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Lot 276

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Description:

Stock Certificate Issued to Theodore Roosevelt Sr., Father of the President

[THEODORE ROOSEVELT SR.] Partially Printed Document Signed, Certificate for 54 shares of stock in The Chemical National Bank of New York, signed by company president John Q. Jones and Cashier George G. Williams, October 13, 1871; with internal revenue stamp affixed, 1 p., 10.25ʺ x 6ʺ. Also includes corresponding receipt signed by A[lfred?]. Roosevelt, October 21, 1871, 3ʺ x 6ʺ; a handwritten note detailing the division of the shares among Roosevelt’s children, signed by James A. Roosevelt (1825-1898; uncle of the President), October 31, 1883, 5.25ʺ x 8.25ʺ; and some images of President Theodore Roosevelt Jr. and color post card of President Roosevelt’s Home at Oyster Bay, Long Island. Some adhesive residue on versos; very good.

Excerpts:
Stock Certificate
This is to Certify that Theodore Roosevelt of New York is entitled to Fifty-four Shares of One Hundred Dollars each of the Capital Stock of The Chemical National Bank of New York subject to all the conditions and stipulations contained in their Articles of Association....

Note
Jas A. Roosevelt or Jas K Gracie in trust for Miss Anna L. Roosevelt – 14 Shares
the same in trust for Mrs. Corinne R. Robinson – 13 Shrs
the same in trust for Theodore Roosevelt [the future President] – 14 Shrs
the same in trust for Elliott Roosevelt – 13 Shrs

Please transfer this certificate as above & I will sign book when up at bank
J. A. Roosevelt Esq
Oct 31/83.


Theodore Roosevelt Sr. (1831-1878) was born in Albany, New York, and married Martha Stewart Bulloch of Georgia in 1853. They had two sons and two daughters between 1855 and 1861, including future President Theodore Roosevelt Jr. (1858-1919). During the Civil War, the elder Theodore supported the Union war effort and was a charter member of the Union League Club, though his wife supported the Confederacy. Roosevelt founded the New York Orthopedic Hospital and contributed to many other philanthropic causes.

James A. Roosevelt (1825-1898) was born in New York City and joined his father’s mercantile firm, Roosevelt & Son, in 1845. He eventually succeeded his father as head of the firm and held positions in many other institutions, including as vice president of the Chemical Bank of New York. Like his brother, Theodore Roosevelt Sr., he contributed to many philanthropic causes.

Chemical National Bank of New York was organized in 1823 as the New York Chemical Manufacturing Company. In 1844, when its original charter expired, the chemical company was liquidated and reincorporated as the Chemical Bank of New York. Among the bank’s first directors was Cornelius Roosevelt (1794-1871; grandfather of the President). During the Panic of 1857, the bank continued to redeem its bank notes in specie, while most other banks suspended specie payments. In 1865, it received its national charter as the Chemical National Bank of New York, allowing it to issue government-backed national bank notes, the forerunner of paper money.

John Q. Jones (1803-1878) was born in New York City and attended Columbia College. He became a merchant and in 1834, he became factory agent for the Chemical Bank. He served as cashier of Chemical Bank from 1839 to 1844, when he became president and served until 1872.

George G. Williams (1826-1903) was born in Connecticut and became a clerk at the Chemical Bank in 1842. Williams served as cashier of Chemical National Bank of New York from 1855 to 1878. He became a director in 1864, and served as the bank’s president from 1878 to 1894.

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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