Photograph of Goodhue, 1905, Library of Congress

Francis Abott Goodhue Jr. (June 14, 1883 – June 1963)[1] was an American banker who was the president of the Bank of the Manhattan Company from 1931 to 1948.

Early life

Goodhue was born in Brookline, Massachusetts on June 14, 1883.[1] He was a son of Francis Abott Goodhue (1847–1905) and Elizabeth Johnson (née Cushing) Goodhue. His siblings were Lawrence Cushing Goodhue (husband of Gertrude Munroe Smith, a daughter of Prof. Munroe Smith and granddaughter of Gen. Henry S. Huidekoper) and Elizabeth Cushing Goodhue (wife of Claude Fuess, Headmaster of Phillips Academy). His paternal grandparents were Samuel Goodhue and Mary Caroline (née Williams) Goodhue.

After graduating from Philips Academy in Andover, Massachusetts, he attended Harvard College where he graduated in 1906,[1] followed by one year at Harvard Law School.[2]

Career

In 1907, Goodhue began his banking career as a messenger with First National Bank of Boston. He became president of the Brookline Trust Company in 1912 a year before he was named vice president of the First National Bank of Boston and engaged in foreign banking activities. In 1917, he established a branch of the bank in Buenos Aires, Argentina.[1] In 1919, while at First National, he "inspired the formation" of the French American Banking Corporation of New York, serving as a director.[2]

In 1921, Goodhue came to New York City to help organize the International Acceptance Bank, of which he served as president from 1921 until 1931, with James Warburg (the son of Paul Warburg) as his vice president. The International Acceptance Bank was acquired by the Bank of the Manhattan Company in 1929, with Goodhue becoming president and Warburg becoming chairman of the combined organization.[2]

In 1929, he was elected president of the American Acceptance Council which had been founded by Paul Warburg in 1919. In 1931, he was succeeded by Charles S. McCain, chairman of the board of the Chase National Bank.[3]

When International Acceptance merged with the Bank of the Manhattan Company in 1931,[4] he became president of the combined bank serving in that role until his retirement in 1948 when he was succeeded by Lawrence C. Marshall.[5]

Volunteer and philanthropic efforts

In 1918, Goodhue served as one of three representing the United States on the Interallied Committee for War, Purchases and Finance in London. In 1932, he began serving on the American Committee on Standstill Credits to Germany. He resigned in 1939 because the bank had no longer had any outstanding debts under the agreement.[6][7]

In 1937, he accepted the chairmanship of the finance section in the United Hospitals Campaign. In that role, he directed the work of nineteen major solicitation groups on behalf of the ninety-two voluntary hospitals in the fund and the Visiting Nurse Association of Brooklyn.[8]

In 1942, Governor Herbert H. Lehman nominated Goodhue to replace Mortimer N. Buckner on the State Banking Board, Group 1, which acted as an advisory "cabinet" to the New York State Superintendent of Banks.[9] Group 1 was originally reserved for nominees of the ten banks with deposits of more than $150,000,000 when it was established in 1932.[10]

After his retirement from the Manhattan Company in 1948, he continued to serve on the board until 1955 when the bank was merged with the Chase National Bank becoming the Chase Manhattan Bank. Goodhue served as a member of the bank's trust advisory board until his death in 1963.[1]

Personal life

Goodhue was married to Nora Forbes Thayer (1889–1988). She was a daughter of the former Evelyn Duncan Forbes and prominent ornithologist John Eliot Thayer (the twin brother of yachtsman Bayard Thayer).[11] Her paternal grandparents were banker Nathaniel Thayer Jr. and Cornelia Van Rensselaer Thayer (a daughter of Stephen Van Rensselaer IV).[12] Together, they were the parents of:

Goodhue died of a heart attack at his home, 16 Ives Road, Hewlett on Long Island, in June 1963.[1] They also had a home in Lancaster.[24]

Descendants

Through his son Francis, he was a grandfather of Francis Abott Goodhue IV, who married Evelyn Treat Cutler, a daughter of Philip Cutler of Dresden Mills, Maine (the founding headmaster of the Brookwood School in Manchester-by-the-Sea), in 1976.[25]

References

  1. 1 2 3 4 5 6 "F.A.GOODHUE DIES; BANK PRESIDENT; Headed Bank of Manhattan Company from '31 to '48". The New York Times. 11 June 1963. Retrieved 25 August 2020.
  2. 1 2 3 "J.S. BAKER HEAD OF MANHATTAN CO.; As Chairman He Succeeds Late P.M. Warburg, Whose Son Is Made Vice Chairman. NEW POST FOR F.A. GOODHUE President of the Manhattan Trust Heads Board of International Acceptance Bank". The New York Times. 5 February 1932. Retrieved 26 August 2020.
  3. ↑ "C.S.M'CAIN HEADS ACCEPTANCE COUNCIL; Succeeds Goodhue, Who Has Served Two Years--Other Officers Elected". The New York Times. 4 December 1931. Retrieved 26 August 2020.
  4. ↑ "MANHATTAN CO.TO BE A BANK ONCE MORE; Board Decides to Absorb Allied Institutions or Parcel Them to Share Owners. VOTE, BY HOLDERS NOV. 22 Name Used From 1799 to 1929 to Be Revived -- New Policy Due to Public Opinion. PAR OF STOCK TO BE HALVED Total Capital Funds, $56,816,466. to Remain the Same -- Change in Dividend Rate Unlikely. MANHATTAN CO. TO BE A BANK ONCE MORE". The New York Times. 20 October 1932. Retrieved 26 August 2020.
  5. ↑ "New President Is Chosen By Bank of Manhattan". The New York Times. 15 December 1948. Retrieved 26 August 2020.
  6. ↑ "Goodhue Quits Standstill Group". The New York Times. 20 December 1939. Retrieved 25 August 2020.
  7. ↑ "Two More Trade Acceptance Bodies Formed; Goodhue and Shepard Elected Chairmen". The New York Times. 19 July 1932. Retrieved 26 August 2020.
  8. ↑ "F. A. GOODHUE HEADS HOSPITAL FUND GROUP; Chairman of Finance Section--Dinner Tonight to Launch United Campaign". The New York Times. 25 October 1937. Retrieved 25 August 2020.
  9. ↑ TIMES, Special to THE NEW YORK (23 April 1942). "NAMED BANKING BOARD; F.A. Goodhue Nominated by Governor for State Post". The New York Times. Retrieved 25 August 2020.
  10. ↑ "Big Banks Here Name Buckner For Place in State 'Cabinet'". The New York Times. 30 March 1932. Retrieved 25 August 2020.
  11. ↑ "JOHN ELIOT THAYER, ORNITHOLOGIST, DEAD; Collection of Birds, Believed to Largest on Continent, Housed in Mnseam He Donated". The New York Times. 23 July 1933. Retrieved 25 August 2020.
  12. ↑ Reynolds, Cuyler (1911). Hudson-Mohawk Genealogical and Family Memoirs: A Record of Achievements of the People of the Hudson and Mohawk Valleys in New York State, Included Within the Present Counties of Albany, Rensselaer, Washington, Saratoga, Montgomery, Fulton, Schenectady, Columbia and Greene. Lewis Historical Publishing Company. p. 25. Retrieved 25 August 2020.
  13. ↑ "Francis A. Goodhue Jr., Lawyer, 74". The New York Times. 14 September 1990. Retrieved 25 August 2020.
  14. ↑ "Brier--Goodhue". The New York Times. 16 April 1948. Retrieved 25 August 2020.
  15. ↑ Cooper, Michael (26 March 2004). "Mary B. Goodhue Is Dead at 82; A State Legislator for 18 Years". The New York Times. Retrieved 25 August 2020.
  16. ↑ "Phoebe Milliken". Mount Desert Islander. December 3, 2019. Retrieved 26 August 2020.
  17. ↑ "SOCIETY WELCOMES PHOEBE T. GOODHUE; Debutante Dressed in White Tulle, Receives Guests at Dance in the Pierre". The New York Times. 22 December 1937. Retrieved 25 August 2020.
  18. ↑ TIMES, Special to THE NEW YORK (9 August 1942). "MISS GOODHUE WED TO NAVAL OFFICER; Hewlett Girl Becomes Bride of Lieut. Warren Winslow in Lancaster, Mass., Church SHE HAS TWO ATTENDANTS Henry Freeman Allen Serves as Best Man -- 3 Brothers of Bride Are Ushers". The New York Times. Retrieved 25 August 2020.
  19. ↑ TIMES, Special to THE NEW YORK (18 August 1946). "MRS. P.G. WINSLOW MARRIED IN BOSTON; Daughter of F. Abbot Goodhue Bride of Gerrish H. Milliken Jr., Who Served in Army". The New York Times. Retrieved 25 August 2020.
  20. ↑ "Anne Smith Is Bride of John Goodhue". The New York Times. 30 May 1982. Retrieved 26 August 2020.
  21. ↑ "Charlotte Goodhue Obituary (1927-2013)". www.legacy.com. Monadnock Ledger-Transcript. Retrieved 26 August 2020.
  22. ↑ "NUPTIALS ARE HELD FOR MISS STREETER; She Becomes Bride of John T. Goodhue in Episcopal Church of the Holy Trinity". The New York Times. 18 December 1949. Retrieved 25 August 2020.
  23. ↑ "Judith Wiener Weds Stephen Goodhue". The New York Times. 2 November 1986. Retrieved 25 August 2020.
  24. ↑ "A. F. Goodhue residence". www.digitalcommonwealth.org. Retrieved 25 August 2020.
  25. ↑ "Evelyn Cutler, F. A. Goodhue 3d. Will Be Married". The New York Times. 23 June 1974. Retrieved 25 August 2020.
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