28:
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375:
called W. R. Grace & Company. The consolidation involved W. R. Grace & Co. of New York, Grace
Brothers & Co. of Lima, Peru, Grace & Co. of Valparaíso, Chile, William R. Grace & Co. of London, and J. W. Grace & Co of San Francisco. The officers of the new company were:
371:, when William developed health problems in the early 1890s it made it necessary for John to come to New York to help oversee operations. As part of estate and successor planning, in 1895 the three brothers consolidated most of their holdings into a new private company incorporated in
617:
410:
William Grace died in March 1904 in New York and brother John in
September of that same year in London, England. Michael Grace then assumed control of all their companies. Because he had four daughters but no sons, Michael took William's most capable son,
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in its June 22, 1885 edition as "probably the richest and most extensive in the world." In conjunction with the Cerro de Pasco mines, the Grace's acquired a ninety-nine year lease, the first seven of which were free, on the financially troubled
200:. William Grace would emigrate to the United States in 1865 where he established W. R. Grace & Co. of New York, while Michael Grace remained in Peru developing government contacts for the business that became Grace Brothers & Co.
223:
between 1877 and 1884. When the war ended, Michael Grace traveled to
England and in 1887 put together a consortium of lenders to provide the funding necessary to stabilize the cash-strapped government of Peru.
322:
The shipping company was incorporated and headquartered in London, England, with
Michael Grace as chairman of the board. He began spending a part of each year in England where between 1894 and 1915 he leased
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While on an annual business trip to London, England in the late summer of 1920, the then seventy-eight-year-old
Michael Grace died. He, and his wife Margarita, are buried in the churchyard in Battle Abbey.
303:. To support the vast Grace South American operations with lower costs and in-house control, in 1892 the Grace brothers established The New-York and Pacific Steamship Company, Limited, progenitor of their
275:
27,600,900—86 miles of railroad already equipped and in operation, 50 miles of the most expensive tunneling and grading in the world—for nothing provided he will complete the line."
399:
J. Louis
Schaefer, who joined the company as a boy, would play a key role in not only W. R. Grace & Company in which he became a vice-president, but also as president of
307:. The operation began with a fleet of six newly built steam-powered freighters that shipped products manufactured in the United States from the port at New York City around
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Michael Grace expanded the business into new fields including a near monopoly in the business of supplying the construction contractors building Peru's railway system with
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233:
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Michael Grace too emigrated to the United States where he would become an
American citizen. The Grace brothers, along with Michael Grace's English son-in-law,
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plus foodstuffs and other provisions. The Grace brothers' influence with the
Peruvian government saw them obtain the most of the contracts to provide
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599:
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Michael and
William Grace had a third brother, John W. Grace. For years he remained mostly out of the limelight running a business in
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as a residence for his family. He spent the other part of the year in the United States, where he maintained a home at
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Michael Grace married
Margarita Mason (1848-1930) The couple had four daughters: Elisa, Elena, Margarita, and Gladys.
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403:. Schaefer would be a co-executor of the Estate of Michael Grace with William's son and corporate successor,
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153:(1842 – September 20, 1920) was an Irish-American businessman who was a shareholder and chairman of the
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Tragedy struck the family on August 10, 1917 when daughter Elisa drowned while swimming in a lake in
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415:, under his wing and would eventually transfer his interest in the Grace businesses to him.
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299:. Their business in Chile was such that they eventually established Grace & Co. in
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Biographical information on the Grace brothers from www.irishmidlandsancestry.com
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article on the estate of William Grace and company shares left for Michael Grace
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181:
450:
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Information on Michael P. Grace at Columbia University Archival Collections
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343:. In 1916, Michael Grace oversaw Grace Steamship Company's addition of a
244:, vast tracts of land containing both oil and mineral deposits including
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where his father had business interests and where he joined his brother
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287:, the Grace brothers set up representative offices throughout most of
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service between New York and its regular South American ports.
319:, primarily from the Grace brothers South American businesses.
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and through their Compania Salitrera obtained control over all
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but not fully completed. In that same June 22, 1885 story,
236:, widened their business in Peru to include control of the
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The Oroya Railroad and the richest silver mine in the world
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who had formed a partnership with John Bryce to operate as
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His niece Olive Grace Kerr married British aristocrat
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concluded that "Mr. Grace gets a property which cost
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originally built in early 1870s by American promoter
367:for half the year plus his extensive travelling to
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188:. to a wealthy family, as a young man he went to
462:Richard Hely-Hutchinson, 6th Earl of Donoughmore
234:Richard Hely-Hutchinson, 6th Earl of Donoughmore
8:
279:The New-York and Pacific Steamship Company
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15:
449:. She was working as a volunteer for the
445:Elisa and Hubert Beaumont had one child,
335:near daughter Margarita and her husband,
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467:Margarita married American businessman
637:: CS1 maint: archived copy as title (
630:
389:Secretary & Director – Edward Eyre
311:to various ports on the west coast of
392:Director – Lillius Grace (Mrs. W. R.)
383:1st Vice-President – Michael P. Grace
7:
691:Irish emigrants to the United States
476:Charles Greville, 3rd Baron Greville
315:. The ships returned with cargos of
492:The "Grace Family at Battle Abbey"
407:. J. Louis Schaefer died in 1927.
386:2nd Vice-President – John W. Grace
14:
359:. However, with Michael based in
436:Member of the British Parliament
696:Businesspeople from County Cork
295:exported by the government of
1:
519:obituary for Michael P. Grace
395:Treasurer – J. Louis Schaefer
167:Grace Brothers & Co. Ltd.
380:President – William R. Grace
124:Elisa Mercedes, Elena Maria,
717:
457:at the time of her death.
86:Founding co-benefactor of
357:San Francisco, California
351:Consolidation of holdings
25:
686:American Roman Catholics
102:Grace Brothers & Co.
701:Peruvian businesspeople
681:American businesspeople
305:Grace Steamship Company
159:W. R. Grace and Company
98:W. R. Grace and Company
69:Battle Abbey Churchyard
42:Queenstown, County Cork
252:that were reported by
219:during the Peru-Chile
194:William Russell Grace
432:Hon. Hubert Beaumont
430:. Elisa married the
207:iron and timber for
161:shipping company of
94:Board member of
515:September 21, 1920
469:John Shaffer Phipps
401:Grace National Bank
339:, of the prominent
337:John Shaffer Phipps
240:deposits along the
106:Grace National Bank
653:The New York Times
601:The New York Times
588:The New York Times
564:The New York Times
551:The New York Times
538:The New York Times
269:The New York Times
255:The New York Times
221:War of the Pacific
155:board of directors
151:Michael Paul Grace
53:September 20, 1920
20:Michael Paul Grace
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143:Morgan Stanislaus
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616:. Archived from
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447:Michael Beaumont
141:, John William,
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614:"Archived copy"
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405:Joseph P. Grace
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283:From a base in
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139:William Russell
127:Margarita Celia
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88:Grace Institute
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517:New York Times
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460:Elena married
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261:Oroya Railroad
250:Cerro de Pasco
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198:ship chandlers
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115:Margaret Mason
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83:Known for
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620:on 2012-10-23
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373:West Virginia
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369:South America
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345:mail delivery
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341:Phipps family
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317:raw materials
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313:South America
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289:South America
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163:New York City
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65:Resting place
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622:. Retrieved
618:the original
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576:Battle Abbey
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329:Old Westbury
325:Battle Abbey
321:
282:
268:
265:Henry Meiggs
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246:silver mines
231:
217:battle ships
202:
175:
150:
149:
676:1920 deaths
671:1842 births
455:World War I
434:, a former
333:Long Island
182:County Cork
173:, England.
129:, Gladys S.
78:Businessman
665:Categories
624:2017-07-07
486:References
440:Eastbourne
301:Valparaíso
205:rail track
178:Queenstown
137:Siblings:
75:Occupation
478:in 1909.
471:in 1903.
464:in 1901.
451:Red Cross
309:Cape Horn
213:munitions
209:rail ties
134:Relatives
59:, England
44:, Ireland
633:cite web
176:Born in
120:Children
453:during
365:England
293:nitrate
186:Ireland
165:and of
419:Family
413:Joseph
361:London
171:London
112:Spouse
57:London
525:Notes
428:Italy
297:Chile
238:guano
639:link
438:for
285:Lima
215:and
190:Peru
50:Died
38:1842
35:Born
331:on
248:at
169:of
157:of
667::
635:}}
631:{{
442:.
363:,
273:$
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104:,
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641:)
627:.
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
