C. Ledyard Blair
Encyclopedia
Clinton Ledyard Blair was a prominent American
investment banker
and yachtsman
.
Blair was the grandson of John Insley Blair
, one of the wealthiest men of the 19th century, and the son of DeWitt Clinton Blair
and Mary Anna Kimball Blair. Born in Belvidere, New Jersey
, he attended the Lawrenceville School
and graduated from Princeton University
in 1890 with a B.A.
degree. He married Florence Osborne Jennings on October 1, 1891 and they had four daughters: Marjory Bruce, Florence Ledyard, Edith Dodd, and Marie Louise.
While still a senior at Princeton, Blair joined his father and grandfather in founding the banking firm of Blair & Company, primarily to manage railroad interests linked to the Gould
family. The company underwrote a $50 million bond issue of the Western Pacific Railroad
and helped in the financial management of the Denver and Rio Grande Western Railroad
and the Western Maryland Railroad
.
After Blair & Co. merged with the firm of William Salomon & Co. in April 1920 under the name Blair & Co., Inc., Ledyard Blair was named chairman of the board of directors. He was also the director of several railway companies, including the Clinchfield Railroad
, the Sussex Railroad
, and the Green Bay and Western Railroad
.
An avid yachtsman, Blair was named commodore of the New York Yacht Club
in 1910. During World War I
he turned over his 254-foot steel yacht, Diana, to the U.S. government and gave up yachting. At the outbreak of the war in 1914, Blair was on the SS Kronprinzessin Cecilie
, a North German Lloyd
ocean liner, sailing from New York City
to Plymouth
, England
. Nearing Plymouth, news of hostilities forced the ship to turn back. Blair took the helm and safely piloted the ship to Bar Harbor, Maine
, where his family had a summer home. The ship was carrying $10 million in gold and $3.5 million in silver.
Blairsden, Ledyard Blair's opulent 38-room mansion in Peapack-Gladstone, New Jersey
, was built between 1898 and 1903. Lavish weddings for the Blair daughters were held at Blairsden: Marjory Blair to William Clark
(September 20, 1913), Florence Blair to H. Rivington Pyne (June 16, 1916), Edith Blair to Richard Gambrill (June 21, 1917), and Marie Louise Blair to Pierpont M. Hamilton
(September 11, 1919). He also owned a mansion in New York City
.
Blair's first wife Florence died on November 15, 1931, and in 1936 he married Harriet Stewart Brown, widow of T. Suffern Tailer and daughter of Baltimore banker Alexander Brown. In addition to Blairsden, they entertained at residences in Newport, Rhode Island
(Honeysuckle Lodge) and Bermuda
(Deepdene).
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
investment banker
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
and yachtsman
Yachting
Yachting refers to recreational sailing or boating, the specific act of sailing or using other water vessels for sporting purposes.-Competitive sailing:...
.
Blair was the grandson of John Insley Blair
John Insley Blair
John Insley Blair was an American entrepreneur, railroad magnate, philanthropist and one of the 19th century's wealthiest men.-Biography:...
, one of the wealthiest men of the 19th century, and the son of DeWitt Clinton Blair
DeWitt Clinton Blair
DeWitt Clinton Blair , born in Gravel Hill, New Jersey , was the son of John Insley Blair and Nancy Anne Locke. He continued his father's varied business interests and philanthropy. He graduated from Princeton University with the Class of 1856, and served as a Princeton trustee from 1900-1909...
and Mary Anna Kimball Blair. Born in Belvidere, New Jersey
Belvidere, New Jersey
Belvidere is a Town in Warren County, New Jersey, United States. As of the 2010 United States Census, the town population was 2,681. It is the county seat of Warren County....
, he attended the Lawrenceville School
Lawrenceville School
The Lawrenceville School is a coeducational, independent preparatory boarding school for grades 9–12 located on in the historic community of Lawrenceville, in Lawrence Township, New Jersey, U.S., five miles southwest of Princeton....
and graduated from Princeton University
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....
in 1890 with a B.A.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
degree. He married Florence Osborne Jennings on October 1, 1891 and they had four daughters: Marjory Bruce, Florence Ledyard, Edith Dodd, and Marie Louise.
While still a senior at Princeton, Blair joined his father and grandfather in founding the banking firm of Blair & Company, primarily to manage railroad interests linked to the Gould
George Jay Gould I
George Jay Gould I was a financier and the son of Jay Gould. He was himself a railroad executive, leading both the Denver and Rio Grande Western Railroad and the Western Pacific Railroad ....
family. The company underwrote a $50 million bond issue of the Western Pacific Railroad
Western Pacific Railroad
The Western Pacific Railroad was a Class I railroad in the United States. It was formed in 1903 as an attempt to break the near-monopoly the Southern Pacific Railroad had on rail service into northern California...
and helped in the financial management of the Denver and Rio Grande Western Railroad
Denver and Rio Grande Western Railroad
The Denver & Rio Grande Western Railroad , often shortened to Rio Grande or D&RGW, formerly the Denver & Rio Grande Railroad, is a defunct U.S. railroad company. The railroad started as a narrow gauge line running south from Denver, Colorado in 1870; however, served mainly as a transcontinental...
and the Western Maryland Railroad
Western Maryland Railway
The Western Maryland Railway was an American Class I railroad which operated in Maryland, West Virginia, and Pennsylvania. It was primarily a coal hauling and freight railroad, with a small passenger train operation. The WM became part of the Chessie System in 1973 and ceased operating its lines...
.
After Blair & Co. merged with the firm of William Salomon & Co. in April 1920 under the name Blair & Co., Inc., Ledyard Blair was named chairman of the board of directors. He was also the director of several railway companies, including the Clinchfield Railroad
Clinchfield Railroad
The Clinchfield Railroad was an operating and holding company for the Carolina, Clinchfield and Ohio Railway . The line ran from the coalfields of Virginia and Elkhorn City, Kentucky, to the textile mills of South Carolina...
, the Sussex Railroad
Sussex Railroad
The Sussex Railroad was a short-line railroad in northwestern New Jersey. It replaced its predecessor, the Sussex Mine Railroad, in 1853 and operated under the Sussex Railroad Company until 1945 when it was fully merged into the Delaware, Lackawanna and Western Railroad system...
, and the Green Bay and Western Railroad
Green Bay and Western Railroad
The Green Bay and Western Railroad served the transportation and freight haulage needs of northern Wisconsin for almost 100 years before it was absorbed into the Wisconsin Central in 1993...
.
An avid yachtsman, Blair was named commodore of the New York Yacht Club
New York Yacht Club
The New York Yacht Club is a private social club and yacht club based in New York City and Newport, Rhode Island. It was founded in 1844 by nine prominent sportsmen. The members have contributed to the sport of yachting and yacht design. The organization has over 3,000 members as of 2011. ...
in 1910. During World War I
World War I
World War I , which was predominantly called the World War or the Great War from its occurrence until 1939, and the First World War or World War I thereafter, was a major war centred in Europe that began on 28 July 1914 and lasted until 11 November 1918...
he turned over his 254-foot steel yacht, Diana, to the U.S. government and gave up yachting. At the outbreak of the war in 1914, Blair was on the SS Kronprinzessin Cecilie
SS Kronprinzessin Cecilie
SS Kronprinzessin Cecilie was an ocean liner built in Stettin, Germany in 1906 for North German Lloyd that had the largest steam reciprocating machinery ever fitted to a ship. The last of four ships part of the kaiser class, she was also the last German ship to have been built with four funnels....
, a North German Lloyd
Hapag-Lloyd
Hapag-Lloyd is a German transportation company comprising a cargo container shipping line, Hapag-Lloyd AG, which in turn owns other subsidiaries such as Hapag-Lloyd Ships and a cruise line, Hapag-Lloyd Cruises which is now integrated into TUI AG, Hanover...
ocean liner, sailing from 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...
to Plymouth
Plymouth
Plymouth is a city and unitary authority area on the coast of Devon, England, about south-west of London. It is built between the mouths of the rivers Plym to the east and Tamar to the west, where they join Plymouth Sound...
, England
England
England is a country that is part of the United Kingdom. It shares land borders with Scotland to the north and Wales to the west; the Irish Sea is to the north west, the Celtic Sea to the south west, with the North Sea to the east and the English Channel to the south separating it from continental...
. Nearing Plymouth, news of hostilities forced the ship to turn back. Blair took the helm and safely piloted the ship to Bar Harbor, Maine
Bar Harbor, Maine
Bar Harbor is a town on Mount Desert Island in Hancock County, Maine, United States. As of the 2010 census, its population is 5,235. Bar Harbor is a famous summer colony in the Down East region of Maine. It is home to the College of the Atlantic, Jackson Laboratory and Mount Desert Island...
, where his family had a summer home. The ship was carrying $10 million in gold and $3.5 million in silver.
Blairsden, Ledyard Blair's opulent 38-room mansion in Peapack-Gladstone, New Jersey
Peapack-Gladstone, New Jersey
Peapack and Gladstone is a borough in Somerset County in the U.S. state of New Jersey. As of the 2010 Census, the borough population was 2,582...
, was built between 1898 and 1903. Lavish weddings for the Blair daughters were held at Blairsden: Marjory Blair to William Clark
William Clark (judge)
William Clark was a United States federal judge.Clark was born on February 1, 1891 in Newark, New Jersey. His father, John William Clark, was president of the Clark Thread Company of Newark. William Clark (February 1, 1891 – October 10, 1957) was a United States federal judge.Clark was born...
(September 20, 1913), Florence Blair to H. Rivington Pyne (June 16, 1916), Edith Blair to Richard Gambrill (June 21, 1917), and Marie Louise Blair to Pierpont M. Hamilton
Pierpont M. Hamilton
Pierpont Morgan Hamilton was a general officer in the United States Air Force. As a United States Army Air Forces officer in World War II, he was the recipient of the United States military's highest decoration, the Medal of Honor. Hamilton and Col. Demas T...
(September 11, 1919). He also owned a mansion in New York City
C. Ledyard Blair House
The C. Ledyard Blair House was a mansion located on 2 East 70th Street in New York City. It was constructed for C. Ledyard Blair....
.
Blair's first wife Florence died on November 15, 1931, and in 1936 he married Harriet Stewart Brown, widow of T. Suffern Tailer and daughter of Baltimore banker Alexander Brown. In addition to Blairsden, they entertained at residences in Newport, Rhode Island
Newport, Rhode Island
Newport is a city on Aquidneck Island in Newport County, Rhode Island, United States, about south of Providence. Known as a New England summer resort and for the famous Newport Mansions, it is the home of Salve Regina University and Naval Station Newport which houses the United States Naval War...
(Honeysuckle Lodge) and Bermuda
Bermuda
Bermuda is a British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States, its nearest landmass is Cape Hatteras, North Carolina, about to the west-northwest. It is about south of Halifax, Nova Scotia, Canada, and northeast of Miami, Florida...
(Deepdene).