James A. Stillman
James Alexander Stillman | |
|---|---|
| Born | Template:Birth date New York City, U.S. |
| Died | January 13, 1944 (aged 70) |
| Occupation | Banker |
| Known for | President and chairman of National City Bank |
James Alexander Stillman (August 18, 1873 – January 13, 1944) served as the president of National City Bank.
Biography
James Alexander Stillman was born in New York City to banker James Jewett Stillman and Sarah Elizabeth Rumrill. He was the grandson of Charles Stillman, the founder of Brownsville, Texas. He completed his studies at Harvard University in 1896.
Career
After the passing of his father in 1918, who held the position of chairman at National City Bank, Stillman entered into a power struggle with Frank A. Vanderlip over control of the institution. Vanderlip stepped down in 1919, allowing Stillman to assume the role of chairman. At that time, his father's estate was estimated at around $45 million. During his tenure, Stillman advocated for prudent communication about economic matters to help preserve market confidence.
He remained chairman for three years before stepping down due to personal difficulties connected to his divorce. In 1921, he sold 5,000 city lots in Brownsville, Texas—part of the inheritance from his grandfather—worth more than $1.5 million.
Personal life
In 1901, he wed Anne "Fifi" Urquhart Potter, daughter of James Brown Potter. They had four offspring: Anne Stillman (who married Henry P. Davison Jr.), James "Bud" Alexander Stillman Jr. (a medical doctor in the U.S. Army Medical Corps), Alexander Stillman (a U.S. Navy Lieutenant and former assistant cashier at National City Bank), and Guy Stillman (also a U.S. Navy Lieutenant).
In 1921, he initiated divorce proceedings, accusing his wife of infidelity and alleging that their youngest child was fathered by a superintendent managing his Quebec property. Fifi denied these claims and countered by accusing him of fathering a child with chorus girl Florence H. Leeds. He later recognized this son in 1926, establishing a trust fund providing $20,000 annually until age 21, after which $150,000 would be available.
The divorce petition was initially rejected due to his own misconduct. His wife filed for divorce but retracted it after receiving a $500,000 necklace. The couple sought therapy from Carl Jung while in Europe. Ultimately, he accepted paternity of Guy, incurring legal expenses exceeding $1 million; however, they reconciled in 1926. Fifi finalized their divorce in 1931 and subsequently married Fowler McCormick, a friend of their son Bud.
He passed away on January 13, 1944, shortly before traveling to his winter residence in Havana, Cuba. His estate was distributed among his four children, with an additional legacy left to Bernard E. Smith, executor of the estate.