Business Years
Hopkins' early experiences and successes in business came when he was put in charge of the store while his uncle was away during the War of 1812. After seven years with his uncle, Hopkins went into business together with Benjamin Moore, a fellow Quaker. The business partnership was later dissolved with Moore purporting Hopkins' penchant for capital accumulation as the cause for the divide.
After Moore's withdrawal, Hopkins partnered with three of his brothers and established Hopkins & Brothers. The company prospered by selling various wares in the Shenandoah Valley from Conestoga wagons, sometimes in exchange for corn whiskey, which was then sold in Baltimore as "Hopkins' Best". The bulk of Hopkins' fortune however was made by his judicious investments in a myriad of ventures, most notably the Baltimore and Ohio Railroad (B&O), of which he became a Director in 1847 and Chairman of the Finance Committee in 1855. He was also President of Merchants' Bank as well as director of a number of other organizations.
A charitable individual, Hopkins put up his own money more than once to not only aid Baltimore City during times of financial crises, but also to twice bail the railroad out of debt, in 1857 and 1873. In 1996, Johns Hopkins ranked 69th in "The Wealthy 100: From Benjamin Franklin to Bill Gates - A Ranking of the Richest Americans, Past and Present."
Read more about this topic: Johns Hopkins
Famous quotes containing the words business and/or years:
“My objection to Liberalism is this—that it is the introduction into the practical business of life of the highest kind—namely, politics—of philosophical ideas instead of political principles.”
—Benjamin Disraeli (1804–1881)
“On a late-winter evening in 1983, while driving through fog along the Maine coast, recollections of old campfires began to drift into the March mist, and I thought of the Abnaki Indians of the Algonquin tribe who dwelt near Bangor a thousand years ago.”
—Norman Mailer (b. 1923)