Overview
James Hood Wright (known professionally as J. Hood Wright; November 4, 1836 – November 12, 1894) was an American banker, financier, corporate director, business magnate, and reorganizer of US railroads. He began as a bookkeeper but his management talents led him to becoming a partner in J. P. Morgan's banking firms. He sat on the board of directors for, and reorganized, several railroads. He facilitated investment in Thomas Edison's electrical enterprises and technology. Wright became wealthy in his business operations and was known as a philanthropist in New York City. At the time of his death, interest in his finances set off national media reporting on the size and disposition of his estate.
Early life
Wright was born to William and Sarah Wright Hood in Philadelphia, United States, on November 2, 1836. As a teenager, he became a dry-goods clerk, a position he held for several years.
Career
Drexel, Morgan and Company
In his early twenties, Wright became a clerk at the Philadelphia banking firm, Drexel and Company, where a talent for bookkeeping led to rapid promotions. He was named a partner around 1864. He excelled in detecting counterfeit money and was given the responsibility to review and identify ersatz currency. Wright moved to New York City to work for Drexel, Morgan and Company, the successor firm of Drexel and Company. Pierpont became fed up with the youngest Drexel brother, Joseph, and was heartened when the Drexels suggested Wright as a potential partner, whom he found "...competent, quick, accurate and a ‘capital negotiator.’" Fearful that losing Joseph would alienate the Drexel family, Pierpont was relieved when Joseph retired that year, allowing him to begin his long association with Wright.
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