Moses Taylor Pyne
Encyclopedia
Moses Taylor Pyne was a financier and philanthropist, and one of Princeton University
's greatest benefactors and most influential Trustees.
The son of Percy Rivington Pyne
and Albertina Shelton Taylor, Pyne was born in New York City in 1855, and graduated from Princeton in 1877. Pyne inherited an enormous fortune from his maternal grandfather and namesake, Moses Taylor
who was first president of the First National City Bank of New York
and a stockholder in the Delaware, Lackawanna and Western Railroad
.
Pyne decided early on in his life to dedicate himself to advancing the interests of his alma mater, and in 1884 gained a seat on the Board of Trustees of Princeton at the age of only 28. Settling in the town of Princeton, his beautiful estate, Drumthwacket
, is now the official residence of the Governor of New Jersey
. Pyne's wealth allowed him to focus on his philanthropy and involvement in civic organizations, and the list of organizations in which he was involved speaks to the extent of his generosity and the breadth of his interests. According to historian William Selden:
However, out of all the organizations with which Moses Taylor Pyne was involved, it was by far Princeton University that received the greatest amount of his time, money and energy.
Pyne served also as the chairman of the Committee on Grounds and Buildings, and the physical appearance, style and footprint of the Princeton campus are also due to his vision, in advocating for Collegiate Gothic architecture, and generosity, in the form of the hundreds and hundreds of acres that Pyne bought and gave to the University, free of charge: “The choice of the uniform and beautiful architectural style which enriches the and Princeton campus was largely his work. The purchase of large tracts of land, far in advance of any apparent need, came of his faith in Princeton’s future.”
In the words of University president John Hibben, “more than any one man he is responsible for the development of what is now so widely known as the Princeton spirit.” The strong connection of alumni to Ol’ Nassau was developed into a lasting force by Pyne, who founded both the Princeton Alumni Association and the Princeton Alumni Weekly. Many of the other unique and endearing features of the Princeton community can be traced to Momo Pyne, including even the black squirrels that populate the campus, which were introduced by Pyne to add to the unique menagerie at Drumthwacket.
Of all the Princeton institutions that were influenced by Moses Taylor Pyne, none were shaped more consistently or decisively than the upperclass eating clubs of Prospect Avenue, whose origin, growth and survival was ensured by the patronage of "Momo" Pyne. Pyne believed that permanent eating clubs established in their own clubhouses was the key to stabilizing the social life of campus, and he provided generous loans and architectural advice to help this process along. He had a documented role in the establishment of Ivy Club, Cap and Gown Club
, Elm Club, Campus Club
, Cloister Inn and Tower Club, and many others, as demonstrated by the fact that he was made an honorary member of twelve out of the fourteen eating clubs in existence at Princeton in 1907.
Pyne served for thirty-six years on the Board of Trustees and he did not miss a single meeting. He died in 1921 and is buried on "President's Row" in the Princeton Cemetery
. On the day of his funeral, "the whole community joined in tribute. University activities were suspended and all business stopped on Nassau Street. After the services at Drumthwacket the funeral cortege drove slowly through the grounds of the Graduate College, past the site of the Pyne Dormitory, by Upper and Lower Pyne, to the FitzRandolph Gateway where it entered the Campus. To the tolling of the Nassau Hall bell the procession passed through a student guard of honor to the steps of Nassau Hall, then westward around the rear of the building, and through the arches of Pyne Library, and then back to Nassau Street. After the procession left the Campus, the students walked down Witherspoon Street in a body to the cemetery where they encircled the grave and awaited the arrival of the cortege."
During his last illness, the Trustees voted to name the under-construction dormitory Pyne Hall to honor his services. In addition to the buildings and endowed professorships that bear his name, the University has established in his honor the Moses Taylor Pyne Honor Prize, usually referred to as the "Pyne Prize", which is the "highest general distinction conferred on an undergraduate." Pyne's portrait hangs in Procter Hall of Princeton's Graduate College.
Princeton University
Princeton University is a private research university located in Princeton, New Jersey, United States. The school is one of the eight universities of the Ivy League, and is one of the nine Colonial Colleges founded before the American Revolution....
's greatest benefactors and most influential Trustees.
The son of Percy Rivington Pyne
Percy Pyne
Percy Rivington Pyne was a President of City National Bank.He was born in England to Anna and Thomas Rivington Pyne and attended Christ's Hospital. He moved to the U.S. in 1835 and joined Moses Taylor & Co., becoming a partner in 1842. In 1855 he married Taylor's daughter Albertina. Their...
and Albertina Shelton Taylor, Pyne was born in New York City in 1855, and graduated from Princeton in 1877. Pyne inherited an enormous fortune from his maternal grandfather and namesake, Moses Taylor
Moses Taylor
Moses Taylor was a 19th century New York merchant and banker and one of the wealthiest men of that century. At his death, his estate was reported to be worth $70 million, or about $ billion in today's dollars. He controlled the National City Bank of New York , the Delaware, Lackawanna & Western...
who was first president of the First National City Bank of New York
Citibank
Citibank, a major international bank, is the consumer banking arm of financial services giant Citigroup. Citibank was founded in 1812 as the City Bank of New York, later First National City Bank of New York...
and a stockholder in the Delaware, Lackawanna and Western Railroad
Delaware, Lackawanna and Western Railroad
The Delaware, Lackawanna and Western Railroad Company was a railroad connecting Pennsylvania's Lackawanna Valley, rich in anthracite coal, to Hoboken, New Jersey, , Buffalo and Oswego, New York...
.
Drumthwacket
Drumthwacket is the official residence of the governor of New Jersey. The mansion is located at 354 Stockton Street in Princeton, New Jersey, close to the state capital of Trenton...
, is now the official residence of the Governor of New Jersey
Governor of New Jersey
The Office of the Governor of New Jersey is the executive branch for the U.S. state of New Jersey. The office of Governor is an elected position, for which elected officials serve four year terms. While individual politicians may serve as many terms as they can be elected to, Governors cannot be...
. Pyne's wealth allowed him to focus on his philanthropy and involvement in civic organizations, and the list of organizations in which he was involved speaks to the extent of his generosity and the breadth of his interests. According to historian William Selden:
“Moses Taylor Pyne was a director of four banks, four steel and metal manufacturing companies, one gas company, one insurance company, eight railroads and president of one railroad, two hospitals, two secondary schools, two YMCAs; and a vestryman of four Episcopal churches. He was a member of twenty-five clubs, twelve of which were Princeton University undergraduate eating clubs, as well as president of the Princeton township governing board, a member of the New Jersey Public Library Commission, the first president of the earlier Princeton Historical Association, and president of the board of the first Princeton Inn which he helped to finance and build in 1891 on part of the original Morven property. In fact, for nearly a quarter of a century no enterprise of importance in Princeton would be started without the assurance of endorsement from Moses Taylor Pyne.”
However, out of all the organizations with which Moses Taylor Pyne was involved, it was by far Princeton University that received the greatest amount of his time, money and energy.
Benefactor of Princeton
The total amount of money that Pyne gave to Princeton, including the University, its students, faculty, and related institutions, is truly incalculable. “The extent of his financial aid to Princeton has never been disclosed. It was known to be very large but the point was one which he never cared to discuss.” He poured an untold amount of money into the general fund, and while Pyne never disclosed how much, “it is known...that for several years he drew his own check to cover the deficit in the university budget.” According to the Princeton Alumni Weekly:Pyne served also as the chairman of the Committee on Grounds and Buildings, and the physical appearance, style and footprint of the Princeton campus are also due to his vision, in advocating for Collegiate Gothic architecture, and generosity, in the form of the hundreds and hundreds of acres that Pyne bought and gave to the University, free of charge: “The choice of the uniform and beautiful architectural style which enriches the and Princeton campus was largely his work. The purchase of large tracts of land, far in advance of any apparent need, came of his faith in Princeton’s future.”
In the words of University president John Hibben, “more than any one man he is responsible for the development of what is now so widely known as the Princeton spirit.” The strong connection of alumni to Ol’ Nassau was developed into a lasting force by Pyne, who founded both the Princeton Alumni Association and the Princeton Alumni Weekly. Many of the other unique and endearing features of the Princeton community can be traced to Momo Pyne, including even the black squirrels that populate the campus, which were introduced by Pyne to add to the unique menagerie at Drumthwacket.
Of all the Princeton institutions that were influenced by Moses Taylor Pyne, none were shaped more consistently or decisively than the upperclass eating clubs of Prospect Avenue, whose origin, growth and survival was ensured by the patronage of "Momo" Pyne. Pyne believed that permanent eating clubs established in their own clubhouses was the key to stabilizing the social life of campus, and he provided generous loans and architectural advice to help this process along. He had a documented role in the establishment of Ivy Club, Cap and Gown Club
Cap and Gown Club
Cap and Gown Club, founded in 1890, is an eating club at Princeton University, in Princeton, New Jersey, United States. Colloquially known as "Cap", the club is one of the "Big Four" eating clubs at Princeton . Members are selected through a selective process called bicker...
, Elm Club, Campus Club
Campus Club
Campus Club was one of the undergraduate eating clubs at Princeton University. Located on the corner of Washington Road and Prospect Avenue, Campus was founded in 1900...
, Cloister Inn and Tower Club, and many others, as demonstrated by the fact that he was made an honorary member of twelve out of the fourteen eating clubs in existence at Princeton in 1907.
Legacy
When he died in 1921, the Wall Street Journal wrote the following in his obituary:Pyne served for thirty-six years on the Board of Trustees and he did not miss a single meeting. He died in 1921 and is buried on "President's Row" in the Princeton Cemetery
Princeton Cemetery
Princeton Cemetery is located in Borough of Princeton, New Jersey. It is owned by the Nassau Presbyterian Church. John F. Hageman in his 1878 history of Princeton, New Jersey refers to the cemetery as: "The Westminster Abbey of the United States."...
. On the day of his funeral, "the whole community joined in tribute. University activities were suspended and all business stopped on Nassau Street. After the services at Drumthwacket the funeral cortege drove slowly through the grounds of the Graduate College, past the site of the Pyne Dormitory, by Upper and Lower Pyne, to the FitzRandolph Gateway where it entered the Campus. To the tolling of the Nassau Hall bell the procession passed through a student guard of honor to the steps of Nassau Hall, then westward around the rear of the building, and through the arches of Pyne Library, and then back to Nassau Street. After the procession left the Campus, the students walked down Witherspoon Street in a body to the cemetery where they encircled the grave and awaited the arrival of the cortege."
During his last illness, the Trustees voted to name the under-construction dormitory Pyne Hall to honor his services. In addition to the buildings and endowed professorships that bear his name, the University has established in his honor the Moses Taylor Pyne Honor Prize, usually referred to as the "Pyne Prize", which is the "highest general distinction conferred on an undergraduate." Pyne's portrait hangs in Procter Hall of Princeton's Graduate College.