W. R. Vermilye
Washington Romeyn Vermilye | |
|---|---|
| Born | Template:Birth date Harlem, New York City, U.S. |
| Died | December 23, 1876 (aged 66) Englewood, New Jersey, U.S. |
| Occupation(s) | Financier, banker |
| Known for | President of the New York Stock Exchange (1861–1862) |
Col. Washington Romeyn Vermilye (September 29, 1810 – December 23, 1876) was a prominent American financier and served as president of the New York Stock Exchange.
Early life
Vermilye was born in Harlem, New York City, to Mary Montgomery Vermilye and William W. Vermilye, a distinguished Presbyterian elder. His family included notable individuals such as the banker William Montgomery Vermilye and clergymen Rev. Drs. Thomas E. and Robert G. Vermilye. The Vermilye lineage traces back to early New York settlers of Huguenot descent, originating from John Vermilye who emigrated from England in 1690.
Career
Vermilye’s military involvement began on November 8, 1830, when he joined the Seventh Regiment of the National Guard. He advanced through the ranks: elected first lieutenant in 1832, captain in 1833, promoted to major in 1840, elevated to lieutenant colonel in 1843, and attained the rank of colonel in 1845. Following his active duty, he remained engaged as colonel of the veterans and played a key role in constructing the new armory.
A committed Republican, Vermilye held the position of commissioner within the New York Public School System. In 1863, together with his brother William, he declined to support John Adams Dix for the office of mayor of New York City, aligning with President Abraham Lincoln and other influential leaders. In 1873, he corresponded with President Ulysses S. Grant concerning the removal of General Thomas B. Van Buren from his post as U.S. Commissioner to the Vienna Exhibition.
Banking career
In 1849, Vermilye established the banking firm Carpenter & Vermilye alongside his brother William Montgomery Vermilye and George Carpenter. This institution became a leading financial house in New York City, distinguished for its role in marketing war bonds during the U.S. Civil War. After Carpenter's retirement in 1858, the company was renamed Vermilye & Co.; William retired a decade later in 1868.
Over time, the firm underwent several transformations: it adopted the name of partner William A. Read in 1905; rebranded as Dillon, Read & Co. in 1921 under Clarence Dillon’s leadership; was acquired by Barings Bank in 1991; subsequently purchased by Swiss Bank Corporation in 1997; and finally merged into UBS in 1998.
Upon Vermilye’s passing, his son took over his stake in W.R. Vermilye & Co. Additionally, Vermilye was an active member and served as president of the New York Stock Exchange from 1861 to 1862, guiding it through the challenges of the Civil War era.
Personal life
On October 2, 1833, Vermilye wed Elizabeth Dwight Lathrop (1812–1874) in West Springfield, Massachusetts. Elizabeth was daughter to Mary (née McCrackan) Lathrop and U.S. Representative Samuel Lathrop. Her sister Mary Lathrop married Rev. William Buell Sprague, both granddaughters of esteemed Rev. Joseph Lathrop. Together, W.R. and Elizabeth had six children:
- Mary Elizabeth Vermilye (1834–1836), who died in infancy.
- Washington Romeyn Vermilye Jr. (1837–1909), a banker and civil engineer who married Hattie Amelye Comstock in 1861.
- Samuel Lathrop Vermilye (b. 1839), who died young.
- George Smith Vermilye (b. 1841), who died young.
- Emily Augusta Vermilye (1846–1921), who married Elbert Adrain Brinckerhoff, president of Merchants' National Bank and Mayor of Englewood.
- Arthur Montgomery Vermilye (1849–1853), who died young.
Vermilye contributed to various philanthropic organizations including serving on boards for the American Bible Society, the Presbyterian Board of Foreign Missions, and acting as director at Lenox Hospital, among others.
After primarily residing in New York City, he relocated to Englewood, New Jersey in 1868. He passed away suddenly following a brief illness at his home there on December 23, 1876. He was interred at Woodlawn Cemetery, Bronx, alongside his wife who had died on April 11, 1874, in St. Augustine, Florida. The Woodlawn Cemetery is near Kingsbridge, Bronx, where the Vermilye family maintained an extensive estate since their early settlement days.
In his will, he bequeathed substantial sums to charitable causes and created trusts for his siblings and their descendants. He also allocated $200,000 "for the continuation of the banking business of Vermilye & Co., on Nassau Street." His son inherited a special partnership interest in the banking firm along with his Englewood residence; the remainder of his estate—valued at $1 million—was equally divided between his surviving son and daughter.
References
- Notes
- Sources
External links
- Vermilye, Washington Romeyn featured in the Seward Family Digital Archive