Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1871-12-30
.TiTOB BARKER.

The death of this well known broker and
financler took place at Philadelphia on Thurs
day last. His age was ninety-three. He was
a remarkable man, notorious in the business
world for tact, skill and judgment. He was
a native of this State, born at Swan Island,
in the Kennebec river, near Richmond, in the
year 1919. From a notice in the New York
Herald we copy the following!
He descends, Ivy his mothers side OF the
family from the same stock as DR.. Franklin,
in his very proudest moments, he was ever
glad to claim a certain family resemblance.
Mrs Barker, his mother, was of a Quaker
family in Nantucket Young Jacob was
brought up in the communion of the Friends,
to which, as to the unpretending style of dress
costume of the society, he adhered for very
many years. When he was sixteen years old
he was set adritt in the world; left ''lord of
himself" which has been to many of his age
''heritage of woe"
Jacob came to New York. He obtained
employment with Isaac Hicks, commission
| merchant in this city. He was bright, active,
| intelligent and venturcsome in speculation.
| Commencing to trade on his own account in
| a small way, he realized before the attainment
of his ma otity SO much money that when he
| arrived at the age of twenty-one-a period OF
| five years from his reaching New lork-he
was in possession of four ships and a brig,
| and had his notes regularly discounted at the
United States Bank. Mr.. Barker married
Elizabeth, daughter of Thomas Hazard, of
| New York, on the 9th of August, in the year
| 1901. Sitting at his wedding dinner, in com
pany with Mr.. Henry Devices, for whom he
had endorsed heavily, news was brought 10
Barker of the failure of both. He passed the
| letter over to Dawees, had ''the pleasure of
wine with him" and took no further notice of
the matter. He soon afterwards entered into
a contract with the American government for
"A supply of oil. He was then doing IA large
shipping business. In this time he received
| the consignment OF the first steam engine
used on the North River
The war with Great Britain breaking out
Mr.. Barker took the democratic side in poll
tics. He pledged himself to raise loan OF
| So 900 900 for the use of the United States
government He made one OF the Building
Committee which was appointed to sup, rsise
.hs srsSsisr OF tho old Tammauy Hail. took
part in the first meetings held within its walls.
| He lost many--all, we believe--of his ships
during tho progress of the war with England.
Pursuing his political career he became State
Senator from New York. Sitting in this ca
pacity in the Court of Errors, he delivered
an opinion in opposition to that Of Chancellor
| Kent in an insurance case. Chancellor Kent
| held that if the master of the vessel ''intend-
ed" to deviate from the voyage as stated in
the policy, the insurance was forfeited, Mr..
Barker held that forfeiture should not follow
except upon actual deviation. The court
| sustained Bankers views.
Mr.. Barker established the Union news
paper to advocate the election Of De Witt
Clinton to the office of Governor of the State
of New York.
He subsequently commenced to mediate
deeply on the mysteries of national credits
and expenditures Keeping up an immense
outside business at the same moment, he, in
the year 1915, established the Exchange Bank
in Wall street. His financial dealings with
the government were then exceedingly heavy.
In the Exchange Bank he commenced his ca
reer as speculator in stocks and aspired, it
was said, to become the regulator in chief
and principal channel of the money dealings
of the country. Circumstances, the laws and
the drift of the transactions of the day favor
ed his ambition, and, as bold Spectator, he
came nearer TO its absolute realization than
has occurred in the history Of any one indi-
vidual depending on his own resources. The
Exchange Bank broke in 1919. Barker turn
ed round aud made adroit and active use of
many other banking institutions chartered in
different States. He thus continued his bust