James M. Morrison (1805 – December 20, 1880) was an American banker who worked at the

Bank of the Manhattan Company The Manhattan Company was a New York bank and holding company established on September 1, 1799. The company merged with Chase National Bank in 1955 to form the Chase Manhattan Bank. It is the oldest of the predecessor institutions that eventually ...

for more than forty years as teller, cashier and, finally, president from 1860 to 1879.

Early life

Morrison was born in 1805 to Scotch parents in

New Orleans, Louisiana New Orleans ( , ,New Orleans
Merriam-Webster. ; french: La Nouvelle-Orléans , es, Nuev ...

, where his father had a winter residence. When he was still young, his father, a Louisiana planter, died which led to James and his mother returning to her native city of

Aberdeen Aberdeen (; sco, Aiberdeen ; gd, Obar Dheathain ; la, Aberdonia) is a city in North East Scotland, and is the third most populous city in the country. Aberdeen is one of Scotland's 32 local government council areas (as Aberdeen City), and ...

, Scotland. There, he was "carefully educated according to the rigid methods employed in the schools of that country." In 1825, at the age of 19, Morrison decided to return to the United States to begin his career.

Career

As a clerk in the

United States The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 states, a federal district, five major unincorporated territorie ...

and Merchant's Banks, Morrison became familiar with the banking system. In 1840, he joined the

when it was still located in a brownstone at

40 Wall Street 40 Wall Street, also known as the Trump Building, is a neo-Gothic skyscraper on Wall Street between Nassau and William streets in the Financial District of Manhattan in New York City. Erected in 1929–1930 as the headquarters of the Manhat ...

. He started his more than forty-year career with the Manhattan Company as its first teller, two years later in 1842 he was promoted to

cashier A retail cashier or simply a cashier is a person who handles the cash register at various locations such as the point of sale in a retail store. The most common use of the title is in the retail industry, but this job title is also used in the ...

and, worked "assiduously to improve the stock, which at that time was worth from 45 to 50 cents on the dollar." The board of directors elected him president of the Bank in 1860. According to his obituary in ''

The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid ...

'':

"During the unsettled condition of business affairs which succeeded the
war War is an intense armed conflict between states, governments, societies, or paramilitary groups such as mercenaries, insurgents, and militias. It is generally characterized by extreme violence, destruction, and mortality, using regular o ...
, Mr. Morrison manifested a shrewdness and ability which enabled him to survive the financial crash that ultimately resulted in the suspension of many other banking institutions."

In the latter part of 1879, his health began to decline and he resigned the presidency, although he continued to serve on the board of directors. Morrison was succeeded by John S. Harberger, who died of

malarial fever Malaria is a Mosquito-borne disease, mosquito-borne infectious disease that affects humans and other animals. Malaria causes Signs and symptoms, symptoms that typically include fever, fatigue (medical), tiredness, vomiting, and headaches. In se ...

a year later in October 1880.

Personal life

Morrison was the father of David Mitchell Morrison (b. 1841), who served as president of the Washington Trust Company, and founded the banking firm of Morrison & Putnam. He married Abby Putnam, a daughter of Capt. Nathaniel Putnam of Brooklyn, in 1877. He died on December 20, 1880, at 158 West 23rd Street, his residence in Manhattan. After a funeral at the South Reformed Church at

Fifth Avenue Fifth Avenue is a major and prominent thoroughfare in the borough of Manhattan in New York City. It stretches north from Washington Square Park in Greenwich Village to West 143rd Street in Harlem. It is one of the most expensive shopping stre ...

and 21st Street, he was buried at

Woodlawn Cemetery, Bronx Woodlawn Cemetery is one of the largest cemeteries in New York City and a designated National Historic Landmark. Located south of Woodlawn Heights, Bronx, New York City, it has the character of a rural cemetery. Woodlawn Cemetery opened during th ...

. The pallbearers at his funeral were Samuel Sloan, George D. H. Gillespie, John Sloan, John Harsen Rhoades (a banker), George S. Coe (president of the American Exchange National Bank of New-York), Samuel D. Babcock (president of the

Down Town Association The Down Town Association in the City of New York, usually referred to as the Down Town Association, is a private club in the Financial District of Manhattan, New York City. Located at 60 Pine Street, between William and Pearl Streets, it is t ...

), Jacob D. Vermilye (president of the Merchants' Bank), John A. Stewart, Nathaniel D. Putnam, and B. B. Sherman.

Descendants

Through his son David, he was a grandfather of Abby Morrison, who became a well known singer. After her marriage to William Wood Ricker (and engineer who was president of the Guarantee Construction Company), she was known as Abby Morrison Ricker.

References

{{DEFAULTSORT:Morrison, James M. 1805 births 1880 deaths American people of Scottish descent American bankers American chief executives of financial services companies American corporate directors Businesspeople from New Orleans 19th-century American businesspeople