Hiram Bond - Early Investment Career

Early Investment Career

Through Depew, he was introduced to and became a broker for John Tobin & Co., part of the powerful Vanderbilt Organization. At Tobin & Co. he was the floor broker for Commodore Cornelius Vanderbilt and his son William Henry Vanderbilt on the New York Gold Exchange executing their trading in "greenbacks" and gold during the Civil War. The value of greenbacks against gold varied widely as investors altered their perception on the progress of the war. Greenbacks United States Notes sold at a discounted price in comparison to gold. However, if chances of victory rose they became perceived as a business opportunity. For the most part however, if the war was dragging on, people wanted the security of gold. Vanderbilt employed a private intelligence network on the front line reporting early news. Hiram Bond's position led to his prominent contacts on Wall Street, in the military, and in politics. He is described by Professor Richard Lowe as having financial dealings during the Civil War with Gen. Ulysses S. Grant. Among the other investment houses acting in collaboration with Commodore Vanderbilt and Tobin, and that Hiram Bond was acquainted with, was that of the two Jeromes Addison Jerome and Leonard Jerome who was the grandfather of Winston Churchill.