Gustav Christian Schwabe
Encyclopedia
Gustav Christian Schwabe (10 May 1813 – 10 January 1897) was a German
-born merchant
and financier
who funded companies such as John Bibby & Sons
, Harland and Wolff
and the White Star Line
. Born in Hamburg
, Germany
, Schwabe moved to Liverpool
in 1838 and spent his working life there. Later, Schwabe would spend more time at his house in London
, and retired in 1893.
, Germany
, to Philipp Benjamin Schwabe, a Jewish merchant
, and his second wife, Rosalie Levi. Gustav had three brothers and a half-brother named Ludwig Philipp from his father's previous marriage. In June 1819, when Gustav was aged six, the family were forced to convert to Lutheranism
and Gustav was baptised
into the Church. On 1 January 1834, Schwabe became a partner at Boustead and Company; the firm was renamed Boustead, Schwabe and Company, and Schwabe remained involved at the company for 14 years. Schwabe moved to Liverpool
in 1838 and started a partnership with Edward Little in a company of commission agents; Little died the following year, apparently leaving Schwabe his house and assets.
. Her father was John Dugdale, a businessman in Liverpool
and Manchester
. Schwabe then entered a partnership with his father-in-law, Benjamin Rutter, and Adam Sykes, forming the merchant company Sykes, Schwabe & Co. On 31 December 1853, the partnership was dissolved. In the 1840s, Schwabe became a junior partner in John Bibby & Sons
, a shipping company based in Liverpool
. Around the same period, Schwabe met Edward Harland
during Harland's apprenticeship in Newcastle upon Tyne
at Robert Stephenson and Company
. Schwabe arranged for Harland to be employed at the marine engineers J. & G. Thomson, who were building ships for John Bibby & Sons
. Gustav Wilhelm Wolff
, Schwabe's nephew, who would later go into partnership with Harland, left Hamburg
in 1849 to live with Schwabe in Liverpool. In 1858, Schwabe financially assisted Edward Harland's purchase of Robert Hickson's shipyard at Queen's Island, Belfast
. Schwabe, with Thomas Henry Ismay
, purchased the bankrupt White Star Line
in 1867. In 1869, during a game of billiards, Gustav Schwabe made a deal with Thomas Henry Ismay
to finance the White Star Line, provided that the White Star Line would buy its ships from Harland and Wolff
. Schwabe also convinced Ismay to compete with Cunard
in North Atlantic passenger shipping. Schwabe also financially supported Albert Ballin
, the managing director of the Hamburg America Line
.
, an art museum in his native Hamburg
; afterwards he was created a freeman
of the city. Due to the Kunsthalle being too small to hold his paintings, Schwabe also donated 120,000 Marks to be used to extend the building. Two years later, the city of Hamburg unveiled a bust of Schwabe. In later life Schwabe began to spend less time with his business interests in textiles and shipping and stayed at his home in London more often; in 1893, Schwabe began his retirement.
Gustav Christian Schwabe died on 10 January 1897 at his home, 19 Kensington Palace Gardens, London
. Schwabe left no children, and his legacy was distributed among his nieces and nephews.
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
-born merchant
Merchant
A merchant is a businessperson who trades in commodities that were produced by others, in order to earn a profit.Merchants can be one of two types:# A wholesale merchant operates in the chain between producer and retail merchant...
and financier
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
who funded companies such as John Bibby & Sons
Bibby Line
The Bibby Line is a British company concerned with shipping and marine operations.Its parent company, Bibby Line Group Limited, can be traced back to the shipbroking partnership of Bibby & Hall, which was founded in 1801. It is and always has been based in Liverpool...
, Harland and Wolff
Harland and Wolff
Harland and Wolff Heavy Industries is a Northern Irish heavy industrial company, specialising in shipbuilding and offshore construction, located in Belfast, Northern Ireland....
and the White Star Line
White Star Line
The Oceanic Steam Navigation Company or White Star Line of Boston Packets, more commonly known as the White Star Line, was a prominent British shipping company, today most famous for its ill-fated vessel, the RMS Titanic, and the World War I loss of Titanics sister ship Britannic...
. Born in Hamburg
Hamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, Schwabe moved to Liverpool
Liverpool
Liverpool is a city and metropolitan borough of Merseyside, England, along the eastern side of the Mersey Estuary. It was founded as a borough in 1207 and was granted city status in 1880...
in 1838 and spent his working life there. Later, Schwabe would spend more time at his house in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, and retired in 1893.
Early life
Gustav Schwabe was born in HamburgHamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, to Philipp Benjamin Schwabe, a Jewish merchant
Merchant
A merchant is a businessperson who trades in commodities that were produced by others, in order to earn a profit.Merchants can be one of two types:# A wholesale merchant operates in the chain between producer and retail merchant...
, and his second wife, Rosalie Levi. Gustav had three brothers and a half-brother named Ludwig Philipp from his father's previous marriage. In June 1819, when Gustav was aged six, the family were forced to convert to Lutheranism
Lutheranism
Lutheranism is a major branch of Western Christianity that identifies with the theology of Martin Luther, a German reformer. Luther's efforts to reform the theology and practice of the church launched the Protestant Reformation...
and Gustav was baptised
Baptism
In Christianity, baptism is for the majority the rite of admission , almost invariably with the use of water, into the Christian Church generally and also membership of a particular church tradition...
into the Church. On 1 January 1834, Schwabe became a partner at Boustead and Company; the firm was renamed Boustead, Schwabe and Company, and Schwabe remained involved at the company for 14 years. Schwabe moved to Liverpool
Liverpool
Liverpool is a city and metropolitan borough of Merseyside, England, along the eastern side of the Mersey Estuary. It was founded as a borough in 1207 and was granted city status in 1880...
in 1838 and started a partnership with Edward Little in a company of commission agents; Little died the following year, apparently leaving Schwabe his house and assets.
Career
In May 1842, Schwabe married Helen Dugdale, who was from the WirralWirral Peninsula
Wirral or the Wirral is a peninsula in North West England. It is bounded by three bodies of water: to the west by the River Dee, forming a boundary with Wales, to the east by the River Mersey and to the north by the Irish Sea. Both terms "Wirral" and "the Wirral" are used locally , although the...
. Her father was John Dugdale, a businessman in Liverpool
Liverpool
Liverpool is a city and metropolitan borough of Merseyside, England, along the eastern side of the Mersey Estuary. It was founded as a borough in 1207 and was granted city status in 1880...
and Manchester
Manchester
Manchester is a city and metropolitan borough in Greater Manchester, England. According to the Office for National Statistics, the 2010 mid-year population estimate for Manchester was 498,800. Manchester lies within one of the UK's largest metropolitan areas, the metropolitan county of Greater...
. Schwabe then entered a partnership with his father-in-law, Benjamin Rutter, and Adam Sykes, forming the merchant company Sykes, Schwabe & Co. On 31 December 1853, the partnership was dissolved. In the 1840s, Schwabe became a junior partner in John Bibby & Sons
Bibby Line
The Bibby Line is a British company concerned with shipping and marine operations.Its parent company, Bibby Line Group Limited, can be traced back to the shipbroking partnership of Bibby & Hall, which was founded in 1801. It is and always has been based in Liverpool...
, a shipping company based in Liverpool
Liverpool
Liverpool is a city and metropolitan borough of Merseyside, England, along the eastern side of the Mersey Estuary. It was founded as a borough in 1207 and was granted city status in 1880...
. Around the same period, Schwabe met Edward Harland
Edward Harland
Sir Edward James Harland, 1st Baronet was a British shipbuilder and politician. Born in Scarborough, North Yorkshire, he was educated at Edinburgh Academy. In 1846, aged 15, he took an apprenticeship at the engineering works of Robert Stephenson and Company in Newcastle upon Tyne...
during Harland's apprenticeship in Newcastle upon Tyne
Newcastle upon Tyne
Newcastle upon Tyne is a city and metropolitan borough of Tyne and Wear, in North East England. Historically a part of Northumberland, it is situated on the north bank of the River Tyne...
at Robert Stephenson and Company
Robert Stephenson and Company
Robert Stephenson and Company was a locomotive manufacturing company founded in 1823. It was the first company set up specifically to build railway engines.- Foundation and early success :...
. Schwabe arranged for Harland to be employed at the marine engineers J. & G. Thomson, who were building ships for John Bibby & Sons
Bibby Line
The Bibby Line is a British company concerned with shipping and marine operations.Its parent company, Bibby Line Group Limited, can be traced back to the shipbroking partnership of Bibby & Hall, which was founded in 1801. It is and always has been based in Liverpool...
. Gustav Wilhelm Wolff
Gustav Wilhelm Wolff
Gustav Wilhelm Wolff was a British shipbuilder and politician. Born in Hamburg, he moved to Liverpool in 1849 to live with his uncle, Gustav Christian Schwabe...
, Schwabe's nephew, who would later go into partnership with Harland, left Hamburg
Hamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
in 1849 to live with Schwabe in Liverpool. In 1858, Schwabe financially assisted Edward Harland's purchase of Robert Hickson's shipyard at Queen's Island, Belfast
Belfast
Belfast is the capital of and largest city in Northern Ireland. By population, it is the 14th biggest city in the United Kingdom and second biggest on the island of Ireland . It is the seat of the devolved government and legislative Northern Ireland Assembly...
. Schwabe, with Thomas Henry Ismay
Thomas Henry Ismay
Thomas Henry Ismay was the founder of the Oceanic Steam Navigation Company, more commonly known as the White Star Line...
, purchased the bankrupt White Star Line
White Star Line
The Oceanic Steam Navigation Company or White Star Line of Boston Packets, more commonly known as the White Star Line, was a prominent British shipping company, today most famous for its ill-fated vessel, the RMS Titanic, and the World War I loss of Titanics sister ship Britannic...
in 1867. In 1869, during a game of billiards, Gustav Schwabe made a deal with Thomas Henry Ismay
Thomas Henry Ismay
Thomas Henry Ismay was the founder of the Oceanic Steam Navigation Company, more commonly known as the White Star Line...
to finance the White Star Line, provided that the White Star Line would buy its ships from Harland and Wolff
Harland and Wolff
Harland and Wolff Heavy Industries is a Northern Irish heavy industrial company, specialising in shipbuilding and offshore construction, located in Belfast, Northern Ireland....
. Schwabe also convinced Ismay to compete with Cunard
Cunard Line
Cunard Line is a British-American owned shipping company based at Carnival House in Southampton, England and operated by Carnival UK. It has been a leading operator of passenger ships on the North Atlantic for over a century...
in North Atlantic passenger shipping. Schwabe also financially supported Albert Ballin
Albert Ballin
Albert Ballin was a German businessman. He was born into a modest Jewish family of Hamburg with origins in Denmark.- Business :...
, the managing director of the Hamburg America Line
Hamburg America Line
The Hamburg Amerikanische Packetfahrt Actien Gesellschaft was a transatlantic shipping enterprise established in Hamburg, Germany during...
.
Later life
In October 1886, Schwabe donated 128 paintings to the Kunsthalle HamburgKunsthalle Hamburg
The Hamburger Kunsthalle is an art museum in Hamburg, Germany. The art museum focuses on painting in Hamburg in the 14th century, paintings by Dutch and Flemish artists of the 16th and 17th centuries, French and German paintings of the 19th century, modern, and contemporary art...
, an art museum in his native Hamburg
Hamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
; afterwards he was created a freeman
Freedom of the City
Freedom of the City is an honour bestowed by some municipalities in Australia, Canada, Ireland, France, Italy, New Zealand, South Africa, Spain, the United Kingdom, Gibraltar and Rhodesia to esteemed members of its community and to organisations to be honoured, often for service to the community;...
of the city. Due to the Kunsthalle being too small to hold his paintings, Schwabe also donated 120,000 Marks to be used to extend the building. Two years later, the city of Hamburg unveiled a bust of Schwabe. In later life Schwabe began to spend less time with his business interests in textiles and shipping and stayed at his home in London more often; in 1893, Schwabe began his retirement.
Gustav Christian Schwabe died on 10 January 1897 at his home, 19 Kensington Palace Gardens, London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
. Schwabe left no children, and his legacy was distributed among his nieces and nephews.