CHAPTER V.
CALIFORNIA 1855-1857 During the winter of 1854-'55, I received frequent intimations in my letters from the St.Louis house, that the bank of Page, Bacon & Co.

was in trouble, growing out of their relations to the Ohio & Mississippi Railroad, to the contractors for building which they had made large advances, to secure which they had been compelled to take, as it were, an assignment of the contract itself, and finally to assume all the liabilities of the contractors.

Then they had to borrow money in New York, and raise other money from time to time, in the purchase of iron and materials for the road, and to pay the hands.

The firm in St.Louis and that in San Francisco were different, having different partners, and the St.Louis house naturally pressed the San Francisco firm to ship largely of "gold-dust," which gave them a great name; also to keep as large a balance as possible in New York to sustain their credit.

Mr.Page was a very wealthy man, but his wealth consisted mostly of land and property in St.Louis.