George Brown (Financier)

George Brown (Financier)

George Brown (1787-1859) was an Irish-American investment banker and railroad entrepreneur. He emigrated from Ulster to Baltimore, Maryland, at the age of 15 in 1802.cite book | last = Dilts | first = James D. | title = The Great Road | publisher = Stanford University Press | year = 1993 | isbn = 0-8047-2235-8 ]

He eventually joined his father, Alexander Brown (1764–1834), in the family business, Alex. Brown & Sons, which became one of the leading investment banks of the U.S. in the nineteenth century. In 1818, George partnered with his brother John in starting the firm of Brown Bros. & Co. in Philadelphia, Pennsylvania.

George Brown had a prominent role in the founding of the Baltimore and Ohio Railroad (B&O), the first common carrier railroad in the U.S."Among ourselves", "B&O Magazine", October, 1961, p. 18] On February 12, 1827, he hosted a meeting at his Baltimore home for 24 leading merchants, where Philip E. Thomas joined Brown in advocating the formation of a railroad to make Baltimore competitive with other eastern seaboard ports. Concerned at the potential effect of canals, particularly the successful Erie Canal (completed in 1825) and others being planned, such as the C&O Canal to Washington, D.C., he served on the committee which studied the development of railroads in Great Britain. At a subsequent meeting in Brown's house (near where Baltimore's City Hall now stands), the committee concluded that the then-unproven technology of a long-haul railroad was feasible and that considerable trade "would flow into the State of Maryland, upon the proposed Rail Road," the committee's report concluded.The state agreed, approving a charter for the B&O Railroad on March 13, 1827. Thereafter, the Mechanics Bank of Baltimore, where George Brown and Philip E. Thomas were officers, had a leading role in the financing and sale of B&O stock for construction of the first railroad in the U.S. [John F. Stover, "History of the Baltimore and Ohio Railroad". W. Lafayette, Ind.:Purdue University Press, 1987. (ISBN 0-911198-81-4)] George Brown was subsequently elected as the B&O's first treasurer. He later succeeded his father in 1834 as head of Alex. Brown & Sons.

The Brown Memorial Presbyterian Church of Baltimore, Maryland was built in 1870 in his memory, funded by Brown's wife, Isabella McLanahan Brown. His brothers were William, John, and James.

References


Wikimedia Foundation. 2010.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • George Brown — may refer to: Politicians * George Brown, Baron George Brown (1914–1985), British politician, Secretary of State for Foreign Affairs * George Brown (Canadian politician) (1818–1880), Scottish born Canadian journalist, politician ** George… …   Wikipedia

  • George Moscone — Buste de George Moscone, à la mairie de San Francisco Mandats Maire de San Francisco …   Wikipédia en Français

  • George Richard Moscone — George Moscone Buste de George Moscone, à la mairie de San Francisco. George Richard Moscone (24 novembre 1929–27 novembre 1978) fut le maire de San Francisco de janvier 1976 jusqu à son …   Wikipédia en Français

  • George Ravenscroft — (1632 7 June 1683) was an English businessman in the import/export and glass making trades. He is primarily known for his work in developing clear lead crystal glass (also known as flint glass) in England.Personal lifeLittle is known about… …   Wikipedia

  • George Coulouris — Infobox actor name = George Coulouris caption = George Coulouris, c. 1970 birthdate = Birth date|1903|10|1|df=y birthplace = Manchester, England deathdate = death date and age|1989|4|25|1903|10|1|df=y deathplace = London, EnglandGeorge Coulouris… …   Wikipedia

  • Joseph Bologne de Saint-George — Pour les articles homonymes, voir Saint Georges. Joseph Bologne de Saint George …   Wikipédia en Français

  • List of Brown University people — The following is a partial list of notable Brown University people, known as Brunonians. It includes alumni, professors, and others associated with Brown University. Notable alumni Note: Class of is used to denote the graduation class of… …   Wikipedia

  • Herbert Brown Ames — Sir Herbert Brown Ames Pour les articles homonymes, voir Ames (homonymie). Sir Herbert Brown Ames (27 juin 1863 30&# …   Wikipédia en Français

  • Железная дорога «Балтимор и Огайо» — Карта железной дороги Балтимор и Огайо Железная дорога «Балтимор и Огайо» (англ. The Baltimore and Ohio Railroad (B O))  старейшая железная дорога в США, первый грузо пассажирский оператор в стране. Первоначально железная дорога… …   Википедия

  • Baltimore and Ohio Railroad — Карта железной дороги Балтимор и Огайо Железная дорога «Балтимор и Огайо» (англ. The Baltimore and Ohio Railroad (B O))  старейшая железная дорога в …   Википедия

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”