The New York herald., 1877-11-02

baggcr and had favored tho imitation system OF the
West he might be nominated Tor the Presidency bnt
though he held leading place before the Cincinnati
Convention he was too positive to be candi-
date.
JAMES DROWN, THE BANKER.
James Brown the head OF the eminent banking
house OF Brown Brothers Co., OF New York, and OF
Brown, Snpley Co., Of Liverpool died In this city
yesterday morning, at the advanced age OF eighty
years, at his residence No SS East Thiry-sev-
enth street, corner OF Park avenue The career or
this gentleman and the history OF his firm are
pleleiy identided with New York's growth and this
country's prosperity that hts passing away marks
era in American commerce full or interest 10 the
younger merchants Of Today The old house OF Brown
Brothers had mono OF tho modern facilities at its
command whom II laid The foundation not only
for its present vast wealth, but also for the
reputation OF financial ability with which the
name Is associated in all banking centres
James Brown went to Baltimore from Baymena'
county Antrim, Ireland, with his father Alexander
Brown and his three brothers, in 1900 There the
old gentleman, who was shrewd merchant, went
into the Irish linen business and soon with con-
siderable succesa When the Peninsular war broke
out and also during the Of 1912 Alexander Brown
entered into mercantile ventures, which proved
highly successful The linen trade however, became
more and sort OF banking business, IN SO far
as the house, which by this time had branches estab
iishcd IN Liverpool. New York and Philadelphia,
made numerous advances In cash TO dry goods i'm
porters who had to send remttances to their corre
spon ndents abroad. There were steamers running
1T the time and took fully sixty often ninety days
10 communicate with the other side of tho Atlantic
The banking business virtually grew ON the hands OF
the Brown family, and IN 1874 John A. Brown went 10
Philadelphia, William Brown 10 Liverpool and
James brown camo TO this city Tho parent
house oil Alexander Brown Sons Is still IN
Existence m BALTIMORE wnlle the nrm OF Brown,
- Il IN In
banking house. It's founder, who was educated IN
Baltimore, was Tor a number OF years member Of
Parliament South Lancashire and upon his retire
ment when hc organizod the Free Library OF Liver
pool at a himself Of f1oo,Oo0, ne was created
Daronet by tho Queen. II was Sir William Brown who
aurlng the violent financial Crisis OF 1887, when the
house in New York had TO meet engagements IN Eng
land amounting TO several millions OF dollars, called
upon Bank OF England TO investigate the affairs OF
tho American iirm-Iur AS SUCH the concern was pre-.
eminently known IN Great Britain. The bank com
plcd with Wilnam's request without delay,
ana the committee or 1nanciers appointed tor the
purpose reported SO iavoraoly that the Bank
OF England ut once sustained the firm with
loan of S25 ,00U, all 0l which was returned by
Brown, SIMPLIFY " Co. in less than SIX months. The
firm even then was not embarrassed, though tho
financial panic raging fu-lously on both sides of
the Atlantic, but their resources being locked up 10
considerable extent IN American securities not I'M
medatey available the circuit granted by the Bank OF
England aided materially In lcssenlng the excitement
OF the hour. rnenccforth the firm enjoyed an un-.
equaled reputation Tor proby IN Europe and America,
It's operations grew more extensive and It's bills OF
exchange were eagerly sought IN both hemspheres.
members OF Parliament James Brown the head Of
tho New York house, and whose denise yesterday
ended career OF extraoralnary business activity.
survived both SIR William ana John A.
Brown, the latter having died In Philadelphia
1872, alter having gwen the sum OF 100000
TO the Presby eran hospital OF that city. For up
ward OF forty years the officers OF the a. m
NAMED in the locality first the north SIDE and
then on the south side OF Wall street, II was during
the period o. great uncertainty, In 1887 that the New
YORK house, simultaneously with the rise OF the 1rm
in England, began to occupy prominent position.
James Brown, beng more OF domestic turn OF mind
declined 10 be mixed up IN public or political AFFAIRS
He was always 10 oe found at MS all street banking
house. whore, during twenty-sevcn years. the we'll
known mulatto servant who died about ten years
ago, permitted no access TO his chePa private
Office without Mr. Browns personal permis-
SION The deceased gentleman was Of u rather seclu.
sive Of mind, never desrous OF wasting business
hours in social coniab ana ever ANXIOUS u make the
most OF hs time About forty years ago he built for
himself what was then considered magnificent
house at No. so Leonard street, with court entrance
for his horses and carriages, about halt way between
Broadway and Church street, near the manson OF
Governor Morgan Lewis Leonard street was then
ed with fine residences, aud not devoted 70 dry goods
as is to day The growth OF the city, however, COM
PEELED Mr.. Brown TO move turtner up town, and he
subsequently resided at the corner OF University place
and Nintn street, IL was only during recent years
that the Brown family, sail in q bunch,n as one OF
their friends expressed II yesterday, moved Park
avenue. The broad double mansion No. IS East Thr-
yseventh street, on the corner oi the avenue, whore
Mr.. Brown died, Is faced by the equally broad man
sion OF Mr. Howard Potter, his sonrinlaw. and
other members Of the iamily reside In the IMMEDIATE
vicinity. AS maker OF commercial history II should
be here stated that when forty years ago, the
firm OF Brown, Brothers IL Co. abandoned the dry
goods business and determined TO devote their entire
time TO banking the firm OF Amory, Leeds Co. paid
them 100000 for their good viii, but the good will,
apparently. dld not help the new firm much as they
tailed shortly after. AS the new banking frm grow
more and more in reputation and credit here and
abroad, James Brown, though generally averse 10 pub
lie notorety, nevertheless became Interested III The
great charities OF New York Up to within two years
he held The position OF President OF the New York As
socialion ior Improving the Condition Of the Poor
when he only resigned owing to failng health. As
prominent director and leading officer OF the Bleecker
Street Savings Bank, OF the American Bible Society
and OF the Union theological Seminary, he devoted his
leisure hours many years carefully guarding the
interests OF these various Institutions MIR. Brown
has been twice married. His first vile was a daughter
oil Rev. Dr. Benedict, OF PlaipleId, Conn. HIS second
wlte, daughter OF Rev. DR.. Coe, OF Troy N Y, sur
wives him. lie leaves three daughters, Mrs. Alexander
Brown, Mrs. Howard Potter aud Mrs. James Cooper
Lord, aud Two sons JoDn Crosby Brown and George
Hunter Brown. When Sir William Brown died IN
Liverpool 1t reported that he left a fortune OF
e. 00O, 000 and is believed that tho private wealth
the subject OF this sketch Will up uly to that
OF the heal OF the 9sh house. The funeral
over the remains oil the deceased banker will take
place the University place Presby Church
morrow morning Ut ten O'Clock.