Leonard Jerome

Leonard Walter Jerome (November 3, 1817 – March 3, 1891) was a Brooklyn, New York, financier and grandfather of Winston Churchill.

Early Life and background

Leonard Jerome was the son of Aurora Murray and Isaac Jerome. Descendant of Timothy Jerome a Huguenot (member of Protestant Reformed Church of France, known historically as the French Calvinists). Leonard was born on a farm in upstate Pompey, New York, and went on to study law, graduating from Union College. He set up practice in Rochester, New York. He later moved to New York City where he became a notable and flamboyant stock market speculator and promoter.

It has been erroneously reported that Leonard Jerome acquired a majority shareholding in the New York Times newspaper, though in actuality the New York Times was founded in 1851 by Henry Jarvis Raymond and George Jones, and later acquired by Adolph Ochs in 1896. He was known as a flamboyant and successful stock speculator, having made and lost several fortunes, he was known as "The King of Wall Street". He had pecuniary interests in a number of railway companies. A patron of the arts, he was the founder of Manhattan's Academy of Music.

Leonard Jerome was also an avid sportsman and enjoyed yachting with his friend, William K. Vanderbilt. They both had a special passion for thoroughbred horse racing and helped found the American Jockey Club. In the purchasing of The Bathgate estate and mansion near Old Fordham Village in Westchester County, Jerome was instrumental in building the Jerome Park Racetrack in what is now The Bronx in conjunction with fellow financier August Belmont, Sr. where the first Belmont Stakes was held in 1867. A resident of Brooklyn, along with William K. Vanderbilt and other investors, he founded the Coney Island Jockey Club which in 1884 built the Sheepshead Bay Race Track.

Marriage and family

In 1849, he married Clara Hall (1825-1895) with whom he had three lovely daughters who were acclaimed wherever they went, becoming known as 'the Good, the Witty and the Beautiful.' Being very close to her father, in his personal interests, Jennie Jerome ('the beautiful') married Lord Randolph Henry Spencer-Churchill (February 13, 1849 – January 24, 1895), younger son of the Duke of Marlborough and was mother to Winston Churchill. Clara Jerome ('the good') married Moreton Frewen (1853-1924), who had squandered his capital on gambling, sports and women, while Leonie Jerome ('the witty') married Irish Baronet Sir John Leslie, 2nd Bt. (1857-1944). They had 4 sons including Shane Leslie. Leonard Jerome's wealth afforded his daughters the opportunity to spend much time in Europe where they associated with the aristocratic elite of the day. On the Isle of Wight, Jennie Jerome met and later married Lord Randolph Churchill, son of the Duke of Marlborough. They gave Leonard Jerome two grandsons, including Winston Churchill who became Prime Minister of the United Kingdom.

The Jerome Mansion, on the corner of Madison Avenue and 26th Street had a full theatre and lovely view of Madison Square Park. It was later sold and housed a series of private clubs. Some of the funds from the sale helped support the country lifestyle of Winston Churchill prior to his rise to power. The mansion was torn down in 1967. Jerome Avenue in Brooklyn is named in Leonard Jerome's memory, as is Jerome Avenue in the Bronx. In the Bronx, The Old Bathgate mansion served as a summer home for the Jerome Family and friends. Built on the estate, Jerome Park was once the site of a horse racing track, which was replaced by the Jerome Park Reservoir, In the early 1900's, The old Bathgate mansion would later be razed and replaced by The Kingsbridge Amory . The New York City Transit Authority's #4 Train, the Lexington Avenue-Jerome Avenue Express, runs past one of New York's famous landmarks, Yankee Stadium, located between Jerome Avenue and River at 161st Street.

Leonard Jerome died at the age of 73 in Brighton, England. His body was brought home for interment in the Green-Wood Cemetery in Brooklyn.

References

* McNamara, John "History in Asphalt: The Origin of Bronx Street and Place Names" (1993) Bronx County Historical Society ISBN 978-0941980166