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35-625: The construction of the Baker Library was completed in 1927. It was named for philanthropist George Fisher Baker . From 1930 to 2007, the bell in the tower came from the Danilov Monastery in Moscow, Russia; it had been donated by Charles Richard Crane . The Bloomberg Center was built in 2003–2005. It was named for billionaire alumnus Michael R. Bloomberg 's father, William Henry Bloomberg. The complex includes 67 faculty offices,

70-742: A $ 1 million dollar endowment fund for the Metropolitan Museum of Art . Baker had been a member of the museum board since 1909. Baker donated $ 2 million to Cornell University for the construction of the Baker Laboratory of Chemistry, as well as Baker dormitories, and he endowed the Baker Lecture Series, the oldest continuous lectureship in chemistry in the United States. He made other large donations to charitable causes throughout New York City and funded

105-465: A building or structure in Massachusetts is a stub . You can help Misplaced Pages by expanding it . This article relating to library science or information science is a stub . You can help Misplaced Pages by expanding it . George Fisher Baker George Fisher Baker (March 27, 1840 – May 2, 1931) was an American financier and philanthropist . Known as the "Dean of American Banking", he

140-689: A dozen railroads, several banks, scores of industrial concerns. Baker was "closely associated with" Morgan, the late 19th-century and early 20th-century U.S. robber-baron , monopolist, and Wall Street banker "in his manifold enterprises", according to Richard Boyer and Herbert Morais's 1955 book, Labor's Untold Story . The book notes that "Morgan and associates organized super-trusts in steel ( U.S. Steel ), shipping ( International Mercantile Marine ), and agricultural machinery (International Harvester);" and it also "had its hands in other fields—the railroads (where...some 30,000 miles of railway were controlled), anthracite coal (where from two-thirds to three-quarters of

175-546: A new name: Central Railroad Company of New Jersey. The line reached Phillipsburg , on the east bank of the Delaware River , in 1852. It was extended east across Newark Bay to Jersey City in 1864, and it gradually acquired branches to Flemington , Newark , Perth Amboy , Chester , and Wharton . The New Jersey Southern (NJS) began construction in 1860 at Port Monmouth . The railroad worked its way southwest across lower New Jersey and reached Bayside, New Jersey, on

210-495: A partial interest in the Mount Hope Mineral Railroad from Warren Foundry & Pipe Corporation. Following World War II , passenger traffic diminished, and was almost entirely commuter business, requiring great amounts of rolling stock for two short periods five days a week. Three-fourths of CNJ's freight traffic terminated on line; the railroad was essentially a terminal carrier, which meant little profit

245-468: A small carfloat terminal in The Bronx . It was the site of the first successful Class 1 railroad diesel operation. Over the years CNJ maintained an extensive marine operation on New York Bay , including a steamer line to Sandy Hook. On April 30, 1967, CNJ's last marine service, the ferry line between Manhattan and CNJ's rail terminal at Jersey City , made its last run, which was also the last day for

280-538: Is a list of businesses in which Baker held a controlling or otherwise significant interest during his lifetime. In 1869, Baker was married to Florence Tucker Baker, a daughter of Benjamin Franklin Baker and Sophronia J. (nee Whitney) Baker. Together, they were the parents of: He was a member of the Jekyll Island Club (aka The Millionaires Club) on Jekyll Island, Georgia . He was also a member of

315-479: The Chesapeake and Ohio Railway and Norfolk and Western Railway proposed in 1965 sought to counter the impending PRR merger with New York Central Railroad merger was to have included CNJ, but the bankruptcy of Penn Central Transportation Company killed that prospect. CNJ drafted elaborate plans for reorganization; they came to naught as neighboring railroads collapsed. Conrail took over freight operations of

350-726: The Delaware River west of Bridgeton, New Jersey in 1871. The NJS came under control of the CNJ in 1879. CNJ's influence briefly extended across the Delaware River in the form of the Baltimore & Delaware Bay Railroad, from Bombay Hook, Delaware , east of Townsend , to Chestertown, Maryland . That line became part of the Pennsylvania Railroad (PRR) family in 1901. CNJ's lines in Pennsylvania were built by

385-660: The First National Bank of the City of New York . The first national bank to be chartered in New York City under the National Currency Act of 1863 , it became a forerunner of today's Citibank, N.A. Baker became First National's president at age 37, on September 1, 1877. His 20,000 shares were worth about $ 20 million ($ 572,250,000 today ). He retired as president in 1909, and became chairman of

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420-582: The Lehigh Coal & Navigation Company as the Lehigh and Susquehanna Railroad (L&S). The main line was completed between Phillipsburg, New Jersey and Wilkes-Barre in 1866. A notable feature of the line was the Ashley Planes , a steep stretch of line (maximum grade was 14.65%) operated by cables driven by stationary engines, which remained in service until after World War II (WWII). CNJ leased

455-609: The New York Yacht Club , having been elected in 1895. Baker died in New York City on May 2, 1931. Baker lived on Madison Avenue in New York City, and maintained a summer property on Jekyll Island near Brunswick, Georgia , and had an estate in Tuxedo Park, New York . In 1929, Baker commissioned the construction of a unique Pierce-Arrow town car for the wedding of his daughter. Built by LeBaron ,

490-766: The S.S. Seward Institute in Florida, New York , where he studied geography, bookkeeping, history, and algebra. At 16, he was hired as a junior clerk in the New York State Banking Department . Baker did not attend university, but instead enlisted in the 18th Regiment of the Massachusetts Volunteers at the start of the U.S. Civil War , and achieved the ranks of first lieutenant and adjutant . In 1863, Baker, along with his mentor, John Thompson , and Thompson's sons Frederick Ferris Thompson and Samuel C. Thompson, co-founded

525-563: The CNJ on April 1, 1976; with passenger routes transferred to the New Jersey Department of Transportation including the present New Jersey Transit North Jersey Coast Line and Raritan Valley Line . In 1961, the Lehigh and New England Railroad was abandoned, and CNJ acquired a few of its branches and organized them as the Lehigh and New England Railroad . In 1963, Lehigh Coal & Navigation sold its railroad properties to

560-579: The CNJ was leased to and operated by the Philadelphia & Reading Railroad , with which it formed a New York-Philadelphia route. CNJ resumed its own management after reorganization in 1887. The primary rolling stock repair shops were located in Elizabethport, New Jersey along Trumbull Avenue. In 1901 the original shops were razed and new, concrete shops took their place, capable of servicing 430 locomotives and 20,000 freight cars annually. With

595-487: The CNJ was the Elizabethtown & Somerville Railroad, incorporated in 1831 and opened from Elizabethport to Elizabeth, New Jersey in 1836. Horses gave way to steam in 1839, and the railroad was extended west, reaching Somerville at the beginning of 1842. The Somerville and Easton Railroad was incorporated in 1847 and began building westward. In 1849, it purchased the Elizabethtown & Somerville and adopted

630-744: The L&;S in 1871. The line was extended to Scranton in 1888 by a subsidiary of the L&S, the Wilkes-Barre & Scranton; L&S leased the line upon completion and assigned the lease to the CNJ. The bulk of the traffic on the Pennsylvania lines was anthracite coal, much of it produced by subsidiaries of the railroad, until the Commodities Clause of the Interstate Commerce Act of 1920 forbade railroads to haul freight in which they had an interest. From 1883 to 1887,

665-672: The RDG, but the lease to the CNJ continued. In 1964, the state of New Jersey began subsidizing commuter service, and the tax situation changed in 1967. In 1965, CNJ and the Lehigh Valley Railroad consolidated their lines along the Lehigh River in Pennsylvania and portions of each railroad's line were abandoned; the commercial anthracite traffic that had supported both railroads had largely disappeared. CNJ operations in Pennsylvania ended March 31, 1972. CNJ maintained

700-486: The RDG. B&O also used CNJ tracks for the final approach to Jersey City. CNJ operated several named trains, most of which were interstate operations: Several non-CNJ trains operated over CNJ trackage north of Bound Brook, New Jersey to the Jersey City terminal: To celebrate its 30th anniversary in 2012, Norfolk Southern painted 20 new locomotives with predecessor schemes. NS #1071, an EMD SD70ACe locomotive,

735-535: The bay into Bayonne, and north to the Jersey City terminus. It had used a succession of bridges over the years, the last being Newark Bay Bridge , demolished in the 1980s. From Elizabethport, trains went to different corridors. One headed towards Elizabeth and Plainfield and points west and southwest. The second went south towards Perth Amboy and today's North Jersey Coast Line and different southern New Jersey destinations. CNJ operated several trains into Pennsylvania and other points west or south, in association with

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770-475: The board. He was succeeded in the presidency by Francis L. Hine, the former vice president of the bank. An avid investor, he held interests in many corporations and was the largest stockholder in the Central Railroad of New Jersey . He was a director in 22 corporations, which with their subsidiaries had aggregate resources of $ 7.27 billion. He was the largest individual owner of U.S. Steel stock; in

805-422: The car's roof line was 5 inches taller than standard models so Baker could keep his top hat on. Trim lining in the rear compartment is made of 24-carat gold, as are perfume dispensers and an intercom. Baker provided much of the initial funding for Harvard Business School with a 1924 grant of $ 5 million, for which Harvard gave him an honorary doctorate and named the library after him. In 1922, Baker established

840-474: The construction of Baker Field , Columbia University 's primary athletic facility. He provided $ 2 million for Baker Memorial Library at Dartmouth College . Central Railroad of New Jersey The Central Railroad of New Jersey , also known as the Jersey Central , Jersey Central Lines or New Jersey Central ( reporting mark CNJ ), was a Class I railroad with origins in the 1830s. It

875-822: The de Gaspé Beaubien Reading Room, named for alumnus Philippe de Gaspé Beaubien , the Stamps Reading Room and the Frist Faculty Commons, named for philanthropist Thomas F. Frist Jr. The 1927 building was designed in the Georgian Revival style by McKim, Mead & White . The 2005 expansion was designed by Robert A.M. Stern Architects and cost $ 53.4 million. The library collections contain many rare books and documents of business history . 42°21′59.29″N 71°7′22.12″W  /  42.3664694°N 71.1228111°W  / 42.3664694; -71.1228111 This article about

910-449: The early 1920s, his shares were worth some $ 5,965,000 (equivalent to around $ 83,245,000 in 2017 dollars), according to a May 4, 1924, article in Time . The April 14, 1924, edition of Time said of Baker: True, he is twice as rich as the original J.P. Morgan , having a fortune estimated at 200 millions. True, at the age of 84 when he has retired from many directorates, he dominates half

945-595: The entire shipment was in Morgan hands)." Other Morgan monopolies included electrical machinery ( General Electric ), communications ( AT&T , Western Union ), traction companies ( IRT in New York, Hudson & Manhattan), and insurance ( Equitable Life ). In 1934, Time called him "the richest, most powerful and most taciturn commercial banker in U. S. history", while an article in Newsweek described him as one of

980-553: The most imposing figures in banking history. In the November 1994 issue of Worth magazine, James Grant, editor of the financial newsletter Grant's Interest Rate Observer, calls Baker a hidebound turn-of-the-century banker who always got his loans repaid. Baker was famously silent in public, never commenting on events or giving interviews, until 1922, at age 82, when he gave his first newspaper interview. Thereafter, he spoke occasionally at luncheons and gatherings. The following

1015-608: The primary freight and passenger yards at Jersey City, New Jersey opposite Manhattan, a terminal and shop site was also needed in the Communipaw neighborhood. This facility was modernized in 1914 and included two roundhouses and light repair shops. In 1901, the Reading Company (RDG), successor to the Philadelphia & Reading, acquired control of the CNJ through purchase of a majority of its stock, and at about

1050-487: The same time Baltimore & Ohio Railroad (B&O) acquired control of the RDG, gaining access to New York over RDG and CNJ rails. In 1929, CNJ inaugurated the Blue Comet , a deluxe coach train operating twice daily between Jersey City and Atlantic City . It was painted blue from the pilot of its 4-6-2 to the rear bulkhead of its observation car, and its refurbished cars offered a level of comfort much higher than

1085-723: The terminal itself; the next day CNJ passenger trains began originating and terminating at the PRR station in Newark via the Aldene Connection , where New York City passengers could transfer to either PRR or Port Authority Trans-Hudson (PATH) trains. In 1979, CNJ emerged from bankruptcy as Central Jersey Industries, later renamed CJI Industries. In 1986, it merged with the packaging company Triangle Industries, owned by Nelson Peltz . CNJ had its northeastern terminus at Elizabethport, New Jersey. In 1864 CNJ extended its railroad across

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1120-552: The usual day coach of the era. The train was the forerunner of the coach streamliners that blossomed nationwide in the late 1930s and the 1940s. It succumbed to automobile competition in 1941. Also in 1929 CNJ purchased a 30 percent interest in the Raritan River Railroad , a 12-mile (19 km) short line from South Amboy to New Brunswick. In 1931 it acquired total ownership of the Wharton & Northern Railroad and

1155-788: Was absorbed into Conrail in April 1976 along with several other prominent bankrupt railroads of the Northeastern United States . The CNJ's main line had a major presence in New Jersey. Most of the main line is now used by the Raritan Valley Line passenger service. CNJ main line trackage in Phillipsburg, New Jersey became part of the Lehigh Line under Conrail. The earliest railroad ancestor of

1190-679: Was also known for his taciturnity. Baker made a fortune after the Civil War in railroads and banking, and at his death was estimated to be the third-richest man in the United States, after Henry Ford and John D. Rockefeller . Baker was born in Troy, New York , to Eveline Stevens Baker and George Ellis Baker , a shoe-store owner who was elected in 1850 on the Whig ticket to the New York State Assembly . At 14, young George entered

1225-653: Was made, if any. In addition, heavy taxes levied by the state of New Jersey ate up much of CNJ's revenue. In 1946, the lines in Pennsylvania were organized as the Central Railroad of Pennsylvania (CRP) in an effort to escape taxation by the state of New Jersey. CNJ resumed its own operation of the Pennsylvania lines at the end of 1952. The CRP continued in existence as owner of the Easton & Western, four miles of track in Easton, Pennsylvania . The merger between

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