October 15, 1921 – The Jay Cooke Sculpture was dedicated in Duluth on this date, the 100th
anniversary of Cooke's birth. By sculptor Henry M. Shrady who did the Grant
Monument on Pennsylvania Avenue in Washington, D. C., the statue was a gift to
Duluth of J. Horace Harding, spouse of Cooke's granddaughter, of New York.
http://www.thehistorypeople.com/data/docs/timeline-part2.pdf
Jay
Cooke
No individual in the history of Duluth had a more dramatic effect on the port’s
infant development than Jay Cooke, a Philadelphia financier. Cooke’s influence
at the Head of the Lakes was brief, but profound and enduring for rail and
waterborne commerce.
One of Cooke’s earliest achievements was bringing the Lake Superior and
Mississippi Railroad from St. Paul to Duluth. The L.S. & M.R.R. had been
chartered by the state in 1857. At first he declined requests to invest, but
after visiting the area in 1867 he saw its potential and bought into the plan
by selling $2.5 million of the railroad’s bonds. The line was completed from
St. Paul to Duluth in August 1870 with its terminus on the Lake Superior
shoreline about one-mile west of where you are standing, between 3rd
and 4th Avenues East.
Cooke also financed construction of grain elevators at both ends of the
railroad, beginning in 1869. Elevator A, the first of its kind in the Twin
Ports, stood at the Duluth terminus.
Cooke’s confidence in Duluth’s potential was felt
elsewhere in the community. He financed the city’s first church and personally
backed its first bank. Yet, like many speculators Cooke became overextended in
the nation’s rapid expansion following the Civil War. His financial empire
began to crumble when his own banks failed, igniting the Panic of 1873.
Perhaps Jay Cooke’s greatest legacy to Duluth was his vision for the large
natural harbor inside Minnesota Point. His financial backing, energy and
enthusiasm so revitalized the existing Minnesota Canal and Harbor Improvement
Company that the Duluth Ship Canal was dug through Minnesota Point in 1871, and
dredging of harbor channels soon followed. Construction of the Duluth entry,
with subsequent federal improvements, assured the eventual success of the
Duluth-Superior harbor as a world port.
The statue in Jay Cooke Plaza shows him in a relaxed pose holding his characteristic
low-crowned broad-brimmed hat, overlooking Lake Superior and the ship canal—a vision
fulfilled—and much appreciated today. The bronze statue, by Henry M. Shrady,
was dedicated on October 15, 1921, the 100th anniversary of Cooke’s
birth.
Photos taken by Pamela J. Erickson. Released into
the public domain April 4, 2015, as long as acknowledgement included.
__________________________________________________________
If you are interested in finding out more about your family history in
Minnesota, I specialize in researching
genealogical and historical records in Minn. and western Wis.,
including: census records, birth records, death certificates, obits, grave site photos,
ship passenger lists, marriage records and declarations of
intent/naturalization records. I will visit locations to research local
history and county records, as well as take photos. Quick turnaround on MNHS
records. Both short searches and family history reports available.
Discover your roots, and watch the branches of your family tree begin to grow.
Website: TheMemoryQuilt.com > click on Family History
Contact me at: pjefamilyresearch@gmail.com
