A Classification of American Wealth
History and genealogy of the wealthy families of America - Sponsors


 Part 1 : Colonial and Mercantile America  Part 2 : America in the Gilded Age
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   Part II-Chapter 11 :  The Trusts  > The Dukes of American Tobacco  :  Previous  1 - 2 - 3 - 4 - 5 - 6   Next  

James Buchanan Duke organizes American Tobacco Company

American Tobacco Company was capitalized at $ 25'000'000, split in 300'000 shares of $50 common stock and 100'000 shares of $100 preferred stock yielding 8%. The following five firms joined the trust and received the following stakes :
Washington Duke Sons & Co (Durham NC)
Allen & Ginter (Richmond Va)
Kinney Tobacco Co (New York and Richmond Va)
W.S.Kimball & Co (Rochester NY and Oxford NC)
Goodwin & Co (New York)

James Buchanan Duke became president of the American Tobacco Company; John Pope of Allen & Ginter and William S. Kimball became vice-presidents. The other two companies provided the

 

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