The old merchants of New York City / by Walter Barrett.

OF A\'liE YORKc CITY.

118

looked with the utmost scorn upon the people during the
procession, and upon the guillotine. The crowd made
him wear one of the rosettes. He was in London, and
lodged at the same house with Paoli, the celebrated Corsican. In the course of his travels for business purposes,
Mr. Ludlow saw every crowned head in Europe. IHe
established the largest business that was done at that time
in the city of New York.
He was the agent of the Holland Land Company, and
all the money and business in this country was done by
him.
At one period as I have stated, his partner was Gulian Ludlow, his nephew, and son of Colonel Ludlow.
He lived at 13 Whitehall, corner of Stone street.
Daniel Ludlow & Co., were largely in the East India
trade. They had a branch there. They imported
largely of East India drugs, gums, etc.
Mr. Ludlow lost nearly half a million by underwriting in the first quasi French war. At the time there
were but two insurance companies in the city. Consequently it became a matter of necessity that private underwriting should be undertaken. The largest underwriters in the city were Daniel Ludlow, John B. Church,
and John Delafield. They all lost immensely, and the
President, Washington, in one of his messages stated
that their rights should be protected; yet these losses
have never been made good.
He also lost an immernse sum by the Berlin and Milan
Decrees of Bonaparte. His ships were trading to every
port in Europe, to the East and to the West Indies.
In 1.806 lie lost several thousand dollars by the celebrated General Miranda, and the transactions of Samuel
G. Ogden.
Mr. Ludlow was a genuine old school merchant. He