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August Belmont

Saratoga Race Course’s Grandstand: Some History

August 26, 2022 by Bill Orzell Leave a Comment

Warren-designed clubhouse with 2-story veranda and conical turrets in the foreground,The Saratoga Race Course is instantly recognizable by its iconic roofline and unique treatment. The Gilded Age survives to our time through the turret-spiked, finial capped, slate roof of the grandstand.

The very distinguishable noble crown of racing’s dowager queen places one instantly at the Spa in the foothills of the Adirondack Mountains, and announces “Saratoga Springs.” [Read more…] about Saratoga Race Course’s Grandstand: Some History

Filed Under: Capital-Saratoga, History Tagged With: Architecture, August Belmont, Gambling, Historic Racetracks Series, Horses, Saratoga County, Saratoga Race Track, Saratoga Springs

Wall St History: 19th Century Growth of Investment Banking

January 24, 2022 by James S. Kaplan 3 Comments

Wall Street in 1846 (NYPL)With the demise of the Philadelphia based Bank of the United States, the financial center of the country shifted to the privately owned state chartered financial firms on Wall Street.

As the nation recovered from the severe depression in the Panic of 1837, President James K. Polk’s policy of Manifest Destiny took root and significant westward settlement of Indigenous land expanded in the 1840s. Fortified by the Erie Canal and its Canal Fund, Wall Street financial institutions became strongly influenced by four factors: the invention of the telegraph; the development of railroads; the discovery of gold and other precious minerals in the West (particularly the California Gold Rush of 1849); and the arrival of significant numbers of Jewish and Irish immigrants in the city of New York. [Read more…] about Wall St History: 19th Century Growth of Investment Banking

Filed Under: History, New York City Tagged With: August Belmont, Civil War, Economic History, Financial History, Immigration, Jewish History, Manhattan, New York City, New York Stock Exchange, Pennsylvania, Philadelphia, Wall Street, Wall Street History Series

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