33 Facts About Oakleigh Thorne

Thorne, more generally known as Oakleigh Thorne, was an American businessperson, a publisher of tax guides, a banker, and a philanthropist.

That company became the Trust Company of America, of which Thorne was serving as president.

Oakleigh Thorne helped the company survive a bank run during the Panic of 1907, securing the backing of J Pierpont Morgan and European sources.

Oakleigh Thorne was inducted into the Angus Heritage Foundation Hall of Fame in 1934.

Oakleigh Thorne was born on July 31,1866, in New Hamburg, New York, the son of Edward Thomas Thorne and Charlotte Thorne.

In 1892, Oakleigh Thorne purchased a small printing company that under his management became Commerce Clearing House, a major publisher of tax guides for lawyers and accountants.

Oakleigh Thorne remained a director of Wells Fargo until the company ceased express service in 1918.

In September 1911, Oakleigh Thorne did not deny reports that he wanted to run for Congress in the 21st District as a Republican in the fall, possibly running against Hamilton Fish.

On November 5,1908, a court case commenced in which Thorne was sued by lawyer John W Herbert over $83,400, who alleged that Thorne had presented false and fraudulent information about stock value, leading to Herbert's investment in the International Fire Engine Company.

Oakleigh Thorne was 34 years old when he came to New York at vice president of the International Banking and Trust Company, in 1900.

When that company was merged with the North American Trust Company, Oakleigh Thorne became the latter's vice president and later president.

Oakleigh Thorne was president of the North American Trust Company until it merged in 1904, becoming part of the Trust Company of America.

Oakleigh Thorne was serving as president of Trust Company of America when its main office on Wall Street was the target of a bank run starting on Wednesday, October 23,1907, during the Panic of 1907.

Oakleigh Thorne remained president until the Trust Company of America was absorbed by the Equitable Trust Company in the spring of 1912.

When he retired from the Trust Company of America, Oakleigh Thorne spent $500,000 purchasing the Corporation Trust Company of New Jersey.

Oakleigh Thorne explained he made the purchase to provide employment to the men who had stood by him during the 1907 run on the bank, as many of them lost their jobs when the Trust Company of America merged with the Equitable Trust.

The Times reported that both had been directors in Westchester with controlling interests, and that Oakleigh Thorne had possibly secured a directorship with the opposition with the goal of securing the merger.

On October 9,1918, it was announced that Oakleigh Thorne had purchased Briarcliff Farms at Pine Plains, New York At the time, the property had 4,200 acres and had a herd of around 1,000 cows.

That year Oakleigh Thorne changed careers to focus on developing Briarcliff, which was originally a dairy farm that used for beef cattle production.

Oakleigh Thorne then served as chairman of the Better Beef Association, leading efforts to establish grades on market beef in 1927.

Oakleigh Thorne became president of the American Angus Association, from 1929 to 1931.

Oakleigh Thorne started winning various divisional awards for his steer at the International Live Stock Exposition in 1924.

Oakleigh Thorne became the first to win the grand championship at the International Live Stock Exposition twice, in 1931 and 1933 in the Chicago stock yards.

Oakleigh Thorne's winning steer the first time was a black Aberdeen Angus steer named Briarcliff Thickset.

Oakleigh Thorne was inducted into the Angus Heritage Foundation Hall of Fame in 1934.

Oakleigh Thorne dedicated the garden and village green of Millbrook, landscaped by his wife, as a memorial to the men of Washington, New York, who died in the World Wars.

On May 16,1947, it became public that Oakleigh Thorne had contributed $50,000 to the St Francis Hospital building fund, of which he was general chairman.

Oakleigh Thorne had long been a contributor to the hospital, having contributed to the addition of the Oakleigh Thorne wing in 1919.

When Mrs Oakleigh Thorne received information that new fires were to be started, she hired a force of detectives to guard every building on the estate.

Oakleigh Thorne died on May 23,1948, in New York's Doctors Hospital at the age of 81.

Oakleigh Thorne's death was attributed to shock, after he broke his leg a week earlier at a fall at Thornedale.

Oakleigh Thorne was survived by his wife Helen and two daughters; Mrs Philip S Chancellor and Mrs Daryl Parshall.

Oakleigh Thorne designed outstanding gardens, both civic and private, for the communities where she lived in New York state and, later, in California.