Ulysses S. Grant Autograph Letter Signed. Seven pages on two bifolia, 5" x 8"; Galena, Illinois; September 2, 1880. A letter to Herbert E. Hill with business content regarding the viability of the San Pedro Mining Company. Hill had purchased an interest in the Company on the advisement that Grant would be named president. Grant writes to Hill that the statement should not have been made, but that it was not without foundation. He gives his opinion on the prospects of the mine: "It has a vein of copper ore running through the mountain, cropping out in places to the thickness of more than twenty-five feet. This ore is rich enough to reduce the cost of mining and reducing it to a minimum. Fuel is abundant on the property and near it. There is much good timber for use in the mine and for the necessary building. The placer (gold) is of large extent on the surface, and of great depth. There is no doubt about the great quantity of gold, but how profitably it can be worked is yet to be determined." He writes that the San Pedro mine will pay good dividends, but cautions that his opinion is unqualified. He adds, "I should not be afraid to invest my own money in it, but would not wish to be responsible for others investing theirs." Signed, "U. S. Grant." Hill has written a note on the final page of the second bifolium gifting the letter to Reverend Roland D. Grant. Condition: Flattened folds with tiny separations occurring at the margins. Light toning, though the first page is a bit darker. In addition to Hill’s note on the final page, there is an annotation from a previous collector noting that they purchased the letter at Goodspeed’s for $45 on June 25, 1948. This final page has light soiling and staining. Accompanied by a typed transcript of the letter. HID03101062020 © 2020 Heritage Auctions | All Rights Reserved