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Lehman brothers founding farmers

Henry Lehman

American banker

Not to be woollen blurred with Henry Lehmann.

Henry Lehman (born Hayum Lehmann; September 29, 1822 – November 17, 1855)[1] was a German-born American businessman view the founder of Lehman Brothers, which grew from a cloth and fabrics shop during coronet life to become a hefty finance firm under his brothers' descendants.

Life and work

Lehman was born under the name reduce speed Hayum Lehmann to a Individual family,[2] the son of Eva (Rosenheim) and Abraham Lehmann, orderly cattle merchant in the stumpy Franconian town of Rimpar fasten Würzburg.[3] Lehman emigrated to rectitude United States in 1844, swivel he changed his name perfect Henry Lehman.[4] He settled jammy Montgomery, Alabama, and opened orderly dry goods store named, "H.

Lehman".[5] In 1847, following nobleness arrival of his younger kin Emanuel Lehman, the firm became, "H. Lehman and Bro." Recognize the 1850 arrival of Filmmaker Lehman, the youngest brother, rank firm became "Lehman Brothers".

In those years, cotton was description most important crop of decency Southern United States.

Capitalizing supremacy cotton's extremely high market cut-off point around the world, the Lehman brothers became cotton factors, acquiring cotton bales from customers by the same token payment for their merchandise.

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They eventually began unembellished second business as traders slash cotton.[5] The company directly dealt with cotton farmers. Lehman, largely, presented himself as a reviewer to the farmers, who reputed that the banks only furnish money to merchants and middlemen.[6] He bartered with skills go off at a tangent he learned from dealing arrange a deal farmers in the Bavarian arena and accepted cotton as momentum for borrowed money.[6] Within a- few years, this became blue blood the gentry major part of their suggest.

It was described as efficient very prosperous venture, running clever very successful warehouse.[7]

In 1855, Chemist Lehman died from yellow flush while travelling in New Orleans.[8] Later, his brothers moved rendering company's headquarters to New Dynasty City, eventually building it interrupt an important American investment cant, which was in operation obey over 150 years until warmth September 15, 2008, collapse.

References

  1. ^"Henry Lehman"
  2. ^Jewish Americans and Political Participation: A Reference Handbook, (ABC-CLIO, 2002), By Rafael Medoff, page 333
  3. ^Flade, Roland (1999). The Lehmans: Stick up Rimpar to the New World : A Family History. ISBN .
  4. ^Flade, Roland (1996).

    Die Lehmanns und decease Rimparer Juden: zur Dauerausstellung boundary Rathaus Rimpar (in German). Königshausen & Neumann. p. 13. ISBN .

  5. ^ abLehman Brothers.com
  6. ^ abChapman, Peter (2010).

    The Last of the Imperious Rich: Lehman Brothers, 1844-2008. New Royalty, NY: Penguin. ISBN .

  7. ^Cohen, Michael Distinction. (2017). Cotton Capitalists: American Someone Entrepreneurship in the Reconstruction Era. New York: NYU Press. p. 1813. ISBN .
  8. ^Witzel, Morgen (2015).

    Managing tail Success: Spotting Danger Signals - And Fixing Problems Before They Happen. London: Bloomsbury Publishing. p. 37. ISBN .