Peter McCarthy (industrialist)
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Peter McCarthy (24 November 1845 – 29 May 1919) was an American manufacturer, businessman and philanthropist from
Troy, New York Troy is a city in and the county seat of Rensselaer County, New York, United States. It is located on the western edge of the county, on the eastern bank of the Hudson River just northeast of the capital city of Albany, New York, Albany. At the ...
.


Biography


Early life

Peter McCarthy was born in
Troy, New York Troy is a city in and the county seat of Rensselaer County, New York, United States. It is located on the western edge of the county, on the eastern bank of the Hudson River just northeast of the capital city of Albany, New York, Albany. At the ...
, on November 24, 1845, to
Catholic The Catholic Church (), also known as the Roman Catholic Church, is the List of Christian denominations by number of members, largest Christian church, with 1.27 to 1.41 billion baptized Catholics Catholic Church by country, worldwid ...
Irish immigrants Florence McCarthy and Mary Crowley. McCarthy grew up poor. He was educated in Troy's public school system. After graduating Troy High School in 1863, he worked in the sash and bind business in Troy. In 1864 McCarthy traveled west to
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, and lived there for two years. He then moved to
Durham, Pennsylvania Durham is an unincorporated community in Durham Township in Bucks County, Pennsylvania Bucks County is a County (United States), county in the Commonwealth (U.S. state), Commonwealth of Pennsylvania. As of the 2020 United States census, 2 ...
, and was employed by the safe manufacturer Lewis P. Lillie. When he returned to
Troy, New York Troy is a city in and the county seat of Rensselaer County, New York, United States. It is located on the western edge of the county, on the eastern bank of the Hudson River just northeast of the capital city of Albany, New York, Albany. At the ...
, Peter and his brother Charles McCarthy founded C. & P. McCarthy and began trading in waste, rags, wool and cotton. C. & P. McCarthy was located on Riverstreet.


Marriage and personal life

On April 22, 1879, McCarthy married Julia F. Haley of Troy. They had ten children. McCarthy was also a member of the Catholic Club of New York and gave to Catholic Charities.


Textile industry and Troy Waste Manufacturing

The Troy Waste Manufacturing Company developed out of C. & P. McCarthy. The company obtained scraps from the local mills and processed them into new materials It was incorporated in February 1883. He served as president of the Troy Waste Manufacturing Company and Faith Knitting Company. He was treasurer of the Hope Knitting Company of Cohoes, the Clover Knitting Company of
Waterford Waterford ( ) is a City status in Ireland, city in County Waterford in the South-East Region, Ireland, south-east of Ireland. It is located within the Provinces of Ireland, province of Munster. The city is situated at the head of Waterford H ...
, and the Wayside Knitting Company of
Troy Troy (/; ; ) or Ilion (; ) was an ancient city located in present-day Hisarlik, Turkey. It is best known as the setting for the Greek mythology, Greek myth of the Trojan War. The archaeological site is open to the public as a tourist destina ...
. He was treasurer of the Troy Knitting Company. In addition to dealing paper, wool, and cotton waste, Troy Waste Co. began manufacturing shoddies and cotton batting.


Railroads and other business ventures

After his success with the Troy Waste Manufacturing Company, he began to branch out into the Railroad industry. He served as director for the Hudson Valley Railroad, Troy and Cohoes Railroad Company,
Columbus, Marion and Bucyrus Railroad The Columbus, Delaware and Marion Electric Company (originally Columbus, Delaware and Marion Railway Company) or CD&M was an interurban electric railroad that operated passenger and freight service in northern Ohio from 1903 to 1933. Railroad a ...
Company, and the Lansingburgh and Cohoes Railroad. By 1900 he was director for the
Troy Gas Light Company The Troy Gas Light Company was a gas lighting company in Troy, New York, Troy, New York (state), New York, United States. The Troy Gasholder Building is one of only ten or so remaining examples of a type of building that was common in Northeaster ...
, National State Bank of Troy, International Pulp Company, Troy and West Troy Bridge Company, and Federal Signal Company. He was vice-president of the Troy Trust Company.


The McCarthy Building

In 1883 he built the McCarthy Building. It was destroyed by a fire in 1903, and he rebuilt the current McCarthy Building in the
Central Troy Historic District The Central Troy Historic District is an irregularly shaped, area of downtown Troy, New York, United States. It has been described as "one of the most perfectly preserved 19th-century downtowns in the ountry with nearly 700 properties in a v ...
in 1904.


Philanthropy and the McCarthy Charities Inc.

McCarthy was a philanthropist and contributor to many charities in
Troy Troy (/; ; ) or Ilion (; ) was an ancient city located in present-day Hisarlik, Turkey. It is best known as the setting for the Greek mythology, Greek myth of the Trojan War. The archaeological site is open to the public as a tourist destina ...
, particularly to organizations focused on orphans and the poor. He built the Seton Day Home run by the
Sisters of Charity Many religious communities have the term Sisters of Charity in their name. Some ''Sisters of Charity'' communities refer to the Vincentian tradition alone, or in America to the tradition of Saint Elizabeth Ann Seton (whose sisters are also of ...
and the McCarthy Memorial Chapel. He was a notable benefactor of Saint Peter's Parish of Troy. In 1917, two years before his death, he founded and endowed the McCarthy Charities, Incorporated to be a lasting fund.


Death

McCarthy died on May 28, 1919, in his home on 1827 Fifth Avenue
Troy Troy (/; ; ) or Ilion (; ) was an ancient city located in present-day Hisarlik, Turkey. It is best known as the setting for the Greek mythology, Greek myth of the Trojan War. The archaeological site is open to the public as a tourist destina ...
. at age 74; he is buried in St. Peter's Catholic Cemetery in Troy.


Politics

McCarthy was a republican and served in the
United States Electoral College In the United States, the Electoral College is the group of presidential electors that is formed every four years for the sole purpose of voting for the President of the United States, president and Vice President of the United States, vice p ...
. He was Presidential Elector for New York in the 29th
1900 United States presidential election United States presidential election, Presidential elections were held in the United States on November 6, 1900. Incumbent Republican Party (United States), Republican President of the United States, President William McKinley defeated his Democra ...
for
William McKinley William McKinley (January 29, 1843September 14, 1901) was the 25th president of the United States, serving from 1897 until Assassination of William McKinley, his assassination in 1901. A member of the Republican Party (United States), Repub ...
for President and for
Theodore Roosevelt Theodore Roosevelt Jr. (October 27, 1858 – January 6, 1919), also known as Teddy or T.R., was the 26th president of the United States, serving from 1901 to 1909. Roosevelt previously was involved in New York (state), New York politics, incl ...
for
Vice President of the United States The vice president of the United States (VPOTUS) is the second-highest ranking office in the Executive branch of the United States government, executive branch of the U.S. federal government, after the president of the United States, and ranks f ...
.


Legacy

The McCarthy Charities, Incorporated is a family
foundation Foundation(s) or The Foundation(s) may refer to: Common uses * Foundation (cosmetics), a skin-coloured makeup cream applied to the face * Foundation (engineering), the element of a structure which connects it to the ground, and transfers loads f ...
focused on improving the quality of life in
Rensselaer County Rensselaer County is a county in the U.S. state of New York. As of the 2020 census, the population was 161,130. Its county seat is Troy. The county is named in honor of the family of Kiliaen van Rensselaer, the original Dutch owner of the ...
, especially in education, social services and housing. It is operated today by a
Board of Directors A board of directors is a governing body that supervises the activities of a business, a nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulatio ...
composed of Peter McCarthy's direct descendants.


References

1845 births 1919 deaths People from Rensselaer County, New York Businesspeople from Troy, New York Philanthropists from New York (state) American people of Irish descent American industrialists 19th-century American businesspeople New York (state) Republicans 1900 United States presidential electors {{US-business-bio-1840s-stub