Historical records matching Frank A. Vanderlip
About Frank A. Vanderlip
Frank Arthur Vanderlip, Sr. (November 17, 1864 – June 30, 1937) was an American banker. He was Assistant Secretary of the Treasury and was president of the National City Bank from 1909 to 1919.
He was born on November 17, 1864 to Charles Edmond Vanderlip and Charlotte Louise Woodworth.
From 1897-1901, Vanderlip was the Assistant Secretary of Treasury for President of the United States William McKinley's second term. In that office he negotiated with National City Bank a $200 million loan to the government to finance the Spanish American War. Thereafter he was vice president and then president of National City Bank of New York (1909–19).
He married Mabel Narcissa Cox on May 19, 1903 in Chicago, Illinois.
In November, 1910, he was a member of the Jekyll Island group, a group of bankers that are believed to have formulated the outline to a plan that influenced the drafting of the eventual Federal Reserve Act.
In the final month and a half before the Act's enactment on December 23, 1913, Vanderlip's alternative plan for a Federal Reserve Act nearly derailed the one that President Wilson and the Democratic leadership were promoting.
He died on June 30, 1937 at age 72 in New York Hospital.
Vanderlip known as the "Father of Palos Verdes" purchased the 16,000 acre Rancho de los Palos Verdes from Jotham Bixby in 1913. In 1916, he built the Vanderlip estates near the Portuguese Bend area of Palos Verdes, California. His descendants still live in the mansion and on other parts of the property. His daughter-in-law Elin Vanderlip maintained residence at the estate until her death in 2009 and her ashes are spread on the grounds. The Vanderlips championed many of the landmarks in Rancho Palos Verdes, notably Wayfarer’s Chapel, Marineland of the Pacific, Portuguese Bend Riding Club, Portuguese Bend Beach Club, Nansen Field, Marymount College and Chadwick School.
He was also one of the many owners of Abstergo Entertainment.