Nathaniel Prime

Nathaniel Prime
Born	Rowley, Massachusetts, U.S.
Died	November 26, 1840(1840-11-26) (aged 72)
Occupation(s)	Broker, banker
Years active	1796–1832
Known for	Founder of Prime, Ward & King banking firm

Nathaniel Prime (January 30, 1768 – November 26, 1840) was a prominent broker and banker based in New York.

Early life

Born to Joshua and Bridget Hammond Prime in Rowley, Massachusetts, Prime initially served as a coachman for Boston merchant William Gray. He relocated to New York City in 1795 to pursue new opportunities.

Career

In 1796, Prime launched "Nathaniel Prime, Stock and Commission Broker" at 42 Wall Street, where he accumulated substantial wealth trading bank stocks. Subsequently, he founded a private banking institution that provided deposit and lending services.

The firm evolved in 1808 when Samuel Ward III became a partner, leading to the new name Prime & Ward. In 1816, Joseph Sands—Prime’s brother-in-law—joined, rebranding the company as Prime, Ward & Sands. The partnership expanded further in 1824 with the addition of James Gore King, who brought valuable international ties through his Liverpool firm King & Gracie; the business then operated as Prime, Ward, Sands & King. Following Sands' death in 1826, the firm was renamed Prime, Ward & King. Nathaniel Prime retired in 1832 and his son Edward took over leadership.

Residence

Prime's family resided at the intersection of Broadway and Battery Place. In 1807, he purchased an estate covering 130 acres near Yorkville, New York at Hell Gate, New York. The mansion spanned the area between First Avenue and York Avenue from 89th to 90th Streets. This property was sold in 1857 to the Redemptorists, who converted it into St. Joseph's Orphan Asylum.

A portrait sculpture of Prime was created by John Frazee.

Personal life

On June 7, 1797, Nathaniel Prime married Cornelia Sands (1773–1852), daughter of notable merchant and banker Comfort Sands and Elizabeth (née Cornell) Sands. Their children were:

• Cornelia Prime (1800–1874), who wed Robert Ray (1794–1879), brother-in-law to New York Governor John Alsop King.
• Edward Prime (1801–1883), a banker with Prime, Ward & King; married Charlotte Wilkins Hoffman (1808–1892).
• Emily Prime (1804–1854), married U.S. Navy Captain William Seton (1796–1868), son of Elizabeth Ann Seton.
• Frederick Prime (1807–1887), married Lydia Hare (1815–1883), daughter of Robert Hare.
• Matilda Prime (1810–1849), wife of Gerard Holsman Coster (1808–1880), son of John Gerard Coster.
• Laura Prime (1812–1887), married John Clarkson Jay (1808–1891), grandson of John Jay.

Nathaniel Prime died by suicide on November 26, 1840. According to Edgar Howland’s report to diarist George Templeton Strong, he quietly severed his throat after reading his prayer book. The coroner's jury—including William H. Aspinwall—concluded "insanity," citing his recent nervous state and withdrawal from business activities.

Descendants

Through his daughter Cornelia, Nathaniel was grandfather to Cornelia Ray (1829–1867), who married Gen. Schuyler Hamilton (1822–1903), a grandson of Alexander Hamilton; Robert Ray (1832–1860); and Nathalie Elizabeth Ray (1837–1912), spouse of Edmund Lincoln Baylies (1829–1869), parents of Edmund L. Baylies Jr..

Via his daughter Emily, he was grandfather to author and science writer William Seton III (1835–1905) and monsignor and titular archbishop Robert Seton (1839–1927) within the Roman Catholic Church.

Through his son Edward, Nathaniel was grandfather to William Hoffman Prime (1837–1881), who married Annie Rhodes Gilbert; Mary Catherine Prime (born 1841), wife of James A. Scrimper; and Henry Prime (born 1847). William's descendants included Charlotte Hoffman Prime (1881–1969), who married William Massena Benjamin, son of Samuel Nicholl Benjamin, as well as Charlotte Prime (born 1838), who wed Leonard J. Wyeth.