Page 154 - Merchants and Mandarins China Trade Era

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with plans for young Forbes to replace him. Cushing's total

profits were close to a million dollars. Forbes himself had

profits totalling almost two-hundred-thousand dollars. He and
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Cushing would have equal shares in the proposed establishment.

Cushing would remain a partner in Boston but planned to limit

himself to investments. Just as he was resuming his business,

word arrived from China of Forbes.' fatal shipwreck. At the

time he was in Europe overseeing the preparation of cargoes

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bound for Canton. Cushing hurried on to Canton himself to

settle financial affairs. At Canton he carried out Forbes'
instructions to merge with Russell & Co., but he insisted that

the house take in another partner who had his approval. This

partner was to receive the consignments of all Perkins & Co. 's

business. Cushing had in mind Forbes' younger brother Robert

Bennet for the position. Forbes, a seacaptain, preferred to

remain in his present job of managing a storeship at an

Outer Anchorage. Cushing then settled on Augustine Heard as the

designated partner. As a further part of the agreement, the

youngest Forbes brother John Murray, sixteen years old, was to

be a purser for Russell & Co. with the intent of a future part­

nership. In return Russell & Co. received all the business of
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Perkins & Co. and Bryant, Sturgis & Co. In March 1831 Cushing,

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Letters, J.P. Cl1shmg to T.T. Forbes, Nov. 23, 1828;
J.P. Cushing to T.H. Perkins, Jan. 19, 1829; T.T. Forbes to J.P.
Cushing, Jul. 10, 1829, Bryant & Sturgis MSS.
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cushing was in Europe buying a French and a Dutch ship
to trade from Canton to France and Holland for his own profit but
under their own national colors. Letter, J.P. Cushing to Perkins
& Co., Apr. 15, 1830. Extract of Letter, J.P. Cushing to J. Bates,
Jul. 10, 1831, Bryant & Sturgis MSS.
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Letter, J.P. Cushing to S. Cabot, Nov. 18, 1830, Samuel
Cabot MSS. Cushing left accounts with Russell & Co. for Perkins &
Co. worth $61,810.49 and for himself worth $60,458.23. See Trial
Balances, Bryant & Sturgis MSS.