Henry Varnum Poor Financial analyst, lawyer and founder of HV and HW Poor Co Date of Birth: 08.12.1812 Country: USA

1. Biography of Henry Varnum Poor
2. Early Life and Education
3. Career and Success
4. Later Life and Contributions
5. Legacy and Death

Biography of Henry Varnum Poor

Henry Varnum Poor was a financial analyst, lawyer, and founder of H.V. and H.W. Poor Co, which later became the leading company in the field of financial research and analysis, known as 'Standard & Poor's', and is one of the top three influential rating agencies in the world.

Early Life and Education

Henry Varnum Poor was born on December 8, 1812, in Andover, Maine, to Silvanus and Mary Poor. He was the first in his family to attend college and graduated from Bowdoin College in 1835. Bowdoin College, located in Brunswick, Maine, is one of the oldest colleges in New England. After graduation, he joined his uncle's law firm and became a member of the bar in 1838 after passing the bar examination.

Career and Success

Henry and his brother John opened their own law practice in Bangor, Maine, and invested in the rapidly growing lumber industry of the state. Their investments led to the accumulation of significant wealth. John Poor eventually became a local railroad magnate and actively participated in the construction of railways in Maine. In 1849, John acquired the 'American Railroad Journal', and Henry became its manager and editor. In 1860, Henry Poor published the reference book 'History of Railroads and Canals in the United States', aiming to gather comprehensive information on the financial and operational status of US railroad companies.

Together with his son, Henry William Poor, who was a banker, Henry founded the company 'H.V. and H.W. Poor Co' and began publishing an annual updated version of his reference book. This publication became a valuable resource and indispensable tool for American investors. The globally renowned rating agency 'Standard & Poor's' considers the publication of this reference book as the beginning of its history.

Later Life and Contributions

Henry Poor lived and worked in New York City for many years before relocating to Tuxedo Park, New York. Tuxedo Park was founded in 1886 by his close friend Pierre Lorillard, a prominent tobacco manufacturer and thoroughbred horse owner. Henry Poor was also one of the founders of the New York Geological Society.

Legacy and Death

The famous financier passed away on January 4, 1905, at the age of 92, in his home in Brookline, Massachusetts. He is survived by his widow, son, and three daughters. Henry Poor had suffered a broken ankle three weeks prior to his death after slipping on ice, and his overall health had a significant impact on his heart condition.