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Jules Bache
Jules Semon Bache (November 9, 1861 – March 24, 1944) was an American banker, art collector and philanthropist.
Jules Bache was born into a Jewish family in New York City. His father, Semon Bache [né Bach], emigrated to the United States from his native Nuremberg, Bavaria, settling in New York City, where he started the glassmaking firm Semon Bache & Company.
In 1881, he started work as a cashier at Leopold Cahn & Co., a stockbrokerage firm founded by his uncle. In 1886, he was made a minority partner, and in 1892, he took full control of the business, renaming it J. S. Bache & Co. Jules Bache built the company into one of the top brokerage houses in the United States, outranked only by Merrill Lynch. In the process, he became an immensely wealthy individual, a patron of the arts, and a philanthropist.
During World War I, Jules Bache donated money to the American Field Service in France, and his wife was the honorary treasurer of the "War Babies' Cradle," a charity that provided aid for mothers and children in distress in war-torn Northern France and Belgium to provide them with food, clothing, heating fuel, and medical care.
In the 1920 presidential election, Bache was a presidential elector for Warren G. Harding and Calvin Coolidge.
Jules Bache was a shareholder of a number of prominent corporations and sat on the boards of directors of many of them. Among his personal holdings, Bache had sizeable interests in Canadian mining companies. His equity in these companies was held by his Bahamas-based corporation, which allowed him to legally avoid some of the high personal U.S. surtaxes, a fact for which he would be publicly criticized as a result of the Federal investigations during the 1930s into the causes of the Wall Street Crash of 1929. Bache, however, believed that high taxation was a hindrance to economic growth and published a booklet titled "Release business from the slavery of taxation." A major shareholder in Dome Mines Limited, Bache served as company president from 1919 until 1942 and was Chairman of the Board at the time of his passing. After the brokerage firm of Dillon, Read & Co. acquired the Dodge Brothers Automobile Company in 1923, Jules Bache acquired a substantial position in Chrysler Corporation.
A supporter of American theater and Broadway, Jules Bache helped found the New York branch of the Escholier Club in 1941.
Bache married Florence R. Scheftel on May 23, 1892, and they had two daughters.
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Jules Bache
Jules Semon Bache (November 9, 1861 – March 24, 1944) was an American banker, art collector and philanthropist.
Jules Bache was born into a Jewish family in New York City. His father, Semon Bache [né Bach], emigrated to the United States from his native Nuremberg, Bavaria, settling in New York City, where he started the glassmaking firm Semon Bache & Company.
In 1881, he started work as a cashier at Leopold Cahn & Co., a stockbrokerage firm founded by his uncle. In 1886, he was made a minority partner, and in 1892, he took full control of the business, renaming it J. S. Bache & Co. Jules Bache built the company into one of the top brokerage houses in the United States, outranked only by Merrill Lynch. In the process, he became an immensely wealthy individual, a patron of the arts, and a philanthropist.
During World War I, Jules Bache donated money to the American Field Service in France, and his wife was the honorary treasurer of the "War Babies' Cradle," a charity that provided aid for mothers and children in distress in war-torn Northern France and Belgium to provide them with food, clothing, heating fuel, and medical care.
In the 1920 presidential election, Bache was a presidential elector for Warren G. Harding and Calvin Coolidge.
Jules Bache was a shareholder of a number of prominent corporations and sat on the boards of directors of many of them. Among his personal holdings, Bache had sizeable interests in Canadian mining companies. His equity in these companies was held by his Bahamas-based corporation, which allowed him to legally avoid some of the high personal U.S. surtaxes, a fact for which he would be publicly criticized as a result of the Federal investigations during the 1930s into the causes of the Wall Street Crash of 1929. Bache, however, believed that high taxation was a hindrance to economic growth and published a booklet titled "Release business from the slavery of taxation." A major shareholder in Dome Mines Limited, Bache served as company president from 1919 until 1942 and was Chairman of the Board at the time of his passing. After the brokerage firm of Dillon, Read & Co. acquired the Dodge Brothers Automobile Company in 1923, Jules Bache acquired a substantial position in Chrysler Corporation.
A supporter of American theater and Broadway, Jules Bache helped found the New York branch of the Escholier Club in 1941.
Bache married Florence R. Scheftel on May 23, 1892, and they had two daughters.