New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-06-05
H. E. FAHNESTOCK,
BANKER, DIES AT 70
AS Member of Jay Cookies
Firm He Was Active in
Building North. Pacific.
OBTAINED CONTROL OF
1ST NATIONAL BANK
Was Trustee of Metropolitan
Museum of Art and Cathedral
of st. John the Divine.

Harris c. Fahnestock. fnancier and
philanthropst, died at his home. 457
Madison av. yesterday morning. He was
seventy-nine years old. His death was
caused by complication OF ills brought
on by old age during a slow decline
which had continued since no retired
from active business in Wall street, six
or seven years ago.
Mr. Fahnestock was born in Harris
burg. Penn. on February q, 1895. He at
tended the Harrisburg Academy, working
at the same time in his fathers store.
When sixteen years old he began his
banking career as paying teller in the
Harrisburg National Bank. In 1850, dis
appointed In his hope to become vice
president OF the bank. he left Harris
burg TO become a partner in the firm or
Jay Cooke e. Co.. in Washington, where
he was very active in the war loans OF
the next few years. While there he be-
came treasurer Of the Washington x
Georgetown Railroad. which was the
FIRST horse car line in Washington.
Mr.. Fahnestock came TO New York in
1856 10 take charge OF the local house OF
Jay Cooke & Co. and was member OF
Jay Cooke. McCulloch & Co. until 1871.
At that time he was active in the build
ing OF the Northern Pacific Railroad.
which caused the suspension Of the
banking house which he was associated.
After the failure IL was arranged that he
should become head of the bond depart
ment OF the First National Bank and
that later he should become one OF its
officers and obtain control Of the Dank.
The control Of the bank was then held
by the Thompson family, Samuel u
Thompson being president
In 1877 the contract was carried out
and Mr.. Fahnestock became director
and ce-president. Later, with his as
sociates, he acquired the control OF the
Southern Railway, then known as the
Richmond e. Danvile and Richmond q
West Point Terminal Company, and OF
the Central Railroad Of New Jersey
He still retained his dictatorship in the
Central Railroad of New Jersey and
held a large stock interest even after
a majority of the stock was taken over
by the Reading.
He was a member or the Dodlu ol
managers Of the Delaware, LackaWanna
& Western Railroad, and was also IN
terested in the New Jersey Junction
Railroad. Bankers Safe Deposit Com
pany, American Cotton Oil Company
Tidewater Pipe Line Company, Montclalr
Water Company, Western Union Iele-
graph Company, of which he became
director in 1905, and the East Jersey
Water Company which controlled the
Passaic water shed and supplied water
TO Newark and Jersey City
In 1856 Mr.. Fahnestock married Mar
garet 4. Mckinley. of Harrisburg, Penn
in whose memory. after her death IN
1898 he made the large gift of a new
training school for nurses at the POST
Graduate Hospital in this city. ms
school is considered one of the most
commodious and perfectly equipped IN
situations of the kind in the country
Mr. Fahnestock was a trustee OF the
METROPOLITAN Museum OF Art, OF Whlch
he was at one time treasurer; trustee OF
the Cathedral of ST. John the Divine ana
a yestryman of st. Thomas's Church
He was a member Of the American
Museum of Natural History American
Fine Arts Society and the New England
Society. and also of the Metropolitan
Union League, Union, Century Church'
LAWYERS and City clubs.