Morris Ketchum Jesup

Morris Ketchum Jesup ( born June 21, 1830 in Westport, Connecticut, † January 22, 1908 in New York ) was an American banker ( Cuyler, Morgan & Jesup ) and philanthropist.

The Early Years

He was born as the fifth child of Charles Jesup and Abigail Sherwood. He had nine siblings, seven brothers and two sisters. But only his brother Richard reached his age of 30, while the other siblings died of consumption (tuberculosis ). His parents were Puritans.

When Morris was 7 years old, swept the Panic of 1837 across the country and his father's fortune was lost, as well as a considerable part of the money that had inherited from her father, Judge Sherwood his mother. In the same year his father, who had become only 42 years old died suddenly. Now the mother stood there alone. For a time the help of her father accepted, but then won their will for independence and she went with her children by steamer on to New York. They found a home in 39, New Bond street, where they lived for over 10 years. When the house had to give way, Morris was able to give his mother a house.

The school education had to be kept to a minimum and with 12 years he worked at the company Robert, Ketchum & Grosvenor, locomotives and machinery for cotton manufactured. The point he owed Mr. Morris Ketchum, a friend of his father. His responsibilities unfortunately did not grow with years, but his salary. In the 12 years his salary was still $ 600 and he was unhappy. Unfortunately, he had no money for a private business remains, because he gave everything to his mother money. Soon a possibility offered by his brother Frederick, who worked as a cashier in the bank of " Ketchum, Robert and Bement ," he met the accountant Mr. Charles Clark know. They opened the company " Clark and Jesup ", with the former earning the capital and worked in the office and Jesup made ​​the field. When everything has settled, he announced in 1852 his place at Grosvenor. After the surprise had subsided, Mr. Grosvenor offered him his help. He introduced him to the Union Bank in Wall Street before and opened an account in Morris names, vouched for. Later, when the company Robert, Ketchum & Grosvenor was to Rogers Locomotive works, Morris was offered the position of vice president offered that he accepted also. With Mr. Grosvenor he formed a friendship until his death in 1853.

Merchant and banker

Together with the Scotsman John S. Kennedy, he founded the company in 1857. " K. Jesup & Company " with no office. 44 Exchange Place, which gave everything for the railroad, as well. wie.ihre company Clark & ​​Jessup, the. their offices in No 139 Pearl Street had. At that time was the only boat connection with the Cunard Line from Boston who went every 2 weeks over Halifax. Jesup had a request from the Chicago & Missippi Railroad for railroad tracks by the company Crashay in Cardiff, Wales, the largest manufacturer. He went with his brother Arthur with the SS "Europa" on the journey to Wales and was the business for the required tracks to complete. They had become the middleman between the manufacturer and the railway line.

The acquaintance with men from the railway on both sides of the Atlantic had brought them insight into the problems of railway building, and they began to trade with both raw materials as well as collateral.

Mr. Kennedy, who was originally supposed to remain in Glasgow, came to Chicago, where he received a 1861-62 under the name opened the branch " Jesup, Kennedy & Adams ". Mr. John Macgregor Adams has previously worked as a representative. Mr. John Crear took over management of the company. The partnership with Mr. Kennedy was over 10 years until 1867, when Kennedy started his own company. 1870 joined Mr. John Paton in the company, and the name changed to ' " M. K. Jesup, Paton & Company ". Later Jesups nephew, Mr. Cornelius C. Cuyler came into the company. After the death of Mr. Paton changed the company name to " Cuyler, Morgan and Company ."

After his retirement in 1884, however, Jesup remained partners in the company.

Ketchum was known as a financier far and 1884 he retired from active business in order to devote himself to his various volunteer activities.

The Benefactor

And 1899 of the Chamber of Commerce of New York (New York Chamber of Commerce).

He was considered a benevolent and largely financed the Arctic expeditions of Robert Edwin Peary - 1897 he had become president of the Artic Club - and the Jesup North Pacific Expedition, under the direction of Franz Boas. According to him, Cape Morris Jesup was named Greenland.

He gave the

• Metropolitan Museum of Art with a collection of native wood species was estimated to be $ 100,000 of;
• The Yale Divinity School ( Theological Seminary ) with $ 51,000;
• The Woman's Hospital in New York City, $ 100,000;
• Yale University, he bequeathed the Landbery Arabic MSS ( manuscripts ), for which he paid $ 20,000. ;
• And the Williams College $ 35,000

He was treasurer of the Slater Fund in its infancy, and he is also a member of both the Peabody Educational Board and the General Education Board. Thus he got connection to the Tuskegee Institute and George Washington Carver, which he financed a horse-drawn carriage, as mobile object lesson.

Jesup married on April 26, 1854 Maria van Antwerp DeWitt Jesup ( 1834-1914 ), a library donated after his death the town of Bar Harbor in memory of her husband and the Metropolitan Museum, New York, as a gift from her a large and valuable collection of paintings bequeathed.