Frank A. Vanderlip
| Frank Arthur Vanderlip, Sr. | |
|---|---|
 | |
| Born | November 13, 1864 |
| Died |
June 30, 1937 (aged 72) New York Hospital, Manhattan, New York |
| Occupation | President of the City National Bank of New York |
| Known for | Founding Father of Palos Verdes |
| Spouse(s) | Mabel Narcissa Cox (m. 1903–37) |
| Children | Narcissa Vanderlip, Charlotte Vanderlip, Frank Arthur Vanderlip, Jr., Virginia Vanderlip, Kelvin Vanderlip, and John Vanderlip[1] |
| Parents |
Edmond Vanderlip Louise Woodworth |
Frank Arthur Vanderlip, Sr. (November 17, 1864 – June 30, 1937) was an American banker. He was Assistant Secretary of the Treasury and was president of the National City Bank from 1909 to 1919.[2]
Biography
He was born on November 17, 1864 to Charles Edmond Vanderlip and Charlotte Louise Woodworth.
From 1897-1901, Vanderlip was the Assistant Secretary of Treasury for President of the United States William McKinley's second term. In that office he negotiated with National City Bank a $200 million loan to the government to finance the Spanish American War. Thereafter he was vice president and then president of National City Bank of New York (1909–19).
He married Mabel Narcissa Cox on May 19, 1903 in Chicago, Illinois.
In November, 1910, he was a member of the Jekyll Island group, a group of bankers that are believed to have formulated the outline to a plan that influenced the drafting of the eventual Federal Reserve Act.
In the final month and a half before the Act's enactment on December 23, 1913, Vanderlip's alternative plan for a Federal Reserve Act nearly derailed the one that President Wilson and the Democratic leadership were promoting.[3][4]
He died on June 30, 1937 at age 72 in New York Hospital.[2]
Legacy
Vanderlip known as the "Father of Palos Verdes" purchased the 16,000 acre Rancho de los Palos Verdes from Jotham Bixby in 1913. In 1916, he built the Vanderlip estates near the Portuguese Bend area of Palos Verdes, California. His descendants still live in the mansion and on other parts of the property.[5][6] His daughter-in-law Elin Vanderlip maintained residence at the estate until her death in 2009 and her ashes are spread on the grounds. The Vanderlips championed many of the landmarks in Rancho Palos Verdes, notably Wayfarer’s Chapel, Marineland of the Pacific, Portuguese Bend Riding Club, Portuguese Bend Beach Club, Nansen Field, Marymount College and Chadwick School.[7]
References
- ↑ http://www.southbaydigs.com/property-details.php?property_ID=15
- ↑ 2.0 2.1 "Frank Vanderlip, Banker, Dies At 72. Former Head of National City Had Served as Assistant Secretary of Treasury". New York Times. June 30, 1937. Retrieved 2012-09-16. "Frank A. Vanderlip, former Assistant Secretary of the Treasury, who was president of the National City Bank from 1909 to 1919, died yesterday afternoon in New York Hospital, where he had been a patient for the last two weeks. He was 72 years old."
- ↑ New York Times article, November 7, 1913
- ↑ Historical Beginnings... The Federal Reserve] by Roger T. Johnson, Federal Reserve Bank of Boston, 1999, pp. 32-33.
- ↑ http://wikimapia.org/5540995/Vanderlip-Mansion
- ↑ http://www.pvnews.com/articles/2008/06/19/society/society1.txt
- ↑ http://palosverdes.patch.com/articles/elin-vanderlip-the-chatelaine-of-rancho-palos-verdes
External links
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Wikimedia Commons has media related to Frank A. Vanderlip. |
- Walter Hines Page, Arthur Wilson Page (1902). The World's Work .... Doubleday, Page & Company., 1902 magazine article in The World's Work.
| Business positions | ||
|---|---|---|
| Preceded by James Stillman |
Chief of National City Bank 1918–1919 (President with acting duties as Chairman) |
Succeeded by James A. Stillman |
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