Salomon Loeb

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Salomon (Solomon) Loeb (born June 29, 1828 in Worms , † December 12, 1903 in New York ) was an American businessman , banker and philanthropist .

Life

Salomon Loeb was born into a Jewish family in Worms. The father was a small grain and wine dealer. Loeb emigrated to the USA in 1849. He settled in Cincinnati , where his mother's relatives had founded a textile wholesaler with Abraham Kuhn , and joined their company Kuhn, Netter & Co. He was successful and was able to marry Abraham Kuhn's sister Fanny Kuhn; However, his wife died shortly after the birth of their daughter Therese in 1854. Salomon Loeb remarried in 1862. Betty Gallenberg, whom he met in Mannheim, was a trained musician and pianist. They had four children, Morris, Guta, James and Nina.

The company expanded and while Kuhn took care of production in Cincinnati, Salomon Loeb took over sales on the east coast from New York . In particular, the supply of the Union Army during the civil war was very profitable and made the two partners familiar with the financing business. After the end of the war, Kuhn and Loeb founded the investment bank Kuhn, Loeb & Co. in New York on February 1, 1867. Loeb 's assets of $ 600,000 formed the start-up capital of the bank at the time. The bank began trading government bonds , but later excelled in financing the American rail industry. After the death of his wife (1869), Kuhn withdrew to Germany with his daughters. Jakob Heinrich Schiff , who married Salomon Loeb's daughter Therese in 1875, joined the bank as a partner in the same year. His more aggressive corporate style did not mix well with Salomon Loeb's views for long. Loeb withdrew from active management, but remained in the bank as a limited partner until 1899. At the age of seventy he began to take an intense interest in real estate. He took care of the administration of his commercial buildings himself. He also devoted himself to philanthropic interests until his death. Jewish charities in particular received large donations .

family

  • First wife: Fanny, (Fannie?) Kuhn, sister of Abraham Kuhn.
One daughter, Therese (born November 6, 1854). Fanny Kuhn died with her child in childbed not long after Theresa was born. Two of Therese's children died very early.
  • Second wife: Betty Gallenberg, whom he met in Mannheim in 1862. They married on July 14, 1862. Betty Loeb died a year before her husband, in September 1902.
Children of Salomon Loeb and Betty Loeb: Morris, Guta, James and Nina.
Morris Loeb (born May 23, 1863, Cincinnati; † 1912), professor of chemistry. He married Eda Kuhn (1867–1951) from Cincinnati in 1895. Parents: Samuel and Regina (Wise) Kuhn. Samuel Kuhn was a brother of Abraham Kuhn.
Guta Loeb (born September 5, 1865, New York) married Isaac N. Seligman, a grandson of David Seligman.
James (Jimmy) Loeb (born August 6, 1867, New York; † May 27, 1933, Murnau), banker at Kuhn, Loeb & Co. (1888–1901) and private scholar, art collector, patron;
Nina Loeb (* 1870 - † 1945), married Paul M (Oritz) Warburg in 1895 .
  • Therese L. Schiff's daughter Frieda Schiff married Felix M (Oritz) Warburg in 1895 .
  • Abraham Kuhn's wife was a sister of Salomon Loeb.

literature

  • Naomi Wiener Cohen: Jacob H. Schiff: A Study in American Jewish Leadership . In: Brandeis series in American Jewish history, culture, and life . University Press of New England, Hanover, NH 1999, ISBN 0-87451-948-9 , pp. 5 (English, 320 pp., Limited preview in Google Book Search).
  • James Loeb: Our Father: A Memorandum for Salomon Loeb [ Our Father: A Memorial , private print, 1929]. In: James Loeb 1867-1933; Art collector and patron , edited by Brigitte Salmen, for the Murnau Castle Museum (ed.), Murnau, 2000, pp. 9-16.
  • Geisst: The Last Partnerships: Inside the Great Wall Street Dynasties . McGraw Hill Professional, New York 2001, ISBN 0-07-136999-6 , pp. 55 (English, 338 p., Limited preview in Google book search).
  • Elinor and Robert Slater (Eds.): Great Jewish Men . Jonathan David Company, Inc., Middle Village, NY 1996, ISBN 0-8246-0381-8 , pp. 274 (English, 400 p., Limited preview in Google book search).

Remarks

  1. ↑ John F. Oppenheimer (Red.) And a .: Lexicon of Judaism. 2nd Edition. Bertelsmann Lexikon Verlag, Gütersloh u. a. 1971, ISBN 3-570-05964-2 , Sp. 443.
  2. ↑ Sometimes Goldberg . Gallenberg calls them Stephen Birmingham, Our Crowd and James Loeb's biographical essay about his father ( James Loeb, 1887-1993 , p. 10)

Web links

personal data
SURNAME Loeb, Solomon
ALTERNATIVE NAMES Loeb Solomon
BRIEF DESCRIPTION American banker and philanthropist
DATE OF BIRTH June 29, 1828
PLACE OF BIRTH Worms
DATE OF DEATH December 12, 1903
Place of death new York