The Magazine in America

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A few weeks after the death of Phillips in 1859, the i6o THE MAGAZINE IN AMERICA firm suspended payment. Its enormous stock of books and sheets and plates was sold at auction in the autumn, and Trowbridge says that he was shifted, scrip and scrip- page, to a New York house. Fortunately the Atlantic fell into good hands, he goes on, those of Ticknor and Fields; it is interesting to note that it was a project of the elder and, one would have supposed, more conserva- tive member, while it was oppo
...sed by the junior, whose literary tastes and associations with authors would have seemed likely to render him the more earnest of the two in its favour. The price, ten thousand dollars, looked formidably large for those days, and Mr. Fields deemed it too hazardous an undertaking. If he had been on the ground he might have thought differently; but he was abroad. At all events, the senior's courage and sound judgment were abundantly vindicated. So far, Trow- bridge ; and Scudder, too, says that after many plans for the future of the magazine and much competition of the publishers, Ticknor and Fields bought it.

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