July 20 Tuesday – Frederick J. Hall wrote to Sam that the firm had $248,000 in the U.S. National and Mount Morris banks, and $186,000 in receivables. The plan had been to take some of the cash from the banks and keep it in safe deposit vaults [MTLTP 201n1]. (See July 19 entry.) Hall also wrote

Both the Sun and the Tribune mention the fact that Mr. Webster had a private audience with the Pope, but they do not give any particulars. Would it not be well to let the matter rest until we are ready to bring out the prospectus of the Pope, and then get it noticed in the papers, giving full particulars [MTLTP 201n3]. Note: On July 16, Sam had urged Hall to get Webster’s private audience with the Pope in the newspapers.