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Big Jim Fisk
James Fisk Jr. (April 1, 1835 – January 7, 1872), known variously as "Big Jim", "Diamond Jim", and "Jubilee Jim" – was an American stockbroker and corporate executive who has been referred to as one of the " robber barons" of the Gilded Age. Though Fisk was admired by the working class of New York and the Erie Railroad, he achieved much ill-fame for his role in Black Friday in 1869, where he and his partner Jay Gould befriended the unsuspecting President Ulysses S. Grant in an attempt to use the President's good name in a scheme to corner the gold market in New York City. Several years later Fisk was murdered by a disgruntled business associate. Early life and career Fisk was born in the hamlet of Pownal, Vermont, in Bennington County in 1835. After a brief period in school, he ran away in 1850 and joined Van Amberg's Mammoth Circus & Menagerie. Later, he became a hotel waiter, and finally adopted the business of his father, a peddler. He applied what he learned in the c ...
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Pownal, Vermont
Pownal is a New England town, town in Bennington County, Vermont, Bennington County, Vermont, United States. As of the 2020 United States Census, 2020 census, the town population was 3,258. The town of Pownal includes the villages of Pownal (CDP), Vermont, Pownal, North Pownal, Vermont, North Pownal, and Pownal Center, Vermont, Pownal Center. History During the Woodland period, the area was settled by the Mahican people, with others, such as the Mohawk nation, Mohawks, traveling across it. By the late 17th century, Europeans may have entered the area as a result of the establishment of the Dutch patroonship owned by Kiliaen van Rensselaer (merchant), Kiliaen van Rensselaer, the Manor of Rensselaerswyck, which extended west and east out of Albany, New York, Albany and the fur trading community of Beverwyck. The southwestern corner of Pownal was part of the patroonship. Rensselaerswyck passed into English control in 1664. The first European settlers may have entered the area in the 1 ...
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American Civil War
The American Civil War (April 12, 1861 – May 26, 1865; also known by other names) was a civil war in the United States. It was fought between the Union ("the North") and the Confederacy ("the South"), the latter formed by states that had seceded. The central cause of the war was the dispute over whether slavery would be permitted to expand into the western territories, leading to more slave states, or be prevented from doing so, which was widely believed would place slavery on a course of ultimate extinction. Decades of political controversy over slavery were brought to a head by the victory in the 1860 U.S. presidential election of Abraham Lincoln, who opposed slavery's expansion into the west. An initial seven southern slave states responded to Lincoln's victory by seceding from the United States and, in 1861, forming the Confederacy. The Confederacy seized U.S. forts and other federal assets within their borders. Led by Confederate President Jefferson Davis, ...
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Grand Central Hotel
The Grand Central Hotel, later renamed the Broadway Central Hotel, was a hotel at 673 Broadway, New York City, that was famous as the site of the murder of financier James Fisk in 1872 by Edward S. Stokes. The hotel collapsed on August 3, 1973, killing four residents and injuring at least twelve. History This hotel, which opened in 1870, was designed by Henry Engelbert, and was commissioned by Elias S. Higgins, a local carpet manufacturer. The hotel's facade was reminiscent of Engelbert's Grand Hotel on Broadway and West 31st Street, which was also commissioned by Higgins. Both of these hotels by Engelbert were characterized by elaborate mansards with dormers in the French Second Empire style, although the Grand Central Hotel was clearly the larger and more elaborate of the two. THE LARGEST HOTEL IN AMERICA Few people who pass through Broadway are aware that on that bustling thoroughfare, between Amity and Bleecker streets, there is now in course of erection, on the site of ...
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Springfield, Massachusetts
Springfield is a city in the Commonwealth of Massachusetts, United States, and the seat of Hampden County. Springfield sits on the eastern bank of the Connecticut River near its confluence with three rivers: the western Westfield River, the eastern Chicopee River, and the eastern Mill River. At the 2020 census, the city's population was 155,929, making it the third-largest city in Massachusetts, the fourth-most populous city in New England after Boston, Worcester, and Providence, and the 12th-most populous in the Northeastern United States. Metropolitan Springfield, as one of two metropolitan areas in Massachusetts (the other being Greater Boston), had a population of 699,162 in 2020. Springfield was founded in 1636, the first Springfield in the New World. In the late 1700s, during the American Revolution, Springfield was designated by George Washington as the site of the Springfield Armory because of its central location. Subsequently it was the site of Shays' Rebellio ...
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Edward Stiles Stokes
Edward Stiles Stokes (April 27, 1841 -– November 2, 1901) was the owner of a New York oil refinery. In 1872, he shot and killed his business partner and love rival James Fisk. Stokes was tried three times and found guilty of manslaughter in the third degree, serving four years in prison. Later he became the proprietor of the fashionable Hoffman House Hotel. Early life His father was Edward Halesworth Stokes, who had owned a New York cloth business.The cloth business was in partnership with his brother James Boulter Stokes and had been started by their father, Thomas Stokes, who had arrived from England in about 1798. By 1838 the father had made sufficient money to retire and move with his wife, Nancy Stiles, to Philadelphia.Nancy Stiles was from Philadelphia and descended from Richard Stockton, lieutenant in 1665 of the Long Island Troop of Horse Their son, Edward Stiles Stokes, was born on April 27, 1840. He was educated in Philadelphia and later New York before starting bu ...
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Josie Mansfield
Helen Josephine Mansfield (December 15, 1847 – October 27, 1931) – known as "Josie" – was an American woman who became famous when one of her two wealthy lovers murdered the other. Early life Mansfield was a descendant of many colonial families of Massachusetts, most notably John Alden, and was a distant cousin of Frank Gannett. She was born in 1847 on Kingston Street in Boston, Massachusetts, the first and only child of Sarah H. Gannett Mansfield and Joseph Mansfield, who had both been employed at the ''Boston Transcript''. When Josie Mansfield was about three months old, her parents moved to a boarding house at 13 Lincoln St. They later moved to 15 Crescent Place, where they lived for six months. In 1849 or 1850, Joseph Mansfield joined the California gold rush. On August 12, 1850, the U.S. Census shows Josie Mansfield, 3, living in Boston Ward 8 with her uncle, Charles H. Mansfield, 26, her grandmother Caroline Mansfield, 50, and her aunt Caroline Mansfield, 19. The a ...
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Cornering The Market
In finance, cornering the market consists of obtaining sufficient control of a particular stock, commodity, or other asset in an attempt to manipulate the market price. One definition of cornering a market is "having the greatest market share in a particular industry without having a monopoly". Companies that have cornered their markets have usually done so in an attempt to gain greater leeway in their decisions; for example, they may desire to charge higher prices for their products without fears of losing too much business. The cornerer hopes to gain control of enough of the supply of the commodity to be able to set the price for it. Strategy and risks Cornering a market can be attempted through several mechanisms. The most direct strategy is to buy a large percentage of the available commodity offered for sale in some spot market and hoard it. With the advent of futures trading, a cornerer may buy a large number of futures contracts on a commodity and then sell them at a profi ...
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State Legislature (United States)
A state legislature in the United States is the legislative body of any of the 50 U.S. states. The formal name varies from state to state. In 27 states, the legislature is simply called the ''Legislature'' or the ''State Legislature'', while in 19 states the legislature is called the ''General Assembly''. In Massachusetts and New Hampshire, the legislature is called the ''General Court'', while North Dakota and Oregon designate the legislature the ''Legislative Assembly''. Composition Every state except Nebraska has a bicameral legislature, meaning that the legislature consists of two separate legislative chambers or houses. In each case the smaller chamber is called the Senate and is usually referred to as the upper house. This chamber typically, but not always, has the exclusive power to confirm appointments made by the governor and to try articles of impeachment. (In a few states, a separate Executive Council, composed of members elected from large districts, performs th ...
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Boss Tweed
William Magear Tweed (April 3, 1823 – April 12, 1878), often erroneously referred to as William "Marcy" Tweed (see below), and widely known as "Boss" Tweed, was an American politician most notable for being the political boss of Tammany Hall, the Democratic Party's political machine that played a major role in the politics of 19th-century New York City and state. At the height of his influence, Tweed was the third-largest landowner in New York City, a director of the Erie Railroad, a director of the Tenth National Bank, a director of the New-York Printing Company, the proprietor of the Metropolitan Hotel, a significant stockholder in iron mines and gas companies, a board member of the Harlem Gas Light Company, a board member of the Third Avenue Railway Company, a board member of the Brooklyn Bridge Company, and the president of the Guardian Savings Bank. Tweed was elected to the United States House of Representatives in 1852 and the New York County Board of Supervisor ...
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Cornelius Vanderbilt
Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), nicknamed "the Commodore", was an American business magnate who built his wealth in railroads and shipping. After working with his father's business, Vanderbilt worked his way into leadership positions in the inland water trading, water trade and invested in the rapidly growing railroad industry, effectively transforming the geography of the United States. As one of the List of richest Americans in history, richest Americans in history and List of wealthiest historical figures, wealthiest figures overall, Vanderbilt was the patriarch of the wealthy and influential Vanderbilt family. He provided the initial gift to found Vanderbilt University in Nashville, Tennessee. According to historian H. Roger Grant: "Contemporaries, too, often hated or feared Vanderbilt or at least considered him an unmannered brute. While Vanderbilt could be a rascal, combative and cunning, he was much more a builder than a wrecker [...] being hono ...
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Erie War
The Erie War was a 19th-century conflict between American financiers for control of the Erie Railway Company, which owned and operated the Erie Railroad. Built with public funds raised by taxation and on land donated by public officials and private developers, by the middle of the 1850s the railroad was mismanaged and heavily in debt. A cattle drover turned Wall Street banker and broker, Daniel Drew, at first loaned $2 million to the railroad, and then acquired control over it. He amassed a fortune by skillfully manipulating the Erie railroad shares on the New York Stock Exchange. Cornelius Vanderbilt, who set his mind on building a railroad empire, saw multiple business and financial opportunities in railways and decided in 1866 to corner the market on Erie by silently scooping-up the Erie railroad stock. After succeeding, Vanderbilt permitted Drew to stay on the board of directors in his former capacity as treasurer.Myers, Gustavus. ''History of the Great American Fortunes''. Vo ...
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Daniel Drew
Daniel Drew (July 29, 1797 – September 18, 1879) was an American businessman, steamship and railroad developer, and financier. Summarizing his life, Henry Clews wrote: "Of all the great operators of Wall Street ... Daniel Drew furnishes the most remarkable instance of immense and long-continued success, followed by utter failure and hopeless bankruptcy". Biography Drew was born in Carmel, New York, in the family of Gilbert Drew and Catherine Muckleworth. He was poorly educated and saw hardship after his father, who owned a small cattle farm, died when Daniel was fifteen years old. Drew enlisted in the US Army during the War of 1812 but he did not see combat. After the war, he spent some time with a traveling zoo and then built a successful cattle-droving business. In 1820, he moved to New York City, where he established himself at the Bull's Head Tavern in the Bowery, a place frequented by drovers and butchers doing business in the city. While running the tavern, he formed ...
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