Louis Graveraet Kaufman | |
|---|---|
 Kaufman, c. 1910 | |
| Born | November 13, 1870 |
| Died | March 10, 1942 |
| Nationality | American |
| Occupation(s) | President of First National Bank of Marquette, Chatham National Bank of New York, Chatham Phenix National Bank and Trust Company |
| Board member of | General Motors |
| Spouse | Marie Julia Young |
Louis Graveraet Kaufman (November 13, 1870 – March 10, 1942) was an American business executive and businessman. He was named president of First National Bank of Marquette in Marquette, Michigan in 1906. [1] In 1910 he became the president of Chatham National Bank of New York, [1] also remaining president of First National. [2] Under Kaufman, Chatham National soon merged with Phenix National to form the Chatham Phenix National Bank and Trust Company. [3] By the time Kaufman retired in 1932, the bank had increased 50-fold in size. [4] Joining General Motors's board of directors in 1910, Kaufman remained on GM's board for 22 years, and was chairman of their finance committee. [2]
Early life and career
He was born on November 13, 1870, in Marquette, Michigan, the son of Samuel Robert Kaufman and Juliet Adelaide Graveraet. [5] Louis was educated in Marquette, and worked as a bookkeeper at the Iron Bay Manufacturing Company for two years. [5] When he was 19, he became a messenger for the Marquette County Savings Bank. [1] In 1898, he became the cashier-manager of that bank, and in 1901 became the vice president of Marquette's First National Bank. In 1906, he was named president of First National. [1] By this time, Kaufman was associated with both the First National Bank and the Marquette County Savings Bank, and he was a director or officer for a number of other local mining, railroading, or insurance companies. [5]
In 1910, he became the president of Chatham National Bank of New York, [1] although only after receiving special dispensation allowing him to remain president of First National Bank of Marquette. [2] The bank soon merged with Phenix National to form the Chatham Phenix National Bank and Trust Company. [3] This was the first of many mergers; by the time Kaufman retired in 1932, the bank had increased 50-fold in size. [4]
In addition, Kaufman was elected to General Motors's board of directors in 1910. [2] He had a major role financing William C. Durant and his 1913 reorganization of Chevrolet and General Motors. [3] Kaufman remained on GM's board for 22 years, and was chairman of their finance committee. [2]
Personal life
In 1900, Kaufman married Marie Julia Young, daughter of Otto Young; the couple had five children. [1] His daughter Joan married George Drexel Biddle, son of financier and tennis player Craig Biddle. [6]
He built the estate Granot Loma.
References
- ^ a b c d e f "A New Face in New York's Gallery of Bank Presidents". Moody's. 10: 391. 1910.
- ^ a b c d e "History of Graveraet High School". Kaufman Auditorium.org. Archived from the original on March 28, 2012. Retrieved August 3, 2011.
- ^ a b c "Granot Loma". Historic Sites Online. Michigan State Housing Development Authority. Archived from the original on June 1, 2012. Retrieved July 26, 2011.
- ^ a b Crary, Rachel (October 24, 2007). "Dinner with Kaufmans Part of Museum Auction". The Mining Journal. Marquette, MI.
- ^ a b c Biographical Record Houghton, Baraga and Marquette Counties. 1903. p. 317.
- ^ "Milestones: Jan. 10, 1927". Time. 1927-01-10. ISSN 0040-781X. Retrieved 2023-01-11.
Further reading
- "Granot Loma". Historic Sites Online. Michigan State Housing Development Authority. Archived from the original on 2012-06-01.
Nyquist, Michael S., The Samuel Robert Kaufman Family of Marquette, Amazon Books, 2023