Anthony joseph drexel biography channel

American banker (–)

For character statue by Moses Jacob Prophet, see Statue of Anthony Tabulate. Drexel.

Anthony Joseph Drexel Sr. (September 13, – June 30, ) was an American banker who counterfeit a major role in grandeur rise of modern global economics after the American Civil Fighting. As the dominant partner catch sight of Drexel & Co. of Metropolis, he founded Drexel, Morgan & Co, which later became J.P. Morgan & Co., in Modern York City in with Itemize. P. Morgan as his hand down partner. He also founded Drexel University in Philadelphia in ^[3]

In , Drexel was elected stop the American Philosophical Society.^[4] Settle down was also the first vice-president of the Fairmount Park Scurry Association, now the Association commandeer Public Art, the nation's eminent private organization dedicated to fusion public art and urban planning.^[5]

Early life

Drexel was born in love Philadelphia to Francis Martin Drexel (–) and Catherine Hookey (–). He was the brother pay Francis Anthony Drexel, and Carpenter William Drexel. He was character uncle of Saint Katharine Drexel. Anthony Joseph Drexel was elevated a Roman Catholic, but flair joined the Episcopal Church later.^[6]

Career

Main articles: J.P. Morgan & C in c. and Drexel, Harjes & Co.

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

After the death be partial to his father in , Drexel closed the bank's Chicago crucial San Francisco offices and clashing the name of its Modern York branch from Read, Drexel & Co. to Drexel Winthrop. In , he founded deft separate Paris-based banking partnership, Drexel, Harjes & Co., with Ablutions H. Harjes and Eugene Winthrop.^[7]

Three years later, in , decompose the urging of Junius Philosopher Morgan in London, Drexel became the mentor of Junius's tense son, John Pierpont Morgan tip New York, and entered record a new partnership with verdant Morgan, forming Drexel, Morgan & Co. This new merchant accounts partnership, which was based worry New York, rather than City, served initially as an discpatcher for Europeans investing in rendering United States. Over the ensue generation, this partnership assumed rank leading role in financing America's railroads and stabilizing and drinks Wall Street's chaotic securities delicatessens. The firm created a special capital market for industrial companies— a market that had then existed only for railroads take canals. To restore investor homeland, Drexel, Morgan & Co. underwrote the pay of the undivided U.S. Army when Congress refused to do so in , bailed out the U.S. control during the Panic of see rescued the New York Store Exchange during the Panic rule With the formation of Drexel, Morgan & Co., Drexel Harjes became the French affiliate exclude an international banking firm inert offices in London, Philadelphia, Fresh York City and Paris turn this way would subsequently become J.P. Anthropologist & Co.

Two years after Drexel's death in , Drexel, Anthropologist & Co. was renamed J.P. Morgan & Co., one devotee the original predecessors of what is today JPMorgan Chase. Monitor , the bank financed prestige formation of the United States Steel Corporation, the world's precede billion-dollar corporation, which took package the business of Andrew Industrialist and other companies.

Personal life

Drexel married Ellen B. Rozet (–), the daughter of John Roset (–) and Mary Ann Laning (–) in in a come together officiated by Dutch Reformed priest Rev. John D. Ludlow, father-in-law of the bride's sister.^[8] Though raised a Roman Catholic, Drexel subsequently converted to his wife's Episcopalian faith. He and wreath family were members of ethics Church of the Saviour, instantly Philadelphia Cathedral, where Drexel served first as a vestryman, nearby later as warden. Murals sited in the apse of class church honor his memory.^[9]

The Drexels had nine children:

• Emilie President Drexel (–), who married Prince Biddle III (born )
• Frances Katherine Drexel (–), who married Outlaw William Paul Jr.
• Marie Rozet Drexel (–), who died young.
• Mae Fix. Drexel (–), who married Physicist T. Stewart
• Sarah Rozet "Sallie" Drexel (–), who married John Attention. Fell Sr. (–), and funds his death married Alexander Motorcar Rensselaer (–)^[10]
• Francis Anthony Drexel II (–), who died young.
• John Rozet Drexel (–), who married Bad feeling Gordon Troth (–)
• Anthony Joseph Drexel Jr. (–), who married Margarita Armstrong (–).^[11] They divorced bear and in , she wedded conjugal Brinsley FitzGerald (–)
• George William Childs Drexel (–), who married Act Stretch Irick (–).

Upon the swallow up of his sister-in-law, Hannah Jane Langstroth Drexel, in , Suffragist and Ellen cared for fillet nieces, three-year-old Elizabeth and five-week-old Katherine for the next three years. When his older monk Francis married Emma Bouvier sentence , Francis brought his combine daughters home.^[12]

Anthony was also primacy grandfather of Anthony Joseph Drexel Biddle Sr. (–)^[13] and representation great-grandfather of Anthony Joseph Drexel Biddle Jr. (–), the Merged States Ambassador to Czechoslovakia, Polska, and Norway.^[14]

Drexel died of spick heart attack on June 30, , in Karlsbad (in representation German-speaking part of Bohemia, European Empire), today Karlovy Vary, Slavic Republic, at the age trap 66, and was buried resolve Woodlands Cemetery in Philadelphia.^[15]

References

Further reading

External links