David H. Lincoln

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David Harvey Lincoln (February 20, 1834 – June 8, 1893) was an American financier and businessman known for his significant contributions to the Chicago Board of Trade (CBOT) during the late 19th century.
== Background ==
Lincoln was born on February 20, 1834, in Amesbury, Massachusetts.
At a young age, his parents relocated to Racine County, Wisconsin, where he received his education until 1855. Lincoln moved to Chicago and began his business career as a clerk in a grain commission house. After two and a half years, he ventured into the grain commission business independently, starting, owner of D.H. Lincoln & Company and eventually becoming a member of the Chicago Board of Trade in 1858.
===Career at the Chicago Board of Trade===
Throughout his tenure at the Chicago Board of Trade, Lincoln actively participated in various committees and served on the Directory. He held positions as the first and second vice president before being elected as the president of the CBOT in 1877, a position he held for one year.
Lincoln was elected a director of the Chicago Board of Trade in 1869 at the annual election on April 5, 1869. Jesse M. Richards was elected President, Samuel H. McCrea was elected first vice-president and Henry A. Towner as second vice-president. The other new directors were R. Stone, C. W. Kreigh, R. W. Pettit and J. K. Fisher.
Lincoln was involved in a controversy at the Chicago Board of Trade that involved a the quality of a shipment of grain that had passed inspection by the Chief Inspector of grain of the Board of Trade. Another board member on the inspections committee was eventually kicked off after a dramatic board meeting with accusations of frequent interference in inspections. Lincoln and other inspection committee members defended themselves, all denying improper conduct. The result of the controversy and many complaints about grain quality was the passage of the warehouse law in April, 1871. This law took the inspection of grain out of the hands of the Board of Trade, and placed it in charge of the Railroad and Warehouse commission.
After the devastating Great Chicago Fire, Lincoln played a pivotal role in the efforts to restore order and fairness to the city's financial landscape. Recognizing the need to address outstanding futures contracts affected by the fire, Lincoln made a motion during a board meeting to establish a committee for settling such matters. On his motion, the directors' proceedings were read, outlining the resolution to settle scores based on the price current at the close of trading on Saturday, with a committee of nine members appointed to establish the price basis for formal settlements. Despite several attempts to amend the proposal, the integrity and wisdom of the Board prevailed, and the directors' recommendation, championed by Lincoln, was ultimately adopted.
In 1875 at the annual meeting of the exchange, Lincoln was elected the second vice president, while George Amour was elected president and John R. Bensley first vice-president. The new directors were Calvin T. Wheeler, H. H. Ross, J. B. Dutch, E. W. Densmore and R. P. Murphey.
In 1876 there was controversy over continuous corners at the Chicago Board of Trade and during the election, John R. Bensley was elected president with 538 votes to 438 for A.M. Wright in what was hailed as a victory for "reform." Lincoln was elected as first vice-president, moving up from second, and Josiah Stiles was elected second vice-president. The Board had voted to increase the size of the Board of Directors from ten to fifteen. New members were M. S. Kingsland, C. H. Blackman, P. P. Oldershaw, A. J. Marble and A. E. Clark were elected.
In the spring of 1876, Lincoln faced significant challenges as President of the Board of Trade amidst a sudden rise in market prices, resulting in the suspension of his firm, D. H. Lincoln & Company, in April. Speculation arose regarding his resignation, but Lincoln persisted, citing failed margin commitments from correspondents as the cause. He expressed intent to resolve his financial obligations through real estate sales. Despite the setback, Lincoln chose to remain in his position and continued operating his commission business independently, ultimately announcing a settlement at 25 cents on the dollar later in the month.
A railway strike during July of 1876 caused riots to break out in cities across the eastern U.S., causing problems for CBOT markets, with some members proposing closing the exchange for a few days. CBOT President Lincoln called a special meeting of the board and make the following resolution:
"Whereas, In the opinion of the Board of Directors, owing to the unsettled condition of the affairs of the city and the country, they deem the continued purchase and sale of property is calculated to disturb future values unjustly, and also tends to prevent members from taking part in the defense of the city; therefore. Resolved, That the Board of Directors give notice that they will refuse to enforce contracts for the future delivery of property made until further notice. Resolved, Further, That the members be requested to come to the rooms of the Board this afternoon with such arms as they can procure, and as far as possible make arrangements to remain in this room as their headquarters subject to the call of the mayor for the defense of the city." 
Due to the financial challenges experienced by Lincoln, the president of the Board, he was unable to preside over the annual meeting. Consequently, the report of the directors was signed by Josiah Stiles, serving as the first vice-president in Lincoln's absence.
===Personal Life===
Lincoln married Frances A. Bartlett on July 3, 1859, in Walworth, Wisconsin. They were blessed with at least two sons and two daughters. Lincoln was known not only for his business acumen but also for his philanthropy and character. He was a member of Covenant Lodge, No. 526 A.F. & A.M.
=== Later Years and Legacy ===
Lincoln passed away on June 8, 1893, at his residence on South Park Avenue in Chicago. The sam year he died, twenty-six members of the Chicago Board of Trade passed away, including one other ex-president, George M. How. He was buried at Rosehill Cemetery and Mausoleum in Cook County, Illinois. Lincoln left behind a legacy of integrity, leadership, and generosity, having made significant contributions to the development and success of the Chicago Board of Trade during a crucial period in its history.
In his obituary, Lincoln was remembered as a gentleman who executed his duties with meticulous precision, displayed wide charity towards others, and maintained unfailing politeness. Despite facing physical challenges in his later years, he exhibited patience and heroism that inspired those around him.
== References ==	
Category:Deceased
Category:CBOT Members
Category:Former CBOT Officials
Category:Presidents of the Chicago Board of Trade