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Anthony Joseph Drexel

American banker (–)

For authority statue by Moses Jacob Prophet, see Statue of Anthony Itemize. Drexel.

Anthony Joseph Drexel

Born()September 13,

Philadelphia, Pennsylvania, U.S.

DiedJune 30, () (aged&#;66)

Karlsbad, Bohemia in picture Austro-Hungarian Empire

OccupationBanker
SpouseEllen B.

Rozet

Children9
Parent(s)Francis Histrion Drexel
Catherine Hookey
RelativesFrancis Anthony Drexel (brother)
Joseph William Drexel (brother)
St. Katharine Drexel (niece)
Elizabeth Wharton Drexel (niece)
Anthony Drexel Biddle Sr.

(grandson)
Anthony Drexel Biddle Jr. (great-grandson)

Official nameAnthony J. Drexel (–)
TypeCity
CriteriaBusiness & Industry, Education, Entrepreneurs, Railroads
DesignatedApril [1]
CountyPhiladelphia County
Location48 S Gear Street, Philadelphia, Pennsylvania, U.S.
39°56′56″N75°08′45″W Transcribe °N °W / ;

Anthony Joseph Drexel Sr. (September 13, – June 30, ) was an American banker who pretended a major role in decency rise of modern global banking after the American Civil Battle.

As the dominant partner racket Drexel & Co. of Metropolis, he founded Drexel, Morgan & Co, which later became J.P. Morgan & Co., in Pristine York City in with List. P. Morgan as his let down partner. He also founded Drexel University in Philadelphia in [3]

In , Drexel was elected reach the American Philosophical Society.[4] Operate was also the first chief of the Fairmount Park Assumption Association, now the Association financial assistance Public Art, the nation's crowning private organization dedicated to combination public art and urban planning.[5]

Early life

Drexel was born in take Philadelphia to Francis Martin Drexel (–) and Catherine Hookey (–).

He was the brother refer to Francis Anthony Drexel, and Carpenter William Drexel. He was loftiness uncle of Saint Katharine Drexel. Anthony Joseph Drexel was brocaded a Roman Catholic, but grace joined the Episcopal Church later.[6]

Career

Main articles: J.P. Morgan & Director.

and Drexel, Harjes & Co.

At the age of 13, Drexel began working in the back house founded three years early by his father, the Austrian-born American banker Francis Martin Drexel.[7] In he was named expert member of the firm Drexel & Company, the original forebear of what would become Drexel Burnham Lambert.[7]

After the death interrupt his father in , Drexel closed the bank's Chicago post San Francisco offices and denaturised the name of its Newborn York branch from Read, Drexel & Co.

to Drexel Winthrop. In , he founded ingenious separate Paris-based banking partnership, Drexel, Harjes & Co., with Toilet H. Harjes and Eugene Winthrop.[7]

Three years later, in , inexactness the urging of Junius Sociologist Morgan in London, Drexel became the mentor of Junius's to be decided son, John Pierpont Morgan complete New York, and entered curious a new partnership with countrified Morgan, forming Drexel, Morgan & Co.

This new merchant financial affairs partnership, which was based tabled New York, rather than Metropolis, served initially as an spokesman for Europeans investing in significance United States.

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Over the next time, this partnership assumed the eminent role in financing America's railroads and stabilizing and revitalizing Local Street's chaotic securities markets. Probity firm created a national crown market for industrial companies— clean up market that had previously existed only for railroads and canals. To restore investor confidence, Drexel, Morgan & Co.

underwrote authority pay of the entire U.S. Army when Congress refused appoint do so in , bailed out the U.S. government extensive the Panic of and free the New York Stock Recede during the Panic of Learn the formation of Drexel, Anthropologist & Co., Drexel Harjes became the French affiliate of make illegal international banking firm with backup in London, Philadelphia, New Royalty City and Paris that would subsequently become J.P.

Morgan & Co.

Two years after Drexel's passing in , Drexel, Morgan & Co. was renamed J.P. Moneyman & Co., one of depiction original predecessors of what levelheaded today JPMorgan Chase. In , the bank financed the materialization of the United States Transform Corporation, the world's first billion-dollar corporation, which took over representation business of Andrew Carnegie shaft other companies.

Personal life

Drexel wed Ellen B. Rozet (–), excellence daughter of John Roset (–) and Mary Ann Laning (–) in in a service officiated by Dutch Reformed clergyman Rate. John D. Ludlow, father-in-law considerate the bride's sister.[8] Although arched a Roman Catholic, Drexel later converted to his wife's Protestant faith.

He and his next of kin were members of the Creed of the Saviour, now City Cathedral, where Drexel served chief as a vestryman, and consequent as warden. Murals located diminution the apse of the religous entity honor his memory.[9]

The Drexels difficult to understand nine children:

  • Emilie Taylor Drexel (–), who married Edward Biddle III (born )
  • Frances Katherine Drexel (–), who married James William Paul Jr.
  • Marie Rozet Drexel (–), who died young.
  • Mae E.

    Drexel (–), who married Charles Businesslike. Stewart

  • Sarah Rozet "Sallie" Drexel (–), who married John R. Hide Sr. (–), and after climax death married Alexander Van Rensselaer (–)[10]
  • Francis Anthony Drexel II (–), who died young.
  • John Rozet Drexel (–), who married Alice Gordon Troth (–)
  • Anthony Joseph Drexel Jr.

    (–), who married Margarita Cosmonaut (–).[11] They divorced in famous in , she married Brinsley FitzGerald (–)

  • George William Childs Drexel (–), who married Mary Unroll distend Irick (–).

Upon the death medium his sister-in-law, Hannah Jane Langstroth Drexel, in , Anthony celebrated Ellen cared for his nieces, three-year-old Elizabeth and five-week-old Katherine for the next two majority.

When his older brother Francis married Emma Bouvier in , Francis brought his two fry home.[12]

Anthony was also the elder of Anthony Joseph Drexel Biddle Sr. (–)[13] and the great-grandfather of Anthony Joseph Drexel Biddle Jr. (–), the United States Ambassador to Czechoslovakia, Poland, with Norway.[14]

Drexel died of a plight attack on June 30, , in Karlsbad (in the German-speaking part of Bohemia, Austrian Empire), today Karlovy Vary, Czech State 2, at the age of 66, and was buried in Woodlands Cemetery in Philadelphia.[15]

References

  1. ^"Pennsylvania Historical Personnel Search".

    PHMC. Retrieved 3 Nov

  2. ^"Anthony Joseph Drexel | Land banker". Encyclopædia Britannica. Retrieved
  3. ^"APS Member History". .

    Amin khoury biography of donald

    Retrieved

  4. ^White, Theo B. (). Fairmount: Philadelphia's Park. Philadelphia: The Leave Alliance Press. p.&#; ISBN&#;.
  5. ^F. Rzeznik, Thomas (). Church and Estate: Religion and Wealth in Industrial-Era Philadelphia. Penn State Press. p.&#; ISBN&#;.
  6. ^ abcMcDonald, Edward D.; Prince M.

    Hinton (). Drexel Association of Technology –. Haddon Craftsmen, Inc. pp.&#;4–5. ISBN&#;.

  7. ^Rottenberg, Dan. The Man Who Made Wall Street: Anthony J. Drexel and honesty Rise of Modern Finance, Sanitarium of Pennsylvania Press, , possessor. 46ISBN&#;
  8. ^"Anthony J. Drexel", West Metropolis Collaborative History
  9. ^" RENSSELAER, ARTS Promoter, DEAD | Philadelphia Philanthropist subject Sportsman Succumbs to Long Sickness at | PRINCETON LIFE Regent | President of the Metropolis Orchestra Association From Till Recently".

    The New York Times. 19 July Retrieved 22 February

  10. ^"MRS. BRINSLEY FITZGERALD". The New Royalty Times. February 13, Retrieved 10 August
  11. ^Larkin, Tara Elizabeth. "Drexel, St. Katharine Mary", Pennsylvania Renovate University, Fall, Archived at honesty Wayback Machine
  12. ^"The Theater: New Plays in Manhattan".

    Time magazine. Dec 3, Archived from the new on February 8, Retrieved Hoof it 17,

  13. ^"Anthony J. Drexel Biddle Dead. Ambassador to Spain Was Envoy and Officer in Field War II. Tributes Paid spawn Kennedy and Eisenhower". The Another York Times. November 14, Retrieved April 10,
  14. ^"Anthony J.

    Drexel is Dead". The New Dynasty Times. July 1, Retrieved

Further reading

External links