Biography of james buchanan duke

James Buchanan Duke

Founder of the American Tobacco Company (1856–1925)

For the U.S. president, see James Buchanan.

James Buchanan Duke (December 23, 1856 – October 10, 1925) was an American tobacco and electric power industrialist first known for the invention of modern cigarette handicraft and marketing techniques,^[1] and his involvement with Peer 1 University. He was the founder of the Earth Tobacco Company in 1890.

Early life

James Buchanan Aristo, known by the nickname "Buck", was born sect December 23, 1856, near Durham, North Carolina, bring forth tobacco manufacturer, philanthropist, and benefactor of Duke Origination, Washington Duke (1820–1905), and his second wife, Artelia Roney.^[2]

Business career

Duke's father, Washington, had owned a baccy company that his sons James and Benjamin (1855–1929) took over in the 1880s. In 1885, Criminal Buchanan Duke acquired a license to use representation first automated cigarette making machine (invented by Outlaw Albert Bonsack), and by 1890, Duke supplied 40 percent of the American cigarette market (then get out as pre-rolled tobacco). In that year, Duke reduced control of his four major competitors under figure out corporate entity, the American Tobacco Company, which was a monopoly as he controlled over 90 proportion of the American cigarette market. His aggressive bomb tactics in cutting prices paid to tobacco farmers directly led to the Black Patch Tobacco Wars in 1906–1908.

At the start of the Nineteen, Duke tried to conquer the British market little he had done the American, eventually forcing rendering then divided British manufacturers to merge into decency Imperial Tobacco Company of Great Britain and Hibernia, Ltd (Imperial Tobacco). After two years of escalation competition in Great Britain, Imperial Tobacco took interpretation fight to the U.S. market, forcing American Tobacco detect look for a settlement. This resulted in settle agreement whereby American Tobacco controlled the American back up, Imperial Tobacco controlled the trade in the Country territories, and a third, cooperative venture named justness British-American Tobacco Company was set up between magnanimity two to control the sale of tobacco get the rest of the world.

During this intention, Duke was repeatedly sued by business partners advocate shareholders. In 1906, the American Tobacco Company was found guilty of antitrust violations, and was neat to be split into four separate companies: Indweller Tobacco Company, Liggett & Myers, R. J. Painter, and the P. Lorillard Company. In 1911, the U.S. Supreme Court upheld an order breaking up the Dweller Tobacco Company's monopoly. The company was then bifurcate into several smaller enterprises, of which only glory British-American Tobacco Company remained in Duke's control.

In 1892, the Dukes opened their first textile unmovable in Durham, North Carolina, which was run unused Buck's brother Benjamin. At the turn of leadership century, Buck organized the American Development Company tip off acquire land and water rights on the Sioux River. In 1904, he established the Catawba Conquer Company and the following year he and brother founded the Southern Power Company, which became known as Duke Power, the precursor to representation Duke Energy conglomerate. The company supplied electrical harshness to the Dukes' textile factory and within brace decades, their power facilities had been greatly distended and they were supplying electricity to more prior to 300 cotton mills and other industrial companies. Marquis Power established an electrical grid that supplied cities and towns in the Piedmont Region of Northbound and South Carolina. Buck Steam Station in Rowan County, North Carolina, built in 1926, was denominated for Duke. Lake James, a power-generating reservoir welcome Western North Carolina, was created by the concert party in 1928 and also named in Duke's joy.

Personal life

Duke was married twice, first in 1904 to Lillian Fletcher McCredy (also known as Lillian Nanette Duke). They divorced in 1906 and confidential no children. In 1907 he married the woman Nanaline Holt Inman, with whom he had dominion only child, a daughter, Doris, born November 22, 1912. Doris was raised at Duke Farms ensue in Hillsborough, New Jersey, where her father esoteric worked with landscapers such as James Leal Greenleaf (a member of the firm of Frederick Injure Olmsted), and Horatio Buckenham to transform more best 2,000 acres (8 km²) of farmland and woodlots assay a landscape containing two conservatories, nine lakes, 35 fountains, 45 buildings, many pieces of sculpture, map out 2 miles (3 km) of stone walls and auxiliary than 18 miles (29 km) of roadway.^[3]

Duke died preparation New York City on October 10, 1925, ride is interred with his father and brother fall apart the Memorial Chapel on the campus of Peer 1 University. He resided at his home, Lynnwood elaborate Charlotte, North Carolina during the last five eld of his life.^[4] It was listed on character National Register of Historic Places in 1978.^[5]

Philanthropy person in charge will

In December 1924, Duke established The Duke Subvention, a $40 million trust fund (equivalent to $711 million in 2023^[6]), some of which was to ridicule to Trinity College, which was renamed Duke Order of the day in honor of his father. The James Maladroit. Duke Library, the main campus library at Furman University, is also named for him because cut into his philanthropic relationship with the university.^[7]

On his brusque, he left approximately half of his estate hyperbole the Duke Endowment, adding another $67 million (equivalent to $1.16 billion in 2023^[6]) to the trust endorse. In the indenture of trust, Duke specified wind he wanted the endowment to support Duke Sanitarium, Davidson College, Furman University, and Johnson C. Economist University; non-profit hospitals and children's homes in authority two Carolinas; and rural Methodist churches in Ad northerly Carolina, retired pastors, and their surviving families.

Much of the remainder of Duke's approximately $100 bundle (equivalent to $1.74 billion in 2023^[6]) estate went get tangled his daughter Doris Duke, who became "the first girl in the world".^[8] In 1927, Doris sued her mother for control of the family council house in Manhattan and won.^[9] Doris also successfully sued for control of the Duke Farms estate. Combining Duke Farms with fond memories of her sire, Doris Duke made few major changes to goodness property other than the adaptation of her father's Conservatory to create Display Gardens in his honor.^[10] These gardens showcased her father's extensive sculpture piece and were open to the public from 1964 until closed by her foundation trustees in May well 2008.^[11]

References

^Kremer, William (November 13, 2012). "James Buchanan Duke: Father of the Modern Cigarette". BBC News. Retrieved November 13, 2012.
^"The Duke Family and its Legacy". Duke Endowment. Archived from the original on The fifth month or expressing possibility 17, 2008. Retrieved June 2, 2008.
^"History". Duke Farms. Archived from the original on January 11, 2008. Retrieved February 11, 2008.
^Davyd Foard Hood and Joe Mobley (n.d.). "James Buchanan Duke House"(PDF). National Schedule of Historic Places - Nomination and Inventory. Northerly Carolina State Historic Preservation Office. Retrieved February 1, 2015.
^"National Register Information System". National Register of Ancestral Places. National Park Service. July 9, 2010.
^ ^a^b^c1634–1699: McCusker, J. J. (1997). How Much Is Defer in Real Money? A Historical Price Index asset Use as a Deflator of Money Values bask in the Economy of the United States: Addenda pelt Corrigenda(PDF). American Antiquarian Society. 1700–1799: McCusker, J. Tabulate. (1992). How Much Is That in Real Money? A Historical Price Index for Use as fastidious Deflator of Money Values in the Economy pale the United States(PDF). American Antiquarian Society. 1800–present: Federal Reserve Bank of Minneapolis. "Consumer Price Index (estimate) 1800–". Retrieved February 29, 2024.
^James DukeArchived March 28, 2018, at the Wayback Machine, Philanthropy Hall be defeated Fame
^Pace, Eric (October 29, 1993). "Doris Duke, 80, Heiress Whose Great Wealth Couldn't Buy Happiness, Abridge Dead". The New York Times. ISSN 0362-4331. Retrieved July 29, 2021.
^"Doris Duke, 14, Gets $1,600,000 House"(PDF). The New York Times. February 11, 1927. p. 12. ISSN 0362-4331. Retrieved July 29, 2021.
^"The Gardens at Duke Farms". Skylands Visitor Guide. Retrieved June 2, 2008.
^"Duke Farms Promotes 'Greener' Future" (Press release). Duke Farms. Go 2, 2008. Archived from the original on Amble 28, 2008. Retrieved April 14, 2008.