In August, 1859, Mr. Phillips, the publisher, died. Lowell characterized him as a man of great energy and pluck; but during the months previous to his death Mr. Phillips had by no means been in sound health, and had fretted much over complications in his affairs. He seems to have had reason, for a few weeks after the death of Mr. Phillips, the firm of Phillips & Sampson suspended payment, and went into the hands of an assignee, Mr. Harvey Jewell. “What is to come, or why they have done it,” Lowell wrote to Mr. Norton, “I cannot conjecture. I trust arrangements will be made to put the _Atlantic_ in good hands. _That_ at least is a paying thing. If it shall end in my losing the editorship, it would cause me little regret, for it would leave me more time to myself.” The assignee brought out the October number of the magazine, pending the settlement of affairs, and there was a lively competition among publishers to secure the publication. The Harpers proposed to buy it, to suppress their rival, it was said; there were offers from Philadelphia, and some of the younger men connected with the firm of Phillips & Sampson made an effort to establish a new firm which should buy the whole business of Phillips & Sampson, including the magazine. Mr. William Lee, who had left a large sum with the firm when he withdrew from it, was at the time travelling in Europe, and by a series of mischances did not even learn of the situation till it was too late for him to have a hand in any reorganization. There was even a plan mooted by which Lowell and his friends should buy the magazine, but Lowell’s own judgment was against this. “It ought,” he said, “to be in the hands of a practical publisher for we should be in danger of running aground.” In the end, Ticknor & Fields bought the magazine. “As friend to friend,” Lowell wrote to Mr. Norton, I may say that I think it just the best arrangement possible, though I did not like to say so beforehand too plainly. I did not wish in any way to stand in ----’s light, but it is much better as it is. Whether T. will want _me_ or not, is another question. I suppose that he will think that Fields will make a good editor, beside saving the salary, and F. may think so too. In certain respects he would, as the dining editor for example, to look after authors when they came to Boston and the like. I shall be quite satisfied, anyhow,--though the salary is a convenience, for I have done nothing to advance my own private interest in the matter.”