NYC Walking Tour - Abiel Abbot Low Businessman South Street Seaport

 Abiel Abbot Low

Abiel Abbot Low (February 7, 1811 – January 7, 1893) was an American entrepreneur, businessman, trader 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.

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 leading American opium trading and smuggling enterprise into China. In 1837, after four years of learning the intricacies of trading in China, Low became a partner in the firm. In 1840, he launched his own business 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 he 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, the largest US opium smuggling enterprise into China at the time of the Opium Wars, 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 part of the historic South Street Seaport historic area. 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.

Low never pursued an active political career, unlike his father, who had become mayor of the village of Brooklyn, or son, Seth Low, who later became the mayor of Greater New York. However, Low did accept nominations as a consultant and advisor to local trade and governmental authorities regarding trade and commercial interests. During the Civil War, he was active within the Union Defense Committee of New York, a member of the War Fund Committee of Brooklyn, and president of the General Committee of Citizens in Brooklyn, appointed in aid of the sanitary service.

The Low Memorial Library, administrative center of Columbia University, was built in his memory by his son, Seth, in 1895.

He died in Brooklyn on January 7, 1893.

Low married Ellen Almira, daughter of Josiah Dow of Brooklyn on March 16, 1841, and had two sons and two daughters from this marriage: Harriette Low (October 24, 1842–1884), Abbot Augustus Low (May 12, 1844–1912), inventor (notably of the paper shredder), businessman and industrialist, Ellen Low (June 30, 1846–1884), and Seth Low (January 18, 1850 – September 17, 1916) who later became mayor of New York and president of Columbia University.