Andrew Frederick Gault facts for kids
Andrew Frederick Gault (born April 14, 1833 – died July 7, 1903) was a very successful Canadian businessman and generous helper of others. He was born in Ireland but became famous in Canada. People knew him as the "Cotton King of Canada" because he was so important in the cotton industry.
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Early Life and Moving to Canada
Andrew Gault was born in Strabane, Ireland. He was the youngest son of Leslie Gault, who was a merchant and ship owner. His father's business involved sending ships with people to Canada and the United States. These ships would then bring back wood and grain.
However, in 1841, his father lost three ships at sea. He also lost money because the prices for grain and wood dropped. So, in 1842, the family moved to Montreal, Canada, to start fresh. Montreal was a big trading city back then. Sadly, Andrew's father died just nine months later from a sickness called cholera.
Andrew's older brother, Mathew Hamilton Gault, took over the family business. Andrew himself went to the new High School of Montreal.
Building a Business Empire
After finishing school, Andrew Gault started working for a company that sold dry goods (like fabrics and clothing). From 1853 to 1858, he had his own company called Gault, Stevenson and Co.
Later, he teamed up with his brother, Robert Leslie Gault, to form Gault Brothers and Company. Andrew was the main leader of this new company. By 1873, their sales reached about $2 million, which was a huge amount of money at the time! Their business grew with offices in places like Manchester, England, and Winnipeg and Victoria in Canada. In 1896, the company became Gault Brothers' Company Limited, with a value of $1 million.
The Cotton King
In the 1870s, Andrew Gault and his brother Matthew Hamilton Gault started investing in cotton factories. In 1872, Andrew spent over $100,000 to build a cotton mill in Cornwall, Ontario. This mill was called the Stormont Manufacturing Works.
Unfortunately, the mill was destroyed by a fire in 1874. The insurance only paid $38,000, but it cost $250,000 to rebuild it. It took until 1879 for a new mill, the Stormont Cotton Manufacturing Company Limited, to be built. Despite this setback, Gault's success in the cotton industry earned him the nickname "Cotton King."
Other Investments
Andrew Gault didn't just stick to cotton. He invested in many different types of businesses. These included companies that made silk and wool, and even ones that provided gas and electricity. He also invested in tramway (streetcar) companies in places like Havana, Cuba, and Trinidad. One of his notable investments was in the Shawinigan Water & Power Company.
Family Life and Giving Back
On July 12, 1864, Andrew Gault married Louisa Sarah Harman. They had a daughter named Lillian Mary Louisa, born in 1877, and a son named Andrew Hamilton, born in 1882.
Andrew Gault was also very generous and helped many people and causes. He promised Bishop William Bennett Bond that if he had a healthy son, he would donate a building to the Montreal Diocesan Theological College. He kept his promise and gave a building to the college.
He also supported other educational projects. He gave away more money during his lifetime than he left when he passed away. He also founded the Gault Institute in Salaberry-de-Valleyfield, which was another important gift to education.
Images for kids
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The building of the Montreal Diocesan Theological College, which Andrew Gault helped fund.
