Nationality American Occupation Banker | Name James Stillman Children James A. Stillman | |
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Full Name James Jewett Stillman Net worth USD $77 million at the time of his death (approximately 1/989th of US GNP) Spouse Elizabeth Rumrill (m. 1871) | ||
James Jewett Stillman (June 9, 1850 – March 15, 1918) was an American businessman who invested in land, banking, and railroads in New York, Texas, and Mexico. He was chairman of the board of directors of the National City Bank. He forged alliances with the Rockefeller family, Standard Oil and Kuhn, Loeb & Co. to lay a foundation that made it, arguably, "the greatest bank in the Western Hemisphere." He engaged in an expansion policy that made National City the largest bank in the United States by 1894, the first to open foreign branches, and a leader in foreign exchange. By 1902, the bank was able to pay any sum of money to any city in the world within 24 hours. He was worth approximately $77 million at the time of his death in 1909, making him one of the wealthiest people in the country at the time.
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Biography
Stillman was born on June 9, 1850 to Charles Stillman (1810–1875) and Elizabeth Pamela Goodrich in Brownsville, Texas, a town founded by his father. Both of his parents were born in Wethersfield, Connecticut. Charles Stillman had significant business interests which James acquired in 1872. He expanded those to control of sixteen Texas banks and a significant land holdings in the Rio Grande Valley, particularly Corpus Christi and Kerrville, Texas.
Along with W. Averell Harriman, Jacob Henry Schiff and William Rockefeller, he controlled the most important Texas railroads (including the Texas and Pacific Railway, the Southern Pacific Railroad, the International-Great Northern Railroad, the Union Pacific Southern Railway, the St. Louis, Brownsville and Mexico Railway, and the Mexican National Railroad).
In 1876, Stillman supported Porfirio Díaz's overthrow of the government of Mexico by the Revolution of Tuxtepec.
He was chairman of the board of directors of the National City Bank and retired in 1908.
He died on March 15, 1918 at his home on 9 East 72nd Street in Manhattan, New York. His funeral was at St. Bartholomew's Episcopal Church, New York.
Personal life
He married Sarah Elizabeth Rumrill (1855–1925). Together they had:
Descendants
His grandchildren included Godfrey Stillman Rockefeller (1899–1983), a financier, and James Stillman Rockefeller (1902–2004), who married Nancy Carnegie (died 1994), grandniece of Andrew Carnegie. James also served as president of National City from 1952 to 1959 and was chairman from 1959 to 1967. His great-grandson is the director, and Academy Award nominee, Whit Stillman (born 1952).
Legacy
In 1928, the C.O. Stillman was named in his honor. At the time, it was the largest oil tanker in the World. Stillman is considered to have been one of the 100 wealthiest Americans, having left an enormous fortune.