1886. Strictly private. For Subscribers Only. American Mercantile Union Confidential Reference Book, for San Francisco, Oakland and Vicinity, Compiled in the Interest of the Retail Trade

Tall 8vo, leather spine and gilt lettered cloth, brad bound, 197 pp. (about half are blank for additions). Agreement for book is pasted down to back of front cover. Spine very rubbed, ends worn and chipped, corners showing, scattered penciled marks and drawings, normal aging,; about very good. This is a very unusual and rare finance item. Before Standard & Poor's and Moody's used letter ratings to indicate credit quality for businesses, the American Mercantile Union was doing credit ratings of their own. The key to the ratings is laid on rear pastedown, (truncated) and includes ten designations, most of which are negative. The ratings are given for San Francisco area businesses. The book was basically rented for one year, and had to be returned after that time. (Inventory #: 100032)