Morris Franklin was educated for the profession of the law but early evinced a taste for politics and was for years one of the chief Whig leaders of New York City. He was an Assistant Alderman and then an Alderman from Ward 7 and subsequently he represented his constituents in the New York State Senate.
Politics, however, brought more fame than fortune and finally he found himself in greatly reduced financial circumstances. His friends rallied to his assistance and the New York Life Insurance Company was through their efforts established with Mr. Franklin as its President.
His health began to fail and he was relieved from active work, although he still retained the title and many of the powers of president of the company. His salary, which had been $35,000 per year ($875,000 in 2015 dollars) was reduced to $15,000 ($375,000 in 2015 dollars). He was permitted to enjoy his leisure so far as he felt inclined to avail himself of the privilege until his passing.
Politics, however, brought more fame than fortune and finally he found himself in greatly reduced financial circumstances. His friends rallied to his assistance and the New York Life Insurance Company was through their efforts established with Mr. Franklin as its President.
His health began to fail and he was relieved from active work, although he still retained the title and many of the powers of president of the company. His salary, which had been $35,000 per year ($875,000 in 2015 dollars) was reduced to $15,000 ($375,000 in 2015 dollars). He was permitted to enjoy his leisure so far as he felt inclined to avail himself of the privilege until his passing.
Morris Franklin was educated for the profession of the law but early evinced a taste for politics and was for years one of the chief Whig leaders of New York City. He was an Assistant Alderman and then an Alderman from Ward 7 and subsequently he represented his constituents in the New York State Senate.
Politics, however, brought more fame than fortune and finally he found himself in greatly reduced financial circumstances. His friends rallied to his assistance and the New York Life Insurance Company was through their efforts established with Mr. Franklin as its President.
His health began to fail and he was relieved from active work, although he still retained the title and many of the powers of president of the company. His salary, which had been $35,000 per year ($875,000 in 2015 dollars) was reduced to $15,000 ($375,000 in 2015 dollars). He was permitted to enjoy his leisure so far as he felt inclined to avail himself of the privilege until his passing.
Politics, however, brought more fame than fortune and finally he found himself in greatly reduced financial circumstances. His friends rallied to his assistance and the New York Life Insurance Company was through their efforts established with Mr. Franklin as its President.
His health began to fail and he was relieved from active work, although he still retained the title and many of the powers of president of the company. His salary, which had been $35,000 per year ($875,000 in 2015 dollars) was reduced to $15,000 ($375,000 in 2015 dollars). He was permitted to enjoy his leisure so far as he felt inclined to avail himself of the privilege until his passing.
Family Members
Advertisement
Advertisement
