Johns Hopkins University - Hullabaloo Yearbook (Baltimore, MD)

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Here he showed such zeal and industry that in a short time he gained the full confidence of his uncle and made many friends. Two years later Gerard T. Hopkins was compelled to make a long trip, and had such confidence in johns that to him was entrusted the entire business. On his uncle's return it was found that his nephew had, through his natural shrewdness, done much better than was even expected. In ISIQ. seven years after leaving home, having accumulated about 5800, and his uncle promising to endorse for him, he entered into partnership with another young man, B. P. Moore, in the grocery business. This partnership was dissolved three years later when he formed partnership with his two brothers, and so founded the house of Hopkins Brothers. from which he retired in 1847 after twenty-live years of success. After this he engaged in the banking business and was elected President of the Merchants' Bank. This pcsition he held at the time of his death, as also a directorship in several other banks. Mr. Hopkins was also much interested in railroads, particularly in the Baltimore and Ohio, of which he was a director. ln 1855 he was chosen chairman of the Finance Committee of that road. Two years later, when the Baltimore and Ohio became financially embarrassed, owing to its branch roads, it was johns Hopkins who endorsed its notes in full, and so risked his entire fortune. But he saved the company. Again, in 1873, he risked 52,000,000 of his stock, and advanced f900,000 to the Baltimore and Ohio in order to allow them to pay their interest in cash while other companies issued scrip. He had so much confidence in this company that he alone owned between 15,000 and 17,000 shares of its stock, and it was this stock which, after his death, was bequeathed to the University and caused the trustees so much uneasiness last year. Johns Hopkins, after an industrious career and beloved by all, died in Baltimore December 24, 1873, at the age of seventy-eight years. 8 His estate was estimated at about ,'5I0,000,000, of which he left about 7,000,000 to the University and Hospital, and the balance partly to his relatives and partly for other designated purposes. He was not married. 3 The endowment for the University was unconditional with these exceptions. The capital cannot be used for building, and the University shall be unsectarian and free from political control. The entire gift of the University consisted of Clifton Cjohns Hopkins's residencej, which contains about 330 acres of land, 15,000 shares of Baltimore and Ohio Railroad stock, and other securities to the amount of f750,000. The entire endowment is estimated at about f3,000,000. The University was incorporated by johns Hopkins and twelve of his friends on the 24th of August, 1867. The public exercises attending the inauguration of its President took place I9

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February 22, 1876, and the University opened for work October 3, 1876. The Hospital, which he also endowed with about f3I5OO,OOO, is to co-operate with the University in educating the people. The condi- tion was that it should relieve the poor, irrespective of creed, color or race, but that there should also be provision at the Hospital for those who might be able to pay. The grounds for the Hospital cover about thirteen acres, and the Hospital was formally opened May 7, 1889. Besides the University and Hospital, johns Hopkins also founded an Asylum for Colored Children who have lost their parents, or only one parent, or in exceptional cases children who are not orphans but may be in need of charity. It can be seen from this sketch that Johns Hopkins was a true friend to all, irre- spective of color or race, and many cases can be found where he helped industrious people to improve their condition. Many business men also owe their success to the advice and money of Johns Hopkins. M. 325, 975' V. if N .0 f- R 'f3?l12ixl9ji2i ef T20