William Lawrence was an American merchant and philanthropist.
Background
William Lawrence, the brother of Amos and Abbott Lawrence, was born in Groton, Massachussets, United States. He was the third son of Samuel and Susanna Parker Lawrence, and a descendant of John Lawrence who emigrated from Suffolk County, England, and settled in Watertown, Massachussets, in 1635.
Career
Lawrence originally intended to be a farmer, but poor health caused him to leave home in 1809 and spend the winter with his brother, Amos, in Boston, where the latter had recently established himself in business. Finding business to his liking, William set up for himself in the following year as a commission merchant and prospered. In 1822 he took into partnership his younger brother, Samuel, forming the firm of W. & S. Lawrence.
In 1825, the brothers, who had previously been chiefly importers, became interested in domestic manufactures. It was through their agency that the first incorporated company for the manufacture of woolen goods was formed, the Middlesex Manufacturing Company, with a plant at Lowell, then recently formed. Lawrence continued in active business, principally in the woolen commission business, until 1842, when he retired with what is described as "an ample fortune. "
William Lawrence's most important public service was his part in the establishment of the so-called "Suffolk Bank System. " This bank, designed to put the currency of New England on a sound basis, was chartered in 1818, and Lawrence served on the board of directors from its organization to his death, thirty years later. He was also active in the promotion of public improvements in Boston, and a generous contributor to local charities.
Achievements
Connections
His wife, Susan Ruggles Bordman, born April 29, 1787, whom Lawrence married May 20, 1813, was the daughter of one of Boston's leading citizens and contributed a substantial patrimony to the family fortune. Nine children were born, of whom four survived their father.