1893
January 1
The Panic of 1893 was one of the worst financial crises in the history of the United States. By June, hundreds of banks had suspended operations, and the effects of a resultant depression would be felt for another 5 years. This was known as “The Great Depression” until the more significant contraction occurred in the 1930s; the unemployment rate stood at nearly 20%.
March 1
The newly formed Carnegie Steel produced more steel than the British Empire with most of it due to railroad expansion.
May 31
Despite economic uncertainty and railroad growth, Henderson Brothers began its life in 1893 as a steamboat packet line led by Steamboat Captain James A. Henderson, as seen here on the old Monongahela Wharf.
June 1
Captain James A. Henderson and his brother-in-law, George Johnson, took a controlling stake in the Pittsburgh & Cincinnati Packet Line when it was reorganized and chartered in Pittsburg* on June 1, 1893. This date is recognized as the birthday of Henderson Brothers. (*Please Note: Pittsburgh was temporarily stripped of its ‘h’ in 1891 by the United States Board on Geographic Names)
July 1
Riverboat travel was hazardous. From 1811 to 1851, 21% of river accidents were caused by a steam explosion. Boilers built pressure to power paddleboats. If these tanks were not adequately monitored or maintained, the result could be a violent and deadly explosion. Another danger of river travel was a ‘snag.’ A snag is an unforeseen obstacle that damages or causes a boat to sink. Snags might include sunken boats or trees. It was rare for a steamboat to last five years.
1897
May 31
Due to the hazards of steamboat travel, ensuring boats and their cargo was vital for a successful packet line. Captain Henderson’s sons, A.J. and Marshall, came to work alongside him to take up this responsibility.
May 31
The Pittsburg & Cincinnati Packet Line launched “The Queen City” (above) and her sister boat “Virginia.” to attract more affluent passengers with deluxe packet ships for pleasure trips between Pittsburg and Cincinnati. The shift in business away from cargo directly resulted from increased railroad competition.
1903
May 31
The Pittsburg Pirates (shown playing at Exhibition Park in old Allegheny City, now the city’s Northside) lost the best of nine games to the Boston Americans in the first-ever modern World Series.
1905
May 31
The world’s first theater dedicated solely to motion pictures, Nickelodeon, opened on Smithfield Street in Pittsburg. Its name came from the price(nickel) plus the Greek name for the concert hall, Odeon.
1908
May 31
The pressure of railroad competition finally overwhelms the market for steamboats; the P&CPL is forced into receivership.
December 3
Recognizing the opportunity to continue insuring commerce and property, the Pittsburgh & Cincinnati Packet Line is reorganized as Henderson Brothers, with AJ and Marshall Henderson as majority stakeholders and Captain Henderson in an advisory role. Steamboat operations cease, and assets are sold.
Henderson Brothers is chartered with the primary purpose of brokering insurance.
1911
1920
October 31
In November of 1920, Pittsburgh’s Westinghouse Electric and Manufacturing Company transmitted the first scheduled broadcast under the name KDKA.
1926
May 31
Construction begins on the University of Pittsburgh’s Cathedral of Learning. It would briefly be the tallest university structure on Earth until Stalin’s Moscow State University Main Building was finished with a 784 ft spire to make it taller.
1936
1953
March 26
The University of Pittsburgh’s Dr. Jonas Salk announced a successful test on a small group of adults and children for the polio vaccine developed by his team.
1962
January 1
Thomas E. Grealish, purchased the company from his aunt, Rose McMinn Kelly, and hired his brother-in-law, John Philbin. They keep the name Henderson Brothers out of respect for Captain Henderson, his sons, and their legacy in the region.
1968
May 31
The first national broadcast of Mr. Roger’s Neighborhood. Fred Rogers initially appeared on The Children’s Corner on Pittsburgh’s WQED beginning in 1954.
1979
1982
1983
1984
1986
1987
1998
May 31
Henderson Brothers’ current headquarters is purchased at 920 Fort Duquesne Boulevard, and its office locations are consolidated there for a grand opening on May 1, 1999.
2000
2005
2016
May 31
When Daniel joined Henderson Brothers, he became the fourth-generation family member at the firm.
2018
June 1
The city of Pittsburgh declares April 24, 2018, as “Henderson Brothers Day” with an official proclamation. Henderson Brothers celebrates with customers and its employees.
Generations have turned to Henderson Brothers for insurance and expertise through four panics, two depressions, and twenty recessions.
Today, thousands of clients continue to value our heroic service and trust our advice; they expect an expert to provide unparalleled expertise, industry-leading solutions, and world-class customer satisfaction. We remain an independent family business, committed to our community through extensive sponsorship and volunteering.
References:
- Federal Reserve History: Banking Panics of the Gilded Age
- “Andrew Carnegie | Biography & Facts” Encyclopedia Britannica. Retrieved August 23, 2017.
- Georgetown Steamboats: Pitt and Cincinnati Packet Line
- The Ohio Memory: Queen City Steamboat Photograph
- After a frightening start, the brothers found their feet and kept the insurance company growing, The Pittsburgh Post-Gazette, December 21, 2016
- A History of Steamboats, The Army Corps of Engineers
- Family Business Awards: Henderson Brothers was started by a steamboat captain, The Pittsburgh Business Times, May 3, 2019