's death, an issue arose as to the final allocation of funds for the iron, and Fulton bargained for both the money and additional leverage with his heirs. Here Fulton supplies Wilson with the necessary papers to indicate that the iron credit was to be charged back to the estate. Light toning along expected folds, tiny loss at left margin clear of writing, else very good to fine condition.

Artist or Maker

Payment & Shipping

Payment

Accepted forms of payment: American Express, Discover, MasterCard, Money Order / Cashiers Check, Paypal, Personal Check, Visa, Wire Transfer

Shipping

Shipment is sent USPS priority, USPS International Express (for most overseas) or UPS Ground at the auctioneer's option, signature required, unless other arrangements are made. Handling, shipping and insurance charges will be added to the invoice in one entry. Buyer's should be aware that large, framed, fragile or odd shaped items can incur substantial shipping and packing charges. Customer's who supply their own courier account number will still be charged a handling fee.

Auction Details

Spring Historical Auction

by
Alexander Historical Auctions LLC
June 03, 2010, 11:00 AM EST

860 Canal St. 2nd Floor, Stamford, CT, 06902, US

Terms

Buyer's Premium

22.5%

Bidding Increments

From:To:Increment:
$0$99$10
$100$499$20
$500$999$50
$1,000$1,999$100
$2,000$4,999$250
$5,000$9,999$500
$10,000+$1,000

Terms and Conditions

This auction is conducted under the laws of the State of Connecticut.

There is an 22.5% Buyer's Premium charged on the final hammer price of each lot (includes Live Bidding Fee).

The Auctioneer reserves the right to reject any bid for any reason.

The Auctioneer reserves the right to withdraw any lot for any reason.

In the event of duplicate high bids, the earliest bid received will be the winner. (Please note absentee bids left with artfact.com do not reach the auctioneer until the lot opens during the live sale).

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Payment is expected immediately upon, (but not before) receipt of invoice. Payments may be made via mail, phone, fax, in person. We also accept PayPal payments, payable to sales@alexautographs.com. All accounts are payable to Alexander Autographs, Inc. Payment must be made in U.S. funds. Wire transfer details are available upon request. Please note that lots purchased are subject to sales taxes where applicable unless a resale number is filled with us prior to the auction. Invoices not paid within thirty days of the date of invoice will incur a 1.5% per month late payment fee.
Shipment is made via United Parcel Service unless otherwise instructed. Handling, shipping and insurance charges will be added to the invoice.

All autograph material in this sale is guaranteed genuine for the life of the original purchaser (unless otherwise stated or if contrary to other provisions of these terms). Any autograph item sold which is determined to be not authentic by two independent authenticators acceptable to both parties to the sale may be returned by the original buyer at any time for an immediate refund of the purchase price (only). Non-autograph items are guaranteed genuine for a period of twenty-one (21) days of receipt if determined to be not authentic by two independent authenticators acceptable to both parties to the sale.

Items may also be returned if the catalog description differs significantly from the item's actual state; such returns must be made within three (3) days of purchaser's receipt of the lot(s) with prior approval. All returned lots must be in the same condition as shipped. All items are in very good condition unless stated otherwise.

Any lot containing five or more items is not subject to return for any reason.

We do not examine the condition of items contained within frames beyond what is readily visible. Such defects may include, but may not be limited to: mounting, silking, marginal damage, closed tears, "mat burn", etc. That being the case, we are not responsible for such hidden damage. Bidders are further advised that we are selling the autograph, not the frame, and therefore the condition of the frame shall not be considered reason for return. Shipping costs for framed items may vary greatly depending on the size and/or weight of the frame, and at times these charges may be quite substantial. Customers may request us to remove an autograph from its frame to reduce shipping charges. We will accommodate customers in that respect for an additional charge of $10.00 per framed item, but such service will be undertaken at our sole discretion. Alexander Autographs will be responsible for any damage caused to the VISIBLE area of the item as it appears in the frame. We will in no way be responsible for any pre-existing hidden damage or defect, nor will we be responsible for any damage caused by us to any previously hidden portion of the autograph, its mount, or any material matted with the autograph during removal from the frame.

The placing of a bid shall constitute acceptance of the preceding terms and conditions of sale as well as the Bidding Procedure guidelines posted in this catalog.

Taxes

Sales tax will be charged for CT residents.

Contract Information

The placing of a bid shall constitute acceptance of the preceding terms and conditions of sale as well as the Bidding Procedure guidelines posted in this catalog.

Payment Information

Payment is expected immediately upon, (but not before) receipt of invoice. Payments may be made via mail, phone, fax, in person. All accounts are payable to Alexander Autographs, Inc. Payment must be made in U.S. funds. Wire transfer details are available upon request. Please note that lots purchased are subject to sales taxes where applicable unless a resale number is filled with us prior to the auction. Invoices not paid within thirty days of the date of invoice will incur a 1.5% per month late payment fee. We accept all major credit cards, money orders, personal checks, bank wires, and PayPal (sales@alexautographs.com).

Shipping Information

Shipment is sent USPS priority, USPS International Express (for most overseas) or UPS Ground at the auctioneer's option, signature required, unless other arrangements are made. Handling, shipping and insurance charges will be added to the invoice in one entry. Buyer's should be aware that large, framed, fragile or odd shaped items can incur substantial shipping and packing charges. Customer's who supply their own courier account number will still be charged a handling fee.

Buyer's Premium

There is an 22.5% Buyer's Premium charged on the final hammer price of each lot (includes Live Bidding Fee).

Condition Statement

All autograph material in this sale is guaranteed genuine for the life of the original purchaser (unless otherwise stated or if contrary to other provisions of these terms). Any autograph item sold which is determined to be not authentic by two independent authenticators acceptable to both parties to the sale may be returned by the original buyer at any time for an immediate refund of the purchase price (only). Non-autograph items are guaranteed genuine for a period of twenty-one (21) days of receipt if determined to be not authentic by two independent authenticators acceptable to both parties to the sale. The condition of autograph material is generally described per standards suggested by the Manuscript Society.