Copyright © Philip M. Parker, INSEAD. Terms of Use.

Jay Cooke

Definition: Jay Cooke

Jay Cooke

Noun

1. American financier who marketed Union bonds to finance the Civil War; the failure of his bank resulted in a financial panic in 1873 (1821-1905).

Source: WordNet 1.7.1 Copyright © 2001 by Princeton University. All rights reserved.
 


Synonym: Jay Cooke

Synonym: Cooke (n). (additional references)

Top     

Specialty Definition: Jay Cooke

(From Wikipedia, the free Encyclopedia)

Jay Cooke (August 10, 1821-February 18, 1905), American financier, was born at Sandusky, Ohio, the son of Eleutheros Cooke (1787-1864), a pioneer Ohio lawyer, and Whig member of Congress from that state in 1831-1833.

Seemingly destined for a commercial career, Jay Cooke received a preliminary training in a trading house in St. Louis, Missouri and in the booking office of a transportation company in Philadelphia, and at the age of eighteen entered the Philadelphia house of E.W. Clark & Company, one of the largest private banking firms in the country. Three years later he was admitted to membership in the firm, and before age 30 was also a partner in the New York City and St. Louis branches of the Clarks.

The Railroads

In 1858 he retired from the firm, and for the next three years he devoted himself to reorganizing abandoned Pennsylvania railways and canals and placing them again in operation. On January 1, 1861 he opened the private banking house of Jay Cooke & Company in Philadelphia, and quickly floated a war loan of $3,000,000 for the state of Pennsylvania.

Financier of the Civil War

In the early months of the American Civil War, Cooke cooperated with the secretary of the treasury, Salmon P. Chase, in securing loans from the leading bankers in the Northern cities, and his own firm was so successful in distributing treasury notes that Chase engaged him as special agent for the sale of the $500,000,000 of so-called "five-twenty" bonds authorized by Congress on February 25, 1862. The treasury department had previously failed in selling these bonds.

Cooke secured the influence of the American press, appointed 2,500 sub-agents, and quickly sold $11,000,000 more of bonds than had been authorized. Congress immediately sanctioned the excess. At the same time, Cooke influenced the establishment of national banks, and organized a national bank at Washington and another at Philadelphia almost as quickly as Congress could authorize the institutions.

In the early months of 1865, with the government facing pressing financial needs in the wake of disappointing sales of the new "seven-thirty" notes by the national banks, Cooke’s services were again secured. He sent agents into remote villages and hamlets, and even into isolated mining camps in the west, and persuaded rural newspapers to praise the loan. Between February and July 1865 he disposed of three series of the notes, reaching a total of $830,000,000. This allowed the Union soldiers to be supplied and paid during the final months of the war.

Northern Pacific Railroad

After the war, Cooke became interested in the development of the northwest, and in 1870 his firm financed the construction of the Northern Pacific railway. In advancing the money for the work, the firm overestimated its capital, and at the approach of the Panic of 1873 it was forced to suspend. Cooke himself was forced into bankruptcy.

By 1880 Cooke had met all his financial obligations, and through an investment in a silver mine in Utah had again become wealthy. He died in Ogontz, Pennsylvania, on February 18, 1905.

Philanthropy

A devout Christian, Cooke regularly gave 10 percent of his income for religious and charitable purposes. After he had been forced to give up his Ogontz estate in bankruptcy, he later repurchased it and converted it into a school for girls.

adapted from 1911 edition of l'EB

Source: adapted by the editor from Wikipedia, the free encyclopedia under a copyleft GNU Free Documentation License (GFDL) from the article "Jay Cooke."

Top     

Image Slideshow: Jay Cooke

Photos:
Jay Cooke

More pictures...

Illustrations:
Jay Cooke

More pictures...

Top     

Anagrams: Jay Cooke

Scrabble® Enable2K-Verified Anagrams

Words within the letters "a-c-e-j-k-o-o-y"

-2 letters: cookey, jockey.

-3 letters: cakey, cooey, cooky, jacky, jocko, jokey.

-4 letters: cake, caky, coke, cook, jack, jake, jock, joey, joke, joky, kayo, okay, yack, yock, yoke.

-5 letters: ace, aye, cay, coo, coy, jay, joe, joy, kae, kay, kea, key, koa, oak, oca, oka, oke, yak, yea, yok.

Source: compiled by the editor from various references; see credits.

SCRABBLE® is a registered trademark. All intellectual property rights in and to the game are owned in the U.S.A and Canada by Hasbro Inc., and throughout the rest of the world by J.W. Spear & Sons Limited of Maidenhead, Berkshire, England, a subsidiary of Mattel Inc. Mattel and Spear are not affiliated with Hasbro.

Top     

Alternative Orthography: Jay Cooke


Hexadecimal (or equivalents, 770AD-1900s) (references)

4A 61 79      43 6F 6F 6B 65

Leonardo da Vinci (1452-1519; backwards) (references)

    

Binary Code (1918-1938, probably earlier) (references)

01001010 01100001 01111001 00100000 01000011 01101111 01101111 01101011 01100101

HTML Code (1990) (references)

&#74 &#97 &#121 &#32 &#67 &#111 &#111 &#107 &#101

ISO 10646 (1991-1993) (references)

004A 0061 0079      0043 006F 006F 006B 0065

Encryption (beginner's substitution cypher): (references)

44679123781817771

Top     

 

INDEX

1. Definition
2. Synonyms
3. Images: Slideshow
4. Anagrams 		5. Orthography
6. Bibliography


  

Copyright © Philip M. Parker, INSEAD. Terms of Use.

 

 

 

 

Note to the press & webmasters - this dictionary can be linked, indexed, or referred to using the following non-English expressions:
woordeboek, fjalor, ‏معجم, ‏قاموس, diccionariu, речник, diccionari, diksyonario, diksinario, 字典, gérlyver, slovník, ordbog, woordenboek, shimiyuc p'anca, orðabók, orðbók, dictionnaire, wurdboek, wörterbuch, λεξικό, אוצר מילים, szótár, uqausiit tukingit, dizionario, 字引 , じい, じびき, じて", ディクショナリー , じり", じしょ, '"かい, ディクショナリ , 사 , dizionari, recnik, fockleyr, dikshonario, słownik, dicionário, dicţionar, dicziunari, словарь, lolomi fefiloi, foclair, abardair, faclair, briathrachan, pukuntau, leksikon, rečnik, vocabbulariu, diccionario, sí-chazamagâma, ordbok, lexikon, พจนานุกรม, sözlük, ansiklopedik sözlük, словник, довідник, có tính chất sách vở, geirlyfr, geiriadur, for dictionary;
definisie, qartësi, përcaktim, saktësi, ‏الوضوحية في الشيء, ‏حد, ‏تحديد, ‏تعريف, ‏التحديد, ‏الإيضاحية, яснота, сила, очертания, дефиниция, 定義 , 定义, definice, deskriptordefinition, definitie, määritelmä, définition, ορισμός, "'"ר", "'בל", meghatározás, definíció, definizione, 確定 , ディーゼル電気車 , デ'ドロ酢酸 , デフィニション , ディフィニション , ていぎ, かくてい, 의, geyrid, meenaghey, keeayllaght, baght, definishon, definição, definiţie, determinare, definire, определение, definicija, definición, definition, açıklama, belirleme, belirtme, kesinleştirme, tanım, tarif, seçiklik, tanımlama, чіткість, тлумачення, виразність, визначення, дефініція, ясність, чітка чутність, sự định rõ, sự định nghĩa, lời định nghĩa sự định, diffiniad, darnodiad, for definition;
vertaling, transferim, transmetim, ‏ترجمة من لغة أجنبية للغة الأم, ‏ترجمة, ‏إفتتان, транслация, огъване, превод, предаване, поддаване, тълкуване, превеждане, 翻译, překlad, oversættelse, translatie, taajuusmuutos, translaatio, traduction, oersetting, Übersetzung, μετάφραση, תור'מ ות, תר'ום, "עתק", "עתק, fordítás, traduzione, 翻訳 , へい"ういどう, やくしょ, やくしゅつ, "うどく, ほ"やく, トランスレーション , やくじゅつ, ほ"やくしょ, 번역, tradukshon, tradução, translaţie, tãlmãcire, traducere, сдвиг, трансляция, перемещение, перевод, tumačenje, traducción, översättning, tercüme, процес перекладу, переклад, пояснення, переміщення, sự dịch, sự biến th nh sự giải thích, trosiad, for translation;