John B. Yale
John Brooks Yale (1845 – 1904) was an American
Yale's company would be bankrupted by
Early life
John Brooks Yale was born on October 26, 1845, in
Yale was educated at
He was also assistant sales agent to his brother,
In 1871, Yale is named of the trustees of the
Bankers and Merchants Telegraph Co.
The Bankers and Merchants
They kept both companies as separated entities, but under the same president and general manager, with Yale being the companies's treasurer and board director.
They initially had their office at 26
In 1883, Yale founded with his brother,
In 1884, Yale joined the retail business Nave & McCord Mercantile Company of millionaire Nave McCord.[25][26] He then became board director, secretary and treasurer of the Bankers and Merchants Telegraph Company, along with vice president John Rogers Hegeman, who was also president of MetLife Co., seated at the Metropolitan Life Insurance Company Tower in Manhattan.[27][28][29][30][31] They added various lines connecting to Detroit, Indianapolis, Cincinnati and St. Louis, and in 1884, they acquired and took control of the telegraph lines of the Chicago Board of Trade, operating in the landmarked Chicago Board of Trade Building.[16]
Commercial Telegram Co.
In February 1884, they acquired the Lehigh Telegraph line, adding 300 miles and 90 new offices in
In April 1884, Yale was elected Secretary of the Bankers and Merchants Telegraph Co., and the company had now 6,697 miles of poles, and 46,347 miles of wire, connecting New York all the way to the
The stock ticker was a
The company then issued, with the
Yale's company was defended by lawyer
Bankers and Merchants vs Western Union
During the night of the 10th of July, 1885, General Eckert of the
This unlawful act broke the communication lines of their everyday customers between
The Bankers and Merchants Co. had 2 million dollars invested in the American Rapid Company, and the company's
The
The
Later career
The company owed Yale about $300,000 in 1885 as one of its trustees and shareholders, or about 650 million dollars in 2024 money in relation to GDP.[55][16] The amount owed would raise to over $600,000 in 1900.[60] The Bankers and Merchant's initial capital stock in 1881 was at 3 million, the American Rapid at 4, and the Postal Telegraph Co. at 21.[57] Yale's company had initially 4,000 miles of lines and 23,200 miles of wires, with debt of about 7,5 million.[57] By 1884, they had 5,000 miles of poles, 64,000 miles of wires, 400 offices, an interest in a stock exchange, the control of a telephone company, and had plans for ocean cable lines.[16] The company eventually controlled about 10,000 miles of poles, and 100,000 miles of wire.[16] The chairman of the company was Congressman Dwight Townsend, while Western Union's president was Norvin Green, serving under controlling shareholder Jay Gould, the robber baron of Lyndhurst Castle.[18][16]
In 1890, Yale became a board director and trustee of the Pneumatic Dynamite Gun Company under president Spencer D.
They had 1.1 million dollars in capital stock and obtained contracts from the US government to equip the
Personal life
Yale married to Marie Louise McCulloch, daughter of millionaire banker
Yale's brother-in-law, banker Charles McCulloch, became president of the Hamilton National bank, and lived at the McColloch mansion in Fort Wayne.[77][78] Yale's mother-in-law died at his home in Sparkill, New York, and he himself died at the same place on August 28, 1904, at 58 years old.[1][7][2][79][80] Mrs. McCulloch was a grandniece of Naphtali Daggett, President of Yale College, and a family member of Gen. Moores, Gen. Melanchton Woolsey, Congressman Jonas Platt, and Alida Livingston, of the Schuyler and Livingston families.[81][82]
Yale had one daughter named Mattiray Yale, and the family lived on
References
- ^ a b c d e The Sun, 30 Aug 1904, Tue ·Page 3
- ^ a b c Boston Evening Transcript, 30 Aug 1904, Tue ·Page 5
- ^ a b c Rodney Horace Yale (1908). "Yale genealogy and history of Wales. The British kings and princes. Life of Owen Glyndwr. Biographies of Governor Elihu Yale". Archive.org. Milburn and Scott company. pp. 442–554.
- ^ Transcript-Telegram, 26 Mar 1900, Mon ·Page 2
- ISBN 978-0-387-89668-7. Retrieved November 30, 2022.
- ^ I Have Pretty Work : Madeline Yale Wynne and the American Craft Revival, Early American Culture, University of Delaware, Jessica H. Beels, 1995, p.13
- ^ a b c "American Machinist". September 8, 1904. Retrieved March 3, 2024.
- ^ Directory to the Iron and Steel Works of the United States, American Iron and Steel Association, University of Michigan, 1892, p. 172
- ^ Linus Yale Papers (MS 872). Manuscripts and Archives, Yale University Library, Accessed March 03, 2024, See more section.
- ^ The Yale Lock Picked, October 16, 1869, Vol. 9, No. 225, p. 484
- ^ Hartford Courant, 11 Dec 1869, Sat ·Page 4
- ISBN 9780816045594.
- ^ White & Kembles Atlas and Digest of Railroad Mortgages, Railsandtrails.com, p. 3, Accessed March 2, 2024
- ^ Railroad Age Gazette, Volume 6, August, 1874, p. 296
- ^ Railroad Age Gazette, Volume 6, August 1, 1874, p. 297
- ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa The Electrician and Electrical Engineer, Volumes 3 to 4, August, 1885, p. 38-68-108-113-119-135-149-227-228-281-314-315-316-317-330-375-376
- ^ Detroit Free Press, 17 Apr 1881, Sun ·Page 2
- ^ a b c d e f g h i j k l m n o p John G. Farnsworth, Receiver of the Bankers' and Merchants' Telegraph Co., Robert Green Ingersoll, Opening Speech to the Jury, New York, May 21, 1886, p. 1-40
- ^ a b c d e f g The Operator Book, Supplement to the Operator and Electrical World, Vol. 13, W. J. Johnston, New York, January 13, 1883, p. 50-59-227-369-689
- ^ History of Chicago; From the fire of 1871 until 1885, Alfred Theodore Andreas, Volume III, A. T. Andrewas Co., Chicago, 1886, p. 594
- ^ Andrews, J. Cutler. “The Southern Telegraph Company, 1861-1865: A Chapter in the History of Wartime Communication.” The Journal of Southern History, vol. 30, no. 3, 1964, pp. 319–44. JSTOR, Accessed 2 Mar. 2024.
- ^ a b Detroit Free Press, 23 Oct 1883, Tue ·Page 1
- ^ a b Detroit Free Press, 17 Nov 1883, Sat ·Page 2
- ^ St. Louis Globe-Democrat, 12 Oct 1883, Fri ·Page 1
- ^ The Beatrice Daily Express, 24 Jun 1898, Fri ·Page 3
- ^ St. Joseph Gazette, 01 Jan 1884, Tue ·Page 4
- ^ The New York Supplement, Vol. 39, West Publishing Co., New York, June 4-July 23, 1896, p. 503
- ^ New York Court of Appeals. Records and Briefs, New York (State). Court of Appeals, 1884, p. 1266
- ^ Reports of Cases, Appellate Division of the Supreme Court of the State of New York, Marcus T. Hun, Volume IV, Banks & Brothers, Albany, New York, 1896, p. 305-306-307-623
- ^ New York Supreme Court, First Judicial Department, Francis E. Parker, Burgoyne's Quick Printing House, New York, 1886, p. 22-55
- ^ a b Chicago Tribune, 12 Feb 1884, Tue ·Page 8
- ^ The Boston Globe, 15 Jan 1886, Fri ·Page 2
- ^ a b Boston Evening Transcript, 29 Feb 1884, Fri ·Page 8
- ^ a b New-York Tribune, 17 Jan 1884, Thu ·Page 2
- ^ The Independent-Record, 28 May 1891, Thu ·Page 4
- ^ a b Boston Evening Transcript, 29 Feb 1884, Fri ·Page 8
- ^ The Boston Globe, 05 Apr 1884, Sat ·Page 5
- ^ Evening Gazette, 05 Apr 1884, Sat ·Page 1
- ^ St. Louis Globe-Democrat, 13 Feb 1884, Wed ·Page 12
- ^ Chicago Tribune, 23 Sep 1884, Tue ·Page 5
- ^ a b c Wall Street, 1889: The Telegraph Ramps Up Trading Speed, The Wall Street Journal, July 7, 2014
- ^ of Thomas Alva Edison, Inventing Entertainment: The Early Motion Pictures and Sound Recordings of the Edison Companies, Library of Congress, Accessed March 2, 2024
- ^ Handel, John. "The Material Politics of Finance: The Ticker Tape and the London Stock Exchange, 1860s–1890s." Enterprise & Society, vol. 23 no. 3, 2022, p. 857-887. Project MUSE
- ^ The New York Stock Exchange : its History, its Contribution to National Prosperity, Stock Exchange Historical Company, Boston College, New York, 1905, p. 318
- ^ History of Crises Under the National Banking System, Sprague, O. M. W, Government Printing Office, Washington, 1910, p. 112
- ^ Gen. John G. Farnsworth, Landmarks of Albany County, New York, edited by Amasa J. Parker of Albany, N. Y., Syracuse, N. Y.; D. Mason & Co. Publishers, 1897.
- ^ Portage Daily Democrat, 22 May 1886, Sat ·Page 1
- ^ Telegraph And Telephone Age: Telegraphy-Telephony-Radio, University of Illinois, Americana, New York, 1917, p. 3
- ^ The American Rapid Telegraph Company, Western Union Telegraph Company, Princeton University, Major & Knapp Engraving Co., New York, 1879, p. 4
- ^ The Saint Paul Globe, 28 Apr 1884, Mon ·Page 8
- ^ The Boston Globe, 20 Jan 1885, Tue ·Page 1
- ISBN 978-0-19-974120-5.
- ^ Guide to the Western Union Telegraph Company Records, Robert Harding, Smithsonian, National Museum of American History, Kenneth E. Behring Center, Washington, D.C., 1986, p. 5
- ^ Mr. Vanderbilt Resigns; No Longer Interested in Telegraph Stocks, The New York Times, March 27, 1881
- ^ a b "Seven Ways to Compute the Relative Value of a U.S. Dollar Amount - 1790 to Present". MeasuringWorth.com.
- ^ The Bankrupt Telegraph Company, The New York Times, October 8, 1884
- ^ a b c An American Almanac and Treasury of Facts, Ainsworth Rand Spofford, Volume 11, American News Co., 1888, p. 41
- ^ The Journal Times, 18 Jul 1884, Fri ·Page 1
- ^ The Mining Millionaire Americans Couldn’t Help But Love, Smithsonian Magazine, Gregory Crouch, June 6, 2018
- ^ Chicago Tribune, 11 Feb 1900, Sun ·Page 5
- ^ Schuyler Genealogy: The Schuyler families in America Prior to 1900, Florence A. Christoph, Friends of Schuyler Mansion, 1987, p. 283
- ^ a b The Brooklyn Daily Eagle, 05 Jul 1891, Sun ·Page 3
- ^ a b c d Poughkeepsie Eagle-News, 09 Jul 1890, Wed ·Page 6
- ^ The Denver Press, Volume XIX, Number 16, July 11, 1890, p. 2
- ^ The Day, 09 Jul 1890, Wed ·Page 1
- ^ New-York Tribune, 26 Jan 1897, Tue ·Page 3
- ^ a b The Wall Street Journal, 09 Jun 1897, Wed ·Page 2
- ^ Railway Age and Northwestern Railroad, Volume 23, January, 1897, p. 57-110
- ^ The Berkshire County Eagle, 08 Dec 1897, Wed ·Page 7
- ^ a b c MRS. M'CULLOCH'S RECEPTION, The New York Times, January 4, 1885
- ^ McCulloch, Hugh (1889). Men and measures of half a century; sketches and commments, New York, C. Scribner's son, Americana, p. 222
- ^ The Fort Wayne Sentinel, 27 Nov 1905, Mon ·Page 5
- ^ Letter of 19 December 1900 in McCulloch manuscript collection, Lilly Library, Indiana University, Bloomington.
- ^ St. Louis Globe-Democrat, 02 Jan 1885, Fri ·Page 4
- ^ The Herald Statesman, 23 Sep 1903, Wed ·Page 4
- ^ Evening star, 10 Nov 1900, Sat ·Page 5
- ^ The Fort Wayne Sentinel, 29 Aug 1904, Mon ·Page 1
- ^ The Fort Wayne Sentinel, Fort Wayne, Indiana, Tue, Dec 20, 1904, Page 9
- ^ The Fort Wayne Sentinel, 29 Aug 1904, Mon ·Page 1
- ^ The Times, 28 Jul 1898, Thu ·Page 3
- ^ The Times, 27 Jul 1898, Wed ·Page 5
- ^ Memories-Recollections of Susan Man McCulloch 1818-1898, McCulloch, Susan Maria (Man), 1818-1898, Recollections, Allen County-Fort Wayne Historical Society, 1898
- ^ Fort Worth Star-Telegram, 03 May 1914, Sun ·Page 26
- ^ The Union League Club of New York, Annual Reports, Club House, New York, January, 1878, p. 3-4-59
- ^ The Union League Club of New York, The Club-house, University of Michigan, 1905, page 80-121.