From
The New York Times, May 14, 1904
DEATH
OF A. S. HATCH
Once a Leading Financier &emdash;
Floated Great Popular Loan
Alfrederick
Smith Hatch, at one time one of the most prominent
financiers in the United States, died yesterday at his home
in Tarrytown. He was born seventy-five years ago in
Burlington, Vt., where his father, Dr. Horace Hatch, was a
well-known physician.
When he was a young man, he started
a bank in Jersey City and a few years later formed a
partnership with Harvey Fisk. It was while these two men
were together that they achieved fame in the financial
world. During the Civil War when the Government’s
borrowing power had been exhausted, the firm of which Fisk
& Hatch were the partners undertook to float a popular
loan of $500,000,000 in bonds. Although bankers in those
days were not considered in the best of standing if they
advertised, yet the firm sent broadcast over the country a
circular appealing to the patriotism of the people.
The appeal to the country brought
many curious replies. In one case a farmer traveled 800
miles to offer the savings of the family. He brought the
money in a carpetbag and dumped it on the table in the
office of the firm. It was a curious collection of coins and
it took over an hour to sort them out, but when this work
had been completed, it was found that the farmer had brought
$17,000 in his old bag.
The firm of Fisk & Hatch was
closely associated with Jay Cooke for many years. When the
panic of 1873 came, the firm went under, but later resumed,
after having paid all claims in full. In 1883, Mr. Hatch was
elected President of the New York Stock Exchange and he was
renominated and re-elected for a second term. A few years
ago he sold his seat and retired from business.
Mr. Hatch married at an early age,
his wife being Miss Theodosia Ruggles. The fiftieth
anniversary of their wedding was celebrated only a few weeks
ago. The widow, ten children, and many grandchildren
survive.