USA > New York > New York City > History of the city of New York, 1609-1909 > Part 54
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He is a member of the Theta Xi Fraternity, of the University Club, Algonquin Club, Boston Athletic Club, Art Club, Country Club, and Exchange Club of Boston, and of the Nahant Club of Nahant, Massachusetts, having his residence at the latter club. He is also a member of the New York Yacht Club, Eastern Yacht Club and Boston Yacht Club, and of the Massachusetts Automobile Club; steward of the National Steeplechase and Hunt Associa- tion, and member of the Metropolitan Club of Washington, D. C., and the Metropolitan Club of New York.
Galen L. Stone, the other of the original members and founders of the firm of Hayden, Stone & Company, is a native of Boston, and since completing his educational preparation has been actively identified with large financial activities. He is one of the soundest financiers in that market; a close stu- dent of the market and possessing a most complete knowledge of values, and more especially is this the case in reference to copper stocks and such other stocks and bonds as are most largely handled on the Boston Exchange. His sound and expert judgment and thorough financial insight have been valu- able factors among the many which have contributed to give the firm of Hay- den, Stone & Company the prestige it has attained in the financial world.
His tested qualifications as a judicious executive and able administrator have brought about his selection for membership in several directorates in- cluding some of great importance. He is a director of the Old Colony Trust Company, one of the greatest of the financial institutions of Boston, the At- lantic, Gulf and West India Steamship Company, United States Smelting, Refining and Mining Company, the Massachusetts Electric Street Railway Company, Lake Copper Company, Clyde Steamship Company, Mallory Steam- ship Company, New York and Cuba Mail Steamship Company (Ward Line), New York and Porto Rico Steamship Company (of Maine), and other cor- porations.
He is married and has four children; lives in Brookline, Massachusetts, and has his summer home at Marion, Massachusetts.
The close connection of the firm with the various markets, through mem- bership in the New York and Boston Stock Exchanges and through a clien- tele of national breadth, has given it an organization which is directed in such a way as to give the firm an effectiveness, such as few houses enjoy, for the carrying out of financial campaigns in the stock market. The house is con- stantly identified with many of the most important operations on the New York and Boston Exchanges. The New York house, under the immediate management of Mr. N. B. MacKelvie of the firm, has been steadily prosperous, and is regarded as one of the strongest in the metropolis.
JOSEPH TATE
577
TOSEPH TATE, banker and broker, was born in Tompkinsville, Staten
Island, December 28, 1849, the son of James and Elizabeth ( McLean)
Tate. The family, originally from the north of Ireland, has been settled in this country for several generations.
Mr. Tate was educated in public schools, and at the private school con- ducted by Rev. John H. Sinclair at Stapleton, Staten Island.
On leaving school he was employed in a Wall Street house, later becom- ing a clerk, first with Nathan Cohen & Company and afterward with James Boyd, and in 1870 entered the employ of Closson & Hays, remaining there until its dissolution in 1885, when he became partner in the firm of E. St. John Hays & Company, its successor, which was in turn succeeded in 1899 by Tate & Hays, of 71 Broadway, bankers and brokers, now composed of Joseph Tate, William Henry Hays and Augustus Knapp. The firm has membership in the New York Stock Ex- change and is one of the best known of the houses now connected with that in- stitution and operating on its floor. Mr. Tate is also president and director of the Eighth Avenue Rail- JOSEPH TATE road Company and Ninth Avenue Railroad Company. He is a member of the National Geographic Society, the Navy League of the United States, and the New York, New York Athletic, Economic, and Staten Island Clubs.
He married, at Stapleton, Staten Island, November 16, 1875, Annie Liv- ingston Warner, and has one daughter, Annie Warner, who married Frank De Witt Pitkin.
37
578
HISTORY OF NEW YORK
HENRY SANDERSON
579
HENRY SANDERSON
H ENRY SANDERSON, now senior member of the New York Stock Exchange firm of Sanderson & Brown, is a native of Titusville, Pa., where he was born December 20, 1867, son of Edward P. and Elise (Cras- sous ) Sanderson. He is of English descent on his father's and French on his mother's side, and his maternal great-grandfather was governor of the Island of Martinique, in the West Indies. On the paternal side his first American ancestor was John Sanderson, who came from England, about 1765, to Amer- ica, settling in Pennsylvania. His paternal grandfather, Joseph M. Sander- son, was a noted educator and classical scholar and author of Biography of the Signers of the Declaration of Independence.
Henry Sanderson was educated in public schools and privately, and be- coming interested in the subject of electrical illumination, he was one of the pioneers in the electric lighting interest in New York City, becoming secre- tary, in 1889, of the Mount Morris Electric Light Company, the American Electric Light Company of New York, and the Yonkers Electric Light Com- pany of Yonkers, N. Y. He afterward became president of those corpora- tions, which he sold, in 1898, to the Whitney-Brady syndicate; and assisted in organizing the present New York Edison Company. In 1900 he established and became president of the New York Transportation Company and the Fifth Avenue Stage Company, and in 1901 he organized and became presi- dent of the first trolley express service in New York State, the Metropolitan Express Company, operating between New York City and Westchester. In 1905 he came to Wall Street, organizing the Stock Exchange firm now known as Sanderson & Brown, of which he is the senior member. He is now a director of the New York Transportation Company, Metropolitan Express Company, Fifth Avenue Coach Company, Metropolitan Securities Company, Motor Cab Company of New York, Taximeter Carriage Company, Eagle Gold Mining Company, Park Carriage Company, and Yonkers Electric Light and Power Company, and is identified with a number of large interests as a stock- holder. The banking firm of Sanderson & Brown is one of the best known in Wall Street.
Mr. Sanderson is a Republican in politics, and is well known in social life. His favorite recreation is motoring, and he is president of the Auto- mobile Club of America. He is also a member of the Metropolitan Club, New York Yacht Club, New York Athletic Club, Liederkranz, New York Railroad Club, Rumson Country Club, Red Bank Yacht Club, and the Penn- sylvania Society of New York. He has his town home at 130 East Sixty- seventh Street, and a country house at Locust Point, New Jersey.
Mr. Sanderson married, at Irvington-on-Hudson, New York, February I, 1893, Beatrice Walter, and has two children: James Reed Sanderson, born November 12, 1894, and Henry Geoffrey Sanderson, born August 10, 1899.
580
HISTORY OF NEW YORK
BENJAMIN BUTTERS BRYAN
581
BENJAMIN BUTTERS BRYAN
B ENJAMIN BUTTERS BRYAN, who has long held a position of distinction in the grain commission trade, was born in Savannah, Georgia, October II, 1860, the son of James William Findlay Bryan and Allison McIntyre (Butters) Bryan, both of whom were born in Scotland. His father, who came from Glasgow, Scotland, where he was in the grain and provision business, came to America about 1850, and settled in Savannah, Georgia, where, during the Civil War, he joined the Savannah Guards, and was killed at Charleston, South Carolina, in 1862.
In boyhood Mr. Bryan was sent to Scotland, where he was educated in the Carleton Commercial Academy, Glasgow.
He started upon his business career in 1876 with the old firm of Dunlop Brothers, grain and flour merchants, in Glasgow, Scotland, afterward leaving them to enter his uncle's firm, D. Butters & Company, grain shippers, in Mon- treal, Canada. Receiving an offer from the Bank of Montreal, he was engaged in the service of that institution for about four years, at the end of which time he left to again enter the grain business, in Chicago. For the past twenty-five years he has been connected with and active in the Chicago Board of Trade grain commission and New York stock and cotton brokerage busi- ness, and partner in the old and well-known firm of F. G. Logan & Company, who were succeeded by Logan & Bryan, the present firm.
Mr. Bryan, as director of the Chicago Board of Trade and chairman of its Promotion Committee, was at the head of much hard work done for that institution in the interests of that and other exchanges, as well as at Wash- ington, D. C., and all over this country, serving as a member of the Com- mittee of Four, representing the Chicago Board of Trade in defending legiti- mate exchanges before President Roosevelt and Congress in 1908.
He is a member of the New York Stock Exchange, Cotton Exchange, Coffee Exchange and Produce Exchange, New Orleans Cotton Exchange, Chicago Board of Trade, and other exchanges.
Mr. Bryan established the first private wire between New York and the Pacific for expediting and handling brokerage business, as well as establish- ing the well-known Logan & Bryan private wire system covering over twenty thousand miles of territory in the United States and Canada and doing a stock brokerage business with all exchanges. He makes his business headquarters at the New York office of Logan & Bryan, III Broadway.
He is a member of the Union League and other clubs in Chicago and of the Calumet Club in New York City. His city residence is at the Holland House, and he has a country residence at Allenhurst, New Jersey.
Mr. Bryan married, in Chicago, Mary Clara Taylor, daughter of James Madison Taylor, of Philadelphia, and has had three sons: James T. Bryan, born 1891; Benjamin Butters Bryan, Jr., born 1893; and one deceased.
582
HISTORY OF NEW YORK
ANSEL OPPENHEIM
583
ANSEL OPPENHEIM
A NSEL OPPENHEIM, one of the most successful of the enterpris- ing and progressive men who found their way to fortune and dis- tinction by an intelligent realization of the opportunities afforded by the growth of the Northwest, is a native of New York City, born here January 5, 1847, the son of Isaac and Henrietta (Worms) Oppenheim. His father, Isaac Oppenheim, was a native of Germany, who came to this country in 1842 and engaged with much success in the mercantile business in New York City.
Mr. Oppenheim received an excellent education in the public schools and college of New York. He commenced the study of law at an early age, re- moving to Sparta, Wisconsin, in 1874, and continued his studies after he was married. His marriage took place June 21, 1869, to Josie Greve, daughter of Herman Greve. At that time Mr. Greve lived at Sparta, Wisconsin, and he had a well-established position and a high reputation throughout the State. He went to Saint Paul in 1885, and at the time of his death was one of the largest owners of Saint Paul real estate. Mr. Oppenheim was admitted to the bar of Minnesota in 1878, at Saint Paul, of which city he became one of the foremost citizens.
Possessed of keen insight and judicial mind, Mr. Oppenheim had every qualification, in addition to technical knowledge, to make him successful at the bar, and he formed a copartnership with the Hon. John Brisbin, and engaged in the practice of law at Saint Paul, Minnesota. He did not, how- ever, continue long in professional work, a study of the conditions in Minne- sota and the Northwest having convinced him that in the real estate business he would find a more ready road to financial success. He and his father-in- law organized a firm under the title of H. Greve & Company, and they en- tered upon a career of large dealings in real estate. That firm purchased the Saint Paul City Railway in 1880, and Mr. Oppenheim, after that, became in- terested in many of the most important and successful investment enterprises in the Minnesota capital. He was a member of the firm of Oppenheim & Kal- man who, with associates, built the Metropolitan Opera House in Saint Paul, which at the time of its building was regarded as the finest edifice of its kind in the Northwest; and he was president of the Union Stock Yards of Saint Paul, Minnesota, when they were built.
He acquired other interests, and he participated very actively in railway undertakings and particularly in the Chicago. Saint Paul and Kansas City Railroad, which was afterwards merged in the present Chicago Great Western Railway, of which he was vice president and director, that company owning an important railway system extending from Chicago northwest to Saint Paul, and southwest to Kansas City. He is still interested as director in numer- ous corporations in Saint Paul, including the Interstate Investment Company,
584
HISTORY OF NEW YORK
Limited, of which he is vice president, and the Metropolitan Opera House of Saint Paul.
There is no man who has better judgment of values and investments in the Northwest than Mr. Oppenheim, and he is an authority upon that subject, frequently interviewed by the financial papers of New York with regard to Northwest conditions and investments; and he has also written several arti- cles for London financial journals on subjects pertaining to Minnesota and the Northwest.
Mr. Oppenheim is public spirited, and has never been so absorbed in his business as to be indifferent to questions of general welfare. Before he left New York for the West, he served as a member of the Thirty-seventh Regi- ment of the National Guard of the State of New York, and after becoming a citizen of Saint Paul, he received several civic appointments, being appointed, in 1880, a member of the Board of Equalization of the State of Minnesota, and in 1890 was a member of the Assembly of the City Council of Saint Paul, Minnesota. He is a Democrat in politics, and served as chairman of the Democratic County Committee of Ramsey County, Minnesota, at Saint Paul; was also chairman of the State Democratic Committee of Minnesota, and he was a delegate to the. National Democratic Convention which nominated Gro- ver Cleveland for the first time for President of the United States at Chicago in 1884.
Mr. Oppenheim has most valuable financial connections, East, West and abroad, and a large acquaintance with American and foreign capitalists, which has been of valuable assistance in his extensive operations. He has his office in the Oppenheim Building, at Saint Paul, Minnesota, and a New York office at 31 Nassau Street, and is a nonresident member of the National Democratic Club of New York City. He is also a member of the Town and Country Club of Saint Paul, the Minnesota Club of Saint Paul, and The Historical So- ciety of Minnesota and of several other societies; and is a member of the Masonic Order.
Mrs. Oppenheim holds a very prominent place in the best social circles of Saint Paul, and is also well known in New York Society; is an author of several books and a frequent contributor of verse to leading magazines. She has been very largely identified with charitable and civic improvement work in Saint Paul.
Mr. and Mrs. Oppenheim have three sons. The eldest of these, Her- man Oppenheim, born July 19, 1870, is a lawyer by profession and has served as assistant corporation attorney of Saint Paul. The second son, Lucius Julius Oppenheim, who is a member of the New York Stock Exchange, mar- ried, in 1906, Genevieve Thomas, of Baltimore; and the third son is Greve Oppenheim.
585
GEORGE WASHINGTON YOUNG
G EORGE WASHINGTON YOUNG, banker, was born in Jersey T City, N. J., July 1, 1864, being the son of Peter and Mary (Crosby) Young, both of Scotch-Irish extraction. He was educated in pub- lic and high schools, and took a scientific course in Cooper Union.
He entered a lawyer's office at thirteen, later entering the Hudson County National Bank, of which he became receiving teller at eighteen. The same year he received appoint- ment from President Arthur and passed the entrance examination for the United States Military Academy, but his father's illness and death precluded him from entering.
Continuing in the bank- ing business, he was elected secretary and treasurer of the New Jersey Title Guar- antee and Trust Company at the age of twenty-one; and at twenty-eight became vice president and treasurer of the United States Mort- gage and Trust Company, and a year later its presi- dent, serving as such twelve years, until in March, 1905, he established the private banking house of George W. Young & Company, now one of the most prominent in New York.
Mr. Young is a mem- ber of the Chamber of GEORGE WASHINGTON YOUNG Commerce, the Zoological Society; Metropolitan Museum of Art, Automobile Club of America, and numerous leading clubs of New York, Chicago and New Jersey.
He has been twice married and has a daughter, Dorothy, and a son, George Washington, Jr. His present wife is Lillian Nordica, one of the most distinguished grand opera singers of the age. He is a resident of New Jer- sey, his home being at Oakwood Farm, Deal Beach, N. J.
586
HISTORY OF NEW YORK
RICHARD PURDY LOUNSBERY
587
RICHARD PURDY LOUNSBERY
R ICHARD PURDY LOUNSBERY, head of the firm of Lounsbery & Company, one of the most prominent of those connected with the New York Stock Exchange, was born in Bedford, New York, August 9, 1845, the son of James Lounsbery, a prominent dry goods merchant of New York City, and of Ann Phillips (Rundle) Lounsbery, daughter of Solomon Rundle, of Peekskill, New York.
He is descended on both sides from early English settlers, of New Eng- land and New York, his earliest paternal ancestor having been Richard Louns- bery, who came from Yorkshire, England, in 1643, and settled at Rye, New York. His mother was a descendant of Rev. George Phillips, who was min- ister on the Arabella, the ship in which Governor Winthrop came from England, in 1630, and in that Phillips family have been many men of distinc- tion, including John and Samuel Phillips, founders of the Phillips Exeter and Phillips Andover Academies; John Phillips, the first mayor of Boston; Wen- dell Phillips, the orator, and Bishop Phillips Brooks.
Richard Purdy Lounsbery was educated in the Bedford Academy under General James W. Husted, and was instructed by Rev. Robert Bolton, who wrote the History of Westchester County, and was prepared for college by Professor Albert W. Williamson.
Mr. Lounsbery went into Wall Street with Henry Knickerbocker in 1863, that firm later becoming Mills, Knickerbocker & Company, bankers and brokers, with whom he remained until January 1, 1867, when he went into the bond and gold business with W. S. Fanshawe, under the firm name of Lounsbery & Fanshawe. That firm did a large business, principally for Jay Cooke & Company, Fisk & Hatch, J. P. Morgan, and Stern Brothers of Lon- don. The firm made a substantial fortune during the Black Friday Panic of September, 1869; the members retired and went to Europe in December, 1869. Mr. Lounsbery became a member of the New York Stock Exchange May, 1869.
After returning from Europe, Mr. Lounsbery traveled through the West, visiting California in 1871. While in the West he became interested in min- ing, making investigations that gave him a valuable practical knowledge of mining methods and operations, forming an especially effective foundation for the large business in mining securities which he subsequently undertook. He bought some mines in Utah, and built smelting works in 1872, the first shaft furnace to reduce silver and lead ores in this country. His connection with the actual organization, equipment and management of mines, continuing for over six years, and the knowledge he gained in regard to the various mining districts of the Pacific coast, gave direction to his business plans, and when he returned to Wall Street, in 1877, it was to take up the banking and brokerage business with a specialty in mining securities, backed by a fund of expert
588
HISTORY OF NEW YORK
knowledge of the mining situation such as few other men on the street pos- sessed in equal degree.
He established the firm of Lounsbery & Haggin, in association with Ben Ali Haggin. That firm built up a very successful business in which the handling of the securities of prominent gold, silver and copper mining corpo- rations was a leading, though by no means an exclusive feature, the opera- tions of the firm covering all the varied departments of a general banking and stock brokerage business. That partnership continued until 1884, when Mr. Haggin retired and the firm of Lounsbery & Company succeeded, the present members of which are Mr. Lounsbery, Walter Deady, and Philip M. Lydig. The firm is one of the strongest and best known in the Wall Street district, having participated in many of the most extensive financial operations during its long connection with the Stock Exchange. Among the important opera- tions of the firm were the placing of the Ontario (silver), Homestake (gold), and Anaconda (copper) stocks on the New York Stock Exchange.
Mr. Lounsbery is interested financially in a number of mining corpora- tions, and is a director of the Mutual Trust Company, of Westchester County, New York. His high standing in the business community is based upon a record in which are displayed uniform loyalty to the interests confided to his care and the skill of the experienced financier in the conducting of negotia- tions and the planning and direction of stock market campaign, in which his success has been such as to fully justify his reputation as one of the best in- formed and most skillful of the financial men of the Wall Street district. He enjoys much personal popularity and has many valued friendships, as well as business connections, among the leading men of "the street."
Mr. Lounsbery is a Republican in politics, though not politically active, and he is a vestryman of St. Matthew's Church (Protestant Episcopal), in Bedford, New York.
Mr. Lounsbery is fond of outdoor sports, including hunting, fishing, and yachting, and he has numerous social and club affiliations. He is a member of the Metropolitan Museum of Art, the American Museum of Natural His- tory, the New York Zoological Society, New York Horticultural Society and Botanical Gardens, the St. Nicholas and New England Societies of New York; is a member of the City, Union League, Metropolitan, New York Yacht, New York Athletic, Grolier, Rocky Mountain, City Midday, Stock Exchange Luncheon, and Riding Clubs, of New York; the St. James Club of Montreal, the Forest and Stream, and Saint Jerome Clubs of Canada.
Mr. Lounsbery married at San Francisco, California, August 21, 1878, Edith Haggin, daughter of James B. Haggin. They have three children: James Ben Ali Haggin Lounsbery, who married Rhea Seaver; Edith Louns- bery, who married Henry Pierepont Perry; and Richard Lounsbery.
589
NORMAN BRUCE REAM
N ORMAN BRUCE REAM, one of the most prominent of American capitalists and men of affairs, was born in Somerset County, Penn- sylvania, November 5, 1844. His boyhood was spent on the farm and in acquiring an education in the common and normal schools. He taught school for one term and then started in as a farmer, also procuring a photograph outfit and dividing his time between the two occupations, until the call of Mr. Lincoln for troops roused in him a desire for service. He enlisted as a pri- vate in the Eighty-fifth Pennsylvania Volunteers, went to the front and took part in the battles of his regiment, was promoted to first lieutenant for gal- lantry in action, and continued in the service until incapacitated by wounds received in battle near Savannah, Georgia, and returned to his home a com- missioned officer before he had attained his majority.
As soon as his wounds would permit, he went to work as clerk in a store at Harnedsville, Pennsylvania, where he was employed in 1865 and 1866, and then, having saved some money, he went West, and started in business for himself at Princeton, Illinois, in 1866, afterward establishing in business in live stock, grain, real estate and agricultural implements in Osceola, Iowa, and continuing those enterprises until 1871, when he went to Chicago, enga- ging in a live stock and grain commission business. He continued in that business until 1888, in the meantime making sagacious investments in real estate, street railway and bank stocks, railroad stocks and other conservative and well-chosen securities, so that when he retired from the commission busi- ness to devote his attention to the management of his personal interests and investments he had already attained an important place in the list of the most prominent, as well as the wisest, of the capitalists and financiers of Chicago.
Mr. Ream has been a director of the First National Bank of Chicago for many years, and also a director of the Pullman Company, and he is a trustee of the estate of the late George M. Pullman. He has been a member of the Board of Directors of the United States Steel Corporation from its incorpo- ration, and is also a member of the Finance Committee. He is a director of numerous railroad companies, prominent among which are the Baltimore and Ohio, Erie Railroad, Chicago and Erie, Chicago, Burlington and Quincy, Cincinnati, Hamilton and Dayton, New York, Susquehanna and Western, Pere Marquette, Seaboard Air Line, Brooklyn Rapid Transit, and others; and director of the International Harvester Company, the National Biscuit Com- pany ; trustee of the Metropolitan Trust Company of New York, New York Trust Company, and several other corporations.
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