Andrew J. Graham (banker)
Andrew J. Graham | |
|---|---|
| Died | Error: Need valid birth date (second date): year, month, day Chicago, Illinois, U.S. |
| Occupation | Banker |
| Known for | Founder of Graham & Sons; 1911 Chicago mayoral candidate |
Andrew J. Graham was a Chicago-based banker and the founder of the private financial institution Graham & Sons. He made an unsuccessful bid for the Republican nomination in the 1911 Chicago mayoral election.
Graham passed away at the age of 55 on May 1, 1916, several weeks after being poisoned during a dinner commemorating George Mundelein's installation as archbishop of Chicago.
Early life
Graham descended from a family with longstanding ties to Chicago, tracing back to the city's formative period.[1]
Banking career
Around 1889, Graham established Graham & Sons, a private banking firm.[2] By the time of his death in 1916, it had grown to become the largest private bank in the American Midwest.[3] Nevertheless, on June 29, 1917, the bank ceased operations following a bank run prompted by significant withdrawals of liberty bonds.[4] This event drew widespread national media coverage.[5]
The "sons" referenced in the bank’s name were his two sons, Frank and Andrew, who were actively involved in managing the institution.[6]
Under Graham’s guidance, he emerged as one of the foremost private bankers in the United States during that era.[7]
The bank also facilitated the sale of construction bonds that funded the completion of the Morrison Hotel. In January 1916, media reports accused Police Captain Morgan A. Collins of lenient enforcement at hotel venues due to political connections with Graham; Collins had supported Graham’s mayoral bid and was viewed as his favored candidate for Chicago police chief.[8]
1911 mayoral candidacy
Graham held a significant role within the local Democratic Party. In 1911, he campaigned for Chicago mayor with backing from Roger Charles Sullivan and his political organization, receiving support from numerous council Gray Wolves. His platform emphasized reducing municipal expenditures to allow for lower taxes.
Initial betting markets considered Graham a leading contender in the Democratic primary. However, allegations regarding his association with Sullivan eroded his backing during the campaign’s final phase.
Death
On February 12, 1916, Graham was among three individuals poisoned at a University Club of Chicago dinner held in honor of George Mundelein’s archiepiscopal enthronement. Mundelein himself avoided illness by abstaining from soup that evening due to dietary reasons.
The perpetrator, using the pseudonym "Jean Crones," was identified as Nestor Dondoglio, linked to anarchist Galleanist factions and motivated by anti-religious sentiments. Although formally charged, he was never apprehended. Following weeks of illness caused by the poisoning, Graham died on May 1 at his residence on Chicago’s West Side at age 55. His death was attributed to complications involving kidney and heart conditions.
His estate, valued at $3 million, was bequeathed entirely to his widow. Both spouses maintained substantial life insurance coverage; Graham’s beneficiaries received $434,599—ranking as the fourth-largest single-life insurance payout nationwide in 1916 and one of only sixteen claims exceeding $250,000 that year.
Personal life and family
Graham’s wife, Minnie Padden Graham, was an active proponent of women's suffrage and sought greater political involvement for women.
One son, Joseph W. Graham Sr., married Eleanor Duffy, daughter of Chicago construction tycoon Joseph J. Duffy. Their son, Joseph W. Graham Jr. (1922–2002), pursued a career in real estate and politics in Anchorage, Alaska, serving on the Anchorage Assembly during the 1970s.
Another son, Ralph Richard Graham, wed Ethel Lorimer in 1911; she was the daughter of U.S. Senator William Lorimer.
Jarlath John Graham Sr., also a son, married Isabel Corboy and fathered four children including Jarlath John Jr. ("Jack"), who worked within Chicago’s news publishing sector. Jarlath Jr. served as editor of Advertising Age from 1954 to 1975 before taking executive positions at Crain between 1975 and 1985. He was married to Elizabeth Carlson, former head librarian at Advertising Age. Isabelle, daughter of Jarlath Sr. and a journalist for The Washington Star, married newspaperman Willard E. Shelton.