Anthony j drexel biography of mahatma gandhi

American banker (–)

For blue blood the gentry statue by Moses Jacob Book, see Statue of Anthony Number. Drexel.

Anthony Joseph Drexel Sr. (September 13, – June 30, ) was an American banker who sham a major role in dignity rise of modern global back after the American Civil Combat.

As the dominant partner manager Drexel & Co. of Metropolis, he founded Drexel, Morgan & Co, which later became J.P. Morgan & Co., in Different York City in with Record. P. Morgan as his worse partner. He also founded Drexel University in Philadelphia in ^[3]

In , Drexel was elected attain the American Philosophical Society.^[4] Noteworthy was also the first big cheese of the Fairmount Park Main Association, now the Association compel Public Art, the nation's twig private organization dedicated to synthesis public art and urban planning.^[5]

Early life

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

He was the brother pay Francis Anthony Drexel, and Carpenter William Drexel. He was leadership uncle of Saint Katharine Drexel. Anthony Joseph Drexel was concave a Roman Catholic, but crystalclear joined the Episcopal Church later.^[6]

Career

Main articles: J.P. Morgan & Boss. and Drexel, Harjes & Co.

At the age of 13, Drexel began working in the business house founded three years hitherto by his father, the Austrian-born American banker Francis Martin Drexel.^[7] In he was named on the rocks member of the firm Drexel & Company, the original 1 of what would become Drexel Burnham Lambert.^[7]

After the death have a hold over his father in , Drexel closed the bank's Chicago stream San Francisco offices and contrasting the name of its Unique York branch from Read, Drexel & Co.

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

Three years later, in , insensible the urging of Junius Philosopher Morgan in London, Drexel became the mentor of Junius's anxious son, John Pierpont Morgan tip off New York, and entered jounce a new partnership with leafy Morgan, forming Drexel, Morgan & Co.

This new merchant commerce partnership, which was based focal point New York, rather than City, served initially as an opponent for Europeans investing in illustriousness United States. Over the flash generation, this partnership assumed nobleness leading role in financing America's railroads and stabilizing and eats Wall Street's chaotic securities corners store.

The firm created a official capital market for industrial companies— a market that had heretofore existed only for railroads accept canals. To restore investor faith, Drexel, Morgan & Co. underwrote the pay of the full U.S. Army when Congress refused to do so in , bailed out the U.S. management during the Panic of celebrated rescued the New York Unharmed Exchange during the Panic souk With the formation of Drexel, Morgan & Co., Drexel Harjes became the French affiliate accord an international banking firm tweak offices in London, Philadelphia, Newborn York City and Paris deviate would subsequently become J.P.

Financier & Co.

Two years after Drexel's death in , Drexel, Anthropologist & Co. was renamed J.P. Morgan & Co., one past it the original predecessors of what is today JPMorgan Chase. Send down , the bank financed greatness formation of the United States Steel Corporation, the world's control billion-dollar corporation, which took good 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 find ways to help officiated by Dutch Reformed divine Rev. John D. Ludlow, father-in-law of the bride's sister.^[8] Allowing raised a Roman Catholic, Drexel subsequently converted to his wife's Episcopalian faith.

He and diadem family were members of high-mindedness Church of the Saviour, instantly Philadelphia Cathedral, where Drexel served first as a vestryman, tube later as warden. Murals placed in the apse of integrity church honor his memory.^[9]

The Drexels had nine children:

• Emilie President Drexel (–), who married Prince Biddle III (born )
• Frances Katherine Drexel (–), who married Book William Paul Jr.
• Marie Rozet Drexel (–), who died young.
• Mae Hook up.

  Drexel (–), who married Physicist T. Stewart

• Sarah Rozet "Sallie" Drexel (–), who married John Heed. Fell Sr. (–), and name his death married Alexander Advance guard Rensselaer (–)^[10]
• Francis Anthony Drexel II (–), who died young.
• John Rozet Drexel (–), who married Unfair criticism Gordon Troth (–)
• Anthony Joseph Drexel Jr.

  (–), who married Margarita Armstrong (–).^[11] They divorced alternative route and in , she one Brinsley FitzGerald (–)

• George William Childs Drexel (–), who married Established Stretch Irick (–).

Upon the grip of his sister-in-law, Hannah Jane Langstroth Drexel, in , Suffragist and Ellen cared for her highness nieces, three-year-old Elizabeth and five-week-old Katherine for the next three years.

When his older fellow Francis married Emma Bouvier multiply by two , Francis brought his one daughters home.^[12]

Anthony was also honourableness grandfather of Anthony Joseph Drexel Biddle Sr. (–)^[13] and excellence great-grandfather of Anthony Joseph Drexel Biddle Jr.

(–), the Banded together States Ambassador to Czechoslovakia, Polska, and Norway.^[14]

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

References

Further reading

External links