Fisk family papers
Creation: 1883-1901Abstract
The records are those of Harvey Fisk (1831-1890) and his descendants comprising three generations of investment bankers. The Fisk family papers are a fragment combining both business and personal papers.
Dates
- Creation: 1883-1901
Creator
- Fisk family (Family)
Extent
0.25 Linear Feet
Biographical Note
The records are those of Harvey Fisk (1831-1890) and his descendants comprising three generations of investment bankers.
Harvey Fisk was born on April 26, 1831 in New Haven, Vt. A minister's son, he was apprenticed as a clerk in a Trenton, N.J., drygoods shop in 1848 through the influence of an uncle. He began his banking career in 1852 when he moved to New York City to become a teller. On March 1, 1862, he joined with A. S. Hatch to form the banking partnership of Fisk & Hatch, which was soon named as a subagent for the sale of government bonds in New York and New England by the Philadelphia banker Jay Cooke. The firm went on to earn a reputation though financing the Central Pacific and Chesapeake & Ohio Railroads, but the Panic of 1873 caught them with $2.7 million advanced to the C&O, and they were forced to suspend payment. With great effort, the firm was restored to solvency, but Fisk's health collapsed in the spring of 1883 and he was obliged to travel in Europe. In his absence, Hatch speculated in government bonds, and the firm was caught again in the May 1884 panic that accompanied the failure of Grant & Ward. Fisk returned from Europe and restored the company's credit, and the partnership was dissolved in March 1885.
Fisk now took his sons Harvey Edward, Charles Joel, Alex. G., and Pliny Fisk into the business as Harvey Fisk & Sons. The firm continued to deal in government and railroad bonds, and Fisk took the lead in persuading the Cleveland administration to use the accumulating federal surplus to reduce the national debt and put more money into circulation. Fisk's health had never been restored, and he was obliged to make two extended trips to Carlsbad and other European resorts in the late 1880s. He died on November 8, 1890.
Harvey Edward and particularly Pliny Fisk were the dominant partners of the next generation. The house was generally associated with the House of Morgan and was involved in refunding railroad debts during the reorganizations of the late 1890s. Harvey E. Fisk withdrew in 1898 and formed his own firm, Fisk & Robinson, with George H. Robinson. From 1914 until his retirement in 1930 he was a research writer with Bankers Trust Company.
Pliny Fisk, the Stock Exchange member of the firm, was the dominant partner from 1890 to 1919. Under his leadership, Harvey Fisk & Sons underwrote the formation of the American Locomotive Company (1901), Bethlehem Steel Corporation (1904-05), and the Hudson Companies (1902) and Hudson and Manhattan Railroad Company which built the rapid transit "Hudson Tubes." Pliny Fisk suffered a nervous breakdown in 1919 and lost his entire fortune. In the years before his death in 1939, he was reduced to living in a single room, albeit one on the fashionable Upper East Side.
Alex. G. Fisk was originally in charge of the firm's Boston office but returned to New York during the depression of the 1890s. He appears to have retired about the time of World War I and drowned in a swimming accident in 1921.
Charles J. Fisk served as treasurer of the firm and served three terms as mayor of Plainfield, New Jersey, where he had a suburban home. His son, Harvey Fisk, who died in 1928 at the age of 44, was the last family member of the firm. The business was incorporated in 1921, and the stock gradually passed into other hands.
Scope and Contents
The Fisk family papers are a fragment combining both business and personal papers.
Harvey Fisk is represented by a collection of letters (1846-1890) privately published by his son Harvey Edward in 1896. Fisk was highly observant and articulate from an early age, and his letters to other family members are an equal blend of both social and business life. He begins describing his education at the Bakersfield Academy in Vermont, then his apprenticeship in Trenton and the courtship of Louisa Green, whom he married in 1853. He notes the lure of the California Gold Rush, but his father forbade him to go. He notes the effect of the Panic of 1873 and the difficulties of the C&O financing and his relationship with Collis P. Huntington. Letters from his later years contain some information on his work with government bonds but focus primarily on his travels abroad, notably to Edinburgh, Glasgow, Paris, Biarritz, Carlsbad, Rome and Venice. His deep Puritan roots are revealed by his youthful shock at drinking and card-playing, even among Presbyterians, and by continuing religious homilies in later life. Since the letters were published originally for his children, there is almost no description of the family's domestic life after his marriage.
Fisk & Hatch is represented by a comprehensive financial statement showing its performance for every year of its existence (1862-1885) and by similar accounts with the C&O Railroad.
The firm of Harvey Fisk & Sons is represented by scattered financial statements (1886-188) and by a short synopsis of the firm's history prepared in 1921.
Alex G. Fisk was originally in charge of the Boston office but appears to have moved to New York in the late 1890s after the death of his brother Charles J. His letterbook contains some correspondence relating to the New England business of the firm in 1895 but thereafter deals mostly with household expenditures, the disposition of Charles's home and effects, and a few letters relating to the Union League Club of New York. A letter of Dec. 11, 1896 contains an enthusiastic and unsolicited endorsement of the Eastern Talking Machine Company's gramaphone. The concluding letters of 1901 again deal with placing railroad and municipal bonds in New England.
The letterbook of Charles J. Fisk (1883-1898) combines both business and personal letters. The former reflect his rather routine duties as treasurer. However, there is substantial correspondence on the firm's campaign to have the federal government repurchase its bonds, including letters to Pres. Grover Cleveland and Secretaries of the Treasury C. S. Fairchild and William Windom and subsequent orders for the sale of bonds. There are also some letters from 1898 dealing with the placement of municipal bonds for New York City. The book also contains several letters from Harvey E. to Pliny Fisk describing market conditions and his strategy for riding out the depression of 1893-1896. This contrasts with many lay-off notices for the firm's employees. Many of the letters describe Charles's own business activities, including real estate development at Rockaway Beach in the early 1880s, ventures in New Jersey street railways undertaken with his father-in-law A.G. Richey, a leader of the Trenton bar, cattle breeding, and household expenses. There are also two lists of destitute persons needing work or public relief in Plainfield, New Jersey, in 1893.
Access Restrictions
No restrictions on access; this collection is open for research.
Language of Materials
English
Finding Aid & Administrative Information
- Title:
- Fisk family papers
- Description rules:
- Describing Archives: A Content Standard
- Language of description:
- English
- Script of description:
- Latin
Revision Statements
- 2025: Laurie Sather
Repository Details
Repository Details
Part of the Manuscripts and Archives Repository