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Lot 8
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John Jacob Astor, Fur Millionaire, Provides for Jewish Family
John Jacob Astor, Fur Millionaire, Provides for Jewish Family
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Description:

Astor John


Fur Millionaire John Jacob Astor Provides for Jewish Family

 

John Jacob Astor, manuscript document signed, October 30, 1818, Power of Attorney, to Catherine Judah. Also signed by William B. Astor as witness. 1 p., 8" x 12". Repaired loss on central fold affecting three-inch section of one line; seals intact; clear signature.

 

In this brief legal document transferring power of attorney, John Jacob Astor gives Catherine Judah the dividends on more than $1,800 in stock in the loan office of the state of New York for the benefit of her nine children, who at the time ranged in age from one month to twenty years. It is unclear what the relationship was between the Astor and Judah families.

 

Complete Transcript:

 

"Know all Men by these Presents that I, John Jacob Astor, Esq. of the City of New York, do make constitute, and appoint Catherine Judah of New Brunswick, New Jersey, my attorney for me and in my name to receive the Dividends due and to become due hereafter, on Eighteen Hundred and Twenty two 56/100 Dollars seven per cent Stock Standing on the Books of the Loan office, state New York in the Name of the said John Jacob Astor, in trust for the Children of the said Catherine, the Interest [? den] [?] arising to be paid to the said Catherine Judah, during her Life, with power to substitute one or more attornies under her. Hereby ratifying and confirming all that my said Attorney, shall do. In Witness whereof I have hereunto put my hand and seal, this thirtyeth day of October, in the year of our Lord, One thousand Eighteen Hundred and Eighteen.      

 

John Jacob Astor

Signed & Sealed in Presence of
Wm B Astor
Wm Van Hook

 

[Certification by William Van Hook on verso.]

 

John Jacob Astor (1763-1848) was born in Germany and immigrated to Great Britain as a teenager, where he worked as a musical instrument manufacturer. After the American Revolutionary War, he moved to the United States and entered the fur trade. In 1785, he married Sarah Cox Todd (1785-1842), with whom he had eight children. He built a monopoly in the fur trade, and his American Fur Company, founded in 1808, became a business empire that extended to the Great Lakes and into Canada, eventually expanding to the American West and Pacific coast. He abandoned the fur trade in 1830 and invested in New York City real estate, becoming the first multi-millionaire in the United States. After retiring, Astor was a patron of culture, and when he died, he was the wealthiest person in the United States.

 

William B. Astor (1792-1875) was the second son of John Jacob Astor and inherited most of his father’s fortune. Educated at the University of Gottingen and the University of Heidelberg in Germany between 1808 and 1815, he returned to the United States and entered into partnership with his father. In 1818, he married Margaret Armstrong (1800-1872), and together they had seven children. His wealth grew with his father’s company, but he also inherited $500,000, when his childless uncle died in 1833. When John Jacob Astor died in 1848, William B. Astor replaced his father as the richest person in America. Like his father, he invested in New York City real estate, which rapidly increased in value. During the American Civil War, he successfully challenged the federal income tax, which the courts ruled unconstitutional. He also followed his father’s example in philanthropy, adding to his father’s donations to the Astor Library, which became the New York Public Library.

 

Catherine Miriam Hart Judah (1776-1859) was born into a Jewish family in Three Rivers, Quebec that had immigrated from Great Britain. In 1797, she married Bernard Samuel Judah (1777-1831), an English-born druggist in New York City. They lived in New York City before moving to New Brunswick, New Jersey, around 1800. She had nine children between 1798 and 1818. By 1830, they had moved back to New York City, where she died three decades later. At her death, she was “the last of those elegant girls who, on the afternoon of the memorable day when Washington took leave of the army, received from that illustrious man a parting farewell.”

 

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

 

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Bid Increments
From: To: Increments:
$0 $99 $10
$100 $299 $20
$300 $499 $25
$500 $999 $50
$1,000 $1,999 $100
$2,000 $2,999 $200
$3,000 $4,999 $250
$5,000 $9,999 $500
$10,000 $19,999 $1,000
$20,000 $49,999 $2,500
$50,000 + $5,000