The New York Guaranty & Indemnity Company

Bank History, Guaranty Trust Company of New York

1864 Established as New York Guaranty and Indemnity Company
12/01/1895 Name Change To Guaranty Trust Company of New York
01/26/1910 Acquire By Merger Morton Trust Company
10/16/1912 Acquire By Merger Standard Trust Company
05/04/1929 Acquire By Merger Bank of Commerce in New York
04/24/1959 Acquire By Merger J.P. Morgan & Co., Incorporated
04/24/1959 Name Change To Morgan Guaranty Trust Company of New York
06/26/1959 Acquire By Merger Morgan & CIE, Incorporated
12/27/1968 Acquire By Merger Morgan Guaranty Safe Deposit Company
06/01/1996 Acquire By Merger J.P. Morgan Delaware
New York Bank History G / Scripophily.com

N.Y. Guaranty and Indemnity Co., No. 14 Broad-st, 1865

Directors: Jonathan Thorne of Thorne, Watson & Co.; Joel Wolfe of No. 305 Fifth-av; James B. Johnston of J. Boorman, Johnston & Co.; David Dows of David Dows & Co.; A.A. Low of A.A. Low & Brothers; U.A. Murdock, President Continental National Bank; W. Butler Duncan of Duncan, Sherman & Co.; George D. Cragin of Cragin & Co.; Herman Marcuse of Marcuse & Baltzer; Richard Lathers, Pres. of G.W. Marine Ins. Co.; L. Von Hoffman of L. Von Hoffman & Co.; Martin Bates of M. Bates, Jr. & Co.; C.F. Dambmann of C.F. Dambmann & Co.; Noah L. Wilson, of Wilson, Gibson & Co.; Samuel D. Babcock, President pro. tem., of Babcock Bros. & Co.; James P. Wallace, Vice-President, of Wallace & Wickes; Samuel G. Ogden, Treasurer, late Auditor of Customs. (Classifed Ad 12. New York Times, Nov. 28, 1865 p. 6.)

Samuel D. Babcock, President pro. tem., of Babcock Bros. & Co.; also a Trustee of the Central Trust

Samuel Denison Babcock (1822-1902) began his career as a bank messenger in New York City at the age of 14. He was President of the International Bell Telephone Co.; Vice President of the Providence and Stonington Steamship Co.; a director of the New York Central and Hudson River Railroad, the New York and Harlem Railroad, the National Bank of Commerce, the American Exchange National Bank, the Continental Insurance Company, the Guaranty Trust, the United States Mortgage and Trust Company; and a trustee of the Central and Fifth Avenue Trust Companies and the Mutual Life Insurance Company, and a member of the Advisory Committee of United States Lloyds. "He was very regular in his habits and was at the Lenox Club nearly every day, where he met George G. Horne, John Sloane, William D. Sloane, Charles Lanier, Joseph W. Borden, and Morris K. Jesup." (Samuel D. Babcock Dead. New York Times, Sep. 15, 1902 p. 1; Samuel D. Babcock. New York Times, Sep. 18, 1902; Sep. 17, 1902 p. 9). He was a director of the Continental Insurance Company in 1861, along with fellow NYGIC directors John Caswell and A.A. Low, also Hiram Barney of the Butler law firm and George W. Lane of the Central Trust, and Robert H. McCurdy, the father of Richard A. McCurdy of the Guaranty Trust. (Ad 7. The Independent, Jan. 31, 1861;130(635):7.)

Samuel D. Babcock was a trustee and a director of the Queen Insurance Company of Liverpool & London, along with Martin Bates, Josiah M. Fiske, J. Boorman Johnston, and Henry F. Spaulding (Classified Ad 3. New York Times, Jan. 22, 1880 p. 6.) Samuel D. Babcock was on the board of managers of St. Luke's Hospital, along with Central Trustees George M. Miller and his son, Percy R. Pyne and his son, Gustav H. Schwab, and J.P. Morgan Jr.; also Cornelius Vanderbilt and Chauncey M. Depew, S&B 1856. (St. Luke's Hospital Managers. New York Times, Oct. 20, 1894.) Babcock was a director of International Bell Telephone Co. Ltd., along with Louis A. Von Hoffman. (Corporation Elections. New York Times, June 3, 1897.) Babcock was a longtime trustee of the Mutual Life Insurance Company of New York, from at least 1853, when he was part of a stockholders' group that installed Frederick S. Winston as President, until 1902. (Commercial and Money Affairs. New York Daily Times, Jun. 27, 1853.) Directors of the U.S. Mortgage & Trust Co. included Samuel D. Babcock, his son-in-law, William P. Dixon; William Babcock, a relative from San Francisco; and numerous other names from the Guaranty Trust and Mutual Life Insurance Company - Charles R. Henderson, Richard A. McCurdy, Edwin Packard, and Charles D. Dickey Jr. (Display Ad 17. New York Times, May 31, 1894 p. 10.)

He was a descendant of James Babcock (1612-1679), who settled in Rhode Island and was baptized a Seventh Day Adventist. There were unspecified "riotous actings" against Babcock and his associates by townspeople, and complaints of their dealings from the Pequot Indians. His grandfather, Henry Babcock, graduated from Yale in 1752, and moved to Stonington, Conn., where Samuel and a multitude of other Babcocks were born. (Ancestors of James Babcock. Tania Babcock Poirier website.)

7th Generation, Benjamin Franklin Babcock (1790-1829) / Tania Babcock Poirier

Samuel D. Babcock's half-aunt, Elizabeth Thompson Babcock, was the wife of Nathaniel Brown Palmer, the master of the clipper ships Houqua, Samuel Russell, Oriental, and Paul Jones in the 1840s China trade (opium), in which fellow director Abiel Abbott Low and the Low Brothers were jointly involved; also shipbuilder William H. Webb of the Central Trust. (In: The Era of the Clipper Ships, pp. 7-9. By Donald Gunn Ross III; Palmer-Loper Family Papers. Library of Congress, 2003.)

Page 7, Nathaniel Brown Palmer / Era of the Clipper Ships.com
Page 8, China Tea Trade / Era of the Clipper Ships.com
Palmer-Loper Family Papers / Library of Congress (pdf, 31pp)

Samuel D. Babcock was the brother of Benjamin Franklin Babcock (1814-1869), of B.F. Babcock & Co., a branch reference company of the Great Western Insurance Company during the Civil War. Samuel Babcock and several other Great Western directors, including Richard Lathers, its President, W. Butler Duncan, J.B. Johnston, Henry F. Spaulding and J.P. Morgan, later formed the NYGIC and the Central Trust. James M. Brown of Brown Brothers & Co. and Brown, Shipley & Co.; and William M. Evarts were also directors of the Great Western. (Classified Ad 11. Financial. New York Times, Jan. 22, 1859 p. 7; Financial. New York Times, Jun. 7, 1864 p. 6.) He was a brother of Charles H.P. Babcock, Secretary of the Central Trust. They married sisters, Elizabeth Crary and Cornelia Franklin. (Franklin Family Researchers United, 1997 April, vol. 22 pp. 17-18; Richard L. Franklin. New York Times, Sep. 8, 1880 p. 5.)

Benjamin Franklin Babcock Jr. / J Crossley
FFRU April 1997 / Franklin Family Researchers United (pdf)

J. Pierpont Morgan, W. Butler Duncan, Samuel D. Babcock, and J. Boorman Johnston were on the Advisory Committee of Robinson & Cox, attorneys for United States Lloyds, whose losses were payable in London at the firm of J.S. Morgan & Co. [which had been formed in 1864 from Morgan, Peabody Co.] (Financial. New York Times, Dec. 24, 1866 p. 6.) The address of Babcock Brothers & Co. in the 1869 New York City Directory was at 37 William St. This was also the address of the publication office of United States Lloyds {aka "Record of American Shipping" of the American Shipmasters Association (or American Bureau of Shipping) in the 1880s through 1899.

37 William St. was also the business address of Samuel D. Babcock, banker; Courtlandt G. Babcock, clerk; Courtlandt P. Dixon, contractor, whose son married Samuel D. Babcock's daughter; and Edward Morgan, banker, of the firm of M. Morgan's Sons, whose partners Henry Morgan and Edward Morgan were directors of the New York, Providence and Boston Railroad Company and the Providence and Stonington Steamship Company, along with Nathan F. Dixon; C.G. Babcock; NYGIC director J. Boorman Johnston; George M. Miller of the Central Trust; Samuel D. Babcock himself, and his half-uncle, Capt. David S. Babcock. (General Railway Notes. New York Times, Dec. 9, 1880.) Courtlandt Guyet Babcock was a first cousin of Samuel D. Babcock; another first cousin was anti-smoker Dr. Robert Hall Babcock, who married a cousin of Daniel Coit Gilman. (Descendants of Joseph Miner - Seventh Generation. The Thomas Minor Society.)

Descendants of Joseph Miner- Seventh Generation / The Thomas Minor Society

Capt. David Sherman Babcock (1822-1885), who was president of the Stonington and Providence Steamship Company, and Vice-President and General Manager of the New-York, Providence and Boston Railroad, was accidentally killed by one of his own trains. (Warning Given Too Late. New York Times, Aug. 26, 1885.) He had six sons, David S. Jr., Irving, William, Joseph, Philip, and Raymond (Funeral of Capt. Babcock. New York Times, Aug. 29, 1885), at least two of whom went into banking.

Philip S. Babcock was Trust Officer of the Colonial Trust Company, whose directors included Henry O. Havemeyer, Roswell P. and Anson R. Flower, Gardiner G. Hubbard, and William T. Wardwell (Display Ad 18. New York Times, Oct. 14, 1897 p. 10, and Jan. 4, 1904 p. 13), and also John E. Borne, whose widow left $300,000 to Columbia University, with his brother Joseph as executor (Wills For Probate. New York Times, Jun. 9, 1926.) In 1905, Philip S. Babcock was a vice-president, and Joseph N. Babcock was Trust Officer, of the Colonial Trust Co. (Display Ad 9. New York Times, Mar. 27, 1905 p. 10). Joseph N. Babcock became a vice president of the Equitable Trust Company circa 1917, and later a vice president of the Chase National Bank, and a director of E.R. Squibb & Sons. (Joseph N. Babcock, Retired Banker, 76. New York Times, Jun. 9, 1942.) He was chairman of the New York Community Trust, headquartered at 120 Broadway, which was anonymously endowed with an unspecified amount of money (Community Trust Installs Directors. New York Times, Jul. 8, 1923; Unnamed Testator Leaves Philanthropic Trust Fund. New York Times, Oct. 2, 1923.) The two Babcock brothers attended Yale, and their classmates included George G. Haven Jr. and Oliver G. Jennings (S&B 1887). (Harrying the Freshmen. New York Times, May 24, 1885.) David S. Babcock's one surviving daughter, Ellen Watkins, married William Reynolds Brown, son of William Smith Brown, who had been on the Board of Trustees of the Mutual Life Insurance Company with Samuel D. Babcock between 1854 and 1872.

7th Generation, David Sherman Babcock / Tania Babcock Poirier
Descendants of Manassah Minor 7th Generation / Thomas Minor Society

Another of Samuel.Denison Babcock's half-uncles was Giles Babcock, whose wife, Ann, was the daughter of Samuel F. Denison, a director of the Providence & Stonington Railroad in 1833, and the New York, Providence and Boston Railroad. Charles H. Phelps was another director. (Died [Ann E. Babcock]. New York Times, Jun. 22, 1890 p. 5; When the Railroad Came to Westerly, by Herbert A. Babcock. Rhode Island Historical Society, 1922; History of Providence County, Rhode Island. Richard M. Bayles, ed. W.W. Preston & Co., 1891 /Rootsweb.) Giles Babcock spawned a hundred-year dynasty of U.S. Army Generals, including his son, Brig. Gen. John Breckenridge Babcock (1847-1909), born in New Orleans, who fought against the South in the Civil War, and after it against the Kiowas, Southern Cheyennes, Sioux, Apaches and Utes (Gen. John B. Babcock Dead. New York Times, Apr. 28, 1909); then his grandson, Brig. Gen. Conrad Stanton Babcock (1876-1950) (Deaths. New York Times, Jul. 12, 1950), whose wife, Marion L. Eells, was the sister of Mrs. Henry Sloane Coffin, S&B 1897 (Mrs. Conrad S. Babcock. New York Times, Aug. 22, 1962, pp. 33 & 34); and great-grandsons, Maj. Gen. C.[onrad] Stanton Babcock, who was one of John Foster Dulles's principal aides and an honorary pallbearer at his funeral (The Last Salute: Civil and Military Funerals 1921-1969, by B.C. Mossman and M.W. Stark. Department of the Army, 1991); and Col. Charles Parmalee Babcock..

When the Railroad Came to Westerly / New River Notes
History of Providence County, Rhode Island / Rootsweb.com
Descendants of Joseph Miner 8th Generation / Thomas Miner Society
Asst. Prof. Nicholas Evan Sarantakes, Texas A&M University
Ch. 16, The Last Salute / U.S. Army

Samuel D. Babcock's daughter, Evelina, married William Palmer Dixon, Skull & Bones 1868, in 1871. He was the son of Courtlandt Palmer Dixon (1817-1883), who was the son of U.S. Sen. Nathan Fellows Dixon (1774-1842) of Rhode Island, and "a well-known contractor for the furnishing of material used in the erection of U.S. Government buildings." (Obituary. New York Times, Jun. 6, 1883, p. 4.) He was a trustee of the Mutual Life Insurance Company (and participated in the faux investigation in 1904), and a director of the American Exchange-Pacific National Bank, the Lawyers Title Insurance Company, the Fidelity and Casualty Company, the Mortgage Bond Company and the Lawyers' Westchester Title and Insurance Company. Evelina Babcock died in 1908. (William P. Dixon Dies; Lawyer and Club Man. New York Times, Jun. 26, 1926; Obituary Record of Yale Graduates 1925-1926, pp 39-40.) He was a partner of George Macculloch Miller in Miller, Peckham & Dixon. William Allen Butler and David B. Ogden were fellow directors of Lawyers Title Insurance Co. (Real Estate Buyers' Boon. New York Times, Apr. 15, 1894.) William Palmer Dixon's son, Courtlandt Palmer Dixon (1884-1943), Scroll & Key 1908, was a broker with Boissevain & Co. and a partner of Jacquelin & DeCoppet 1915-41. He died of tuberculosis in Broadmoor, Col. near the Webb-Waring Institute. (Bulletin of Yale University, Obituary Record of Graduates of Yale University Deceased during the Year 1942-1943, pp 99-100; Courtlandt P. Dixon. New York Times, Mar. 18, 1943.)

Obituary Record 1925-1926 / Yale University Library (pdf, 350 pp)
Obituary Record 1942-1943 / Yale University Library (pdf, 312 pp)

William Palmer Dixon's sister, Priscilla, married his Yale classmate, Thomas Chalmers Sloane, Skull & Bones 1868, the brother of Henry Thompson Sloane, S&B 1866, and Mrs. Edmund Coffin, S&B 1866. (A Day's Weddings. New York Times, Apr. 17, 1896; Sacrifice No Sacrifice. Boston Daily Globe, Apr. 17, 1896; Mrs. Priscilla Barclay. New York Times, May 18, 1924 p. S7.) His brother, Courtlandt P. Dixon Jr., married Maria Louisa Polhemus. (Society In Two Cities. New York Times, Feb. 24, 1881.) Their son, Theodore Polhemus Dixon, was Skull & Bones 1907. Ushers at his wedding included his Bones classmates G. Brett Glaenzer, Richard E. Danielson, and William McCormick Blair, the founder of William Blair & Co. of Chicago. Walbridge Taft, the nephew of William Howard Taft, S&B 1878, was his best man. (Theodore P. Dixon's Ushers. New York Times, Mar. 8, 1914.) He was an usher of William J. Sturgis at his marriage to Thomas B. Yuille's daughter Ellen. (Miss Ellen Yuille Weds W.J. Sturgis. New York Times, Nov. 18, 1915.) Theodore P. Dixon's wife's sister was Mrs. Howard B. Dean, an ancestor of presidential candidate Howard Dean. (Mrs. Henry F. Cook. New York Times, Dec. 27, 1936.) He was the vice president of William E. Pollock & Co., Inc., 20 Pine St., NYC, "a securities concern." (Theodore P. Dixon. New York Times, Jul. 30, 1959.)

Another daughter, Emily Babcock, married Fordyce Barker, the son of Dr. Fordyce Barker (New York Times, May 9, 1878). Fordyce Barker, M.D., L.L.D., was president of the New York Academy of Medicine. Their daughter, Elsie Fordyce Barker, married Murray Witherbee Dodge, Scroll & Key 1899, a vice president of Chase Securities and executive vice president of Chase Harris Forbes Corporation. His father was Arthur Murray Dodge, Yale 1874. (Obituary Record of Graduates of Yale University Deceased during the Year 1937-1938, pp. 96-97.) Their daughter, Lillian Lee Fordyce Barker, married Franklin Butler Lord, Jr., of the law firm of Lord, Day & Lord, the longtime outside counsel to The New York Times. (Weddings of a Day. New York Times, Oct. 31, 1905; Mrs. Franklin Lord, Wife of Lawyer, 75. New York Times, Sep. 9, 1958.) Another daughter, Maria, died in 1941 (Deaths. New York Times, Sep. 3, 1941 p. 23; Wills for Probate. New York Times, Sep. 10, 1941.)

Obituary Record of Graduates of Yale, 1937-1938 / Yale University Library (pdf, 305 pp)

Another daughter, Fannie Morris Babcock, married Henry Alexander Murray (Wedding in Calvary Church. New York Times, May 9, 1889.). "Mrs. Murray was born in this city, the daughter of Samuel Denison Babcock and Elizabeth Crary Franklin Babcock. Her father was the founder and first president of the Guaranty Trust Company of New York. He was a descendant of Colonel Henry Babcock of Connecticut, who served on General George Washington's staff during the Revolutionary War. Mrs. Murray's husband, who died in 1934, was a descendant of John Murray, who as fourth Earl of Dunmore was the last Royal Governor of Virginia." A son, Dr. Henry A. Murray, was director of the Harvard Psychological Clinic. Another son, Cecil D. Murray, was a lieutenant in the US Naval Aviation service in World War I. A daughter, Virginia Murray, was the wife of Rep. Robert Low Bacon of New York. His father, Robert Bacon, was a partner of J.P. Morgan & Co. (Mrs. H.A. Murray, 81, Daughter of Banker. New York Times, June 3, 1940.) Elizabeth Crary Franklin's great-grandfather, Walter Franklin, built the New York City mansion chosen for George Washington when he became the first U.S. President in 1789. In the dining room of DACOR Bacon House hangs a portrait of Samuel D. Babcock, maternal grandfather of Virginia Murray Bacon, one of an "elite fraternity of government officials known as 'The Family.'" ("The Family" Drinking Cups. DACOR Bacon House.)

"The Family" Drinking Cups / DACOR Bacon House
"To Your Health" / DACOR Bacon House

Samuel D. Babcock was a partner of Hollister & Babcock, brokers, and left an estate of nearly $4,000,000 to his children. His big stockholdings included 500 shares of the Central Trust Company ($950,000); 500 shares of the Guaranty Trust Company ($362,500); 1,418 shares of the International Bell Telephone Company; 850 shares of the National Bank of Commerce ($288,150); also stock in the Atlantic Trust Company, the Chicago, Rock Island and Pacific Railroad, the Morton Trust Company, the New York, New Haven and Hartford Railroad, the Fidelity and Casualty Company, and the Continental Insurance Company. In addition, outsiders owed him $432, 570. He left his interest in Hollister & Babcock to his son, Henry D. Babcock, a trustee of the Central Trust. (S.D. Babcock's Estate. New York Times, May 3, 1903 p. 20; Will of S.D. Babcock. New York Times, Sep. 30, 1902 p. 5.)

James P. Wallace, Vice-President, of Wallace & Wickes; also a Trustee of the Central Trust

James P. Wallace, Esq., was an inspector of election for the Hanover Bank (Bank Notices. New York Daily Times, Nov. 4, 1853 p. 7), and later a director of the bank (Financial. New York Times, Jan. 18, 1868 p. 6; Classified Ad 2. New York Times, Jan. 16, 1872 p. 6.) He was a trustee of the Corn Exchange Association, along with Josiah M. Fiske. (Commercial Affairs. New York Times, Mar. 4, 1858; City Intelligence. New York Times, Mar. 3, 1860.) He was the founding president of the Brooklyn Mercantile Library Association in 1857 (Brooklyn Intelligence. New York Times, Jan. 14, 1859.) Wallace and his partner, William W. Wickes, were vice-presidents of the Young Men's Christian Association. (Local News In Brief. New York Times, Jun. 23, 1869.) Wallace was President of the New-York Warehousing Comapany, Wickes was Treasurer, and George D. Cragin was Vice President. They evidently failed to sell it at auction in 1871. Circa 1894, it was absorbed by the Brooklyn Wharf and Warehouse Company, and formally dissolved two years later. (Classifed Ad 14. New York Times, Oct. 14, 1871 p. 6; Blaze in a Cotton Warehouse. New York Times, Aug. 11, 1894; Business Troubles. New York Times, Dec. 9, 1896.)

William W. Wickes (1819-1900), Wallace's partner since 1844, "was the lineal descendant of Thomas Wickes, one of the foremost promoters of the Massachusetts Colony of 1635, and the original patentee in 1666 of a large tract of land on Long Island, of which the site of the town of Huntington is the centre." His ancestors were in the Continental Army and the American Army in the War of 1812. Wallace & Wickes loaded the steamer Star of the West, which was sent to relieve the seige of Fort Sumter in 1861. (Death List Of A Day. New York Times, Feb. 20, 1900.)

Samuel G. Ogden, Treasurer, late Auditor of Customs

Samuel Gouverneur Ogden (1804-1877): His uncle, Nicholas G. Ogden, was connected with John Jacob Astor in the fur and silk trade, and was a resident partner in Canton, China, in the 1820s. Nicholas Ogden's heirs, including Samuel G. Ogden, brought suit against William B. Astor, Albert Gallatin, Washington Irving, John Jacob Astor, the executors of John Jacob Astor's will, for Nicholas's share of the profits, which was settled in 1850 for $200,000. Samuel Ogden's father, also named Samuel G. Ogden, was the first New Yorker in the wine trade with France. His mother, Eliza Lewis, was the sister of U.A. Murdock's father-in-law, and a granddaughter of Francis Lewis, a signer of the Declaration of Independence. Ogden was educated in France from 1819 to 1825, and after returning, was an accountant in the shipping house of Charles H. Russell & Co. for several years in the 1830s. In 1841, he was appointed a clerk in the Custom-house by the then-Collector, Edward Curtis. He became an Auditor and remained in that office until shortly before his death. Moses Grinnell was one of his pallbearers. (Obituary. Samuel G. Ogden. New York Times, Sep. 12, 1877.)

Samuel G. Ogden Sr. was involved in the Miranda expedition to overthrow the government of Venezuela, which was then Spanish territory. "All the leading men of New York city at the time, and among them was Rufus King, were perfectly familiar with the expedition and its object." (Samuel G. Ogden. By Walter Barrett, Clerk. In: The Old Merchants of New York City. Carleton, Publisher, 1863.) The expedition set sail in Ogden's ship, the Leander, in 1805. After the Marquis Yrujo, backed by the French Ambassador, made a formal complaint to Government, "The authorities in Washington thought it proper to order the arrest of Mr. Ogden, and of Colonel William Smith, son-in-law of John Adams and Surveyor of the Port of New York, under the Act of 1794." Smith, Ogden, Miranda, and Thomas Lewis, captain of the Leander, were indicted by a Grand Jury. (General Miranda's Expedition. The Atlantic Monthly, May 1860.)

Samuel G. Ogden / Brooklyn Genealogy
General Miranda's Expedition / Fullbooks.com

Joel Wolfe of No. 305 Fifth-av.

"He was a native of Richmond, Va., and was the eldest of a family of eight children. His father, Benjamin Wolfe, was an officer in the Revolutionary Army. Joel was engaged in commercial pursuits in this city from 1820 to 1846, when he retired from business with a competency." (City and Suburban News. New York Times, Nov. 27, 1880.) Benjamin Wolfe was a merchant in Richmond after the Revolution, who had seven sons and a daughter. (The Determination of Jewish Identity Below the Mason-Dixon Line: Crossing the Boundary From Gentile to Jew in the Nineteenth Century American South. By Dana Evan Kaplan. Journal of Jewish Studies, 2001 Spring). Joel Wolfe and his brother, Udolpho, of Udolpho Wolfe & Co., were importers of schnapps from Holland. Joel's first wife, Rachel, died in 1855. (Died. New-York Daily Times, Jan. 8, 1855.) His second wife was Mrs. William H. van Schoonhoven of Troy, N.Y. (Married. New York Times, Jun. 11, 1858.) Margaret V.S. Wolfe was a member of the Madison Avenue Reformed Church. (Death List Of A Day. New York Times, Mar. 1, 1897 p. 7.) Udolpho Wolfe, Esq. died in 1869 in his 59th year. His brother-in-law was David H. Burke. (New York Herald, Sep. 17, 1869.) Udolpho Wolfe's oldest daughter, Adele B. Wolfe, married N. Devereux Clapp of Chicago. (Marriages and Deaths. New York Herald, May 10, 1870.) John David Wolfe, a founder of the Chemical Bank and father-in-law of David Wolfe Bishop of the Central Trust, may have been a brother.

Jonathan Thorne of Thorne, Watson & Co.; also a Trustee of the Central Trust

Jonathan Thorne (1801-1884) of Thorne, Watson & Co., began in the dry goods business in New York in 1828. He married the daughter of a prominent leather merchant, and his brother-in-law, Barney Corse, took him in as a partner. Thorne was one of the original stockholders of the Western Union Telegraph Company, and at one time a large holder of stock of the Pacific Mail and of the Delaware, Lackawanna and Western Railroad. His sons, Jonathan Jr. and William, continued in the leather trade. (Obituary. New York Times, Oct. 10, 1884.) He was a director of the Manhattan Fire Insurance Company along with John Caswell (Insurance. New York Daily Times, Feb. 21, 1855 p. 7), and the North American Fire Insurance Company, along with Joshua J. Henry, Wyllis Blackstone, Moses H. Grinnell, and William S. Wetmore. (Insurance. New York Daily Times, Jun. 1, 1855 p. 6.) His son, Samuel Thorne, and grandson, Edwin Thorne, were trustees of the Central Trust. He was the great-great-great-grandfather of John Forbes Kerry's first wife, Julia Stimson Thorne, and her twin brother, Kerry's campaign advisor, David Hoadley Thorne, Skull & Bones 1966. (The Ancestors of Julia Stimson Thorne b. 1945. By William Addams Reitwiesner.) The family was well-represented on Jekyl Island, an ultra-exclusive resort off the coast of Georgia limited to eighty-three members, with Samuel Thorne, Jonathan Thorne, William Thorne, and Edwin Thorne's estate; and neighbors such as J. Pierpont Morgan, William Rockefeller, and John A. Stewart. (A Day On Jekyl Island, by WD. New York Tiimes, Apr. 9, 1892, p. 10.)

The Ancestors of Julia Stimson Thorne / William Addams Reitwiesner Genealogical Services

John Watson, the co-founder of Watson, Thorne & Co. in 1846, was a former partner and brother-in-law of Col. Zadoe Pratt, in his tanyards at Prattsville, New York. Watson was the last partner to quit the business in 1881, with a fortune estimated at $10,000,000 (Obituary. New York Times, Jun. 14, 1891.)

James B. Johnston of J. Boorman, Johnston & Co.

J.B. Johnston was a director of the Great Western (Marine) Insurance Company in 1859. He and several other of its directors (Babcock, Duncan, and Lathers) later formed the NYGIC. (Financial. New York Times, Jan. 22, 1859 p. 7.) J. Pierpont Morgan, W. Butler Duncan, Samuel D. Babcock, and J. Boorman Johnston were on the Advisory Committee of Robinson & Cox, attorneys for United States Lloyds. Losses payable in London at the firm of J.S. Morgan & Co. [which had been formed in 1864 from Morgan, Peabody Co.] (Financial. New York Times, Dec. 24, 1866, p. 6.) Johnston and NYGIC director A.A. Low were directors of the Union Trust Company, along with A.H. Barney of the Northern Pacific Railroad and Edward B. Wesley, financier of The New York Times (The Panic In Wall Street. New York Times, Sep. 21, 1873.) Johnston was also a director of the National Bank of the Republic (Financial. New York Times, Jan. 20, 1869; Classified Ad 5. New York Times, Jan. 24, 1879 p.6.), and the Queen Insurance Company of Liverpool & London, along with Samuel D. Babcock, Martin Bates, and Josiah M. Fiske, and Henry F. Spaulding of the Central Trust. (Classified Ad 3. New York Times, Jan. 22, 1880 p. 6.)

Mrs. J. Boorman Johnston (Mary Hoppin Humphreys) was one of the earliest members of Colonial Dames of America, and was a vice president of its Paris chapter, where she died in 1917. (Obit. 3. Died. New York Times, Jan. 14, 1917 p. 19.) They were married in Philadelphia. (NY Finger Lakes.)

NY Finger Lakes / Rootsweb

James Boorman (1783-1866), was born in Kent, England and came to the U.S. in 1795. He was an apprectice and then a partner of Divie Bethune. After dissolving the partnership in 1813, he formed Boorman, Johnston & Co., iron merchants, with John Johnston. "For many years the firm controlled the entire trade between Dundee and [New York City]. They introduced the Swedish iron into this market, in which article they did an immense business." It was dissolved in 1855. (Obituary. James Boorman, Esq. New York Times, Jan. 26, 1866.) The firm reportedly dealt in Virginia tobacco as well (James Boorman. Appleton's Encyclopedia.) He was an inspector of elections of the Hudson River Railroad Company, of which J. Boorman Johnston was a director. Other directors included John David Wolfe, the uncle of David Wolfe Bishop of the Central Trust. (New York City. New York Daily Times, Jun. 15, 1852.)

James Boorman / Virtualology

David Dows of David Dows & Co.; also a Trustee of the Central Trust

David Dows (1814-1890) was one of the organizers of the Produce Exchange and the Corn Exchange Bank. He was vice president of the Chicago and Rock Island Railroad, a director of the Chicago & Northwestern, the Chicago, Minneapolis, and Omaha, the Union Pacific, and the Delaware and Hudson Roads. Other interests included "several" insurance and trust companies. (David Dows. New York Times, Mar. 31, 1890.) He was also a director of the New York Life Insurance Company (Financial. New York Daily Times, Feb. 13, 1857 p. 7; Display Ad 67. New York Times, May 4, 1885 p. 14.) Dows and A.A. Low were trustees of the Union Trust Company (Financial. New York Times, Aug. 1, 1866.) He was a Trustee of the New-York Orthopedic Dispensary and Hospital (Choosing Its Officers. New York Times, Nov. 24, 1889.) Executors of his will were Alexander E. Orr, who joined the firm of David Dows & Co. in 1861 and became a director of the Guaranty Trust; Benjamin Brewster, David Dows Jr., and his sons-in-law, Richard M. Hoe and George B. Cooksey. (David Dows's Will. New York Times, Apr. 11, 1890.) David Dows Jr. succeeded him as a director of the Keokuk and Des Moines Railway Company. (Canada Southern. New York Times, June 5, 1890.) One of David Dows's daughters was Mrs. Christian A. Herter.

Alexander E. Orr was elected to succeed Dows as a director of the Chicago, Rock Island and Pacific Railroad. The board also included Sidney Dillon, Roswell P. Flower, Benjamin Brewster, H.R. Bishop, H.M. Flagler, and David Dows Jr., of New York; Hugh Riddle, H.H. Porter, Marshall Field, and John De Koven of Chicago; R.R. Cable of Rock Island, Ill., and George G. Wright of Des Moines. (News About Railroads. New York Times, Jun. 5, 1890 p. 5.)

Marvin Hughitt, President of the Chicago and Northwestern Railroad and a funder of William Eugene Blackstone, was elected a director of the Union Pacific Railroad to succeed David Dows: "This puts a strong representative of the Vanderbilts in the Union Pacific Directory, and, taken in connection with the recent reported buying of Union Pacific stock by the Vanderbilts, it is construed as an indication that the Vanderbilt Western railroad interests are to be strengthened and protexted in every important quarter." (News About Railroads. New York Times, May 1, 1890.)

James A. Roosevelt succeeded Dows as a director of the Delaware and Hudson Canal Company. (Affairs of Railroads. New York Times, May 14, 1890.) James A. Roosevelt's son, William Emlen Roosevelt, was a trustee of the Central Trust, and his grandson, George Emlen Roosevelt, was a director of the Guaranty Trust.

Charles Stebbins, a lawyer and son-in-law of David Dows' brother James, was the private secretary of Gov. Samuel J. Tilden. The Stebbinses were "closely allied to the Fairchild family, several partnerships having existed between them." (Death List of a Day. New York Times, May 6, 1898.)

A.A. Low of A.A. Low & Brothers; also a Trustee of the Central Trust

Abiel Abbot Low (1812-1893), was born in Salem, Mass. His uncle, Capt. William Henry Low, was admitted as a partner of Russell & Co. in 1828, as a replacement chosen by founding partner Philip Ammidon. (Samuel Wadsworth Russell House, US National Parks Service.) William H. Low retired in 1833 and died at the Cape of Good Hope on his way home; A.A. Low became a partner of Russell & Company from 1837 to 1839. Based on an interview with his son, Seth Low. "All the foreign houses at Canton engaged in the opium trade. The Chinese officials winked at the traffic and squeezed a large revenue from it. Whether it was reprehensible or not, no merchant at Canton could afford to refrain from handling the drug," which came mainly from India. (New England Fortunes Made In China Through the House of Russell & Co. The Boston Globe, Jun. 28, 1908.) "[S]ome time before attaining his majority he left school and became a clerk for Joseph Howard & Co. of Salem, a mercantile house engaged in the South American trade." When his father, Seth Low, came to Brooklyn in 1829, Abiel accompanied him, and assisted him in his business as a drug merchant. "An uncle, William Henry Low, was a partner in the firm of Russell & Co., then the largest American house in China. He offered his nephew a position there. Young Low accepted eagerly, and in 1833 he sailed for Canton. He was promoted rapidly, and four years later became a member of the firm." In 1840, he returned to New York City and established the firm of A.A. Low & Brothers. In 1846, his brother Josiah O. Low became a partner; and his brother-in-law, Edward H.R. Lyman, in 1882. He was a member of the New York City Chamber of Commerce since 1846. His first wife, Ellen Almira, was the daughter of Josiah Dow, who died in 1850. In 1850, he married his brother William Henry Low's widow, Anna Davison Bedell, and adopted their son, William Gilman Low. Abiel Abbott Low's son, Seth Low, was the President of Columbia College. (Abiel Abbot Low Is Dead. New York Times, Jan. 8, 1893.) In 1852, A.A. Low was a director of the Atlantic Mutual Insurance Co., along with George Peabody's old partner, Elisha Riggs; while Josiah O. Low was a director of the Astor Mutual Insurance Co. (Insurance. New York Daily Times, Feb. 13, 1852.) He was a director of the Continental Insurance Company in 1861, along with fellow NYGIC directors Samuel D. Babcock and John Caswell, also Hiram Barney of the Butler law firm and George W. Lane of the Central Trust, and Robert H. McCurdy, the father of Richard A. McCurdy of the Guaranty Trust. (Ad 7. The Independent, Jan. 31, 1861;130(635):7.) Low was a member of the New York Chamber of Commerce since 1846, its vice president from 1856 to 1863, and president from 1863 to 1866. John Austin Stevens, Samuel D. Babcock, and J. Pierpont Morgan were the committee for his memorial. (In Memory of A.A. Low. New York Times, Jan. 10, 1893.) Low and David Dows were trustees of the Union Trust Company. (Financial. New York Times, Aug. 1, 1866.)

His stepson, William Gilman Low, was an attorney for A.A. Low & Brothers. He prided himself on being the oldest depositor in the Guaranty Trust Company, as well as on never smoking, drinking, or driving a car. He was a director of the Fidelity and Casualty Company of New York, the Continental Insurance Company, the Franklin Trust Company of Brooklyn, the Old Dominion Land Company of Virginia, and the Home Life Insurance Company of New York. He was a senior trustee of the Brooklyn Hospital, and a founder of the Hospital Saturday and Sunday Association. (W.G. Low, 92, Dies; Brooklyn Lawyer. New York Times, Jun. 29, 1936.) He contributed $10,000 to the International Institute of China, founded by Rev. Gilbert Reid. (The International Institute of China. By Rev. Gilbert Reid. New York Observer and Chronicle, Oct. 13, 1910;89(15):461.)

His son, William Gilman Low Jr., graduated from Yale in 1897 and then Columbia Law School. He was in the firm of Parsons, Shepard & Ogden, then Dwight & Low. He was a vice president of the Trust Company of America and of William Morris Imbrie & Co., and a member of the executive committee and a director of the Home Life Insurance Company, a director of the Stonega Coal and Coke Company, the Bank of America and the Taylor Wharton Iron and Steel Company, and president, member of the executive committee, and a director of the Pan American Debenture Corporation. In World War I, he was a member of the executive committee of the War Work Council of the Y.M.C.A. "During the conflict he was liaison official between the Army General Staff Military Intelligence Division and the War Work Council and was associated with the council's relationship with Naval Intelligence." He was a captain in the Army Reserve. (William G. Low, 70, A Retired Lawyer. New York Times, Oct. 10, 1945; Obituary Record of Yale University Deceased During the Year 1945-1946, p. 44.)

Obituary Record of Graduates of Yale, 1945-1946 / Yale University Library (pdf, 268 pp)

William G. Low's other son, Benjamin Robbins Curtis Low, Elihu 1902, attended Harvard Law School and was admitted to the bar in 1904. He was a partner of his classmates Ethelbert Ide Low and Charles D. Miller from 1923 to 1928, and general counsel of the Home Life Insurance Company from 1928 to 1941. Their mother was Lois Robbins Curtis, daughter of Justice Benjamin Robbins Curtis. (Obituary Record of Graduates of Yale University Deceased during the Year 1940-1941, p. 103.) One of his mother's sisters married his cousin Seth Low 2d, and another was the wife of Dr. Frederick Prime.

Obituary Record of Graduates of Yale, 1940-1941 / Yale University Library (pdf, 290 pp)

Abiel Abbott Low's son, Abbott Augustus Low (~1843-1912) was with A.A. Low Brothers. Four children survived him: J.C. Low of Albany, A.A. Low Jr. of Manhattan, Seth Low 2d of Brooklyn, and Mrs. William Raymond. (Abbott Augustus Low Dies. New York Times, Sep. 26, 1912.) His wife, Marian W. Low, was the daughter of George Cabot Ward, a founder of S.G. and G.C. Ward, and Ward, Campbell & Co., the U.S. agents for Baring Brothers & Co., also a charter member of the Union League Club, and a longtime Governor of the New York Hospital. Mrs. Low's brother, Samuel Gray Ward Jr., was with Kidder, Peabody & Co., which became Baring's agent. (An Old Firm Retiring. New York Times, Dec. 1, 1885; Death of George Cabot Ward. New York Times, May 5, 1887.) Her uncle, Samuel Gray Ward Sr., was the auditor of Porto Rico.

Thomas Wren Ward Papers - Massachusetts Historical Society / Yahoo Cache

The marriage of their daughter Marian Ward Low to William Raymond was heralded as "the most important wedding of the Brooklyn social season." William Raymond was a younger brother of Mrs. Daniel Chauncey [Caroline Raymond] and a brother-in-law of Mrs. Samuel Sloan Chauncey, "for the past few years, one of the most striking figures in the American colony in London." (A Fashionable Wedding in an Unfashionable Church. Town & Country Life, Nov. 17, 1906.) Mr. and Mrs. Grant Watson of the British Embassy traveled from Washington to attend. (Social and Personal. Washington Post, Nov. 27, 1906.) But the event was announced in only six lines. (Married. New York Times, Nov. 28, 1906.) William Raymond was a broker, the son of James and Henrietta K. Raymond. (Obituary Notes. New York Times, Nov. 12, 1909.) William Raymond Jr. was a partner of the stock brokerage firm of Chauncey & Company, 120 Broadway. He graduated from Princeton in 1930. (William Raymond Jr. New York Times, Aug. 5, 1976.)

The Daniel Chaunceys' daughter Grace married Samuel D. Babcock's grandson, Woodward Babcock. (Married. New York Times, Apr. 22, 1903.) Henry D. Babcock was the best man at William Raymond Jr.'s wedding. (Miss Molly Shonk Becomes Bride. New York Times, Sep. 8, 1933.)

Abbott Augustus Low Jr. married Elizabeth Stewart Claflin. Her father, John Claflin, was head of the United Dry Goods Company. He was a member of Wolf's Head, 1911. (Miss Claflin to Wed A.A. Low, Jr. New York Times, Nov. 8, 1911; Miss E.S. Claflin's Wedding A Surprise. New York Times, Aug. 23, 1912.) They were divorced ten years later. (Mrs. A.A. Low Gets Divorce. New York Times, Feb. 12, 1922.)

George Cabot Ward Low married Dorothea Douglas, the daughter of ex-Sen. Curtis N. Douglas. Spencer Turner, S&B 1906, was an usher. (George C.W. Low Weds Miss Douglas. New York Times, Nov. 12, 1911.) They were divorced in 1926. Her sister married P.A.B. Widener. (Mrs. G.C.W. Low Divorced. New York Times, Nov. 16, 1926.)

Seth Low married Anna Curtis of Boston, a daughter of U.S. Supreme Court Judge Benjamin Robbins Curtis, who dissented in the Dred Scott case. (Wife of Mayor-Elect Seth Low. Boston Daily Globe, Nov. 13, 1901.) One of his wife's sisters married his cousin William Gilman Low, and another was the wife of Dr. Frederick Prime.

Abiel Abbott Low's brother, Edward Allen Low (1817-1898) was born in Salem, Mass. and came to Brooklyn with his parents in 1829. He went to Mississippi when he was 18, and in the early 1840s he was in China with Russell & Co. Since about 1880, he was Secretary and Treasurer of the Low-Moore Iron Company of Virginia. He organized the Unitarian Church of the Saviors, and was its treasurer for 40 years. (Death List of a Day. New York Times, Nov. 21, 1898.)

U.A. Murdock, President of Continental National Bank

Uriel Atwood Murdock (1810-1901) was born in Carver, Mass., near Cape Cod, where he entered his father's business. "From the iron manufacturing business he drifted into the line of importing the metal, particularly in the form of iron rails. It was during this time that Mr. Murdoch made a considerable fortune, rails selling at a profit of 200 per cent., and George Peabody, the noted banker and philanthropist, and Sir Curtis Lamson, became his partners in the importing venture." He was president of the Continental Bank from 1859-69, when he retired. (Uriel Atwood Murdock. New York Times, Jul. 17, 1901 p. 5.) His father-in-law, Gabriel Ludlow Lewis, was a brother of Samuel G. Ogden's wife, and they were grandchildren of Francis Lewis, a signer of the Declaration of Independence. (Died. New York Daily Times, Feb. 12, 1852 p. 4.) He was a copartner of a general iron commission with T. Chouteau and John F.A. Sanford, who had been partners of Pierre Chouteau Jr., the son of the founder of St. Louis. (Copartnership. New York Daily Times, May 8, 1852 p. 3.) He and Charles F. Dambmann were directors of the Continental Bank in 1856. (Commercial Affairs. New York Daily Times, Feb. 6, 1856 p. 8.) He was a trustee of the Pacific Mutual Insurance Company, along with Martin Bates Jr. (Insurance. New York Daily Times, Jan. 23, 1855 p. 7; Financial. New York Daily Times, Jan. 20, 1857 p. 7.) He was a protesting stockholder of the Chicago, Rock Island and Pacific Railroad Company in 1868. (Financial. New York Times, May 30, 1868 p. 6.) He was a director of the Commercial Bank in 1874, along with Lorenzo Blackstone. (Business Interests. New York Times, Jan. 15, 1874.)

W. Butler Duncan of Duncan, Sherman & Co.

William Butler Duncan (1830-1912) was born in Edinburgh, Scotland to Alexander Duncan of Providence, Rhode Island. He was educated in Edinburgh and at Brown University. From 1874 to 1888, he was president of the Mobile & Ohio Railroad Co. and chairman of the board since 1888. He was also head of the Butler Exchange Co. of Providence, and a director of Southern & Atlantic Telegraph Co. He was President of the Pilgrim Society. "Mr. Duncan had the distinction of being the only American member of London's exclusive club, the Travelers. He became a member of this club in 1868 when the relations of the United States and England were strained over the Alabama claims. (Wm. Butler Duncan Dies in 82nd Year. New York Times, Jun. 21, 1912.) "Mrs. Duncan was Miss Jane P. Sargent. Her father, the late George W. Sargent, came from Philadelphia, and her mother was a native of Natchez, Miss., where the Duncan family has large plantations and a homestead." (Mrs. W. Butler Duncan Dead. New York Times, Dec. 12, 1905.) His great-nephew of the same name, born in 1862 in Providence, R.I., served on the auxiliary cruiser "Yankee" during the Spanish-American War. [The ship was formerly the Morgan liner El Norte.] He married Blanca Havemeyer, the daughter of Theodore A. Havemeyer. (W. Butler Duncan Dead in 71st Year. New York Times, Mar. 31, 1933.)

Duncan, Sherman & Co. had mercantile credits for Europe, India and China on George Peabody & Co. (Financial. New York Daily Times, Jan. 20, 1857 p. 7.) J. Pierpont Morgan, W. Butler Duncan, Samuel D. Babcock, and J. Boorman Johnston were on the Advisory Committee of Robinson & Cox, attorneys for United States Lloyds. Losses payable in London at the firm of J.S. Morgan & Co. [which had been formed in 1864 from Morgan, Peabody Co.] (Financial. New York Times, Dec. 24, 1866, p. 6.) After graduating from the University of Gottingen, John Pierpont Morgan (1837-1913) worked in the New York banking house of Duncan, Sherman & Co. from 1857-60, when he became the agent and attorney in New York for George Peabody & Co., 1860-64. (J.P. Morgan. Wikipedia). Morgan was a trustee of the Central Trust until his death.

William Butler Duncan was on the original advisory board of the Scottish American Investment Corporation Ltd., along with John A. Stewart and John S. Kennedy, later a trustee of the Central Trust. Duncan left when Duncan, Sherman & Co. failed in 1873, and J.S. Kennedy & Co. became the representative of Scottish American's interests. (The Man Who Found the Money. By Saul Engelberg and Leonard Bushkoff. Michigan State University Press, 1996.)

The Man Who Found the Money / CTRL Mail Archive

George D. Cragin of Cragin & Co.

George D. Cragin (~1816-1898) was born in Temple, New Hampshire. He was a produce dealer in New York City before establishing a packing business, Cragin & Co., in Chicago. He was one of the organizers of the exchanges which developed into the Produce Exchange in 1866, whose president he became. (George D. Cragin. New York Times, Mar. 3, 1898 p. 7; Trade and Commerce of Chicago. New York Daily Times, Jan. 22, 1855.) He was a vice-president of the New-York Warehousing Company, of which James P. Wallace and his partner, William W. Wickes, were the President and the Treasurer.

Herman Marcuse of Marcuse & Baltzer

"The death is announced by cable of Herman Marcuse of Niederwalluf, Germany. He was born at Hanover, and when a young man spent some time in this country. After a short apprenticeship in the house of Bliss Brothers, commission merchants, of Manchester, England, he established, in connection with the Bank for Handel und Industrie of Darmstadt and Gustav von Baur of Bonn, Germany, the banking house of G. von Baur & Co. Mr. von Baur retired after a few years, and Mr. Marcuse formed the firm of Marcuse & Baltzer, which soon became one of the leading foreign banking institutions of the country. After the civil war, Mr. Marcuse retired from active business and returned to Germany, where he lived at his country seat on the Rhine until the time of his death. While living abroad he was elected a member of the Board of Managers of the Deutsche Bank of Berlin and several other European banking establishments. Mr. Marcuse was in his seventy-sixth year. He leaves a wife." (Death List Of A Day. New York Times, Apr. 10, 1900.) He was a director of the Adriatic Fire Insurance Co. in 1858, and of the Germania Fire Insurance Co. with Charles F. Dambmann of the NYGIC, in 1859 (Insurance. New York Times, June 16, 1859 p. 7.)

Richard Lathers, President of G.W. Marine Insurance Co.

In his 1984 book, "Treason in America - From Aaron Burr to Averell Harriman," Anton Chaitkin says: 'In the late 1850s New York was, in fact, the center of the world's existing slave trade. Such trade was strictly illegal in New York. So how did Lamar get away with it?... In his 1941 book, 'Business and Slavery,' Philip S. Foner presents the historians' consensus that the trade began in 1857 and that 'from January 1859 to August 1860, it was conservatively estimated, close to one hundred vessels left the city for the slave trade.'" Chaitkin blames the Bank of the Republic, which handled the Southern states' business in New York, and had an interlocking directorate with the Great Western (Marine) Insurance Company, of which Richard D. Lathers was President. James T. Soutter, President of the Bank of the Republic, was director of the Great Western in 1859. Lathers and several other directors of the Great Western during 1859-64, including Samuel D. Babcock, W. Butler Duncan, J.B. Johnston, Henry F. Spaulding and J.P. Morgan, later formed the NYGIC and the Central Trust. James M. Brown of Brown Brothers & Co. and Brown, Shipley & Co.; and William M. Evarts were also directors of the Great Western. (Classified Ad 11. Financial. New York Times, Jan. 22, 1859 p. 7; Financial. New York Times, Jun. 7, 1864 p. 6.)

Treason In America / CTRL Mail Archive

The elections of the Bank of the Republic in 1854 included few of the "trans-Atlantic oligarchical syndicate backing the secessionist movement in the United States and providing financial depth for Lamar's operations." G.B. Lamar was vice president and a director; director James T. Soutter had replaced him as president. John J. Crane, the bank's president in the 1840s, was a director; he and Soutter were directors of the Great Western in 1865 and 1859, respectively. At least two of the directors, William H. Guion and Lucius Hopkins, were members of the New York Cotton Exchange; Guion was a director of the Great Western throughout the war. (Classified Ad 2. New York Daily Times, Feb. 27, 1854 p. 5.) Another director, Rufus R. Graves, left $100,000, "to be applied to the education of the colored people in the Southern States." It was the largest public bequest, with lesser amounts of $15,000 to the American Missionary Association, $10,000 each to the American Board of Foreign Missions, the Woman's Missionary Society Society of America, and the Home Missionary Society connected with the Congregational Church. (Will of the Late Rufus Graves. New York Times, Sep. 16, 1876.) His widow donated the missionary societies as well. (Mrs. Rufus R. Graves's Will. New York Times, Sep. 22, 1879.) Many of them were directors one of the multitude of little "insurance companies" that sprang up during the 1850s, most of which subsequently disappeared.

Directors of the Bank of the Republic, Feb. 20, 1863: George Collins, George G. Sampson, George B. Carhart, J.J. Crane, Francis Skiddy, J.B. Johnston, W.S. Tisdale, Henry A. Howe, W.H. Guion, W.L. Cogswell, Sumner R. Stone, and R.H. Lowry. Crane declined reelection as President, and Lowry was unanimously elected. Crane was unanimously elected vice-president, and Henry W. Ford appointed Cashier. (Classified Ad 9. New York Times, Feb. 23, 1863 p. 6.)

L. Von Hoffman of L. Von Hoffman & Co.

Louis A. Von Hoffman and Samuel D. Babcock were directors of International Bell Telephone Ltd. in 1897 (Corporation Elections. New York Times, June 3, 1897.)

Martin Bates of M. Bates, Jr., & Co.; also a Trustee of the Central Trust

Martin Bates (1814-1883) began in his father's fur trade business in Boston, and came to New York in the 1840s. He was a director of the American Exchange National Bank; a trustee of the Mutual Life Insurance Company for 25 years until his death; and a trustee and incorporator of the Central Trust Company. (Obituary 1. New York Times, Jan. 3, 1883 p. 5.) Bates was a trustee of the Pacific Mutual Insurance Company, along with U.A. Murdock. (Insurance. New York Daily Times, Jan. 23, 1855 p. 7; Financial. New York Times, Jan. 20, 1857.) He was a director of the Queen Insurance Company of Liverpool & London, along with NYGIC directors Samuel D. Babcock, Josiah M. Fiske, and J. Boorman Johnston, and Henry F. Spaulding of the Central Trust. (Classified Ad 3. New York Times, Jan. 22, 1880 p. 6.) Bates was a trustee of the Mutual Life Insurance Company from 1863 to 1882.

C.F. Dambmann of C.F. Dambmann & Co.

Dambmann and U.A. Murdoch were directors of the Continental Bank in 1856. (Commercial Affairs. New York Daily Times, Feb. 6, 1856 p. 8.) Dambmann and Herman Marcuse were directors of the Germania Fire Insurance Company in 1859 (Insurance. New York Times, Jun. 16, 1859 p. 7.) He died in 1868. (Died. New York Times, Jun. 29, 1868 p. 5.)

Noah L. Wilson of Wilson, Gibson & Co.

Noah L. Wilson was President of the Hillsboro & Cincinnati Railroad Company (Financial. New York Daily Times, Jul. 1, 1856 p. 6.). Noah L. Wilson of Ohio was a Commissioner of the Union Pacific Railroad, along with John S. Kennedy (later a trustee of the Central Trust) and Thomas W. Olcott (the father of Frederick P. Olcott of the Central Trust) of New York, William B. Ogden of Illinois (brother-in-law of members of the Butler law firm which created the Central Trust), and C.P. Huntington (partner of Leland Stanford of the Central Pacific and Southern Pacific Railroads) and D.O. Mills of California, when it got its big subsidy from the US Congress (Public Notices. New York Times, July 14, 1862.) Wilson was President of the North American Petroleum Company, which had properties in Ohio and Virginia. William H. Guion was a director. (Financial. New York Times, Nov. 28, 1864 p. 6.) Wilson was President of the newly-created American National Bank (Display Ad 4. New York Times, Feb. 28, 1865 p. 8), and a director of the Harmony Mutual Coal Company (Financial. New York Times, Nov. 23, 1865 p. 6.)

N.Y. Guaranty and Indemnity Co., 1866

New York Guaranty and Indemnity Company Directors: A.A. Low, L. Von Hoffman, Jonathan Thorne, Joel Wolfe, James B. Johnston, David Dows, U.A. Murdock, W. Butler Duncan, George D. Cragin, Herman Marcuse, Richard Lathers, Martin Bates, C.F. Dambmann, Noah L. Wilson; Samuel D. Babcock, President pro tem; James P. Wallace, Vice-President; Samuel G. Ogden, Treasurer. (New York Times, Feb. 7, 1866, p.6.) In August, Joshua J. Henry was elected President, and Francis J. Ogden, Treasurer. (Financial. New York Times, Aug. 1, 1866.)

Joshua J. Henry

Henry was a director of the Atlantic Mutual Insurance Company (Insurance. New York Daily Times, Feb. 11, 1852 p. 4.), along with Benjamin F. Babcock (Insurance. New York Daily Times, Feb. 9, 1856 p. 6; Financial. New York Daily Times, Feb. 2, 1857 p. 7; Classified Ad 10. New York Times, Feb. 14, 1863 p. 7.), and with Babcock, A.A. Low, and James Low (Classified Ad 18. New York Times, Feb. 16, 1864 p. 6), with Babcock, James Low, and William H. Webb (Classified Ad 13. New York Times, Feb. 17, 1865 p. 6; Financial. New York Times, Feb. 20, 1866 p. 6; Financial. New York Times, Feb 22, 1867 p.6; Financial. New York Times, Feb. 29, 1868 p. 6); a trustee of the Phenix Bank (Dividends. New York Daily Times, Jan. 19, 1854 p. 7.); the North American Fire Insurance Company, along with Jonathan Thorne, Wyllis Blackstone, Moses H. Grinnell, and William S. Wetmore. (Insurance. New York Daily Times, Jun. 1, 1855 p. 6.) A.A. Low and Jonathan Thorne offered the Board of Directors Resolution upon his death. (Obituary. New York Times, Sep. 19, 1868 p. 5.)

N.Y. Guaranty and Indemnity Co., 1870

"At the annual election of the New-York Guaranty and Indemnity Company, the following gentlemen were made Directors: Messrs. Samuel D. Babcock, A.A. Low, James B. Johnston, David Dows, Jonathan Thorne, Martin Bates, W. Butler Duncan, Richard Lathers, Joel Wolfe, John Caswell, Adrian Iselin, Josiah M. Fiske, James P. Wallace, Charles H.P. Babcock and David Salomon." (Financial and Commercial. New York Times, May 6, 1870.)

Charles H.P. Babcock (also a Trustee of the Central Trust)

Charles Henry Phelps Babcock (1825-1897) was Secretary of the Central Trust Company from its organization until his death at age 73. "Mr. Babcock was born and received his education in Stonington, Conn., and when eighteen years of age became a clerk with Francis Skinner & Co., a leading firm of domestic commission merchants in Boston. He was one of two representatives of that house when its New York branch was established some years later. Subsequently, for about ten years, he was one of the firm of Babcock & Milnor, dry goods importers. After retiring from the dry goods business he became one of the Vice Presidents of the Guaranty and Indemnity Company, and on the winding up of the affairs of that corporation took the position which he occupied until the time of his death." (Death List of a Day. New York Times, Mar. 26, 1897 p. 7.) He and Samuel D. Babcock were brothers who married sisters Cornelia and Elizabeth Crary Franklin, respectively.

One of C.H.P. Babcock's sons, Franklin L. Babcock, was a Secretary of the Central Trust. Another, William Evelyn Babcock, headed an insurance brokerage firm of his name. (William Evelyn Babcock. New York Times, Mar. 4, 1933.) Another, Charles Percival Babcock, died in 1934. (Deaths. New York Times, Jun. 11, 1934 p. 17.)

John Caswell

Caswell was a director of the Manhattan Fire Insurance Company, No. 68 Wall-st, along with Peter Cooper and Elisha Riggs (Insurance. New York Daily Times, Sep. 9, 1852 p. 4), and Jonathan Thorne (Insurance. New York Daily Times, Dec. 30, 1854 p. 7; Insurance. New York Daily Times, Dec. 1, 1855 p. 6.) (Classified Ad 22. New York Times, Apr. 7, 1864 p. 9.). He was a director of the Continental Insurance Company in 1861, along with fellow NYGIC directors Samuel D. Babcock and A.A. Low, also Hiram Barney of the Butler law firm and George W. Lane of the Central Trust, and Robert H. McCurdy, the father of Richard A. McCurdy of the Guaranty Trust. (Ad 7. The Independent, Jan. 31, 1861;130(635):7.) His business partners in John Caswell & Co. were William H. Caswell, Benjamin Bryer, and Edmund W. Corlies (Classified Ad 4. New York Times, Jul. 20, 1871 p. 6.). Bryer and William H. Caswell continued under the old firm name with John H. Caswell. (Legal Notice 2. New York Times, Jan. 5, 1872 p. 7.) He married Gertrude Robbins, daughter of Royal E. Robbins of Boston. The best man was William Caswell, and the ushers were her brother Reginald Robbins, Randolph Grew, George Tyson, and H. Russell Talbot of Boston, and Howard C. Smyth and Albert Cooley of New York. (Caswell-Robbins. New York Times, Sep. 13, 1894.) [Mrs. Caswell was a sister of Mrs. Albert G. Milbank, and a first cousin of Harry Pelham Robbins of Memorial Hospital.] John H. Caswell was a graduate of Columbia, and died at age 63. (Obituary Notes. New York Times, Oct. 19, 1909.) Corlies became a trustee of the Central Trust.

Josiah M. Fiske (also a Trustee of the Central Trust)

Josiah M. Fiske, of Smith, Fiske & Co., flour merchants, died in 1892. He was a director of the American Exchange Bank, New York Guaranty and Trust Company, and the New York Guaranty and Indemnity Company. He was born in Cambridge, Mass. and came to New York in 1850. He left several million dollars and no children. (Josiah M. Fiske Dies Suddenly; Prostrated As He Was Entering the American Exchange Bank. New York Times, Dec. 24, 1892.) He was a director of the Queen Insurance Company of London and Liverpool, along with NYGIC directors Samuel D. Babcock, Martin Bates, and J. Boorman Johnston, and Henry F. Spaulding of the Central Trust. Classified Ad 3. New York Times, Jan.. 22, 1880 p. 6.)

Adrian Iselin

"Although Mr. Iselin was one of the leading bankers of the country, very little has been published about him, and he never permitted a likeness of himself to appear in print. His father was a Swiss capitalist, who came to this country from Basel, Switzerland, early in the last century as a representative of the silk and glove industries of Lyons. His mother was of Swiss-French parentage. Mr. Iselin was born in Scotland while his parents were making a tour of the British Isles. He was educated abroad, and came to New York while a young man. For more than a quarter of a century he was the assistant to the Swiss Consul at this port." His wife, Eleanora, the daughter of Columbus O'Donnell of Baltimore, and several members of his family were Catholics, although he was not. His wealth was estimated at $20 to $50 million. They had six children - C. Oliver Iselin, William E. Iselin, Adrian Iselin Jr., Columbus O'Donnell Iselin, Mrs. De Lancey Astor Kane, Mrs. John G. Beresford, and Miss Georgiana Iselin. (Adrian Iselin Dead At His City Home. New York Times, Mar. 29, 1905.) Adrian Iselin Jr. married Miss Caylus; C. Oliver Iselin Jr. married Miss Fanny Garner, and after her death, Miss Hope Goddard of Providence, R.I.; Columbus O'Donnell Iselin married Miss Edith Jones; Mrs. Delancey Kane was formerly Eleanora Iselin, and Mrs. Beresford was Emilie Iselin. (Mrs. Adrian Iselin Dead. New York Times, Nov. 28, 1897.) Adrian Iselin was executor of the estate of James Gallatin, which amounted top $398,421.78. Martin J. Keogh of Temple Court and New Rochelle appeared with him. Gallatin's grandson, James F. Gallatin, who lived in Paris and was known as Count Gallatin, inherited the bulk of it. The balance was deposited in the New York Life Insurance and Trust Company. (A Fortune for "Count" Gallatin. New York Times, Jan. 31, 1886.) His son, Adrian Iselin Jr., was a director of the Guaranty Trust from 1892 to at least 1906, then a trustee of the Central Trust from at least 1908 to 1929, when he was replaced by Ernest Iselin.

Adrian Georg Iselin (1818-1905) was the son of Isaac Iselin (1783-1841). Isaac Iselin left Basel, Switzerland at the age of 18 and came to New York. He was employed with Le Roy, Bayard & McEvers as supercargo on the "Maryland" from Sep. 1805 to Apr. 1808, on a voyage from New York to the Cape Verde Islands, via Cape Horn to Canton, and then back via the Cape of Good Hope. He was a partner of de Rham, Iselin & Moore from 1808 until 1835, which eventually became A. Iselin & Co. and William Iselin & Co. He returned to Basel with his family in 1835, but returned to New York after the great fire of 1837 to restore the firm. After 1838 he returned to Basel. In 1810, he married Aimee Jeanne Susanne Emilie Roulet daughter of Jean Sigismond Roulet and Jeanne Marie nee Rossier. Adrian Iselin's older sister, Maria Helene Iselin (1811-1891), married banker Henri Barbey of New York and Geneva. (Heinrich Iselin von Rosenfeld und sein Geschlecht. By Friedrich Weiss-Frey, 1909, pp. 91-93.)

Heinrich Iselin von Rosenfeld / Internet Archive

Adrian Iselin first worked with his brother-in-law Henri Barney in Cottenet Barbey & Co., which became Moran & Iselin from 1840 to 1854, then various firms (Giraud Barbey & Co., Henry Barbey & Co., Richard, Iselin & Co., Iselin, Neeser & Co.) which ultimately became W. Iselin & Co., headed by his son. In 1864, he founded A. Iselin & Co. He promoted the New Rochelle Water Works and the Buffalo Rochester and Pittsburgh Railroad. ((Heinrich Iselin von Rosenfeld und sein Geschlecht. By Friedrich Weiss-Frey, 1909, pp. 99-100.)

David Salomon

David Salomon was Vice President and a director of the German-American Bank, at 120 Broadway. (Classified Ad 4. New York Times, Jan. 15, 1872 p. 6; The German-American Bank. New York Times, Apr. 19, 1874.)

In 1873, directors of the New York Guaranty & Indemnity Company and members of the Butler law firm formed the Central Trust.

The Central Trust

In 1891, the company was reorganized under the auspices of the Mutual Life Insurance Company, and its name was later changed to the Guaranty Trust Company of New York. Samuel D. Babcock and Josiah M. Fiske were the only directors from the old company.

The Guaranty Trust

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cast 05-06-12