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Facts and Events
Research Notes
- Ogontz is a neighborhood in the North Philadelphia section of Philadelphia, Pennsylvania, United States that borders suburban Cheltenham Township, Montgomery County.
- see Jay Cooke Family website - family history, photos, etc.
References
- ↑ 1.0 1.1 Colonial families of the United States of America: Volume ? , p. 107.
JAY COOKE, b. at Sandusky, Ohio, 10th August, 1821; d. 16th February, 1905; received a private school education; first engaged in business in the then frontier town of St. Louis, Mo., and became proficient in French, mathematics and penmanship. Later removed to Philadelphia and was connected with the firm of E. W. Clarke & Co., until 1856, and was interested in the financing of almost every Rail Road of the country up to 1856. In 1861 founded the firm of Jay Cooke & Co., of which his brother-in-law, Wm. G. Morehead, was a partner. Negotiated the Pennsylvania State Loan, which re-established the credit of the State. During the Civil War Mr. Cooke was appointed the sole subscription agent for the United States Treasury, and floated enormous loans for the Government. Gen'l U. S. Grant said during the Civil War of Jay Cooke, “He is doing more than all the [p.107] Generals in the Army; for without him we could not do any fighting.” After the war was largely instrumental in enabling the Government to resume specie payments. Financed the Northern Pacific Railway, which was his last great undertaking. He was a sincere and earnest Christian; his wants were simple and he delighted in aiding others; m. 21st August, 1844, Dorothea Elizabeth ALLEN, dau. of Richard Nun ALLEN of Randallstown, Md., and his wife Sara HUOHES, b. January, 1793, County Wicklow, Ireland; d. 31st October, 1866, at Cheltenham, Pa
Jay Cooke was a noted 19th century banker, who was interested in the financing of almost every rail road of the country up to 1856. In 1861, he founded the firm of Jay Cooke & Co., of which his brother-in-law, Wm. G. Moorhead, was a partner. He negotiated the Pennsylvania State Loan, which re-established the credit of the State. During the Civil War, Mr. Cooke was appointed the sole subscription agent for the United States Treasury and floated enormous loans for the government. As such, he was on the opposite side of the war to his Confederate brother-in-laws and their sons, which must have caused some bad feelings between Dorothea and her brothers. However, after the War, Jay Cooke literally showered positions and opportunities, loans and gifts upon his family, including his Confederate in-laws.
Jay had met his wife when he stopped at Meadville, Pennsylvania where his brother, Henry D. Cooke, was a student at Allegheny College. Professor R.T.P. Allen was President of institution. His 15 year old
sister, Dorothea Elizabeth Allen, was visiting at the time. After her return to Baltimore and his return to Philadelphia, no great distance separated them until the spring of 1843 when Dorothea went with her
mother and brother to Lexington, Kentucky where her brother was to begin working at Transylvania University.
- ↑ Death Notice, in Washington, District of Columbia, United States. Washington Post, The. (Washington, D.C.)
16 Feb 1905.
JAY COOKE DEAD AT OGONTZ
Famous Financier Succumbs to the Debility of Old Age
Philadelphia, Feb. 16. - Jay Cooke, whose fame as a financier is world-wide, died tonight at the home of his son-in-law, Charles D. Barney, at Ogontz, a suburb of this city. Mr. Cooke was eighty-three years of age. He had been complaining of the result of general debility, the result of old age, for several years. His condition was not considered serious, however, and his death to-night came rather suddenly. Last Monday he entertained as his guests 125 young ladies attending the Ogontz school and their friends. On that occasion he appeared to be in good spirits, and was the last to leave the reception-room. Mr. Cooke's family, relatives, and friends were notified of his illness early to-day, and many of them, including Mrs. Butler, Mrs. Barney and Jay Cooke, jr., his children, were present when he died. Few, except his closest neighbours, knew that he was ill. From the day of his retirement from active work in financial circles, about twenty years ago, to the day of his final illness, Mr. Cooke was never an idle man. He maintained many business interests, but much of his time was spent in hunting and fishing, either at "Ogontz Lodge," in Lycoming County, Pa., or in the bass fishing waters at Put-in-Bay, Lake Eire. At the time of his death he was the owner of large tracts of land in the West.
- Jay Cooke, in Wikipedia: The Free Encyclopedia.
- Family Recorded, in Cooke, Joseph. A Grandfather’s Story and Family Record by One of the Family.
... During the Civil War Jay Cooke and Co. acted as agent for the Government in selling its bonds. ... Jay Cooke was largely interested in the first N.P. R.R. Company. The failure of that Co. left him insolvent to the amount of many thousands of dollars. He again established himself in business and in a few years paid his creditors every dollar of their claims. He is now living in Philadelphia (in 1896)
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