William Thaw

William Thaw

William Thaw (October 12, 1818 - August 17, 1889) was an American businessman who made his fortune in transportation and banking.

Biography

Born in Pittsburgh, Pennsylvania, he launched a career as clerk in his father, John Thaw's (United States Bank of Philadelphia) Pittsburgh branch, and soon switched to McKee, Clark and Co.

In 1841, William Thaw married Eliza Burd Blair. In 1842, he and his brother-in-law (Clarke) owned steam canal boats, particularly the Pennsylvania and Ohio line. Their company added canal, portage railroad and other steamboat lines.

With the rise of the railroad, William Thaw divested the canal business and invested in the new Pennsylvania Company, which managed interests of the Pennsylvania Railroad, in which he was a large shareholder.

William Thaw also helped to establish the first international steamship line, the Red Star Line, to which was later added the American Line.

William Thaw also founded the East St. Louis and Interurban Water Company.

Philanthropy

William Thaw endowed science fellowships at Harvard University and Princeton University and bestowed lavish gifts on art and education. He underwrote the building of the Allegheny Observatory for John Brashear, considered at the time one of the ten best in the world.

Legacy

He is considered to have been one of the 100 wealthiest Americans, having left an enormous fortune. [http://www.scottwinslow.com/2002/wealthy.asp]

References

* [http://profilesintime.blogspot.com/2007/02/benjamin-thaw.html Biography of William Thaw]


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