Charles Handy Russell
Charles Handy Russell | |
|---|---|
| Born | Error: Invalid birth date for calculating age Newport, Rhode Island, U.S. |
| Died | 21 January 1884 (aged 87) New York City, New York, U.S. |
| Occupation(s) | Businessman, financier |
| Known for | National Bank of Commerce in New York, banking and railroad interests |
Charles Handy Russell (September 13, 1796 – January 21, 1884) was a distinguished American businessman and financier associated with the National Bank of Commerce in New York.
Early life
Born in Newport, Rhode Island, Russell was the third offspring of Ann (née Handy) Russell and Major Thomas Russell, an officer in the Continental Army serving under the Marquis de Lafayette and a descendant of Elder William Brewster, one of the Mayflower voyagers. His maternal grandfather, Charles Handy, was a prominent merchant and landowner in Newport.[1] Through his uncle Jonathan Russell, he was related to Jonathan Russell, a Massachusetts U.S. Representative and U.S. Minister to Stockholm who played a role in negotiating the Treaty of Ghent that concluded the War of 1812.[2]
Following his father's passing in 1801, his mother relocated the family to Bristol, Rhode Island. After her death in 1807, Russell and his brother were placed under the guardianship of Reverend Alexander V. Griswold, who later became Presiding Bishop of the Episcopal Church. He received his education at Bristol Academy.[2]
Career
Russell's career commenced as a clerk for Charles Potter. In 1813, Potter formed a partnership with Elisha Dyer under the firm Dyer & Potter, appointing Russell as their agent in Providence. When this partnership dissolved, Russell resumed working as Potter’s European representative. In 1817, he and his brother William Henry launched their own dry goods enterprise. The following year, he rejoined forces with Potter through Charles Potter & Company. By 1820, the firm evolved into Potter & Russell, with Russell initially holding a two-fifths stake that increased to half upon his return from Europe in 1821. During Lafayette's 1824 visit to America, Russell played host to him in Providence. In 1825, he opened a New York branch named Potter, Russell & Co., while his brother managed operations in Europe. This partnership ended in 1826; Potter continued business in Providence while Charles and William established Charles H. Russell & Co.. He retired from business activities in 1845.
Banking and railroad interests
In 1819, Russell contributed to founding the Providence Institution for Savings. He was also instrumental in creating the Bank of Commerce and held its presidency from March 1866 until June 1868. During his tenure, the bank’s combined capital, surplus, and reserved earnings surpassed $14 million. Additionally, he served on the boards of directors for several transportation enterprises including the Boston and Providence Railroad, Hudson River Railroad, New York Central Railroad, and the Pacific Mail Steamboat Company.
Personal life
On April 13, 1818, Russell wed Ann Rodman (1787–1842), daughter of Captain William Rodman from Providence and sister-in-law to Charles Potter. Their union produced four children: Eliza Rodman Russell (who married Robert Swartwout Hone), Anna Rodman Russell (who remained unmarried), Cora Russell (who died during infancy), and Frances "Fanny" Geraldine Russell (also unmarried).
Following Ann’s death, he married Caroline Howland on October 29, 1850. Caroline was the daughter of Samuel Shaw Howland of Howland & Aspinwall and inherited approximately $250,000. Her family included notable personalities such as Joseph Howland and architect Richard Morris Hunt. Together Charles and Caroline had seven children, two of whom died as infants:
- Charles Howland Russell (1851–1921), who served as private secretary to Secretary of State William M. Evarts; he married Jane Brinsmade Potter.
- Samuel Howland Russell (1853–1892), a civil engineer; married Elizabeth Waters Garrettson.
- Caroline Alice Russell (1854–1919), who married Swedish nobleman Claes Lagergren.
- Joanna Hone Russell (1856–1933), who wed John Winthrop Auchincloss.
- Mary Grace Russell (1858–1931), married to William Strother Jones IV.
In 1836, Russell acquired an extensive estate in Newport known as Oaklawn and constructed a residence there in 1853 which was later expanded in 1862.
His second wife passed away in 1863, leaving six young children under the care of Fanny from his first marriage. Charles Handy Russell died on January 21, 1884, at his home on Fifth Avenue in New York City and was interred at Island Cemetery in Newport. Oaklawn was sold to James Stillman in 1892; it stayed within the Rockefeller family until it was demolished in 1922 to make way for "Bois Doré" built in 1926.
Descendants
His lineage continued through his son Charles, who fathered Charles Howland Russell Jr. (1891–1965). Charles Jr. wed Ethel King, the daughter of LeRoy King—himself a descendant of Peter Stuyvesant—and Ethel Ledyard (née Rhinelander) King, who was the offspring of Frederic W. Rhinelander and sister to Frederic Rhinelander King.
From his daughter Joanna came Joseph Howland Auchincloss (1886–1968), making him the grandfather, and subsequently the great-grandfather to the attorney and author Louis Stanton Auchincloss (1917–2010).
References
- Notes
- Sources
External links
- Memoir of Charles H. Russell, 1796-1884 authored by Charles Howland Russell (1903)