Julius Rosenwald

Julius Rosenwald (born August 12, 1862 in Springfield, Illinois - January 6, 1932) was a U.S. manufacturer, business executive, and philanthropist. Julius Rosenwald source: http://www. ... Julius Rosenwald source: http://www. ... August 12 is the 224th day of the year (225th in leap years) in the Gregorian Calendar. ... 1862 was a common year starting on Wednesday (see link for calendar). ... Motto: Nickname: Map Political Statistics Founded 1819 Sister Cities {{{sister cities}}} Incorporated County Sangamon County Borough {{{borough}}} Parrish {{{parrish}}} Mayor Timothy Davlin Geographic Statistics Area  - Total  - Water 156. ... January 6 is the 6th day of the year in the Gregorian calendar. ... 1932 (MCMXXXII) is a leap year starting on Friday. ... The United States of America — also referred to as the United States, the U.S.A., the U.S., America, the States, or (archaically) Columbia—is a federal republic of 50 states located primarily in central North America (with the exception of two states: Alaska and Hawaii). ... A philanthropist is someone who devotes his time, money, or effort towards helping others. ...

Julius Rosenwald was born to Jewish immigrant clothier Samuel Rosenwald and his wife Augusta Hammerslough Rosenwald. He was born and raised just a few blocks from the Abraham Lincoln residence in Springfield, Illinois. Abraham Lincoln (February 12, 1809 – April 15, 1865), sometimes called Abe Lincoln and nicknamed Honest Abe, the Rail Splitter, and the Great Emancipator, was the 16th President of the United States (1861 to 1865), and the first president from the Republican Party. ... Motto: Nickname: Map Political Statistics Founded 1819 Sister Cities {{{sister cities}}} Incorporated County Sangamon County Borough {{{borough}}} Parrish {{{parrish}}} Mayor Timothy Davlin Geographic Statistics Area  - Total  - Water 156. ...

By his sixteenth year, his parents apprenticed Rosenwald to his uncles in New York City to learn the clothing trades. While in New York he befriended Henry Goldman and Henry Morgenthau, Sr.. With his younger brother Morris, Rosenwald started a clothing manufacturing company but was ruined by a recession in 1885. Rosenwald had heard about other clothiers who had begun manufacturing clothing according to the standardized sizes that had been collected during the US Civil War. He decided to try the system but closer to the rural population that he anticipated would be his market. He and his brother moved to Chicago. Nickname: The Big Apple Motto: Official website: City of New York Location Location in the state of New York Government Counties (Boroughs) Bronx (The Bronx) New York (Manhattan) Queens (Queens) Kings (Brooklyn) Richmond (Staten Island) Mayor Michael Bloomberg (R) Geographical characteristics Area Total 468. ... There are two notable people called Henry Morgenthau, father and son: Henry Morgenthau, Sr. ...

Once in Chicago, Julius and Morris enlisted more help from a cousin, Julius Weil, and together they founded Rosenwald and Weil Clothiers.

In 1891, Rosenwald married Augusta Nussbaum, a daughter of a competing clothier. Together they had five children. Lessing Rosenwald himself becoming a prominent businessman, following his father in the chairmanship of Sears, Roebuck company (1932-1939).

In 1893, Richard Sears and Alvah C. Roebuck renamed their watch company to Sears, Roebuck & Company and began to slowly diversify. Rosenwald and Weir were a principal supplier of mens' clothing for Sears, Roebuck. The volumes of unsold merchandise caused by the Panic of 1893 and his declining health led Roebuck to leave the company. He placed his interest in the company in the hands of Sears who, in turn, offered that half of the company to Alfred Nussbaum. Nussbaum, himself needing backers, asked to his brother-in-law, Julius Rosenwald, for financing. Sears sold Roebuck's half of the company to Nussbaum and Rosenwald for seventy-five thousand dollars. For the American tennis player, see Richard Sears (tennis player). ... Alvah Curtis Roebuck (1864-1948) born: 9 January 1864 in Lafayette, Indiana died: 18 June 1948 Alvah Roebuck began work as a watchmaker in a Hammond, Indiana jewelry store at age 22. ... Sears Holdings Corporation NASDAQ: SHLD is the third largest retailer in the United States, behind Wal-Mart and The Home Depot. ... The Panic of 1893 was a serious decline in the economy of the United States that began in 1893 and was precipitated in part by a run on the gold supply. ...

Rosenwald worked exceptionally well with Richard Sears. Rosenwald brought to the company a rational management philosophy and diversified product lines into dry goods, consumer durables, drugs, hardware, furniture, and nearly anything else a farm household could desire. From 1895 to 1907, under Rosenwald's leadership as Vice President and Treasurer, annual sales climbed from $750,000 to over $50 million. The prosperity of the company and their vision for greater expansion led Sears and Rosenwald to take the company public in 1906. Rosenwald turned to his old friend Henry Goldman, who was now a senior partner at Goldman Sachs, to handle the IPO. Richard Sears resigned the presidency in 1908 due to declining health and Rosenwald was named president in his place. Goldman Sachs, Inc. ...

Sears, Roebuck was laid low during the post-World War One recession and to bail out the company, Rosenwald pledged $21 million of his personal wealth. By 1922, Sears had regained financial stability and two years later, Rosenwald resigned the presidency to devote his time to his philanthropies. He was appointed Chairman of the Board of Sears, a post he held through the end of his life.

After the 1906 financial reorganization of Sears, Rosenwald became friends with Goldman Sachs's other senior partner, Paul Sachs. Sachs often stayed with Rosenwald during his many trips to Chicago and the two would discuss America's social situation, agreeing that the plight of African Americans was the most serious in the US. Sachs introduced Rosenwald to promoters of African American education William H. Baldwin and Booker T. Washington. Rosenwald made common cause with Washington and was asked to serve on the Board of Directors of the Tuskegee Institute in 1912, a position he also held for the remainder of his life. He also endowed the Institute so that Washington could spend less time on the road seeking funding and devote more time towards management of the Institute. Booker T. Washington Booker Taliaferro Washington (April 5, 1856 – November 15, 1915) was an African-American political leader, educator and author. ... The Tuskegee Syphilis Study was conducted at this university, a controversial study of syphillis on black men Tuskegee University is an American institution of higher learning located in Tuskegee, Alabama. ...

Inspired by the social progressivism of Jane Addams, Minnie Low, Grace Abbott, Paul Sachs, and Booker T. Washington and the Reform Judaism of Emil Hirsch and Julian Mack (many of whom were his personal friends as well), Rosenwald devoted his time, energy, and money towards philanthropy. His Rosenwald Fund, established in 1917, was for "the well-being of mankind." Unlike other endowed foundations, which were designed to fund themselves in perpetuity, The Rosenwald Fund was intended to use all of its funds for philanthropic purposes. In doing so, the fund was completely spent by 1948. Over the course of his life, he and his fund donated over 70 million dollars to public schools, colleges and universities, museums, Jewish charities and black institutions. Jane Addams Jane Addams (September 6, 1860 – May 21, 1935) was an American social worker, sociologist, philosopher and reformer, known in America as the mother of social work. // Biography Born in Cedarville, Illinois, .Jane Addams was educated in the United States and Europe, graduating from the Rockford Female Seminary (now... Grace Abbott (November 17, 1878 - June 19, 1939) was an American social worker who specifically worked in advancing child welfare. ... Booker T. Washington Booker Taliaferro Washington (April 5, 1856 – November 15, 1915) was an African-American political leader, educator and author. ... Reform Judaism can refer to (1) the largest denomination of Judaism in America and its sibling movements in other countries, (2) a branch of Judaism in the United Kingdom, and (3) the historical predecessor of the American movement that originated in 19th Century Germany. ... Emil Gustav Hirsch (1851-1923), born in Luxembourg, was a major Reform Judaism rabbi in the USA. In 1892 he became professor of rabbinical literature and philosophy at the University of Chicago. ... Julian Mack (July 19, 1866 - September 4, 1943) was a Jewish American jurist and social reformer. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... The term public school has two contrary meanings: In England, one of a small number of prestigious historic schools open to the public which normally charge fees and are financed by bodies other than the state, commonly as private charitable trusts; here the word public is used much as in... A college (Latin collegium) can be the name of any group of colleagues; originally it meant a group of people living together under a common set of rules (con-, together + leg-, law). As a consequence members of colleges were originally styled fellow and still are in some places. ... A university is an institution of higher education and of research, which grants academic degrees. ... A museum is a non-profit making, permanent institution in the service of society and of its development, open to the public, which acquires, conserves, researches, communicates and exhibits, for purposes of study, education and enjoyment, the tangible and intangible evidence of people and their environment. ... The word Jew ( Hebrew: יהודי) is used in a wide number of ways, but generally refers to a follower of the Jewish faith, a child of a Jewish mother, or someone of Jewish descent with a connection to Jewish culture or ethnicity and often a combination of these attributes. ... A charitable trust (or charity) is a trust organized to serve private or public charitable purposes. ...

He was the principle founder and backer for the Museum of Science and Industry, Chicago, to which he gave over five million dollars and served as the President (1927-1932). The Museum of Science and Industry is housed in the only surviving building from the 1893 World Columbian Exposition and is a National Historic Landmark. ...

Washington encouraged Rosenwald to address the poor state of African American education in the US. The school building program was one of the largest programs administered by the Rosenwald Fund. The Rosenwald Fund contributed over four million dollars to the construction of over five thousand schools, shops, and teachers' homes in the south. These schools became known as "Rosenwald Schools."

Rosenwald died at his home in Rivinia, Illinois, on January 6, 1932.

Bibliography

• Werner, M. R. Julius Rosenwald: The Life of a Practical Humanitarian. 2d ed. New York: Harper, 1939.

• Embree, Edwin R. Investment in People? The Story of the Julius Rosenwald Fund. New York: Harper and Brothers, 1949.