George Fisher Baker: Banking’s Most Imposing Man
By Samuel Phineas Upham
John Thompson got into banking when he was young, dealing notes. He formed the 1st National Bank of the City of New York with his sons, Frederick and Samuel, but he also hired a young lad to work with them. That man was George Fisher Baker, who helped charter the bank under the National Currency Act, and co-founded it with the Thompson family.
Within fourteen years, much would change at 1st National. John and Samuel split to form their own venture, Chase National Bank, which would become one of the most successful financial institutions in America. Frederick and George stayed with 1st National.
Baker became wealthy as the bank grew, and he poured his wealth into the business community. He held some smaller ventures, was the largest stakeholder in the Central Railroad of New Jersey, and was the listed director of 22 corporations.
Baker was a quiet man in public, but not so behind-the-scenes. He was a man who was known to get his loans repaid, and was noted to be one of the most imposing men in the history of banking. He also had taste and style.
It’s said that during the wedding of one of his daughters, he commissioned a one-of-a-kind Pierce Arrow motorcar to ride to the venue. The roof was a whole 5 inches taller than normal to accommodate the top hat that Baker would wear that day, and the rear compartment featured trim made of 24-carat gold. The car vanished shortly after the event, only to be rediscovered in a barn in Ohio in 1978. Baker’s custom car now belongs to the White Glove Collection in La Crosse, Wisconsin.
About the Author: Samuel Phineas Upham is an investor at a family office/ hedgefund, where he focuses on special situation illiquid investing. Before this position, Phin Upham was working at Morgan Stanley in the Media and Telecom group. You may contact Phin on his Samuel Phineas Upham website or Twitter.