Francis Anthony Drexel
Francis Anthony Drexel | |
|---|---|
| Born | Template:Birth date Philadelphia, Pennsylvania, U.S. |
| Died | February 15, 1885 (aged 60) Philadelphia, Pennsylvania, U.S. |
| Occupation(s) | Banker, philanthropist |
| Known for | Senior partner at Drexel & Co., philanthropy in Philadelphia |
Francis Anthony Drexel (June 20, 1824 – February 15, 1885) was a prominent banker and philanthropist based in Philadelphia. As the eldest son of financier Francis Martin Drexel, he assumed the role of senior partner at Drexel & Co. following his father’s passing.
Early life
Born on June 20, 1824, on 6th Street in Philadelphia, Francis Anthony Drexel was the firstborn child of Francis Martin Drexel and Catherine (née Hookey). His siblings included younger brothers Anthony Joseph Drexel and Joseph William Drexel.
Career
Initially a portrait artist, his father shifted to exchange brokerage in 1837, acquiring expertise in foreign exchange through extensive travels.
At the age of thirteen, Francis Anthony entered the family enterprise as a clerk and night watchman, supplementing his earnings by playing the organ at St. John's Church in Manayunk. His brothers Anthony and Joseph later became partners, establishing Drexel & Co. in 1847 with branches in Philadelphia, New York, San Francisco, London, and Paris. The company provided financial backing for significant endeavors such as the Mexican–American War, the California Gold Rush, the Union Army during the Civil War, and various Industrial Revolution projects.
Following their father’s death in 1863, Francis Anthony took on the senior partner position but entrusted day-to-day leadership to his brother Anthony. Known for his quiet demeanor, Francis oversaw office management and accounting responsibilities.
Personal life
In 1854, Drexel married Hannah Jane Langstroth (1826–1858), daughter of Piscator and Elizabeth (née Lehman) Langstroth. They had two daughters before Hannah passed away five weeks after their second child’s birth:
- Elizabeth Langstroth Drexel (1855–1890), who wed Walter George Smith (1854–1924), son of Gen. Thomas Kilby Smith, in January 1890; she died from puerperal convulsions later that September.
- Catherine Mary Drexel (1858–1955), who entered religious life as a nun, founded the Sisters of the Blessed Sacrament, adopted the name Mother Katharine, and was eventually canonized as a Catholic saint.
Drexel remarried in 1860 to Emma Mary Bouvier (1833–1883), daughter of Louise (née Vernou) Bouvier and Michel Bouvier—a French cabinetmaker who immigrated to Philadelphia in 1815. Emma was aunt to John Vernou Bouvier Jr., grandfather of Jacqueline Kennedy Onassis. They had one daughter:
- Louise Bouvier Drexel (1863–1945), who married Edward de Veaux Morrell (1862–1917), later a U.S. Representative, in 1889.
He owned a country estate in Torresdale near Philadelphia that served as a seasonal home while he commuted by train to his office. This property was situated near the Motherhouse of the Sisters of the Sacred Heart, where Emma’s sister, Mother Louis Bouvier, lived for some time.
Emma died at their Philadelphia residence in January 1883 prior to Francis Anthony’s passing on February 15, 1885, at his home located at 1503 Walnut Street. His funeral took place at St. Mary's Catholic Church, followed by burial in the Drexel family vault at the Sisters of the Blessed Sacrament Cemetery. His fortune, estimated at $15 million, was allocated with ten percent given to charitable causes and the remainder held in trust for his three daughters.
Philanthropy
Francis Drexel actively supported the charitable initiatives led by his wife, Emma, who dedicated three days each week to distributing essentials such as food, clothing, medicine, and rent aid to impoverished families from their residence. Their annual contributions to these efforts amounted to approximately $30,000, which included covering rent expenses for around 150 households. A significant portion of the donated goods were crafted by Magdalens residing at the Convent of the Good Shepherd, thereby benefiting both the creators and recipients.
In addition, Drexel was a benefactor of Eden Hall, the Torresdale convent affiliated with the Society of the Sacred Heart, where Emma had previously been a student. She held the distinction of being the inaugural president of its alumnae group, Les Enfants de Marie du Monde. Following Emma’s passing in 1883, Drexel funded the construction of a Lady chapel and crypt at Eden Hall and provided marble side altars for Sacred Heart Church located in Wilmington, Delaware.
Together with his brother Anthony, Francis financed the Francis M. Drexel Memorial Fountain situated in Chicago’s Drexel Square as a tribute to their father. His philanthropic legacy also included donations to Saint Joseph's College; the House of the Good Shepherd; German Hospital of Philadelphia—where his brother-in-law served as a trustee; St. John's Orphan Asylum for Boys; and St. Joseph's Female Orphan Asylum, on whose board he was a member. La Salle College was another recipient; it relocated in 1886 to the former mansion of his father-in-law, Michel Bouvier. Additional beneficiaries encompassed the Society of Jesus, Christian Brothers, Religious of the Sacred Heart, and restoration projects for Old St. Joseph's Church.
Legacy
Saint Joseph's University honors Francis A. Drexel through its library bearing his name. In accordance with their father's testament, his daughters Elizabeth and Louise founded the St. Francis Industrial School in Eddington, Pennsylvania. They also established an endowed position known as the Francis A. Drexel Chair of Moral Theology at the Catholic University of America.