June 2 Friday – Sam finished his May 30 to Frederick J. Hall. His $500 monthly draft had not arrived, and it could not now reach them before they left for Germany, but he would draw on Livy’s letter of credit if needed. He acknowledged receipt of $950.

We are skimming along like paupers & a day can embarrass us. …

I am terribly tired of business. I am by nature and disposition unfitted for it & I want to get out of it. I am standing on the Mount Morris volcano with help from the machine a long ways off — & doubtless a long way further off than the Connecticut Co imagine [MTP].

Note: Sam could not have chosen a worse time to sell out, what with the financial exchanges in turmoil and the myriad of bank and company failures with rising unemployment — the Panic of 1893, the worst depression in the history of the country to date. Undoubtedly he’d read the newspapers.

Sam then outlined what he felt his assets were, and a plan to get out of business by selling out to Harper, or Appleton, or Putnam, taking but a little cash and notes at six per cent payable monthly. He added a P.S. that the “new firm could retain my books & reduce them to a 10 percent royalty” [MTP]. See June 16 for Hall’s response.

Frederick J. Hall wrote to Sam that the “Traction Syndicate” was interested in purchasing the stock of the Connecticut Co. And enclosed a short optimistic note from Stewart Woodford (see June 9), that “as soon as the sale of the Connecticut Co. stock is completed and that element of doubt is removed, I should think that Mr Clemens will find the desired market for such of his royalties as he is willing to sell.” Hall continued:

When the Traction Company and the Connecticut Company actually join hands and the stock is transferred…I can place [with Gen. Woodford] the entire amounts of royalties at the price mentioned by you [MTLTP 347n2; MTP]. Note: See June 9 from Hall.