Jabez A. Bostwick
Encyclopedia
Jabez Abel Bostwick was an American businessman who was a founding partner of Standard Oil
.
, while still a boy his family moved to a farm in Ohio
. As a young man, Jabez Bostwick first worked in a hardware store then opened his own. He next ventured into the cotton
brokerage business in Cincinnati but soon moved to New York City
where he became involved in the production side of the oil
business through his firm, Tilford & Bostwick. He bought out Tilford and went into successful partnership with Henry Flagler and the Rockefeller brothers, John
and William
. Jabez Bostwick served as the Secretary-Treasurer of the Standard Oil Trust.
Jabez Bostwick was also a major shareholder and President of the New York and New England Railroad
, a substantial shareholder in the Housatonic Railroad
, a member of the New York Cotton Exchange
, and who sat on numerous other corporate boards. In spite of the enormous wealth he obtained, Bostwick was known as a modest man of exemplary character who was a devout member of the Baptist Church. He donated money to his church and to educational institututions such as Wake Forest College in Winston-Salem, North Carolina
and Richmond College
in Richmond, Virginia
.
Jabez Bostwick died in a freak stable
fire at Friedheim, his summer residence at Mamaroneck
on Long Island
. His widow, Helen C. Bostwick, upon her death on April 27, 1920 left an estate per public record that was valued at $29,264,181.00, including nearly $20 million of Standard Oil stock.
Standard Oil
Standard Oil was a predominant American integrated oil producing, transporting, refining, and marketing company. Established in 1870 as a corporation in Ohio, it was the largest oil refiner in the world and operated as a major company trust and was one of the world's first and largest multinational...
.
Biography
Born in Delhi, New YorkDelhi (town), New York
Delhi is a town in Delaware County, New York, USA. The population was 4,629 at the 2000 census.The Town of Delhi is in the east-central part of the county. The State University of New York at Delhi is located in this town, which contains the Village of Delhi...
, while still a boy his family moved to a farm in Ohio
Ohio
Ohio is a Midwestern state in the United States. The 34th largest state by area in the U.S.,it is the 7th‑most populous with over 11.5 million residents, containing several major American cities and seven metropolitan areas with populations of 500,000 or more.The state's capital is Columbus...
. As a young man, Jabez Bostwick first worked in a hardware store then opened his own. He next ventured into the cotton
Cotton
Cotton is a soft, fluffy staple fiber that grows in a boll, or protective capsule, around the seeds of cotton plants of the genus Gossypium. The fiber is almost pure cellulose. The botanical purpose of cotton fiber is to aid in seed dispersal....
brokerage business in Cincinnati but soon moved to New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
where he became involved in the production side of the oil
Oil
An oil is any substance that is liquid at ambient temperatures and does not mix with water but may mix with other oils and organic solvents. This general definition includes vegetable oils, volatile essential oils, petrochemical oils, and synthetic oils....
business through his firm, Tilford & Bostwick. He bought out Tilford and went into successful partnership with Henry Flagler and the Rockefeller brothers, John
John D. Rockefeller
John Davison Rockefeller was an American oil industrialist, investor, and philanthropist. He was the founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. Rockefeller revolutionized the petroleum industry and defined the structure of...
and William
William Rockefeller
William Avery Rockefeller, Jr. , American financier, was a co-founder with his older brother John D. Rockefeller of the prominent United States Rockefeller family. He was the son of William Avery Rockefeller, Sr. and Eliza Rockefeller.-Youth, education:Rockefeller was born in Richford, New York,...
. Jabez Bostwick served as the Secretary-Treasurer of the Standard Oil Trust.
Jabez Bostwick was also a major shareholder and President of the New York and New England Railroad
New York and New England Railroad
The New York and New England Railroad was a major railroad connecting southern New York state with Hartford, Connecticut, Providence, Rhode Island and Boston, Massachusetts. It operated from 1873 to 1893. Prior to 1873 it was known as the Boston, Hartford and Erie Railroad, which had been formed by...
, a substantial shareholder in the Housatonic Railroad
Housatonic Railroad
The Housatonic Railroad is a Class III railroad operating in southwestern New England. It was chartered in 1983 to operate a short section of ex-New York, New Haven and Hartford Railroad in northwestern Connecticut, and has since expanded north and south, as well as west into New York State.The...
, a member of the New York Cotton Exchange
New York Cotton Exchange
The New York Cotton Exchange was a commodities exchange founded in 1870 by a group of one hundred cotton brokers and merchants at 1 Hanover Square in New York City.- History :...
, and who sat on numerous other corporate boards. In spite of the enormous wealth he obtained, Bostwick was known as a modest man of exemplary character who was a devout member of the Baptist Church. He donated money to his church and to educational institututions such as Wake Forest College in Winston-Salem, North Carolina
Winston-Salem, North Carolina
Winston-Salem is a city in the U.S. state of North Carolina, with a 2010 population of 229,617. Winston-Salem is the county seat and largest city of Forsyth County and the fourth-largest city in the state. Winston-Salem is the second largest municipality in the Piedmont Triad region and is home to...
and Richmond College
University of Richmond
The University of Richmond is a selective, private, nonsectarian, liberal arts university located on the border of the city of Richmond and Henrico County, Virginia. The University of Richmond is a primarily undergraduate, residential university with approximately 4,000 undergraduate and graduate...
in Richmond, Virginia
Richmond, Virginia
Richmond is the capital of the Commonwealth of Virginia, in the United States. It is an independent city and not part of any county. Richmond is the center of the Richmond Metropolitan Statistical Area and the Greater Richmond area...
.
Jabez Bostwick died in a freak stable
Stable
A stable is a building in which livestock, especially horses, are kept. It most commonly means a building that is divided into separate stalls for individual animals...
fire at Friedheim, his summer residence at Mamaroneck
Mamaroneck (town), New York
Mamaroneck is a town in Westchester County, New York, United States. The population was 29,156 at the 2010 census. There are two villages contained within the town: Larchmont and the Village of Mamaroneck...
on Long Island
Long Island
Long Island is an island located in the southeast part of the U.S. state of New York, just east of Manhattan. Stretching northeast into the Atlantic Ocean, Long Island contains four counties, two of which are boroughs of New York City , and two of which are mainly suburban...
. His widow, Helen C. Bostwick, upon her death on April 27, 1920 left an estate per public record that was valued at $29,264,181.00, including nearly $20 million of Standard Oil stock.