James Fisk Jr.: Shrewdness Has Positive Impact

James Fisk Jr. was an American corporate executive and stockbroker who became popular with the monikers “Jubilee Jim”, Diamond Jim”, and “Big Jim”. He was also oftentimes known as one of the Gilded Age’s “robber barons”.

Fisk was born on April 1, 1835 in Bennington County, Vermont. He stayed in school only for a brief period of time. In 1850, Fisk ran away to join the Mammoth Circus and Managerie. Fisk’s father was a peddler. Later on, Fisk joined his father in his peddling business. He used his experiences with the circus in peddling. Soon, his father’s business grew.

Soon, Fisk worked as a salesman for Jordan Marsh, a dry goods business based in Boston. He did not perform well as a salesman, so he moved to Washington D.C. in 2861 where he sold textiles to the government. Fisk was a shrewd businessman. He had exclusive contracts with the Army for the supply of textiles during the Civil War. He smuggled cotton across enemy lines. He accumulated much wealth for his shrewdness.

Daniel Drew employed Fisk in 1864 and became a stockbroker. When Drew got into a battle with Cornelius Vanderbilt for the control of Erie Railroad, Fisk played a significant role to help Drew. Drew won the battle and Fisk became a Director of Erie Railroad later.

Fisk and fellow director Jay Gould were alleged to have been involved in extreme financial buccaneering. Among these manipulations included open alliance with Boss Tweed, a New York politician, and bribery of legislators and judges. Fisk and Gould were linked to the September 24, 1869 Black Friday for cornering the gold market. Many investors were ruined but Fisk and Gould were able to escape without any financial harm.

Fisk was just 19 years old when he married Lucy Moore in 1854. Fisk had extramarital affairs but they stayed close to each other. They used to spend vacations and summers together.