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Henry William Poor

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Henry William Poor

Birth
Bangor, Penobscot County, Maine, USA
Death
13 Apr 1915 (aged 70)
New York, New York County, New York, USA
Burial
Brooklyn, Kings County, New York, USA Add to Map
Plot
Lot 22270, Section 139
Memorial ID
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Banker, stock broker and author. Mr. Poor received a preliminary education in New York city, to which place he was brought when five years old, and graduated from Harvard College in the class of 1865. He entered upon the serious work of his career immediately on graduating, returning to New York city in August of 1865, and has ever since made the metropolis his home. Finding occupation at once as clerk in the then stock brokerage firm of Henry Fitch & Co., he learned in that house all the technicalities of the brokerage business and soon gained sufficient confidence to engage in business on his own account. Any man of receptive and tenacious mind, who is inspired with the least particle of determination not to remain in a rut but to make his own way in the world, will in due time leave a subordinate position and display to the world the sign, which announces that he is in business for himself. Mr. Poor's period of probation was an unusually short one, and in 1868, he established himself in business under the firm name H. V. & H. W. Poor in this city as a dealer in railroad securities. He then associated with himself the Hon. C. E. Habicht, Consul General of Norway and Sweden, in the importation of railroad iron as correspondent of the firm of Tiden, Nordenfelt & Co., of London. Mr. Nordenfelt became the maker of the heavy ordnance known as the "Nordenfelt gun" for the British Government. Mr. Poor's connection with this branch of the business, through the necessity of keeping a record of all railway companies and new construction undertaken by them so that he might be the first in the field in negotiation for the rails needed by them, led to the establishment by him, in 1868, of the now famous annual publication known as "Poor's Railroad Manual," which has ever since filled an important place in the railroad world. Embodying as it does, exhaustive financial information concerning every railway company on the continent, it is an absolute necessity to every manager of an American railroad, every operator in railroad shares and every statistician and writer on economic questions and is as well known in Europe as in this country. Mr. Poor gave extremely close study to the subject to which the Manual was devoted, and soon rose to the position of an authority upon railroad statistics. The firm of H. V. & H. W. Poor is yet in existence at No. 44 Broad street, as publishers of the "Railroad Manual" and other statistical works, Henry W. Poor having been the sole partner, however, since 1883. The period in which Mr. Poor made his entrance into affairs was one of great activity in financial circles. The Civil War had come to an end, railroad building was the order of the day, the country was animated with a spirit of restless enterprise and Wall street became the centre of exciting operations. The firm of H. V. & H. W. Poor prospered from year to year and undertook the construction of several lines of railway, and the junior partner gradually gained the capital to engage in a regular banking business. The now well known banking firm, of which Mr. Poor is the senior partner, was organized in 1880, under the name of Anthony, Poor & Oliphant. They located their office at No. 19 Broad street and attracted important clients from the start. Various transmutations have since occurred in the personnel of the firm. In 1881, they organized as Poor, Oliphant & Co., changed to Poor & Oliphant in 1882, and taking the name of Poor, White & Co., in 1883, upon the addition to it of B. Ogden White, who had been for twenty years the secretary of the New York Stock Exchange. In 1884, the name was again changed to Poor, White & Greenough by accession of John Greenough, a classmate of Mr. Poor in Harvard College, and who formerly had been a leading merchant in the South American business, in which he had accumulated a fortune. In 1886, the name was changed to Poor & Greenough, the title of the present firm. The house has always managed its affairs with prudence, energy and ability and is now prominent in Wall street, both partners being rated as millionaires. It represents a number of important foreign interests and corporations, has extensive English and continental connections, deals largely in railway and other securities, having issued upward of $100,000,000 of railway loans, has borne a part in important railroad reorganizations, and has acted as financial agents of The Louisville, New Albany & Chicago Railway, The New York, Ontario & Western Railway, The Missouri, Kansas & Texas Railway and many other corporations. Mr. Poor purchased a seat in the Stock Exchange, Oct. 2, 1890, and individually has made investments in and been active in the management of a large number of corporations, in which his counsel has been desired. He is at the present time president of The Kansas City & Pacific Railway; an active director of The Missouri, Kansas & Texas Railway; a director of The Bank of the State of New York, and chairman of The Sherman, Shreveport & Southern Railway; and a director of The United States Casualty Co., and the Consolidated Ice Co. He has also been connected at various times with many other corporations in an official capacity.
Banker, stock broker and author. Mr. Poor received a preliminary education in New York city, to which place he was brought when five years old, and graduated from Harvard College in the class of 1865. He entered upon the serious work of his career immediately on graduating, returning to New York city in August of 1865, and has ever since made the metropolis his home. Finding occupation at once as clerk in the then stock brokerage firm of Henry Fitch & Co., he learned in that house all the technicalities of the brokerage business and soon gained sufficient confidence to engage in business on his own account. Any man of receptive and tenacious mind, who is inspired with the least particle of determination not to remain in a rut but to make his own way in the world, will in due time leave a subordinate position and display to the world the sign, which announces that he is in business for himself. Mr. Poor's period of probation was an unusually short one, and in 1868, he established himself in business under the firm name H. V. & H. W. Poor in this city as a dealer in railroad securities. He then associated with himself the Hon. C. E. Habicht, Consul General of Norway and Sweden, in the importation of railroad iron as correspondent of the firm of Tiden, Nordenfelt & Co., of London. Mr. Nordenfelt became the maker of the heavy ordnance known as the "Nordenfelt gun" for the British Government. Mr. Poor's connection with this branch of the business, through the necessity of keeping a record of all railway companies and new construction undertaken by them so that he might be the first in the field in negotiation for the rails needed by them, led to the establishment by him, in 1868, of the now famous annual publication known as "Poor's Railroad Manual," which has ever since filled an important place in the railroad world. Embodying as it does, exhaustive financial information concerning every railway company on the continent, it is an absolute necessity to every manager of an American railroad, every operator in railroad shares and every statistician and writer on economic questions and is as well known in Europe as in this country. Mr. Poor gave extremely close study to the subject to which the Manual was devoted, and soon rose to the position of an authority upon railroad statistics. The firm of H. V. & H. W. Poor is yet in existence at No. 44 Broad street, as publishers of the "Railroad Manual" and other statistical works, Henry W. Poor having been the sole partner, however, since 1883. The period in which Mr. Poor made his entrance into affairs was one of great activity in financial circles. The Civil War had come to an end, railroad building was the order of the day, the country was animated with a spirit of restless enterprise and Wall street became the centre of exciting operations. The firm of H. V. & H. W. Poor prospered from year to year and undertook the construction of several lines of railway, and the junior partner gradually gained the capital to engage in a regular banking business. The now well known banking firm, of which Mr. Poor is the senior partner, was organized in 1880, under the name of Anthony, Poor & Oliphant. They located their office at No. 19 Broad street and attracted important clients from the start. Various transmutations have since occurred in the personnel of the firm. In 1881, they organized as Poor, Oliphant & Co., changed to Poor & Oliphant in 1882, and taking the name of Poor, White & Co., in 1883, upon the addition to it of B. Ogden White, who had been for twenty years the secretary of the New York Stock Exchange. In 1884, the name was again changed to Poor, White & Greenough by accession of John Greenough, a classmate of Mr. Poor in Harvard College, and who formerly had been a leading merchant in the South American business, in which he had accumulated a fortune. In 1886, the name was changed to Poor & Greenough, the title of the present firm. The house has always managed its affairs with prudence, energy and ability and is now prominent in Wall street, both partners being rated as millionaires. It represents a number of important foreign interests and corporations, has extensive English and continental connections, deals largely in railway and other securities, having issued upward of $100,000,000 of railway loans, has borne a part in important railroad reorganizations, and has acted as financial agents of The Louisville, New Albany & Chicago Railway, The New York, Ontario & Western Railway, The Missouri, Kansas & Texas Railway and many other corporations. Mr. Poor purchased a seat in the Stock Exchange, Oct. 2, 1890, and individually has made investments in and been active in the management of a large number of corporations, in which his counsel has been desired. He is at the present time president of The Kansas City & Pacific Railway; an active director of The Missouri, Kansas & Texas Railway; a director of The Bank of the State of New York, and chairman of The Sherman, Shreveport & Southern Railway; and a director of The United States Casualty Co., and the Consolidated Ice Co. He has also been connected at various times with many other corporations in an official capacity.


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