FRANCIS ANTHONY DREXEL

'Francis Anthony Drexel' (June 20, 1824 – February 15, 1885) was a Philadelphia banker.

Contents

Birth

Career

First marriage

Second marriage

Legacy

Reference

External links

Birth

He was the oldest son of Francis Martin Drexel (1792-1863), a Tyrolese by birth, and by profession a portrait-painter and musician, who in 1837 turned his attention to finance, and founded the house of Drexel & Co. in Philadelphia with connections with the firms of J.P. Morgan & Co. of New York, and Drexel, Harjes & Co. of Paris. Francis had two brothers, Anthony Joseph Drexel and Joseph William Drexel.

Career

Francis began his financial career at the age of thirteen, and at his father's death in 1863 became the senior member of the firm, and was recognized as one of America's foremost financiers. The house of Drexel & Co. came generously to the support of the public credit at critical periods.

First marriage

He married Hannah J. Langstroth and had the following children: Elizabeth Drexel, who married Walter George Smith, of Philadelphia and died on September 26, 1890; and Katherine Drexel, who entered religion and founded the congregation of the Sisters of the Blessed Sacrament for Indians and Coloured People. For this she was made a Catholic Saint.

Second marriage

He married Emma Bouvier, who died before him, and had a daughter, Louise Bouvier Drexel, who married Edward de Veaux Morrell.

Legacy

In his will Mr. Drexel followed the Biblical injunction of bequeathing a tithe ($1,500,000) of his great estate to religious and charities with the proviso that in case his daughters should leave no children, the entire estate should be distributed among the institutions he specified in his will. His daughters: Elizabeth Drexel Smith and Mrs. Morrell founded the St. Francis Industrial School at Eddington, Pennsylvania. The Francis A. Drexel Chair of Moral Theology in the Catholic University of America was founded by his daughters in honor of Mr. Drexel.

Reference

★ Catholic Encyclopedia

★ Biography at St. Joseph's University

External links

★ Drexel's home in Torresdale