Jay Cooke & Company Car Magnet
7.5'' × 4.5'' / Rectangle / 1 pc
$6.99
Sale price
$6.99
Regular price
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Celebrate a remarkable American banking story wherever the road takes you. Founded in 1861, Jay Cooke & Company sold Union bonds on a national scale and used telegraph confirmations to coordinate business from Philadelphia. The bank later became deeply involved in Northern Pacific Railroad financing, and its collapse in 1873 formed part of a wider financial crisis. This car magnet offers collectors a compact reminder of the ambition, technology, and risk woven through the firm’s history.
Jay Cooke founded Jay Cooke & Company in 1861 with William E. C. Moorhead, with ownership divided two-thirds to Cooke and one-third to Moorhead. Headquartered in Philadelphia, the bank also had branches in New York City and Washington, D.C. During the Civil War, it sold hundreds of millions of dollars in Union government bonds, including the Treasury’s 5–20 bond issue, using agents across the country. Its telegraph-based confirmations helped coordinate securities sales from Philadelphia, earning it a reputation as the first “wire” brokerage house. After the war, the firm continued selling U.S. treasuries, then turned to railroad investment. In 1870, the Northern Pacific Railroad appointed it exclusive bond agent. Difficulty selling those bonds left Cooke’s firm heavily exposed: it came to own 75 percent of the railroad and could not meet obligations tied to expected bond proceeds. Withdrawals followed, operations were suspended, and bankruptcy began soon after the 1873 collapse. The failure helped trigger the Panic of 1873 and a wider chain of bank runs and failures. The supplied article describes no merger or successor company.
Jay Cooke & Company Car Magnet
$6.99
Sale price
$6.99
Regular price
Celebrate a remarkable American banking story wherever the road takes you. Founded in 1861, Jay Cooke & Company sold Union bonds on a national scale and used telegraph confirmations to coordinate business from Philadelphia. The bank later became deeply involved in Northern Pacific Railroad financing, and its collapse in 1873 formed part of a wider financial crisis. This car magnet offers collectors a compact reminder of the ambition, technology, and risk woven through the firm’s history.
Jay Cooke founded Jay Cooke & Company in 1861 with William E. C. Moorhead, with ownership divided two-thirds to Cooke and one-third to Moorhead. Headquartered in Philadelphia, the bank also had branches in New York City and Washington, D.C. During the Civil War, it sold hundreds of millions of dollars in Union government bonds, including the Treasury’s 5–20 bond issue, using agents across the country. Its telegraph-based confirmations helped coordinate securities sales from Philadelphia, earning it a reputation as the first “wire” brokerage house. After the war, the firm continued selling U.S. treasuries, then turned to railroad investment. In 1870, the Northern Pacific Railroad appointed it exclusive bond agent. Difficulty selling those bonds left Cooke’s firm heavily exposed: it came to own 75 percent of the railroad and could not meet obligations tied to expected bond proceeds. Withdrawals followed, operations were suspended, and bankruptcy began soon after the 1873 collapse. The failure helped trigger the Panic of 1873 and a wider chain of bank runs and failures. The supplied article describes no merger or successor company.
| 7.5'' × 4.5'' | |
| Width, in | 7.50 |
| Height, in | 4.50 |
Product features
- 100% vinyl face with matte finish for a muted, non-reflective look
- Black magnetic backing grips metal surfaces and removes cleanly
- All-weather durability—resists rain and sun exposure
- Available in three sizes to fit vehicles, toolboxes, or merch displays
- Printed with Digital-Direct Printing (DDP) for sharp, long-lasting color
Care instructions
- Wipe the dust off gently with a soft, dry cloth.
EU representative: HONSON VENTURES LIMITED, gpsr@honsonventures.com, 3, Gnaftis House flat 102, Limassol, Mesa Geitonia, 4003, CY
Product information: Generic brand, 2 year warranty in EU and Northern Ireland as per Directive 1999/44/EC
Care instructions: Wipe the dust off gently with a soft, dry cloth.