Charles R. Gay
Charles Richard Gay | |
|---|---|
| Born | Template:Birth date Brooklyn, New York, U.S. |
| Died | March 23, 1946 (aged 70) |
| Occupation | Financier |
| Known for | President of the New York Stock Exchange |
Charles Richard Gay (September 14, 1875 – March 23, 1946) was a prominent American financier who held the position of president of the New York Stock Exchange.
Early life
Born in Brooklyn on September 14, 1875, Gay was the son of Charles Abram Gay and Anna Mitchell (née Campbell) Gay. His younger sibling, Robert Malcolm Gay, gained recognition as an English scholar. He received his education at Brooklyn Public School 35 and subsequently attended the Brooklyn Polytechnic Institute, which is currently incorporated into the New York University Tandon School of Engineering.
Career
Gay's professional journey began in sectors such as fire insurance, banking, and wholesale coal distribution. In 1911, he acquired a seat on the New York Stock Exchange, and by 1915 he had established the brokerage firm Gay & Goepel. The firm, renamed Charles R. Gay & Co., merged in 1919 with Whitehouse & Co., one of the Exchange's oldest brokerage houses.
By 1935, Gay was serving as senior partner at Whitehouse & Co., headquartered at 1 Wall Street. That year, he was appointed president of the Exchange, taking over from Richard Whitney. He held this leadership role for three consecutive terms until May 1938, navigating through a particularly turbulent phase for financial markets. Throughout his tenure, Gay maintained active communication with the Securities and Exchange Commission and congressional committees to tackle issues related to regulation and market liquidity.
After concluding his presidency, he assumed leadership of Winthrop, Whitehouse & Co., a securities firm founded in 1828. At the time of his passing, he also served on the board of directors for the Dime Savings Bank.
Personal life
In 1898, Charles R. Gay married Jennie Campbell Bowdish, daughter of Reverend Wellesley Wellington Bowdish and Jennie Elizabeth (née Campbell). The couple made their home in Flatbush, Brooklyn. They had one son:
- William Campbell Gay, who was affiliated with the New York Stock Exchange and resided in Halesite on Long Island. He was married to Evelyn W. Sherman.
Charles R. Gay contributed to his community as a trustee of Brooklyn Methodist Hospital and St. Mark's Methodist Episcopal Church in Brooklyn. Additionally, he served on Dickinson College’s board in Carlisle, Pennsylvania, and was actively involved with both the Flatbush Boys Club and the YMCA.
He passed away at Methodist Hospital in Brooklyn on March 23, 1946. A memorial service honoring him took place at Trinity Church in Manhattan.