Drexel & Co.

Anthony J. Drexel Takes the Helm

After Francis Martin Drexel’s death in 1863, Francis A. Drexel was named senior partner, yet preferred to manage internal operations of the business, while Anthony J. sought out clients and partnerships as director. Youngest brother Joseph W. served as a partner and representative of Drexel & Co. in Chicago, Germany, Paris, and New York.

Anthony J. Drexel mentored and partnered with J.P. Morgan and began one of the most powerful banking interests in the world: Drexel, Morgan & Co. By the end of the nineteenth century, Anthony Drexel and his brothers had significantly increased the wealth of an already lucrative banking firm.

This manuscript is a handwritten lecture script written by a former “counting house boy” and clerk identified as R.S. Russel, who worked at local businesses that engaged with Drexel & Co. for their services in the 1830s-1840s. Russell mentions personal encounters with Francis M. Drexel in Philadelphia and also in Harrisburg. The manuscript appears to have been written for presentation to Russell's “circle” of friends or colleagues, though the nature of that group or when the presentation may have been held is unknown. Two quotes are cited with the initials “JRD,” which, in addition to its presence in the John R. Drexel III and Alice Troth Drexel papers, may indicate that John Rozet Drexel was involved or known to Russell.