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James Stillman

From Wikipedia, the free encyclopedia

American businessman (1850–1918)
For the president of National City Bank, seeJames A. Stillman.
James Stillman
President of National City Bank
In office
1891–1909
Preceded byPercy Rivington Pyne I
Succeeded byFrank Arthur Vanderlip, Sr.
Chairman of National City Bank
In office
1909–1918
Succeeded byFrank Arthur Vanderlip, Sr.
Personal details
Born
James Jewett Stillman

(1850-06-09)June 9, 1850
Brownsville, Texas, U.S.
DiedMarch 15, 1918(1918-03-15) (aged 67)
New York City, U.S.
SpouseSarah Elizabeth Rumrill
ChildrenSarah Elizabeth Stillman
James Alexander Stillman
Isabel Goodrich Stillman
Charles Chauncey Stillman
Ernest Goodrich Stillman
Parent(s)Charles Stillman
Elizabeth Pamela Goodrich
OccupationBanker

James Jewett Stillman (June 9, 1850 – March 15, 1918) was an American businessman who invested in land, banking, and railroads in New York, Texas, and Mexico. He waschairman of the board of directors of theNational City Bank.[1] He forged alliances with theRockefeller family,Standard Oil andKuhn, Loeb & Co. to lay a foundation that made it, arguably, "the greatest bank in the Western Hemisphere."[2] He engaged in an expansion policy that made National City the largest bank in the United States by 1894, the first to open foreign branches, and a leader in foreign exchange.[3] By 1902, the bank was able to pay any sum of money to any city in the world within 24 hours.[4] He was worth approximately $77 million at the time of his death, making him one of the wealthiest people in the country at the time.

Biography

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Stillman was born on June 9, 1850, toCharles Stillman (1810–1875) and Elizabeth Pamela Goodrich inBrownsville, Texas, a town founded by his father. Both of his parents were born inWethersfield, Connecticut. Charles Stillman had significant business interests which James acquired in 1872. He expanded those to control of sixteen Texas banks and a significant land holdings in theRio Grande Valley, particularlyCorpus Christi andKerrville, Texas.[5]

1906 Fractional Warrant certificate issued by the B&O railroad in favor of James Stillman

Stillman was an investor in a Fractional Warrant of theBaltimore & Ohio Railroad.

Along withEdward Henry Harriman,Jacob Henry Schiff andWilliam Rockefeller, he controlled the most important Texas railroads (including theTexas and Pacific Railway, theSouthern Pacific Railroad, theInternational-Great Northern Railroad, theUnion Pacific Southern Railway, theSt. Louis, Brownsville and Mexico Railway, and theMexican National Railroad).

In 1876, Stillman supportedPorfirio Díaz's overthrow of the government of Mexico by the Revolution of Tuxtepec.

He waschairman of the board of directors of theNational City Bank and retired in 1908.[1]

He died on March 15, 1918, at his home at 9 East 72nd St (also calledThe Henry T Sloane House)[1] His funeral was atSt. Bartholomew's Episcopal Church, New York.[6]

Personal life & family

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James Stillman was married to Sarah Elizabeth Rumrill from 1855 to 1925.[7] Together they had:

Stillman was an intimate friend of bothJames O. Bloss andJohn William Sterling. After the death ofJames Gordon Bennett Jr., it was learned by the administrators of his estate that he had appointed Stillman one of the administrators and trustees. Stillman had little or no opportunity to act under the authority of Bennett's will, as he died a few weeks after Bennett's death. Stillman named Sterling one of his executors. Sterling could hardly have begun his duties under Stillman's will when he too died suddenly. The Bennett estate, the Stillman estate and the Sterling estate totaled about $76,000,000. After Sterling's death it was learned that he had appointed his long time intimate companion, Bloss, one of the executors. And a few weeks after Sterling's death, Bloss died.[12]

Descendants

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His grandchildren includedGodfrey Stillman Rockefeller (1899–1983), a financier, andJames Stillman Rockefeller (1902–2004), who married Nancy Carnegie (died 1994), grandniece ofAndrew Carnegie. James also served as president of National City from 1952 to 1959 and was chairman from 1959 to 1967.[13] His great-grandson is the director, andAcademy Award nominee,Whit Stillman (born 1952).[14]

Legacy

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In 1928, theC.O. Stillman was named in his honor. At the time, it was the largestoil tanker in the World.[15] Stillman is considered to have been one of the 100 wealthiest Americans, having left an enormous fortune.[16]

References

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  1. ^abc"James Stillman, Head Of City Bank, Dies Suddenly".New York Times. March 16, 1918. RetrievedSeptember 16, 2012.James Stillman, Chairman of the Board of Directors of the National City Bank, the Presidency of which he resigned in 1908, when he was succeeded by Frank A. Vanderlip, died suddenly yesterday afternoon at 5:30 O'clock at his home, 9 East Seventy-second Street. ...
  2. ^Bovykin, V.I. and Cameron, RondoInternational Banking 1870–1914 pp. 67-69 (1994).
  3. ^Pal, Susie J.Gentlemen Bankers p. 233 (2013).
  4. ^Bovykin, V.I. and Cameron, RondoInternational Banking 1870–1914 pp. 67 (1994).
  5. ^Hart, John Mason."Charles Stillman".Handbook of Texas Online. Texas State Historical Association. RetrievedNovember 24, 2012.
  6. ^"F. A. Vanderlip May Succeed Stillman. Slated for Chairman of City Bank and One of the Executive Managers as President. W. A. Simonson Spoken Of. James Stillman's Loss Felt Keenly by the French, Whom He Had Helped Liberally. Guess as to Possible Changes. Presidency in Doubt. Gave Liberally to the French. Great Growth Under Stillman".New York Times. March 17, 1918. RetrievedSeptember 16, 2012.Funeral services for James Stillman, Chairman of the Board of Directors of the National City Bank, who died at his home, 9 East Seventy-second Street, on Friday, will be held tomorrow morning at 10 o'clock at St. Bartholomew's Church, Madison Avenue and Fortyfourth Street.
  7. ^"MRS. STILLMAN LEFT RICHES TO HER KIN; Banker's Widow Deemed Rumrills Needed Money Most, It Is Explained. ESTATE PUT AT $500,000 James A. Stillman, an Executor Gets Two Rings -- His Wife Not Named".The New York Times. December 17, 1925. RetrievedNovember 30, 2016.
  8. ^Stillman, Times Wide World Photo mrs James A. (June 6, 1931)."MRS. J.A. STILLMAN GETS DIVORCE, WEDS FOWLER M'CORMICK; PRINCIPALS IN SURPRISE WEDDING".The New York Times. RetrievedMarch 3, 2017.
  9. ^"C.C. Stillman Dies On Board Aquitania. Benefactor Harvard on Way Home From Europe When He Is Attacked by Appendicitis".The New York Times. August 17, 1926. RetrievedApril 18, 2016.
  10. ^"MRS. C. C. STILLMAN DIES.; Daughter-In-Law of the Late James Stillman -- Long an Invalid".The New York Times. September 25, 1925. RetrievedNovember 30, 2016.
  11. ^"DR. E. G. STILLMAN, RESEAROHIST, DIES; I Staff Member at Rockefellerl 'Institute Hospital Had Aided I Work in Many Fields".The New York Times. December 17, 1949. RetrievedNovember 30, 2016.
  12. ^"Three Strange Coincidences – 21 Dec 1918, Sat • Page 2".The Wall Street Journal: 2. 1918. RetrievedJanuary 3, 2018.Public Domain This article incorporates text from this source, which is in thepublic domain.
  13. ^"James S. Rockefeller, 102, Dies; Was a Banker and a '24 Olympian".New York Times. August 11, 2004. RetrievedSeptember 16, 2012.James Stillman Rockefeller, who helped capture an Olympic rowing title for the United States before a banking career with a company that eventually become Citigroup, died yesterday at his home in Greenwich, Conn., his family announced. He was 102. ...
  14. ^Yazigi, Monique P. (May 31, 1998)."The Whit Stillman Rat Pack".The New York Times.
  15. ^Visser, Auke."C. O. Stillman – (1937–1942)".Auke Visser's International Esso Tankers site. RetrievedApril 29, 2013.
  16. ^Klepper, Michael; Gunther, Michael (1996),The Wealthy 100: From Benjamin Franklin to Bill Gates—A Ranking of the Richest Americans, Past and Present,Secaucus, New Jersey: Carol Publishing Group, p. xi,ISBN 978-0-8065-1800-8,OCLC 33818143

Further reading

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  • John K. Winkler, The First Billion: The Stillmans and the National City Bank (New York: Vanguard, 1934).
  • John Mason Hart, James Stillman. Handbook of Texas Online (http://www.tshaonline.org/handbook/online/articles/fstbp), accessed January 10, 2012. Published by the Texas State Historical Association.

External links

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Business positions
Preceded byPresident/Chairman of National City Bank
1891–1909 (President)
1909–1918 (Chairman)
Succeeded by
International
National
Other
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