Hudson Car Co. issued to Moses Taylor - Stock CertificateInv# AG1660
Stock issued to but not signed by Moses Taylor.
Moses Taylor (January 11, 1806 – May 23, 1882) was a 19th-century New York merchant and banker and one of the wealthiest men of that century. At his death, his estate was reported to be worth $70 million, or about $1.9 billion in today's dollars. He controlled the National City Bank of New York (later to become Citibank), the Delaware, Lackawanna & Western railroad, and the Moses Taylor & Co. import business, and he held numerous other investments in railroads and industry.
Taylor was born on January 11, 1806 to Jacob B. Taylor and Martha (née Brant) Taylor. His father was a close associate of John Jacob Astor and acted as his agent by purchasing New York real estate while concealing Astor's interest. Astor's relationship with the Taylor family provided Moses with an early advantage.
At age 15, Moses Taylor began working at J. D. Brown shippers. He soon moved to a clerk's position in the firm of Gardiner Greene Howland and Samuel Howland's firm G. G. & S. Howland Company of New York, a shipping and import firm that traded with South America.
By 1832, at age 26, Moses had sufficient wealth to marry, leave the Howland company, and start his own business as a sugar broker. As such he dealt with slave-owning Cuban sugar growers, found buyers for their product, exchanged currency, and advised and assisted them with their investments. He nurtured relationships with those slave-owners, who relied on him for loans and investments to support their plantations. Taylor never visited Cuba, but his friendship with Henry Augustus Coit, a prominent trader who was fluent in Spanish, enabled him to trade with the Cuban growers. Taylor soon discovered that loans and investments provided returns that were as good as, or better than, those from the sugar business, although the sugar trade remained a core source of income. By the 1840s his income was largely from interest and investments. By 1847, Moses Taylor was listed as one of New York City's 25 millionaires.
When the Panic of 1837 allowed Astor to take over what was then City Bank of New York (today known as Citibank), he named Moses Taylor as director. Moses himself had doubled his fortune during the panic, and brought his growing financial connections to the bank. He acquired equity in the bank and in 1855 became its president, operating it largely in support of his and his associates' businesses and investments.
In the 1850s Moses invested in iron and coal, and began purchasing interest in the Delaware, Lackawanna & Western railroad. When the Panic of 1857 brought the railroad to the brink of bankruptcy, Moses obtained control by purchasing its outstanding shares for $5 a share. Within seven years the shares became worth $240, and the D. L. & W was one of the premier railroads of the country. By 1865 Moses held 20,000 shares worth almost $50 million.
Moses held an interest in the New York, Newfoundland, and London Telegraph Company that Cyrus West Field had founded in 1854. Although its attempts to lay a cable across the Atlantic were initially unsuccessful, it eventually succeeded and in 1866 became the first transatlantic telegraph company.
Taylor also had controlling interest in the largest two of the seven gas companies in Manhattan that were merged (after his death) to form the Consolidated Gas Company in 1884, eventually becoming Consolidated Edison. Taylor's Manhattan Gas Company and New York Gas Light Company were 45% of the merged Consolidated Gas, and his descendants remained some the largest individual shareholders of Consolidated Edison.
After the Civil War, during which he assisted the Union with financing the war debt, he continued to invest in iron, railroads, and real estate. His real estate holdings in New York brought him into close association with Boss Tweed of New York's Tammany Hall. Moses sat in 1871 on a committee made up of New York's most influential and successful businessmen and signed his name to a report that commended Tweed's controller for his honesty and integrity. This report was considered a notorious whitewash.
Taylor was married to Catharine Anne Wilson (1810–1892). Together, they were the parents of:
- Albertina Shelton Taylor (1833–1900), who married Percy Rivington Pyne (1820–1895) in 1855. Pyne, an assistant to Moses, became president of City Bank upon Moses' death.
- Mary Taylor (1837–1907), who married George Lewis (1833–1888)
- George Campbell Taylor (1837–1907)
- Katherine Wilson Taylor (1839–1925), who married Robert Winthrop
- Henry Augustus Coit Taylor (1841–1921), who married Charlotte Talbot Fearing (1845–1899) in 1868. After her death, he married Josephine Whitney Johnson (1849–1927) in 1903. Taylor left an estate worth $50 million upon his death in 1921, just a few months before the death of his nephew Moses Taylor Pyne.
Moses died in 1882 and although he owned a vault at the New York City Marble Cemetery that already contained members of his family, he was buried in Green-Wood Cemetery in Brooklyn, New York City. Moses left his fortune to his wife and children. Many of the Taylor family descendants were prominent in New York and Newport society and several prominent families owe a substantial portion of their fortunes to the Taylor inheritances.
Through his daughter Albertina, the Pynes family became a dynasty of bankers that survives to this day. Percy's son Moses Taylor Pyne was a benefactor of Princeton University who supported its development from a college into a university and left an estate worth $100 million at his death in 1921.
Not noted for philanthropy during his life, at its end in 1882 Moses Taylor donated $250,000 to build a hospital in Scranton, Pennsylvania to benefit his iron and coal workers, and workers of the D. L. & W railroad. The Moses Taylor hospital continues in operation today.
This company was incorporated in 1868. The company focused on larger shipping items such as coal. They manufactured rail cars till 1891.
Hoboken (// HOH-boh-kən; Unami: Hupokàn) is a city in Hudson County, New Jersey, United States. As of the 2020 United States Census, the city's population was 60,417. Among cities with a population above 50,000, Hoboken was ranked as the third-most densely populated municipalities in the United States, with more than 42,400 people per square mile. Hoboken is part of the New York metropolitan area and is the site of Hoboken Terminal, a major transportation hub for the tri-state region.
Hoboken was first settled as part of the Pavonia, New Netherland colony in the 17th century. During the early 19th century, the city was developed by Colonel John Stevens, first as a resort and later as a residential neighborhood. Originally part of Bergen Township and later North Bergen Township, it became a separate township in 1849 and was incorporated as a city in 1855. Hoboken is the location of the first recorded game of baseball and of the Stevens Institute of Technology, one of the oldest technological universities in the United States. It is also known as the birthplace and hometown of Frank Sinatra; various streets and parks in the city have been named after him.
Located on the Hudson Waterfront, the city was an integral part of the Port of New York and New Jersey and was home to major industries for most of the 20th century. The character of the city has changed from an artsy industrial vibe from the days when Maxwell House coffee, Lipton tea, Hostess Cupcakes, and Wonder Bread called Hoboken home, to one of trendy shops and expensive condominiums. It has been ranked 2nd in Niche's "2019 Best Places to Live in Hudson County" list.
The name "Hoboken" was chosen by Colonel John Stevens when he bought land, on a part of which the city still sits. The Lenape (later called Delaware Indian) tribe of Native Americans referred to the area as the "land of the tobacco pipe", most likely to refer to the soapstone collected there to carve tobacco pipes, and used a phrase that became "Hopoghan Hackingh". Like Weehawken, its neighbor to the north, Communipaw and Harsimus to the south, Hoboken had many variations in the folks-tongue. Hoebuck, old Dutch for high bluff and likely referring to Castle Point (the district of the city highest above sea level), was used during the colonial era and later spelled as Hobuck, Hobock, Hobuk and Hoboocken. However, in the nineteenth century, the name was changed to Hoboken, influenced by Flemish Dutch immigrants and a folk etymology had emerged linking the town of Hoboken to the similarly-named Hoboken district of Antwerp.
Today, Hoboken's unofficial nickname is the "Mile Square City", but it actually covers about 1.25 square miles (3.2 km2) of land and an area of 2 square miles (5.2 km2) when including the under-water parts in the Hudson River. During the late 19th/early 20th century the population and culture of Hoboken was dominated by German language speakers who sometimes called it "Little Bremen", many of whom are buried in Hoboken Cemetery, North Bergen.
Hoboken was originally an island which was surrounded by the Hudson River on the east and tidal lands at the foot of the New Jersey Palisades on the west. It was a seasonal campsite in the territory of the Hackensack, a phratry of the Lenni Lenape, who used the serpentine rock found there to carve pipes.
The first recorded European to lay claim to the area was Henry Hudson, an Englishman sailing for the Dutch East India Company, who anchored his ship the Halve Maen (Half Moon) at Weehawken Cove on October 2, 1609. Soon after it became part of the province of New Netherland.
In 1630, Michael Reyniersz Pauw, a burgemeester (mayor) of Amsterdam and a director of the Dutch West India Company, received a land grant as patroon on the condition that he would plant a colony of not fewer than fifty persons within four years on the west bank of what had been named the North River. Three Lenape sold the land that was to become Hoboken (and part of Jersey City) for 80 fathoms (146 m) of wampum, 20 fathoms (37 m) of cloth, 12 kettles, six guns, two blankets, one double kettle and half a barrel of beer. These transactions, variously dated as July 12, 1630 and November 22, 1630, represent the earliest known conveyance for the area. Pauw (whose Latinized name is Pavonia) failed to settle the land, and he was obliged to sell his holdings back to the company in 1633.
It was later acquired by Hendrick Van Vorst, who leased part of the land to Aert Van Putten, a farmer. In 1643, north of what would be later known as Castle Point, Van Putten built a house and a brewery, North America's first. In series of Indian and Dutch raids and reprisals, Van Putten was killed and his buildings destroyed, and all residents of Pavonia (as the colony was known) were ordered back to New Amsterdam. Deteriorating relations with the Lenape, its isolation as an island, or relatively long distance from New Amsterdam may have discouraged more settlement.
In 1664, the English took possession of New Amsterdam with little or no resistance, and in 1668 they confirmed a previous land patent by Nicolas Verlett. In 1674–75 the area became part of East Jersey, and the province was divided into four administrative districts, Hoboken becoming part of Bergen County, where it remained until the creation of Hudson County on February 22, 1840. English-speaking settlers (some relocating from New England) interspersed with the Dutch, but it remained sparsely populated and agrarian.
Eventually, the land came into the possession of William Bayard, who originally supported the revolutionary cause, but became a Loyalist Tory after the fall of New York in 1776 when the city and surrounding areas, including the west bank of the renamed Hudson River, were occupied by the British. At the end of the Revolutionary War, Bayard's property was confiscated by the Revolutionary Government of New Jersey. In 1784, the land described as "William Bayard's farm at Hoebuck" was bought at auction by Colonel John Stevens for £18,360 (then $90,000).
In the early 19th century, Colonel John Stevens developed the waterfront as a resort for Manhattanites. On October 11, 1811, Stevens' ship the Juliana, began to operate as a ferry between Manhattan and Hoboken, making it the world's first commercial steam ferry. In 1825, he designed and built a steam locomotive capable of hauling several passenger cars at his estate. Sybil's Cave, a cave with a natural spring, was opened in 1832 and visitors came to pay a penny for a glass of water from the cave which was said to have medicinal powers. In 1841, the cave became a legend, when Edgar Allan Poe wrote "The Mystery of Marie Roget" about an event that took place there. The cave was closed in the late 1880s after the water was found to be contaminated, and it was shut and in the 1930s and filled with concrete, before it was reopened in 2008. Before his death in 1838, Stevens founded the Hoboken Land and Improvement Company, which laid out a regular system of streets, blocks and lots, constructed housing, and developed manufacturing sites. In general, the housing consisted of masonry row houses of three to five stories, some of which survive to the present day, as does the street grid.
Hoboken was originally formed as a township on April 9, 1849, from portions of North Bergen Township. As the town grew in population and employment, many of Hoboken's residents saw a need to incorporate as a full-fledged city, and in a referendum held on March 29, 1855, ratified an Act of the New Jersey Legislature signed the previous day, and the City of Hoboken was born. In the subsequent election, Cornelius V. Clickener became Hoboken's first mayor. On March 15, 1859, the Township of Weehawken was created from portions of Hoboken and North Bergen Township.
Based on a bequest from Edwin A. Stevens, Stevens Institute of Technology was founded at Castle Point in 1870, at the site of the Stevens family's former estate, as the nation's first mechanical engineering college. By the late 19th century, shipping lines were using Hoboken as a terminal port, and the Delaware, Lackawanna & Western Railroad (later the Erie Lackawanna Railroad) developed a railroad terminal at the waterfront, with the present NJ Transit terminal designed by architect Kenneth Murchison constructed in 1907. It was also during this time that German immigrants, who had been settling in town during most of the century, became the predominant population group in the city, at least partially due to its being a major destination port of the Hamburg America Line, though anti-German sentiment during World War I led to a rapid decline in the German community. In addition to the primary industry of shipbuilding, Hoboken became home to Keuffel and Esser's three-story factory and in 1884, to Tietjen and Lang Drydock (later Todd Shipyards). Well-known companies that developed a major presence in Hoboken after the turn-of the-century included Maxwell House, Lipton Tea, and Hostess.