David Hoadley (businessman)
| David Hoadley | |
|---|---|
David Hoadley
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| Born |
13 February 1806 Waterbury, Connecticut, Connecticut, US |
| Died | 20 August 1873 (aged 67) Englewood, New Jersey, US |
| Occupation | Businessperson |
| Spouse(s) | Mary Hotchkiss (d. June 9, 1837) Elizabeth Tappen |
| Children | First marriage: Mary, Sarah, Russell Second marriage: Alice, Tappen, Elizabeth, Olivia, Adelaide |
| Parent(s) | David Hoadley and Rachel Hull Hoadley |
David Hoadley (February 13, 1806 – August 20, 1873) was an American businessman, and an executive in the banking and railroad industries. He is best known for taking over the Panama Railway in November 1851 as the company faced bankruptcy while attempting to build a railroad across the Isthmus of Panama. Hoadley was able to stabilize the company as well as complete the railroad a year ahead of schedule.
Hoadley was born in Waterbury, Connecticut, in 1806. He was a direct descendent of William Hoadley, who had settled Branford, Connecticut, in 1666. He was the eldest son of David and Rachel (Beecher) Hoadley. His father was a carpenter and architect who built several well-known Congregational churches and many fine homes (including the Samuel Wadsworth Russell House) in the area.
Hoadley worked in his future father-in-law's pharmacy in New Haven, Connecticut. In April 1827, he founded his own wholesale drug business in New York City, an enterprise which proved extremely profitable. He married Mary Hotchkiss, daughter of his old employer, on December 23, 1829. The couple had three children: Mary (born November 17, 1830), Sarah (born August 16, 1832), and Russell (born August 19, 1834). On April 5, 1854, Sarah married the wealthy mine owner William E. Dodge, Jr. of Phelps Dodge fame. Mary Hotchkiss Hoadley died June 9, 1837, at the age of 26.
David Hoadley then married Elizabeth Crannel Tappen, daughter of a Danbury, Connecticut, doctor, on June 12, 1838. The couple had three more children: Alice (born July 4, 1839), Tappen (born February 11, 1841), Elizabeth (born June 1, 1844), Olivia (born November 17, 1848), and Adelaide (born February 4, 1855).
Illness forced Hoadley to retired from the wholesale pharmaceutical supply business in 1848. But his health improved the following year, and he was named vice president of the American Exchange Bank (now part of the Bank of New York Mellon Corporation.He proved extremely adept at finance, and his leadership of the bank gained him widespread fame.
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