Business: Marriage of Convenience

Jay Cooke, who made his name and fortune financing the Union in the Civil War, went bankrupt during the Panic of 1873, and from the ashes of his Philadelphia banking house arose the firm of Chas. D.

Barney & Co. With the decline of Philadelphia as a financial capital the firm's centre of gravity shifted to Wall Street, and today it is primarily a brokerage house. For all its years Chas. D. Barney & Co. is rated as a progressive firm. It not only was one of the first Stock Exchange houses to start investment...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!