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.
