Polioforever's Blog

Jeremiah Milbank

 Jeremiah Milbank [Jr.]

Jeremiah Milbank(1887-1972)

Jeremiah Milbank was a personal friend of Herbert Hoover, famed for his multiple directorates, philanthropy for the disabled and the Boys and Girls’ Clubs. He organized an extensive international study on Infantile Paralysis in 1928, paid for in part by the Jeremiah Milbank Foundation which he created in 1924. Publications produced under his auspices (in 1932) led to a Trusteeship of the Georgia Warm Springs Foundation and an appointment from FDR to the Chair of the forerunner of the NFIP. Milbanks’s foundation co-founded the International Center for the Disabled with the Red Cross. He was the treasurer of the national Boys and Girls Clubs organization for 25 years and is noted for bankrolling the Cecil B. DeMille Hollywood blockbuster ‘King of Kings’ and membership in the  Bohemian Club. http://www.foundationcenter.org/grantmaker/jm/history_jm.html

Milbank’s son, Jerry Jr. (pictured above) carried on his father’s legacy (2007 obit) http://query.nytimes.com/gst/fullpage.html?res=9D00EED7133AF933A2575BC0A9619C8B63; married Mary Gillett (former wife of William Rockefeller)http://www.nytimes.com/1999/01/31/style/weddings-mary-rockefeller-jeremiah-milbank.html; “The great-grandson of a milk magnate who built the enterprise that would later become the Borden Company, Milbank grew up in Greenwich, Conn., where he lived most of his life…After [Harvard] business school, he joined Milbank & Co., the family’s private investment company in New York.” http://www.nysun.com/obituaries/jeremiah-milbank-jr-87-advocate-for-the-disabled/60249/

Milbank’s directorates:

Chase National Bank, “built on more than 1,000 ‘heritage’ institutions”  http://careers.jpmorganchase.com/cm/ContentServer?…   http://www.fundinguniverse.com/company-histories/JP-Morgan-Chase-amp;-Co-Company-History.html

Metropolitan Life Insurance http://www.answers.com/topic/metropolitan-life-insurance-company

Equitable Trust Co. -Rockefeller-owned (from 1911), acquired by JP Morgan in 1930;  headquartered at 120 Broadway; famous Wall St. office bldg that burned in 1911, destroying the records of the Union Pacific RR. Here’s a look at vintage Liberty Loan posters http://www.rainfall.com/posters/wwi/221.htm

Southern Railway Co., est. 1827 http://en.wikipedia.org/wiki/Southern_Railway_(US)

American Express, est. 1850 http://en.wikipedia.org/wiki/American_Express

Celanese Corporation, est 1918 NYC by Basel Switz.chemists Camille and Henri Dreyfus http://www.answers.com/topic/celanese-corporation-nyse-ce  for the intended purpose of producing cheap synthetic fabric for airplane manufacture.

Commercial Solvents Corporation, of Terre Haute Indiana, est. 1933 , cited here for ‘synthetic vitamins’ in a 1951 chick-feeding study http://jn.nutrition.org/cgi/content/abstract/46/3/411

Institute for the Crippled and Disabled, “400 First Avenue, New York City. Mr. Jeremiah Milbank, one of our Trustees, is a trustee of [this] organization.” http://www.disabilitymuseum.org/lib/docs/2253.htm


The Milbank Family Patriarch, also named Jeremiah Milbank, was known for financing Gail Borden who produced the first canned milk. http://en.wikipedia.org/wiki/Jeremiah_Milbank

Borden Dairy
“The [Borden milk] enterprise also struggled financially until Borden met Jeremiah Milbank, a wholesale grocer, banker, and railroad financier. With Milbank’s funding they formed a partnership in 1858 known as the New York Condensed Milk Company…In 1861 the U.S. government ordered 500 pounds of condensed milk for troops fighting in the Civil War. As the conflict grew, government orders increased, until Borden had to license other manufacturers to keep up with demand. After the war, the New York Condensed Milk Company had a ready-made customer base in both Union and Confederate veterans… In 1875 the company diversified by offering delivery of fluid milk in New York and New Jersey. Ten years later, it pioneered the use of glass bottles for milk distribution. In 1892 Borden’s fluid-milk business was expanded to Chicago and the company began to manufacture evaporated milk…  In 1899, as fresh and condensed milk sales generated profits of $2 million, the company was incorporated as the Borden Condensed Milk Company… William J. Rogers, the company’s first president from outside the Borden family, took over in 1902. He was succeeded in 1910 by S. Frederick Taylor.  …Toward the close of World War I, Borden strengthened its board of directors. Albert G. Milbank, a descendant of Jeremiah Milbank and a founding partner in the New York law firm of Milbank, Tweed, Hope & Webb, was named Borden’s first chairman of the board in 1917. The following year, directors from outside the dairy industry were appointed for the first time. These changes reflected Borden’s expanded business and helped to make possible its explosive growth in the next decade.”
   “The man responsible for the expansion of Borden’s chemical business was Augustine R. Marusi. Marusi, whose background was in chemical engineering, joined Borden in the early 1950s as a salesman. He was sent to Brazil to oversee the completion of the Curitiba facility, but brought back in 1954 to be made head of the chemical division. He quickly overcame the resistance of the dairymen on the board of directors and steered Borden into printing inks, fertilizers, and the burgeoning new field of polyvinyl chloride (PVC), which became a mainstay of the chemical division along with adhesives… In 1961 Borden and Uniroyal joined forces to build a huge petrochemical complex in Geismar, Louisiana, known as Monochem. Three-quarters of Monochem’s output went to other Borden operations; it supplied methanol for Borden’s formaldehyde production, vinyl-chloride monomer for its PVC production, and acetylene for its vinyl-acetate production. Over the years, as Borden enlarged Monochem’s capacities and added new processes, the company became one of the largest and most integrated chemical companies in the world.” http://www.fundinguniverse.com/company-histories/Borden-Inc-Company-History.html
Jeremiah Milbank’s daughter, Elizabeth Milbank Anderson, created the Milbank Memorial Fund
Albert G. Milbank –  founding law partner in Milbank, Tweed [ Hope, Webb, Hadley and McCloy (John J. McCloy, www.polioforever.wordpress.com/john-j-mccloy/ ); also noted as a founder of the Milbank Memorial Fund.
Errata, offered by a reader: “The photo above [top] is of Jeremiah MIlbank Jr. born in 1920.
The Borden Dairy monograph describes Albert Milbank as a descendant of Jeremiah Milbank. He was in truth the grandson of Samuel Milbank, an elder brother of the first Jeremiah Milbank.”
–appreciated. The image of  Jeremiah Milbank (1887-1972) whose business associations are listed above is given as a painted portrait in the first link. Accordingly, Albert G. Milbank, of Rockefellers’ law firm, and his peer Jeremiah (Sr., the second) were cousins if this tip is correct.
Law firm “Milbank’s roots are traced back to 1866, with the inception of the original firm, Anderson, Adams & Young set up in 1866 and then as Murray & Aldrich merged in April 1929, with Webb, Patterson & Hadley to become Murray, Aldrich & Webb. In 1931, the Firm merged with Masten & Nichols to become Milbank, Tweed, Hope & Webb. The Firm’s present name dates from 1962.For decades, the firm’s biggest clients were the Rockefeller family and the Chase Manhattan Bank. The firm also advised the Vanderbilt family, members of the Mellon and Johnson families, and Jacqueline Onassis… Albert G. Milbank had been a partner in the firm of Masten & Nichols [when that firm merged]… On March 16, 1933, at the annual dinner of the Milbank Memorial Fund at the New York Academy of Medicine, [Albert G.] Milbank urged state-wide compulsory health care insurance systems.. ” http://en.wikipedia.org/wiki/Milbank,_Tweed  John D. Rockefeller’s son-in-law, Ezra Parmalee Prentice (married to Alta) was a law partner in one of the pre-“Milbank” mergers, Murray, Prentice & Aldrich.
“At Milbank, McCloy [who joined in 1946] acted for the “Seven Sisters” (the leading multinational oil companies, including Exxon), in their initial confrontations with the nationalisation movement in Libya – as well as negotiations with Saudi Arabia and OPEC… McCloy..remained a general partner for 27 years, until he passed away in 1989.”

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