Background
Sabin, Charles Hamilton was born on August 24, 1868 in Williamstown, Massachusetts, United States. Son of Thomas and Cordelia (Eldridge) Sabin.
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Sabin, Charles Hamilton was born on August 24, 1868 in Williamstown, Massachusetts, United States. Son of Thomas and Cordelia (Eldridge) Sabin.
Growing up on a farm, he obtained his schooling chiefly at the Greylock Institute in South Williamstown, from which he was graduated at the age of seventeen.
He first found employment in a flour store in Albany, N. Y. , but by the time he was twenty-one he held a clerkship in the National Commercial Bank of Albany, which he left for a subordinate position in the Park Bank. After seven years with the Park Bank, he was made cashier in 1898 of the Albany City National Bank. To that institution he brought so much new business - the deposits were doubled in four years - that he again attracted the attention of the directors of the National Commercial Bank, who elected him vice-president in 1902.
During the panic year of 1907, when the position had rather an uncertain future, he was called to the presidency of the National Copper Bank of New York City and held it for three years, until a merger with the Mechanics and Metals National Bank was accomplished. At that time he took a vice-presidency in the Guaranty Trust Company, then in a period of rapid expansion, and in 1915 was promoted to the presidency.
In 1921 he gave up the presidency in the Guaranty Trust Company to become chairman of the board, and with the exception of a part of one year he held that position until his death. He also held directorships in various corporations.
In New York in the later years of his life he devoted much time and thought to the advancement of the Boys' Club on the East Side founded by E. H. Harriman. He died of cerebral hemorrhage at his Long Island country home in the Shinnecock Hills.
He represented the New York bankers in dealing with the tremendous and imperfectly understood problems of international finance that followed the war. Although, like other individual bankers, he was overshadowed by his institution, it was he who held the helm through the stormy years 1915-21. Under his direction the Guaranty Trust Company took a leading part both during and after the World War in enlisting the interest of American capital in financial and economic conditions abroad, publishing a series of pamphlets on the subject.
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Quotations: In the foreword to The Solvency of the Allies, Sabin wrote in 1919: "This is a time when all thought of profits should be forgotten and the simple necessities of the situation faced. Our first and single duty now is to help restore the world to normal conditions. "
His distinction lies in the fact that he was a "career man, " who owed little to circumstances and almost everything to his own adaptability and energy.
He married Pauline Morton on December 1916.
