Rash's Surname Index
Notes for Anthony Joseph DREXEL
Drexel, Anthony Joseph, financier, was born in Philadelphia, Pa., Sept. 13, 1826; second son of Francis Martin Drexel. His father, born in Dornbion, Austrian Tyrol, April 7, 1792, immigrated to America in 1817, followed his vocation of portrait painter in Philadelphia, Peru, Chili and Mexico, and in 1837 founded the banking house of Drexel & Co. in Philadelphia. He died in Philadelphia, Pa., June 5,1863. Anthony was educated in the banking house by his father from his thirteenth year and with his elder brother Francis A., and his younger brother, Joseph Wilhelm, succeeded to the business on the death of his father. In 1864 he joined George W. Childs in the purchase of the Philadelphia Public Ledger and their partnership and close friendship was ended only by Mr. Drexel's death. They formed the banking house of Drexel, Morgan & Co., New York city, and Drexel, Horjes & Co., Paris. In 1876 they united with the Rothschilds and others in a syndicate which marketed $300,000,000 of 4-1/2 per cent U.S. bonds and in 1878, $50,000,000 additional. In 1879 the house bought outright $15,000,000 worth of New York Central railroad stock; and in 1886 managed the sale of $20,000,000 of bonds of the Nashville & Louisville railroad company. They purchased $40,000,000
of the bonds of the Northern Pacific railroad and in 1891 with Brown Brothers negotiated a loan of $9,500,000 for the Philadelphia & Reading railroad. He established in Philadelphia the Drexel institute of art, science and industry, dedicated Dec. 17, 1891, at a cost of $750,000, and endowed it with a
fund of $1,000,000, to which sum he subsequently added $1,000,000. The institute was built to accommodate 2000 pupils. He also rounded, in connection with George William Childs, the Childs-Drexel home for aged printers at Colorado Springs, Col., dedicated May 12, 1892. He married a daughter of John Roset of Philadelphia and had three sons, Anthony Joseph, Jr., John R., and George W. Childs Drexel, and one daughter, Mrs. Alexander Van Rensselaer. He died in Carlsbad, Bohemia, June 30, 1893.
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