Spencer Trask facts for kids
Quick facts for kids
Spencer Trask
|
|
|---|---|
 |
|
| Born | September 18, 1844 |
| Died | December 31, 1909 (aged 65) |
| Occupation | Financier, philanthropist |
| Spouse(s) | Katrina Trask |
| Signature | |
 |
|
Spencer Trask (born September 18, 1844 – died December 31, 1909) was an important American businessman. He was also a kind person who gave a lot of money to good causes. He was known as a "venture capitalist." This means he invested in new ideas and companies, helping them grow.
In the 1870s, Spencer Trask started supporting inventors and business owners. One famous person he helped was Thomas Edison. Trask invested in Edison's work on the electric light bulb. He also supported Edison's plans for an electricity network. Later, in 1896, Trask helped save The New York Times newspaper. He became its main owner and chairman.
Besides his business skills, Trask was very generous. He loved supporting the arts and education. He also helped people in need. He gave money to his old school, Princeton University. This started a special lecture series that still happens today. He also helped start Teachers College, Columbia University and Bard College.
Contents
Spencer Trask's Life Story
Spencer Trask was born in 1844 in Brooklyn, New York. His parents were Alanson and Sarah Trask. After studying at a school that is now part of New York University Tandon School of Engineering, he went to Princeton University. He graduated from Princeton in 1866.
After college, Spencer Trask joined his uncle to start an investment company. This company later became known as Spencer Trask & Company in 1881. In 1874, Trask married Katrina Nichols, who was an author.
Trask was very good at seeing the future of new inventions. He understood how technology, business, and money worked together. He believed in new ideas even when they were just starting. He saw the potential in things like the Marconi wireless telegraph (like an early radio). He also believed in the telephone, the phonograph (record player), the trolley car, and the automobile. He gave his time, money, and advice to help these inventions grow.
One of the most famous people Trask helped was Thomas Edison. Edison invented the light bulb. For over 14 years, Trask was the president of the New York Edison Company. This was the world's first electric power company. It later became known as Consolidated Edison. Trask also helped start the General Electric Company.
In 1896, Spencer Trask and his business partner, George Foster Peabody, bought The New York Times. The newspaper was having money problems. Trask helped save it from closing. He made Adolph S. Ochs the publisher and became the chairman himself. This helped The New York Times become successful again.
The Trasks did not have children who would inherit their large home. So, they thought about turning their 400-acre estate in Saratoga Springs, New York into a place for artists and writers. After Spencer's death, his wife Katrina married George Foster Peabody. She then started a special place called Yaddo. This community for artists has been open ever since. The name Yaddo came from the Trasks' young daughter, Christina. She used to mispronounce the word "shadows" as "yaddo."
Yaddo has become a very important place for the arts. Many famous artists have worked there. These artists have won many awards, including 61 Pulitzer Prizes and a Nobel Prize. Some well-known visitors to Yaddo include James Baldwin, Leonard Bernstein, Truman Capote, and Sylvia Plath.
Spencer Trask died in a train accident on New Year's Eve in 1909. To remember his life, a famous artist named Daniel Chester French created a statue for him. This beautiful statue, called The Spirit of Life, was shown at a memorial service in Congress Park.
Spencer Trask's Generosity
Spencer Trask believed in helping his community and giving back. He was very active in charity work, which is called philanthropy.
Supporting the Arts
Trask deeply cared about the arts. During his life, he was the president of the National Arts Club. He also supported the Municipal Art Society of New York and the Metropolitan Museum of Art. He gave so much money to good causes that his own wealth was much smaller by the time he died.
Helping Education
Spencer Trask was a founder and chairman of the board for Teachers College, Columbia University. This school helps train teachers. He also cared about early childhood education and supported the Kindergarten Association.
In 1891, Trask started a public lecture series at his old school, Princeton University. The goal was to bring important people to speak to the university. These speakers would talk about interesting topics. Over the years, famous people like Niels Bohr (a scientist) and T. S. Eliot (a writer) gave talks there.
Helping People in Armenia
In the 1890s, Trask led a big effort to help people in Armenia. There were terrible events happening there, and many people were suffering. This effort became known as the National Armenian Relief Committee. It was one of the first times Americans helped people in another country on such a large scale.
Many powerful people in the United States joined the committee. They even asked Clara Barton, who founded the American Red Cross, to send help to Armenia. This was the first time the Red Cross sent teams outside the country. Americans raised over $300,000 to help. People all over the country gave money to help Armenian families who had lost loved ones.
