Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1916-08-21
NEW YORK FIVANCIER,
ONCE DIES
j. Seligman, Oldest Stock Ex-
change Member, Succumbs
at Summer Home

| LONG BRANCH, N j., Aug. 21.--James
| Seligman, retired member of the firm OF
| ]. and w. Seligman & Co. New York bank
ers. died at his summer home here at the
age OF 92 years He was the Oldest mem
| ber of the New York Stock Exchange.
His life cannot be better told than in his
| own words. spoken on the eve OF his seth
birthday:
at was born in 1924 in Baiersdorf Ger
many" he said. MY mother conducted a
store independently of my father, who was
a woolen merchant, and looked after the
home as we'll. 1 was the third son.
MY parents sent me to the village school
until was IL years old. Then they sent
me to Floss, 100 miles from home, to
learn the weavers trade from my uncle and
aunt. Three years later I returned to
Baiersdorf When / was years old two
wagonloads of people left Baersdorf for
America and my eldest brother Joseph went
with them. He went to Pennsylvania,
where he obtained position as cashier in
a coal mine at a salary of S4O0 year.
I'm the spring of 1889 two wagonloads
OF peasants again left our little village, my
brother William and myself among them.
l was then 10 years old. We each had
$40 from our mother sewed In a little bag
around our waists. 1 went to Mauch Chunk,
Pa, where my brother Joseph secured me a
position as apprentice to a carpenter in
Bethlehem. Pa. / was to remain a year
with him for my board until / had learned
the trade. Four months later decided to
quit the business.
my brother Joseph then went to Beth.
lehem and expended $500 for jewelry-rings
bracelets and watches. some gold-plated
others German silver. With these goods as
a loan and the $40 given me by my mother
went to work peddling, and on the first
day sold more than 500 worth Of the goods
/ kept at the occupation in Pennsylvania
K,, NHgif oil Inc
year I went South and made $1,000.
Joseph and William decided to peddle
also. / came North TO meet them and In
1910 Influenced them TO go South with me.
We decided to continue as merchants. and
after a few years we opened q dry goods
store In Greensboro, Ala with Joseph as
manager, The rest OF us kept on as
peddlers, and later a second store was
opened in Utah, Ala. I continued itinerant.
I'VE later sold our southern stores and
came North. William opened dry goods
store in ST. Louis aud Jesse took charge
OF one in Watertown. N. Y. In 1s4s Joseph
and I planned 10 open an important house
in New York under the name OF j. & w.
Seligman Co., at the corner Of Beekman
street. We did fairly well until the gold
fever struck the country and William,
Jesse. Henry and Leopold caught the fever
and went to San Francisco, where they
opened store in 1851.
After eight years Jesse and William re-
turned 20 New York and opened dry goods
store in this city. Through William our
stores received contracts from the Govern
ment to supply. soldiers uniforms. and these
contracts amounted to several millions of
dollars. After the Civil War we decided
to go into the banking business. ana a
year later Jesse went 10 Frankfort TO open
a bank We sold United States Govern
ment bonds, which were the first to go
to Europe. Later Abraham opened a bank
ing business In this city, and Isaac. my
brother, and Leopold established a
branch IN London. William soon afterward
went TO Paris and established Seligman
bank there"