Background
Born in Amesbury, Massachusetts, Paine was the son of Albert Paine and Sarah (Sergeant) Paine.
Born in Amesbury, Massachusetts, Paine was the son of Albert Paine and Sarah (Sergeant) Paine.
He was also instrumental in the creation of the mining venture Copper Range Consolidated Company. He began his career in finance in 1873 as a clerk at a bank in Boston. In 1880, with a loan from his father, he partnered with Wallace G. Webber to create the brokerage firm, Paine, Webber & Company.
Outside of building a successful brokerage business, Paine was involved in the major mining venture, Copper Range Consolidated Company in the "Copper Country" of Michigan.
In 1899, he invested in the Copper Range Consolidated Company and helped arrange the financing for the company. He then served as president of the company.
After running his highly successful brokerage business for nearly fifty years, Paine died on September 24, 1929, just a few weeks before the Wall Street Crash of 1929. The Sarah Sargent Paine Memorial Library in Painesdale is named after Paine"s mother.
They became members of both the Boston and New York Stock Exchanges.