Lewis G. Harriman

{{Short description|American banker (1889–1973)}}

File:Buffalo bankers before S.E.C. Washington, D.C. Jan. 17. The bankers from Buffalo, New York are shown in a huddle during a recess when they were testifying before the Securities and Exchange LCCN2016871152.jpg in Washington, D.C. Left to right: Perry E. Wurst, Executive Vice-President of the Manufactures & Traders Trust Co.; Lewis G. Harriman, Pres. of the M.& T. Trust Co.; and Frank C. Trubee, Jr., President of the Manufactures and Traders Securities Corp.]]

Lewis Gildersleeve Harriman (March 24, 1889 – January 7, 1973) was an American banker.

Early life

Harriman was born in Windsor, Connecticut on March 24, 1889.{{cite book |title=World Biography |date=1948 |publisher=Institute for Research in Biography. |page=2167 |url=https://books.google.com/books?id=AcQ8AQAAIAAJ |access-date=24 January 2023 |language=en}} He was a son of the Rev. Frederick William Harriman (1852–1931) and Cora Elizabeth ({{nee}} Jarvis) Harriman (1854–1932).{{cite book |last1=Revolution |first1=Daughters of the American |title=Lineage Book |date=1917 |publisher=The Society |page=67 |url=https://books.google.com/books?id=jh375qx6TxcC&pg=PA67 |access-date=24 January 2023 |language=en}}{{cite book |title=Papers and Reports Presented to the Connecticut Historical Society at the Annual Meeting |date=1918 |publisher=Connecticut Historical Society |page=34 |url=https://books.google.com/books?id=KxsLAAAAIAAJ&dq=Cora+Elizabeth+Jarvis+Harriman&pg=PA34 |access-date=24 January 2023 |language=en}}

His paternal grandparents were Frederick D. Harriman and Mary ({{nee}} Bostwick) Harriman. Through his great-grandmother, Sophia ({{nee}} Hilton) Harriman, he was a descendant of Moral Hilton, who fought in the Revolutionary War as a Sergeant under Capt. Benjamin Lemont.

He graduated from Trinity College in Hartford with a B.S. degree in 1909 and an M.S. degree in 1917.

Career

From 1909 to 1911, he worked for the Creosoting Company in Louisville. From 1912 to 1915, he was an electrical engineer with the American Real Estate Company in New York City after which he worked for Coggeshell & Hicks, and the Merrill, Lynch & Company. He became assistant trust officer and investment trust officer Guaranty Trust Company in New York City, until 1919 when he joined the Fidelity Trust Company of Buffalo, New York as vice president. In 1924, he became president and the following year, Fidelity Trust merged with the Manufacturers and Traders Trust Company to create a $100 million company that was headed by the 36-year-old Harriman. Harriman and a group of investors including A. H. Schoellkopf, from the founding family of the Niagara Mohawk power company, and James V. Forrestal, who would become the first U.S. Secretary of Defense, owned enough shares to control both Fidelity and M&T.{{cite web |title=M&T Bank Celebrates 150 Years |url=https://ir.mtb.com/static-files/f93b59c8-addf-4e8f-a36a-293baad36b5d |website=ir.mtb.com |publisher=M&T Bank |access-date=18 January 2023 |location=Buffalo, New York |date=August 24, 2006}}{{cite news |title=RESERVE BANK MAY BUY BUILDING IN BUFFALO; Manufacturers and Traders' Structure Involved in Proposed Deal -- Price Is $600,000. |url=https://www.nytimes.com/1926/01/26/archives/reserve-bank-may-buy-building-in-buffalo-manufacturers-and-traders.html |access-date=24 January 2023 |work=The New York Times |date=26 January 1926}} In 1961, Delmer F. Hubbell Jr. succeeded Harriman as President of M&T Discount Corporation, its principal dealer in bankers' acceptances in New York City. Harriman then became chairman of the board.{{cite news |title=President Is Chosen By M. & T. Discount |url=https://www.nytimes.com/1961/01/10/archives/president-is-chosen-by-m-t-discount.html |access-date=24 January 2023 |work=The New York Times |date=10 January 1961}} He served as president of the parent company, M&T Bank, from 1925 to 1954, after which he became chairman of the board. In 1964, Charles W. Millard succeeded Harriman as chairman of M&T and became honorary chairman.

In 1929, he was elected a director of the American Founders' Corporation to succeed George Rea.{{cite news |title=L.G. Harriman on Founders Board |url=https://www.nytimes.com/1929/11/21/archives/lg-harriman-on-founders-board.html |access-date=24 January 2023 |work=The New York Times |date=21 November 1929}} In 1943, he was elected to the board of Delaware, Lackawanna and Western Railroad Company.{{cite news |title=Elected to the Board Of D., L. & W. Managers |url=https://www.nytimes.com/1943/12/31/archives/elected-to-the-board-of-d-l-w-managers.html |access-date=24 January 2023 |work=The New York Times |date=31 December 1943}} In 1945, he was elected to the board of the Sterling Engine Company.{{cite news |title=On Sterling Engine's Board |url=https://www.nytimes.com/1945/09/23/archives/on-sterling-engines-board.html |access-date=24 January 2023 |work=The New York Times |date=23 September 1945}} In 1951, he was appointed a director of the Federal Reserve Bank of New York Buffalo Branch succeeding George G. Kleindinst of the Liberty Bank of Buffalo.{{cite news |title=In Reserve Bank Post |url=https://www.nytimes.com/1951/12/28/archives/in-reserve-bank-post.html |access-date=24 January 2023 |work=The New York Times |date=28 December 1951}}

Personal life

On June 24, 1915, Harriman was married to Grace Bastine. Before their divorce in 1939, they were the parents of five children: Lewis Gildersleeve Harriman Jr, Wiliam Bradford Harriman,{{cite news |last1=TIMES |first1=Special to THE NEW YORK |title=Divorces Lewis G. Harriman |url=https://www.nytimes.com/1939/03/30/archives/divorces-lewis-g-harriman.html |access-date=24 January 2023 |work=The New York Times |date=30 March 1939}} John Howland Harriman (1920–2012), Thomas Harriman, and Elizabeth Harriman (b. 1923), who married Charles Palmer Bean, son of Barton A. Bean Jr., in 1947.{{cite news |last1=Times |first1=Special to the New York |title=ELIZABETH HARRIMAN FIANCEE OF C. P. BEAN |url=https://www.nytimes.com/1947/08/30/archives/elizabeth-harriman-fiancee-of-c-p-bean.html |access-date=24 January 2023 |work=The New York Times |date=30 August 1947}}{{cite news |last1=Condren |first1=Dave |title=CHARLES BEAN, PROFESSOR, DIES; WAS SUPERCONDUCTIVITY SPECIALIST |url=https://buffalonews.com/news/charles-bean-professor-dies-was-superconductivity-specialist/article_222b801a-002c-50d5-a5b5-22280b8784d0.html |access-date=24 January 2023 |work=Buffalo News |date=October 5, 1996 |language=en}}

After his divorce, he married Louise Ely (1899–1975) on October 11, 1939. He adopted Louise’s daughters, Joan (1928) and Ann (1930), but was actually Ann’s paternal father.

Harriman died in Miami-Dade County, Florida on January 7, 1973. After a service at Trinity Episcopal Church, he was buried at Forest Lawn Cemetery, Buffalo.{{cite news |title=Lewis G. Harriman Dies; Banker Achieved Fame for Innovative Ideas |url=https://www.newspapers.com/clip/117154198/lewis-g-harriman-dies-banker-achieved/ |access-date=24 January 2023 |work=The Buffalo News |date=8 January 1973 |pages=15}}

References