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Abiel Abbot Low
Abiel Abbot Low (February 7, 1811 – January 7, 1893) was an American entrepreneur, businessman, illegal opium smuggler and dealer, and philanthropist who gained most of his fortune from the China trade, importing teas, porcelains, and silk, and building and operating a fleet of reputable clipper ships.
Low was one of twelve children (eight sons, four daughters) of a Salem, Massachusetts, drug merchant, Seth Low, and Mary (née Porter) Low. His sister, Harriet Low, was one of the first young American women to live in China and is remembered for her journal of life in Macau from 1829 to 1833. Another brother, Charles Porter Low, served as captain on the Houqua, Jacob Bell, Samuel Russell, and N.B. Palmer.
His paternal grandparents were Hannah (née Haskell) Low and David Low (a son of David and Abigail (née Choate) Low).
Abiel grew up attending public schools; became a clerk in the house of Joseph Howard & Company, a company engaged in the South American trade, and moved to New York with his family in 1829. There, Seth Low's pharmaceutical business flourished, importing drugs and India goods.
In 1833, Low sailed to Canton, China, and started working as a clerk for the mercantile house of Russell & Company, the largest American firm in China and also the country's leading American opium trading and smuggling enterprise. Founded by Samuel Russell, Low's uncle, William Henry Low, had been at its head for some years. In 1837, after four years of learning the intricacies of trading in China, Low became a partner in the firm. He launched his own business in 1840 in a joint venture with Wu Bingjian, also known as Howqua, a mentor for young Americans in China, a very important Hong merchant, head of the Canton Cohong and one of the richest men in China. The company, A. A. Low & Brother named for both him and his brother, Josiah Orne Low, rapidly became one of the leading China and Japan silks and teas trading company.
Having made his fortune in China working with Russell & Co, and shortly after the launch of his business, Low returned to New York. There, he set up his New York headquarters on Fletcher Street, in a building shared with his father's business. In 1849–1850, Low erected the A. A. Low building at 167–171 John Street, now the offices of the South Street Seaport Museum. The firm was situated at its Burling Slip building from 1850 to after the turn of the century.
Low launched his own fleet of clippers, among which were the Houqua, the first streamlined ship, named after his Chinese business partner who had died in 1843, and the Samuel Russell, named after the founder of the mercantile company in which Low had worked as a clerk. Two other of Low's clippers, the Contest and the Jacob Bell, were subsequently destroyed by Confederate privateers during the Civil War.
Low was known for his business astuteness and shrewdness. He is said to have instructed his captains in China to wait and let competitors purchase the first tea pickings, and to purchase the following tea pickings at a lower price. Because of the speed of his clippers, he still managed to reach New York before his competitors.
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Abiel Abbot Low
Abiel Abbot Low (February 7, 1811 – January 7, 1893) was an American entrepreneur, businessman, illegal opium smuggler and dealer, and philanthropist who gained most of his fortune from the China trade, importing teas, porcelains, and silk, and building and operating a fleet of reputable clipper ships.
Low was one of twelve children (eight sons, four daughters) of a Salem, Massachusetts, drug merchant, Seth Low, and Mary (née Porter) Low. His sister, Harriet Low, was one of the first young American women to live in China and is remembered for her journal of life in Macau from 1829 to 1833. Another brother, Charles Porter Low, served as captain on the Houqua, Jacob Bell, Samuel Russell, and N.B. Palmer.
His paternal grandparents were Hannah (née Haskell) Low and David Low (a son of David and Abigail (née Choate) Low).
Abiel grew up attending public schools; became a clerk in the house of Joseph Howard & Company, a company engaged in the South American trade, and moved to New York with his family in 1829. There, Seth Low's pharmaceutical business flourished, importing drugs and India goods.
In 1833, Low sailed to Canton, China, and started working as a clerk for the mercantile house of Russell & Company, the largest American firm in China and also the country's leading American opium trading and smuggling enterprise. Founded by Samuel Russell, Low's uncle, William Henry Low, had been at its head for some years. In 1837, after four years of learning the intricacies of trading in China, Low became a partner in the firm. He launched his own business in 1840 in a joint venture with Wu Bingjian, also known as Howqua, a mentor for young Americans in China, a very important Hong merchant, head of the Canton Cohong and one of the richest men in China. The company, A. A. Low & Brother named for both him and his brother, Josiah Orne Low, rapidly became one of the leading China and Japan silks and teas trading company.
Having made his fortune in China working with Russell & Co, and shortly after the launch of his business, Low returned to New York. There, he set up his New York headquarters on Fletcher Street, in a building shared with his father's business. In 1849–1850, Low erected the A. A. Low building at 167–171 John Street, now the offices of the South Street Seaport Museum. The firm was situated at its Burling Slip building from 1850 to after the turn of the century.
Low launched his own fleet of clippers, among which were the Houqua, the first streamlined ship, named after his Chinese business partner who had died in 1843, and the Samuel Russell, named after the founder of the mercantile company in which Low had worked as a clerk. Two other of Low's clippers, the Contest and the Jacob Bell, were subsequently destroyed by Confederate privateers during the Civil War.
Low was known for his business astuteness and shrewdness. He is said to have instructed his captains in China to wait and let competitors purchase the first tea pickings, and to purchase the following tea pickings at a lower price. Because of the speed of his clippers, he still managed to reach New York before his competitors.