John Stewart Kennedy
Encyclopedia
John Stewart Kennedy was an American
capitalist
and philanthropist
.
in Scotland
, received a scant education in school, studied in his spare moments as a clerk, and at 20 was sent to America by a London
iron firm, in whose branch house in Glasgow he worked for four years. Then he came again to New York
and entered business with Morris K. Jesup
. From this partnership
he retired in 1867 and from active business in 1883, although he was still called upon after that date to aid in the reorganization of various financial concerns, notably in 1888, when he acted with J. S. Harris as receiver of the New Jersey Central Railroad. He died of whooping cough in 1909.
, and his will
gave away $30,000,000 - bequest
s of $2,500,000 each to Columbia University
, the New York Public Library
, Metropolitan Museum of Art
, Presbyterian Board of Home Missions, Presbyterian Board of Foreign Missions, Presbyterian Church Erection Fund, and Presbyterian Hospital of New York City
; four gifts of $1,500,000 each; three of $750,000 each; nine (to colleges) of $100, 000 each; and 10 (to colleges) of $50,000 each; besides numerous smaller gifts.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
capitalist
Capitalism
Capitalism is an economic system that became dominant in the Western world following the demise of feudalism. There is no consensus on the precise definition nor on how the term should be used as a historical category...
and philanthropist
Philanthropist
A philanthropist is someone who engages in philanthropy; that is, someone who donates his or her time, money, and/or reputation to charitable causes...
.
Biography
He was born near GlasgowGlasgow
Glasgow is the largest city in Scotland and third most populous in the United Kingdom. The city is situated on the River Clyde in the country's west central lowlands...
in Scotland
Scotland
Scotland is a country that is part of the United Kingdom. Occupying the northern third of the island of Great Britain, it shares a border with England to the south and is bounded by the North Sea to the east, the Atlantic Ocean to the north and west, and the North Channel and Irish Sea to the...
, received a scant education in school, studied in his spare moments as a clerk, and at 20 was sent to America by a London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
iron firm, in whose branch house in Glasgow he worked for four years. Then he came again to New York
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...
and entered business with Morris K. Jesup
Morris Ketchum Jesup
Morris Ketchum Jesup , was a United States banker and philanthropist. He was the president of the American Museum of Natural History.-Biography:...
. From this partnership
Partnership
A partnership is an arrangement where parties agree to cooperate to advance their mutual interests.Since humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and varied combinations thereof, have always been and remain commonplace...
he retired in 1867 and from active business in 1883, although he was still called upon after that date to aid in the reorganization of various financial concerns, notably in 1888, when he acted with J. S. Harris as receiver of the New Jersey Central Railroad. He died of whooping cough in 1909.
Legacy
He was prominently connected during his life with New York charitiesCharity (virtue)
In Christian theology charity, or love , means an unlimited loving-kindness toward all others.The term should not be confused with the more restricted modern use of the word charity to mean benevolent giving.- Caritas: altruistic love :...
, and his will
Will (law)
A will or testament is a legal declaration by which a person, the testator, names one or more persons to manage his/her estate and provides for the transfer of his/her property at death...
gave away $30,000,000 - bequest
Bequest
A bequest is the act of giving property by will. Strictly, "bequest" is used of personal property, and "devise" of real property. In legal terminology, "bequeath" is a verb form meaning "to make a bequest."...
s of $2,500,000 each to Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
, the New York Public Library
New York Public Library
The New York Public Library is the largest public library in North America and is one of the United States' most significant research libraries...
, Metropolitan Museum of Art
Metropolitan Museum of Art
The Metropolitan Museum of Art is a renowned art museum in New York City. Its permanent collection contains more than two million works, divided into nineteen curatorial departments. The main building, located on the eastern edge of Central Park along Manhattan's Museum Mile, is one of the...
, Presbyterian Board of Home Missions, Presbyterian Board of Foreign Missions, Presbyterian Church Erection Fund, and Presbyterian Hospital of New York City
NewYork–Presbyterian Hospital
NewYork–Presbyterian Hospital is a prominent university hospital in New York City affiliated with two Ivy League medical schools: Columbia University's College of Physicians and Surgeons and Cornell University's Weill Medical College. It is composed of two distinct medical centers, Columbia...
; four gifts of $1,500,000 each; three of $750,000 each; nine (to colleges) of $100, 000 each; and 10 (to colleges) of $50,000 each; besides numerous smaller gifts.