Moses Taylor Life and Times

Moses Taylor was a successful American businessman and philanthropist, best known for his role as the president of the Bank of North America.

He was born in 1806 in New York City to a family of modest means, but his father was a successful merchant who helped Moses get his start in business.

Moses Taylor's business career spanned over four decades, during which he was involved in various industries including shipping, railroads, and banking.

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Moses Taylor was born on January 11, 1806, to Jacob B. Taylor and Martha (née Brant) Taylor. His father's close association with John Jacob Astor provided an early advantage for Moses.

Moses's father acted as Astor's agent, purchasing New York real estate while concealing Astor's interest. This connection likely gave Moses a leg up in his future business endeavors.

By 1832, Moses had amassed enough wealth to leave the Howland company and start his own business as a sugar broker.

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Moses Taylor was born on January 11, 1806, to Jacob B. Taylor and Martha (née Brant) Taylor.

His father, Jacob, was a close associate of John Jacob Astor and acted as his agent by purchasing New York real estate while concealing Astor's interest.

Astor's relationship with the Taylor family provided Moses with an early advantage.

Moses held an interest in the New York, Newfoundland, and London Telegraph Company, which was founded by Cyrus West Field in 1854.

After several failed attempts, the first transatlantic telegraph cable was finally successful in 1866.

Taylor's father, Jacob, worked closely with Astor, who was another very rich businessman, and this connection helped Moses get a good start in life.

By 1832, Moses had enough money to leave the Howland company and start his own business as a sugar broker.

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Moses Taylor was married to Catharine Anne Wilson (1810–1892) and had five children together. They were a close-knit family and were known for their strong relationships.

One of their children, Albertina Shelton Taylor, married Percy Rivington Pyne in 1855. Percy Pyne worked for Moses and became president of City Bank after Moses died.

Moses Taylor's children went on to lead successful lives and become important members of New York society. Many of them married into prominent families and played a significant role in shaping the city's social landscape.

Here is a list of Moses Taylor's children:

Moses Taylor left his large fortune to his wife and children, who went on to become influential figures in New York society.

Moses Taylor's career was marked by shrewd business decisions and calculated risks. He started out in the sugar trade, but soon discovered that giving loans and making investments could earn him just as much, if not more, money.

By the 1840s, most of his income came from interest on loans and investments. This was a savvy move, as it allowed him to diversify his wealth and reduce his reliance on a single industry.

Taylor's connections in the financial world grew significantly during the Panic of 1837. He doubled his fortune during this time and brought his growing network to the City Bank of New York, which he later became president of.

As president, Taylor operated the bank largely in support of his own businesses and investments. This was a common practice at the time, but it also raised questions about the bank's impartiality.

Taylor invested heavily in iron and coal in the 1850s, and began purchasing interest in the Delaware, Lackawanna & Western railroad. His gamble paid off when the railroad's shares skyrocketed in value after the Panic of 1857.

By 1865, Taylor held 20,000 shares of the D.L. & W railroad, worth almost $50 million. This was an astonishing sum, and a testament to Taylor's business acumen.

Taylor also had a controlling interest in two of the seven gas companies in Manhattan, which were later merged to form the Consolidated Gas Company. His descendants remained some of the largest individual shareholders of Consolidated Edison for years to come.

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Moses Taylor was a successful businessman who left a lasting legacy in the financial world. He was the president of National City Bank from 1855 until his death in 1882.

Taylor's greatest achievement was developing City Bank into one of the largest and most important financial institutions in New York City. This foundation continued to grow in size and influence throughout the 20th century, eventually becoming Citibank, one of the world's leading financial institutions.

At the end of his life, Taylor donated $250,000 to build a hospital in Scranton, Pennsylvania, to benefit his iron and coal workers and those of the D. L. & W railroad. This hospital, the Moses Taylor hospital, still operates today.

Taylor's business positions included serving as the president of National City Bank from 1855-1882, succeeding Gorham A. Worth and being succeeded by Percy Pyne.

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Moses Taylor was involved in New York politics, particularly with Boss Tweed and Tammany Hall. He even signed a report praising Tweed's financial manager for being honest in 1871.

Taylor's real estate holdings in New York brought him close to Boss Tweed, a powerful political leader. This connection likely played a role in his involvement with Tammany Hall.

New York Politics was a complex web of power and influence in the late 19th century. Moses Taylor, a wealthy businessman, was closely associated with Boss Tweed and Tammany Hall.

Moses Taylor's real estate holdings in New York brought him into close association with Boss Tweed. This connection was likely beneficial for his business interests.

In 1871, Taylor signed a report praising Tweed's controller for his honesty and integrity. This report was considered a notorious whitewash, attempting to cover up problems.

Taylor's involvement with Tammany Hall was not an isolated incident. He was part of a committee made up of New York's most influential and successful businessmen, which further solidified his ties to the organization.

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The scope of organizational politics can be quite broad, covering everything from formal structures to informal relationships.

A company's organizational chart is a fundamental tool for understanding its scope and arrangement, typically outlining roles, responsibilities, and lines of authority.

In a hierarchical organization, decision-making power is often concentrated at the top, with lower-level employees having limited autonomy.

Decentralized organizations, on the other hand, empower employees to make decisions and take ownership of their work, promoting a more collaborative and flexible work environment.

A company's formal structure can be influenced by its culture, with some organizations prioritizing tradition and stability over innovation and adaptability.

The arrangement of an organization's departments and teams can also impact its overall effectiveness, with some companies grouping similar functions together while others create more specialized units.

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