F. Abott Goodhue

Goodhue was born in Brookline, Massachusetts on June 14, 1883.^[1] He was a son of Francis Abott Goodhue (1847–1905) and Elizabeth Johnson (née Cushing) Goodhue. His siblings were Lawrence Cushing Goodhue (husband of Gertrude Munroe Smith, a daughter of Prof. Munroe Smith and granddaughter of Gen. Henry S. Huidekoper) and Elizabeth Cushing Goodhue (wife of Claude Fuess, Headmaster of Phillips Academy). His paternal grandparents were Samuel Goodhue and Mary Caroline (née Williams) Goodhue.

After graduating from Philips Academy in Andover, Massachusetts, he attended Harvard College where he graduated in 1906,^[1] followed by one year at Harvard Law School.^[2]

Summarize Timeline Fact Check

In 1907, Goodhue began his banking career as a messenger with First National Bank of Boston. He became president of the Brookline Trust Company in 1912 a year before he was named vice president of the First National Bank of Boston and engaged in foreign banking activities. In 1917, he established a branch of the bank in Buenos Aires, Argentina.^[1] In 1919, while at First National, he "inspired the formation" of the French American Banking Corporation of New York, serving as a director.^[2]

In 1921, Goodhue came to New York City to help organize the International Acceptance Bank, of which he served as president from 1921 until 1931, with James Warburg (the son of Paul Warburg) as his vice president. The International Acceptance Bank was acquired by the Bank of the Manhattan Company in 1929, with Goodhue becoming president and Warburg becoming chairman of the combined organization.^[2]

In 1929, he was elected president of the American Acceptance Council which had been founded by Paul Warburg in 1919. In 1931, he was succeeded by Charles S. McCain, chairman of the board of the Chase National Bank.^[3]

When International Acceptance merged with the Bank of the Manhattan Company in 1931,^[4] he became president of the combined bank serving in that role until his retirement in 1948 when he was succeeded by Lawrence C. Marshall.^[5]

In 1918, Goodhue served as one of three representing the United States on the Interallied Committee for War, Purchases and Finance in London. In 1932, he began serving on the American Committee on Standstill Credits to Germany. He resigned in 1939 because the bank had no longer had any outstanding debts under the agreement.^[6][7]

In 1937, he accepted the chairmanship of the finance section in the United Hospitals Campaign. In that role, he directed the work of nineteen major solicitation groups on behalf of the ninety-two voluntary hospitals in the fund and the Visiting Nurse Association of Brooklyn.^[8]

In 1942, Governor Herbert H. Lehman nominated Goodhue to replace Mortimer N. Buckner on the State Banking Board, Group 1, which acted as an advisory "cabinet" to the New York State Superintendent of Banks.^[9] Group 1 was originally reserved for nominees of the ten banks with deposits of more than $150,000,000 when it was established in 1932.^[10]

After his retirement from the Manhattan Company in 1948, he continued to serve on the board until 1955 when the bank was merged with the Chase National Bank becoming the Chase Manhattan Bank. Goodhue served as a member of the bank's trust advisory board until his death in 1963.^[1]