Henry Lehman
Encyclopedia
Henry Lehman was a German-American
businessman and the founder of Lehman Brothers
financial services, which declared bankruptcy in 2008.
Hayum Lehmann was born to a Jewish family, the son of a cattle merchant Abraham Löw Lehmann in the small Franconia
n town of Rimpar
near Würzburg
, Lehman emigrated to the United States
in 1844. He settled in Montgomery, Alabama
, and opened a dry goods store named, "H. Lehman". In 1847, following the arrival of his younger brother Emanuel Lehman, the firm became, "H. Lehman and Bro." With the 1850 arrival of Mayer Lehman, the youngest brother, the firm became "Lehman Brothers
".
In those years, cotton
was the most important crop of the Southern United States
. Capitalizing on cotton's extremely high market value around the world, the Lehman brothers became cotton factor
s, accepting cotton bales from customers as payment for their merchandise. They eventually began a second business as traders in cotton. Within a few years, this became the major part of their firm.
In 1855, Henry Lehman died from yellow fever
while travelling in New Orleans. Later, his brothers moved the company's headquarters to New York City
, eventually building it into an important American investment bank, which was in operation for over 150 years until its September 15, 2008 collapse.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
businessman and the founder of Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
financial services, which declared bankruptcy in 2008.
Hayum Lehmann was born to a Jewish family, the son of a cattle merchant Abraham Löw Lehmann in the small Franconia
Franconia
Franconia is a region of Germany comprising the northern parts of the modern state of Bavaria, a small part of southern Thuringia, and a region in northeastern Baden-Württemberg called Tauberfranken...
n town of Rimpar
Rimpar
Rimpar is a market town in the district of Würzburg in the German state of Bavaria. It is located about 10 km north of the City of Würzburg. The municipality includes the villages of Gramschatz and Maidbronn, incorporated in 1978....
near Würzburg
Würzburg
Würzburg is a city in the region of Franconia which lies in the northern tip of Bavaria, Germany. Located at the Main River, it is the capital of the Regierungsbezirk Lower Franconia. The regional dialect is Franconian....
, Lehman emigrated to the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
in 1844. He settled in Montgomery, Alabama
Montgomery, Alabama
Montgomery is the capital of the U.S. state of Alabama, and is the county seat of Montgomery County. It is located on the Alabama River southeast of the center of the state, in the Gulf Coastal Plain. As of the 2010 census, Montgomery had a population of 205,764 making it the second-largest city...
, and opened a dry goods store named, "H. Lehman". In 1847, following the arrival of his younger brother Emanuel Lehman, the firm became, "H. Lehman and Bro." With the 1850 arrival of Mayer Lehman, the youngest brother, the firm became "Lehman Brothers
Lehman Brothers
Lehman Brothers Holdings Inc. was a global financial services firm. Before declaring bankruptcy in 2008, Lehman was the fourth largest investment bank in the USA , doing business in investment banking, equity and fixed-income sales and trading Lehman Brothers Holdings Inc. (former NYSE ticker...
".
In those years, cotton
Cotton
Cotton is a soft, fluffy staple fiber that grows in a boll, or protective capsule, around the seeds of cotton plants of the genus Gossypium. The fiber is almost pure cellulose. The botanical purpose of cotton fiber is to aid in seed dispersal....
was the most important crop of the Southern United States
Southern United States
The Southern United States—commonly referred to as the American South, Dixie, or simply the South—constitutes a large distinctive area in the southeastern and south-central United States...
. Capitalizing on cotton's extremely high market value around the world, the Lehman brothers became cotton factor
Cotton factor
In the antebellum South, most cotton planters relied on cotton factors to sell their crops for them....
s, accepting cotton bales from customers as payment for their merchandise. They eventually began a second business as traders in cotton. Within a few years, this became the major part of their firm.
In 1855, Henry Lehman died from yellow fever
Yellow fever
Yellow fever is an acute viral hemorrhagic disease. The virus is a 40 to 50 nm enveloped RNA virus with positive sense of the Flaviviridae family....
while travelling in New Orleans. Later, his brothers moved the company's headquarters to New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
, eventually building it into an important American investment bank, which was in operation for over 150 years until its September 15, 2008 collapse.