William Libbey (1820-1895)
of "Libbey Castle" Washington Heights, N.Y.; General Manager of A.T. Stewart & Co.
He was born in Newburgh, Orange Co., New York. He entered Union College but his father was unable to pay the fees and he came to New York City aged fifteen in 1835 and got a job in a dry goods business. By 1849, he had become a partner in Hastings, Libbey & Forby before going into business with Arnold Graef with outlets in New York and Philadelphia as well as Dresden and Aix-La Chapelle in Germany. The firm was successful until the crash of 1857 but his abilities and character had been noticed by the "Merchant Prince of America," A.T. Stewart, who in 1859 took him into partnership and made him General Manager of A.T. Stewart & Co. Under Libbey's careful eye, the firm's transactions increased from roughly $15-million per annum prior to 1860, to about $110-million. After Stewart died in 1876, Libbey briefly continued A.T. Stewart & Co. in partnership with Judge Henry Hilton before retiring in 1883 when they liquidated the firm.
He was a director of the National Bank of Commerce; the New York, Lake Erie & Western Railroad; and, the American Pig Iron Storage Warrant Co. He was a trustee of the United States Trust Co., the Sun Life Insurance Company of London, the College of New Jersey (Princeton) and the Princeton Theological Seminary. It was estimated that he gave over a million dollars to Princeton during his lifetime. He was President of what became the Young Men's Christian Associations in both the States and Europe, and a member of the New York Chamber of Commerce, and a life member of the New England Society, the New-York Historical Society, and the American Geographical Society. In 1850, he married Elizabeth Conklin Marsh of Louisiana, daughter of Jonas and Elizabeth (Morse) Marsh, and they had three sons. In 1876, he bought "Woodcliff" (see images) overlooking the Hudson River on Washington Heights from his late partner's widow, Mrs Stewart, which he extended and renamed "Libbey Castle," living there year-round until his death.
He was a director of the National Bank of Commerce; the New York, Lake Erie & Western Railroad; and, the American Pig Iron Storage Warrant Co. He was a trustee of the United States Trust Co., the Sun Life Insurance Company of London, the College of New Jersey (Princeton) and the Princeton Theological Seminary. It was estimated that he gave over a million dollars to Princeton during his lifetime. He was President of what became the Young Men's Christian Associations in both the States and Europe, and a member of the New York Chamber of Commerce, and a life member of the New England Society, the New-York Historical Society, and the American Geographical Society. In 1850, he married Elizabeth Conklin Marsh of Louisiana, daughter of Jonas and Elizabeth (Morse) Marsh, and they had three sons. In 1876, he bought "Woodcliff" (see images) overlooking the Hudson River on Washington Heights from his late partner's widow, Mrs Stewart, which he extended and renamed "Libbey Castle," living there year-round until his death.
