James A. Stillman Explained
James Alexander Stillman (August 18, 1873 – January 13, 1944) was a president of National City Bank.
Biography
James Alexander Stillman was born on August 18, 1873, in New York City to James Jewett Stillman (1850–1918) and Sarah Elizabeth Rumrill. His paternal grandfather was Charles Stillman (1810–1875), the founder of Brownsville, Texas. He graduated Harvard University in 1896.
Career
In 1918, his father who was chairman of National City Bank of New York died[1] and the younger Stillman engaged in a fight with Frank A. Vanderlip to control the company. Eventually in 1919, Vanderlip quit and Stillman became chairman.[2] His father's estate was estimated at $45,000,000. While he was chairman, he urged temperate speech and urged people not to do or say anything that causes excitement while discussing general conditions of the country.[3]
He served as chairman for three years until personal issues relating to a divorce with his wife caused him to resign. In 1921, Stillman sold 5,000 city lots in Brownsville, Texas that were part of his grandfather's estate, with estimates putting their value upwards of $1,500,000.[4]
Personal life
In 1901, he married Anne "Fifi" Urquhart Potter at Grace Church in Manhattan. She was the daughter of James Brown Potter. Together they had:
In 1921, he filed for divorce accusing his wife of infidelity and saying that her youngest child was the son of a half-blood Indian guide from Quebec, who was the superintendent of the Stillman's property in Grande-Anse.[5] His wife denied the charges and accused him of fathering a child with chorus girl Florence H. Leeds.[6] Stillman later acknowledged his son with Leeds in 1926 by agreeing to give $20,000 a year in trust to their son Jay Ward Leeds until he was 21. At that point, he was to receive $150,000.[7] [8] [9]
After five years, the court refused the divorce saying that he had misbehaved. His wife then filed for divorce but withdrew the contest after receiving a $500,000 necklace. They sailed to Europe to receive counseling from Carl Jung.[10] He eventually acknowledged he was the father of Guy[11] and the court case ended up costing him more than $1 million but they reconciled in 1926. Fifi eventually divorced Stillman in 1931 and married Fowler McCormick, a man twenty years younger than she and a friend of their son, Bud.
He died on January 13, 1944, a few days before he planned to visit his winter home in Havana, Cuba.[12] His estate was split between his four children with a bequest going to his friend, Bernard E. Smith, the executor of his estate.[13]
Notes and References
- News: STILLMAN ESTATE LEFT TO FAMILY; Will of Banker Disposes of Property Estimated at About$45,000,000.TRUST FUNDS FOR CHILDREN $3,500,000 Set Aside for EachDaughter and Sons May HaveUse of $7,500,000 Apiece.TAXES MAY BE $13,736,000Wife Was Provided For by Settlement In Excess of Her DowryRight Made a Year Ago. No Bequests to Charity. Sons Made Receive More. Provisions for Grandsons. Full Text of the Will. First. Second. Third. Fourth. Fifth. Sixth. Seventh. Eighth. Ninth. Tenth. STILLMAN ESTATE LEFT TO FAMILY Eleventh. Twelfth. Thirteenth. Fourteenth. Fifteenth. Sixteenth. Seventeenth. Eighteenth. Nineteenth. Twentieth. Appraisal Not Yet Begun.. November 30, 2016. The New York Times. March 24, 1918.
- News: VANDERLIP QUITS AS CITY BANK HEAD; Will Devote His Energies to Financial and Industrial Problems. HE WANTS A LONG REST Denies Friction with Stillman, Who Succeeds Him as President. LONG SOUGHT TO RETIRE Became Interested in Large Land Projects in California and May Make His Home There. First Wants a Good Rest. Retirement Long Contemplated.. November 30, 2016. The New York Times. June 4, 1919.
- News: SEES PROFIT AHEAD FOR WAGE EARNERS; James A. Stillman Declares Earnings Will Remain High After Costs Recede. URGES CALM JUDGMENTS Believes Conditions will Quickly Return to Normal Wants Just Treatment for Railroads. The Railroad Problem. Seeks Just Investments.. November 30, 2016. The New York Times. August 14, 1919.
- News: Times. Special To The New York. STILLMAN FAMILY'S TEXAS LAND TO BE SOLD; Holdings Acquired by James A.'s Grandfather Exceed $1,500,000 Value.. November 30, 2016. The New York Times. June 18, 1921.
- News: WIFE AND BABY GUY TO FACE STILLMAN; Bud and Possibly Fred Beauvais Also to Be in Court Under Present Plans. SON TO IGNORE FATHER Beauty Specialist Tells of Trouble Mrs. Leeds Had Over Her Hair Curls.. November 30, 2016. The New York Times. June 23, 1921.
- News: BARE NEW CHAPTERS IN STILLMAN CASE; How Wife First Learned of Affairs With Other Women and Was Barred From His Homes.AN APPEAL BY HER FATHER James Brown Potter, in Letter From Paris. Asks Banker as a Gentleman to Drop Suit. Wife Then Employs Detectives. Text of Mr. Potter's Letter. Peggy Hopkins Joyco Mentioned.. November 30, 2016. The New York Times. June 25, 1921.
- News: Stillman Settles With Son by Florence Leeds; $20,000 a Year Till He Is 21, Then $150,000. November 30, 2016. The New York Times. February 23, 1926.
- News: STILLMAN GIVES FLO LEEDS' SON HANDSOME SUM "OTHER WOMAN" IN SOCIAL SCANDAL FINALLY DISPOSED OF. November 30, 2016. The Healdsburg Tribune. 20. February 23, 1926.
- Book: Stasz. Clarice. The Rockefeller Women: Dynasty of Piety, Privacy, and Service. June 19, 2000. New England Publishing Associates Inc.. toExcel. 978-1-4697-4038-6. November 30, 2016.
- News: James A. Stillman Asks Divorce. Wife Files Counter Suit. Referee Appointed and Hearings Begun at Poughkeepsie. $10,000 A Month Alimony. Mrs. Stillman, Who Is Daughter of Mrs. James Brown Potter, Asks $25,000 Counsel Fees. Guardian Named For Child. Counsel for Banker Says Net IncomeLast Year Was $220,000. Canadian Witnesses Called . subscription . The New York Times . March 11, 1921 . September 16, 2012 .
- News: BABY GUY HELD SON OF BANKER Stillman Loses Suit for Divorce; Fifi's Child to Get Fortune. FINANCIER IS SCORED Husband Found Guilty of Parentage of Illegitimate Child.. November 30, 2016. The Sacramento Union. 26129. September 30, 1922.
- News: James A. Stillman, A Banker 45 Years. Former Head of National City Dies. Figure in Sensational Divorce Case of 1920's . The New York Times . January 14, 1944 . September 16, 2012 . subscription .
- News: FOUR CHILDREN SHARE J.A. STILLMAN ESTATE; $300,000 Is Left to a Friend, Bernard E. Smith. November 30, 2016. The New York Times. February 12, 1944.
