Edward Prime (December 10, 1801 – August 21, 1883) was a New York banker who served as president of the

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed c ...

Early life

Prime was born on December 10, 1801 at 54

Wall Street Wall Street is an eight-block-long street in the Financial District of Lower Manhattan in New York City. It runs between Broadway in the west to South Street and the East River in the east. The term "Wall Street" has become a metonym for t ...

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

. He was the eldest son of

Nathaniel Prime Nathaniel Prime (January 30, 1768 – November 26, 1840) was a New York broker and banker. Early life Prime was born in Rowley, Massachusetts on January 30, 1768. He was the son of Joshua Prime and Bridget Hammond Prime. In his early years, h ...

(1768–1840) and Cornelia (

née A birth name is the name of a person given upon birth. The term may be applied to the surname, the given name, or the entire name. Where births are required to be officially registered, the entire name entered onto a birth certificate or birth re ...

Sands) Prime (1773–1852), who married in 1797. Among his sisters was Cornelia Prime (wife of Robert Ray, a brother-in-law of New York Gov.

John Alsop King John Alsop King (January 3, 1788July 7, 1867) was an American politician who was Governor of New York from 1857 to 1858. Life John Alsop King was born in the area now encompassed by New York City on January 3, 1788, to U.S. Senator Rufus King ...

), Emily Prime (wife of

U.S. Navy The United States Navy (USN) is the maritime service branch of the United States Armed Forces and one of the eight uniformed services of the United States. It is the largest and most powerful navy in the world, with the estimated tonnage of ...

Capt. William Seton and son of

Elizabeth Ann Seton Elizabeth Ann Bayley Seton (August 28, 1774 – January 4, 1821) was a Catholic religious sister in the United States and an educator, known as a founder of the country's parochial school system. After her death, she became the first person bo ...

), Matilda Prime (wife of Gerard Holsman Coster), and Laura Prime (wife of

John Clarkson Jay John Clarkson Jay (September 11, 1808 – November 15, 1891) was an American physician and notable conchologist as well as one of the original founders of New York Yacht Club. He was the grandson of Founding Father John Jay. Early life and edu ...

, a son of

Peter A. Jay Peter Augustus Jay (January 24, 1776 – February 20, 1843) was a prominent New York lawyer, politician and the eldest son of Founding Father and first United States Chief Justice John Jay. Early life Peter Augustus Jay was born at Liberty ...

and grandson of

John Jay John Jay (December 12, 1745 – May 17, 1829) was an American statesman, patriot, diplomat, abolitionist, signatory of the Treaty of Paris, and a Founding Father of the United States. He served as the second governor of New York and the first ...

). His maternal grandparents were

Comfort Sands Comfort Sands (February 26, 1748 – September 22, 1834) was an American merchant, banker and politician. Life Comfort Sands was born in Cow Neck, Long Island on February 26, 1748. He was one of eight children born to John Sands (1708–1760) ...

, the merchant, banker and

Continental Congress The Continental Congress was a series of legislative bodies, with some executive function, for thirteen of Britain's colonies in North America, and the newly declared United States just before, during, and after the American Revolutionary War. ...

man, and Elizabeth (née Cornell) Sands. His paternal grandparents were Joshua Prime and Bridget (

Hammond) Prime. Prime was educated at McCulluck's boarding school in

Morristown, New Jersey Morristown () is a town and the county seat of Morris County, in the U.S. state of New Jersey. ...

where his father and other family members were educated.

Career

Five years before his birth, his father organized " Nathaniel Prime, Stock and Commission Broker" which made money buying and selling bank stocks before he opened his own private bank where he allowed customers to deposit money and then loaned it out. In 1808, his father brought Samuel Ward III in as a partner and the firm was renamed Prime & Ward, followed by his uncle Joseph Sands in 1816 when the firm became Prime, Ward & Sands. In 1824, the firm was again reorganized as Prime, Ward, Sands & King when James Gore King became a partner upon his return from England. After Sand's death in 1826, the firm became

Prime, Ward & King Prime, Ward & King was a prominent American investment bank in the 18th and 19th Century based in New York City. History In 1796, Nathaniel Prime organized " Nathaniel Prime, Stock and Commission Broker" at 42 Wall Street where he bought and sold ...

. In 1826, still a young man, Prime entered the firm and was made a partner of Prime, Ward & Co. upon his father's retirement in 1832. His father, in ill health, committed suicide on November 26, 1840, by cutting his throat. The firm collapsed in 1847, and Prime established the firm of Prime & Co., which consisted of him and his four sons, where he worked until his retirement in 1867, at which point his sons also retired.

Philanthropy

Prime was one of the founders of the New York Eye and Ear Dispensary. He was also a vestryman in St. Philip's Church in Manhattan and a warden of Christ Church in Riverdale.

Personal life

On September 18, 1827, he was married to Anne Bard (1804–1834). Anne was the daughter of William Bard, a lawyer who founded the

New York Life Insurance and Trust Company New is an adjective referring to something recently made, discovered, or created. New or NEW may refer to: Music * New, singer of K-pop group The Boyz Albums and EPs * ''New'' (album), by Paul McCartney, 2013 * ''New'' (EP), by Regurgitator, ...

. Anne's younger sister, Susan Bard, was the wife of Edward's first cousin, Ferdinand Sands, both being grandsons of

. Before his first wife's death in 1834, they were the parents of four children: * Cornelia Prime (1829–1869), who married

German German(s) may refer to: * Germany (of or related to) **Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ger ...

-born August Ahrens (1818–1869) in 1850. * Nathaniel Prime (1830–1885), a Brevet

Lieutenant Colonel Lieutenant colonel ( , ) is a rank of commissioned officers in the armies, most marine forces and some air forces of the world, above a major and below a colonel. Several police forces in the United States use the rank of lieutenant colone ...

who died unmarried. * William Bard Prime (1832–1836), who died in infancy. * Edward Prime (b. 1833), who married Annie Rhodes Gilbert (1856–1941), the widow of his younger half-brother in 1889. After the death of his first wife in New York City on October 27, 1834, he married Charlotte Wilkins Hoffman (1808–1892) in 1836. * William Hoffman Prime (1837–1881), who married Anne Rhodes Gilbert in 1879. *Charlotte Prime (1838-1923), who married Leonard J. Wyeth in 1858. * Mary Catherine Prime (b. 1841), who married James A. Scrimper in 1868. * Henry Prime (1847–1914). An avid sportsman, he was said to have been the first to bring a pack of

fox hound A foxhound is a type of large hunting hound bred for strong hunting instincts, a keen sense of smell, and their bark, energy, drive, and speed. In fox hunting, the foxhound's namesake, packs of foxhounds track quarry, followed—usually on hor ...

s to the United States, where he used to "hunt the fox in the woods of

Long Island Long Island is a densely populated island in the southeastern region of the U.S. state of New York (state), New York, part of the New York metropolitan area. With over 8 million people, Long Island is the most populous island in the United Sta ...

." Prime died on August 21, 1883 in Riverdale-on-Hudson, New York. After a funeral at Christ Church in Riverdale, he was buried at

Green-Wood Cemetery Green-Wood Cemetery is a cemetery in the western portion of Brooklyn, New York City. The cemetery is located between South Slope/ Greenwood Heights, Park Slope, Windsor Terrace, Borough Park, Kensington, and Sunset Park, and lies several bl ...

in Brooklyn.

References

External links

* {{DEFAULTSORT:Prime, Edward 1801 births 1883 deaths People from New York (state) American bankers Presidents of the New York Stock Exchange 19th-century American businesspeople Burials at Green-Wood Cemetery People from Riverdale, Bronx