Savannah morning news. [volume] (Savannah) 1868-1887, 1882-05-26
The DEATH OF NOSES TAYLOR.
For Half a Century a Leading MeT-
chant and Banker In the City Of
His Birth.


His Birth
NeuC York sun. 24th.
Moses Taylor died at his residence, ~
Fifth avenue, at quarter-past six o'clock
yesterday morning. A year and half ago
he was attacked BY paralysis, and since then
he had suffered from a variety OF COM
plants, and his strength had gradually
ebbed. At times It so far returned as to
excite hopes that his life might be pro-
lopged, but when on Thursday last
symptoms OF bronchitis appeared, and the
disease developed into pneumonia, DR..
Sabine gave up hope. All Mr.. TsylOr's
family except one son, who is in Europe,
were about his bedside when he died.
The flags on nearly every bank in Wall
street were set at half mast yesterday, and
the flag upon the City Bank, Of which Mr..
Taylor was President, was heavily drsped
bank met and adopted suitable resolutions.
A special meeting of the Board OF Directors
OF the Delaware, Lsckswanna and Western
Railroad took similar sction. Both boards
with attend the funeral.
Moses Taylor's life history Is interesting
as the narrative of q remarkably successful
career, identified with the mercantile and
financial development OF the metropolis dur
ing the past half century. he was born
l..
and Morris streets, when the business centre
Of the city was in Wall street, and the limit
OF population was drawn at Canal street.
His boyhood was passed in the locality in
which he spent the mature years OF his life
in active business. He was a descendant
Of Moses TAYLOR, an Euglishman who immi-
grated 10 this country from London in
1916, and century and a half after this
founder Of the New York family had estab-
lished himself In business, q linesl descendant
iu the third generation, and of the same
name, was conducting business within a
stones throw of his ancestors home and
shop. The youngest son Of the pioneer was
the grandfather of the Moses Taylor who
has Just died. He was born in 1879, aud
was a man of family at the time Of the Re
volution He removed to New Jersey when
New York was captured by the British, and
while he lived there, Jacob B. Taylor, the
father Of the merchant and banker Just
dead, was born. 10 1918, when Moses was
seven years old, his father removed from
Broadway and Morris streets into what was
then upper New York, his new home being
in Broadway, nearly opposite what is now
the New York Hotel.
For an education young Taylor was sent
TO private schools in Chambers, Church and
Thames streets. The bent of his mind was
practical rather than scholastic, and at the
age of fifteen, with a good common school
education, he entered upon his business
career. He got employment in the count.
ing room Of the shipping house OF G.. G. &
S. Rowland, which now exists as the house
Of Rowland 81 Aspinwall. The business OF
the house was enormous. It's vessels sailed
to nearly every port known to commerce.
Here the young mans intelligence aud in
dustry soon attracted the notice of his en-
ployers. His motto was "to be always
ahead at his work" The systems Of the
various branches of the business were all
more complicated than at present. During
successive promotions young Taylor made
himself thoroughly conversant with the
duties of each department. As he advanced
he was allowed to make small ventures on
his own account, and he soon provided him
self with the capitl which enabled hiD, in
1888, at the age Of &c, to begin business on
his own account.
He had saved from his small salary, and
accumulated from his speculations, $4,000
during his eleven years service as a clerk,
and had gained a thorough knowledge Of
the business he had embarked in. To ex-
perience and self-esrned capital he added
great selt-reliance, energy and good char
acter, which placed within his reach ample
credit. This he kept good by never using
1t. He put up bis first sign at So South
street, but soon moved to Al South street,
which during fifty years was his place Of
business. he formed deep attachment for
this part of South street. 1t was the scene
of his struggles, vicissitudes and success.
Such a man as Moses Taylor would not
speak of 8, locality as lucky, but
he regarded the spot as suspicious.
Five of his clerks, who grew up
in his employ and left him st different
periods to go into business for themselves,
I'd In ~ fbafr 10
employer, who used to cite with gratifica-
ton the fact that all of them were eminent
ly successful. His own beginning, how
ever, was not suspicious, Notwithstanding
all the favorable conditions mentioned
Just as he opened his Office the cholera
broke out In New York, and all business
enterprises were depressed. The young
merchant waited patiently for the revival.
Three years later he had got his, business
under prosperous Roadway, when the great
fire of December, 1885, swept away his
store, and its contents were totally destroy
ed. He succeeded in saving only his books
On his way home in the morning, exhausted
from his laboFs, he met his father, to whom
he expressed the belief that he was ruined.
"Never mind, Moses" said the Alderman
''You have good health; try again" 81
will, SIR" replied Moses, with determi-
nation.
Before night be was at work, arranging to
reopen his business. He opened an Office In
the basement of his house In Morris street,
and as soon as an office could be found in
the business district he moved into Broad
street. He realized more from his insurance
than he had expected. This he invested in
the importation of those commodities for
which the fire had created the greatest need.
He made more by these operations than he
had lost by the fire. The dav after the fire
he arranged with his landlord for tine re-
building OF store on the site OF a South
street. The work of construction was
pushed so rapidly that it was one of the
first houses erected after the fire. Soon
afterward he bought the property. From
general trading Mr.. Taylor began to make
speciality Of the Cuban trade, and from this
his house became one of the largest IN the
sugar trade. For many years, however, he
continued to import from and trade with all
parts of the world He was also at one time
an extensive shipowner, and chartered yes
sells as well, but all Of these and other mer-
camille ventures were subordinate to the
Cuban trade, upon which he concentrated
his best energies, and from which he accu-
mulated the greater part of his large for
tune He had not taken an active part in
the business Of his house for nearly twenty
wears before his death. The details have
been conducted by his partners, Mr.. Law
renee Turnare, Mr.. Percy r. Pyne, his SON.
in-law. and his son, Henry A. Taylor.
In 1855 Mr.. Taylor was chosen President
of the City Bank. When the panic Of 1857
came there was a run Of more or less mag
nitude on nearly every bank. The bankers
organ zed for mutual aid and protection. At
their first meeting after business hours on
the f. st day each was called upon to give
the loss Of its specie reserve. Losses OF from
fifty to ninety per cent. were reported.
When the City Bank was called Moses Tsv-
lor replied: I'VE had $500 900 this morning
and we have $3.50, 900 to night" He distin-
guished himself most as a bank President
during the late war. He was strong advo-
cate Of the proposition that the banks should
loan money to the government to meet the
enormous expenses Of the war. For a
year and a half he filed the position
of Chairman of the Loan Committee OF
the Associated Banks. Though the COM
mittee handled over 5000 900, 900 worth Of
securities, he took no compensation for his
work. Even In the darkest days of the
war, when the Federal Government was
most sorely pressed for funds and its credit
was questioned, Mr.. Taylor continued his
efforts as a negotiator of loans, and ex
pressed the utmost confidence In the sue
cessfui result of the CONFLICT, the resources
of the country, and its reeuperative powers.
It was a matter of pride with him that be
did not miss day at his desk in the bank
when he was in town. After he had partial
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