New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-08-21
New York Banker Was for
Years Power in World
Finance.
AIDED GOVERNMENT
DURING CIVIL WAR
End Comes to Financier
and PhilanthrOpist at
Long Branch.

James Selgman, New York pioneer
banker, who, with his brothers, helped
the Washington government finance the
Civil War, died yesterday at his sum-
mer home in Ocean Avenue, Long
Branch. He was in his ninety-third
year.
Mr.. Seligman was the last, save one,
of eight brothers, who at one time
controlled banking houses bearing
their name in New York, New Orleans,
San Francisco, London, Paris and
Frankfort. For a time they exercised
a power in world finance that has been
likened to that Of the Rothschild fam
lily. Their New York house, founded
in 1862 by Joseph and William Selig-
man as ]. e. w. Seligman e. Co., is at l
William Street.
The veteran bankers six children
were at his. bedside when the end
came. Mr.. Selgman had been i'll ten
days.
Only One Brother Survives.
James Seligman's life vas romance
of finance into which entered govern
ments, armies and navies, and projects
of civil life great and small. He was
born April II, 1924, in the little Ger
man village of Baiersdorf, as were
his forbears for Ave generations. SIX
of the other Seligman brothers were
born there. The youngest ana pest
known. Isaac, was born on Staten
Island. He is now the head OF oellg-
man Bros, London bankers.
James Seligman, after being appren-
ticed to a German weaver, came 70
America in 1899. He joined his brothers
Joseph, William and Jesse, in whole
sale clothing enterprise, which took
him over various parts of the South.
The Selgmans, however, were intense
lv loyal Unionists. When hostilities
began between the states, they were
in business in New York.
Friend of General Grant.
In 1862. during the darkest hour Of
the Northern cause, the Seligmans or
eanized their New York bank. They in
troduced United States bonds into Ger
rlrny. and their London branch was
rade the authorized European deposl-
tory for funds of the State and Navy
departments.
James Seligman's personal efforts in
behalf of the Union won him the en-
during friendship of General Grant.
The credit of the State and Navy de-
partments was saved several times
when the Seligman bank carried them
for large sums. The Seligmans con-
t.nued as fiscal agents for the Navy
Department through all adminlstra-
tions except those of Presidents Cleve-
land and Wilson. >.
During the Civil War the house OF
Seligman expanded. All eight OF the
Seligman brothers branched out as
bankers and took stations IN various
rarts of the world with the Sellgman
bank branches. For nearly forty years
this interlocking partnership continued
but as the brothers died the banks
drifted apart, and at length became
separate and even rival organizations
Oldest Stock Exchange Member.
In 1914 Isaac Newton Seligman, long
a resident of London. in revolt against
the Wilson Administrators income
tax law, renowned his American citl-
zenship and became a British subject.
James Seligman was the oldest men,
her of the New York Stock Exchange.
He Joined it in 1868, by virtue OF be-
ing a member of the Gold Board. For
fifteen years he was member OF the
governing committee of the exchange
and was chairman of the finance com
mittee from 1859 to 1895. About
twelve years ago he retired from
active charge of J. & W. Seligman q
Co., and since has devoted himself
largely to philanthropic pursuits.
Since 1898 he had been president of
Temple Emanu-El, at Forty-thlrd
Street and Fifth Avenue. He became
a charter member Of the temple IN
1s45 and sang in it's first choir. He
contributed literally to Hebrew and
Christian charities. His wife, who was
Rose Content, died nine years ago.
Their children are Mrs. Benjamin Gug-
genheim, Mrs. Robert F. Nathan, Mrs.
Albert II. Gross, DR.. Dewitt Seligmsn,
Eugene Seligman and Jefferson Selig-
man. -.
Mr.. Seligman celebrated his ninetieth
birthday at family reunion by posing
before a motion picture camera. On
trips to Washington he used to be mis-
taken for former Speaker Joseph q.
Cannon, whom he resembled. This al
ways was a matter Of great amusement
to the banker, who was a stanch Re
publican.
Mr.. Seligman had maintained a sum-
mer home at Long Branch for many
years.
Funeral services will be held at Tenn
pie Emanuel Wednesday morning at
10 o'clock.