James Segliman Story

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James Segliman Story - the are the on surviving members of a fam RAN...
the are the on surviving members of a fam RAN 40 UP TO MILLIONS New Tork Tribune VMES SELIOMAN on the eve of his eighty ninth birthday is a gentle old man in the full possession of his mentality and possessed also of a sweetness not ordinarily associated with captains of finance and industry He and his brother Isaac now 77 years old and living ln London y of w d the only surviving original partners of the famous banking house of J T Seligman Co which cem - tt e61 UIU - nr mis rejnarK abe amllv The aged banker after some persuasion consented to tell ln his quiet aim pie way the hlghiv human story of his career and those of his brothers and sisters so lnextrcabbj linked with his for the eight brothers were at the same time in charge of the various banking houses ln New Tork London Parts Frankfort and San Francisco and like the RothSChild famllv all hA n Minal c which Interest in the profits of all the flrma Mr Seligman said j WM born ln lg24 ffl BjjQf q - - - T - 4 01l and my mothers name before her marriage was Fannie Stelnhart My mother was a hard - working woman She conducted a store Independently of my father who was a woolen merchant and looked after the home and all the chll - l dren as well I was the third oldest son and the fourth oldest child ln a family of 11 My parents sent me to the vfllage school every school day except the Sabbath until I was 11 years old Ther then decided I was old enough - to learn a trade and they sent me to Floss 100 miles from home to live with my mother s sister and learn the weavers trade from my uncle I spent several yeara with my uncle and aunt and then returned to Balersdorf where I got employment as a weaver I can remember that when I was 9 ears old two wagon loads of people left I Balersdorf to take the shlpfor America M parents sent my oldest brother Jo - 1 seph who wasr19 years old then with I them giving him 100 He went directly to Pennsylvania and became a cashier in a coal mine with a salary of 400 a vear In the spring of 1839 my mother gave me and my brother ft Illiam 40 each i sewed in bags and tied around our waists under our clothes with which to J go to America The trip to Bremen took two weeks We stopped at hotels on the for which we had to w TheTere 400 passengers on the sailing vessel we took at Bremen each one of whom was charged 40 for his passage We slept seven on one cot in the steerage The passage took 60 days It makes me sick to think of it Is it any wonder that I marvel at the Mauretanla s record One man among us had the smallpox and 25 caught It from him I among them On the Four h of July 1839 when we landed I was left In the hospital on the Island while my brother William went on to Penns lvania where Joseph got him a Job ln a store I was over the worst of the rash b that time The doctor gave me a dose of castor oil which was so bad that I have tasted it ever since The next day he found me much better and allowed me to leave I still had some money and also untouched the 40 sewed ln a bag under m clothes I went straight to Mauch Chunk Penn U hen we met and compared notes continued Mr Seligman I found I h4 g0d twlce much M wmiam and WH llam Twlc as mucn as JosePn anQ Jtss Pnt together We decided to continue A few years later the brothers estab - l8hed SiS Str at d Ltah Ala Later still the sold out and carae North establishing Other Stores in t0 tart Ue ueer children in school St Louis and Ratertown N T Their mother died ln 1841 and the year follow ing the brought the rest of the family to America with the exception of the father who came the next ear The rented half a houe downtown in iw York where the oldest sister Babette reigned while James remained home long enough In 1846 Sister Babette married said the aged banker W e were worth then 8 000 e gave her half of our fortune 1000 in cah and three notes for 1000 The next ear Poalie anothei sister married and we gave her 2 000 In 1846 Joseph and I planned to open another business and we went to Europe Joe got married over there and we brought his wife back with us Thus we comb ned business ajd pleasure O hen tie go d fever broke out It at tacked V d am Jese Henry Abraham and Leopld all of whom went to Call fornla anfl opened a branch of J A TV elign an Co which had alread been I established at No 1 Beekman street as an importing fiim The brothers pros leied ln both cities and when the Civil Wdi iame alonfc they got contracts from the Government foi suppling the Lnlon tioops wi h umturmb which netted them million t the cloe of the war they became bankeis opening their different hou es hen and abroad fiom eai to eat It was om idea few days ago Mr Seligman went on to elect a building of our own it No 1 William street whiUi is a fitting 1 ome for J V Seligman Co ln the boaidroom there my grand children ma see the portraits of the eight Seligman brothers I trust their lives mav serve as an Inspiration to all of them What we have done others may do James Seligman f one of the oldest members of the New York Exchange and is President nf thp Temple Emanu CI tiis wife dpd some vears ago He ha six children twelve grandchildren and one great grandchild The birthdav to da will be celebrated quietly at the florae of one of s daugh terv

Clipped from
  1. The Washington Post,
  2. 21 Apr 1912, Sun,
  3. Page 4

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