Sabin Woolworth Colton, Jr. (March 18, 1847 in

Philadelphia Philadelphia, often called Philly, is the largest city in the Commonwealth of Pennsylvania, the sixth-largest city in the U.S., the second-largest city in both the Northeast megalopolis and Mid-Atlantic regions after New York City. Sinc ...

Pennsylvania Pennsylvania (; (Pennsylvania Dutch: )), officially the Commonwealth of Pennsylvania, is a state spanning the Mid-Atlantic, Northeastern, Appalachian, and Great Lakes regions of the United States. It borders Delaware to its southeast, Ma ...

– January 29, 1925 in Bryn Mawr, Pennsylvania) was an American investor. He was the only private individual to ever own a chair on both the Philadelphia and

New York Stock Exchange The New York Stock Exchange (NYSE, nicknamed "The Big Board") is an American stock exchange in the Financial District of Lower Manhattan in New York City. It is by far the world's largest stock exchange by market capitalization of its listed ...

s. He became an office boy in 1862 at a stock brokerage, later became a clerk there. While a clerk there bought his own chair on the

Philadelphia Stock Exchange Philadelphia Stock Exchange (PHLX), now known as Nasdaq PHLX, is the first stock exchange established in the United States and the oldest stock exchange in the nation. The exchange is owned by Nasdaq, which acquired it in 2007 for $652 million, a ...

. His expertise was in underwriting the establishment of

utility companies A public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and ...

in exchange for stock in those companies. He retired in 1910, having built a spacious family house, Longmeadow, in

Gladwyne, Pennsylvania Gladwyne is a suburban community in Lower Merion Township, Montgomery County, Pennsylvania, United States along the historic Philadelphia Main Line. In 2018, Gladwyne was ranked the sixth richest ZIP code (using 2015 IRS data) in the country in ...

, and an elegant Arts & Crafts-style summer house, Faraway, on Eastern Point of Greening Island,

Maine Maine () is a U.S. state, state in the New England and Northeastern United States, Northeastern regions of the United States. It borders New Hampshire to the west, the Gulf of Maine to the southeast, and the Provinces and territories of Canad ...

References

1847 births 1925 deaths Businesspeople from Philadelphia New York Stock Exchange people American investors 19th-century American businesspeople {{1840s-US-business-bio-stub