William Nelson Cromwell , a millionaire corporate lawyer , was known as “ the physician of Wall Street ” for salvaging the wreckage from railroads and other large companies when they went bankrupt .
Elihu Root began his career as a Wall Street lawyer and later served as Secretary of War for Presidents McKinley and Roosevelt , as well as Roosevelt ’ s Secretary of State and as a US senator .
Charles Evans Hughes , who began his career as a corporate lawyer in partnership with Cravath , rose to national prominence as lead investigator of the life insurance industry for the New York State Legislature in the wake of the Equitable scandal .
best law school graduates from Columbia and Harvard , many of whom went on to illustrious careers of their own . Among them was Charles Evans Hughes , who married Carter ’ s daughter and would later serve as governor of New York , US Secretary of State , Chief Justice of the US Supreme Court and 1916 Republican candidate for President .
Carter ’ s office was described as “ a veritable nursery for young lawyers of talent .” Another of Carter ’ s “ kids ,” as he called them , was George Wickersham , President William Howard Taft ’ s future attorney general . Wickersham would become known as “ the scourge of Wall Street ” for his aggressive prosecution of antitrust cases , angering some of the same companies he had once represented .
Carter ’ s younger partner , the elfin William Hornblower , was nominated to the Supreme Court in 1893 , at age 42 , by his friend Grover Cleveland . Opinionated and headstrong , and a voice against “ political quackery ,” Hornblower saw his confirmation fail , a victim of private animosities . But he did frequently argue before the Supreme Court , even honeymooning in Washington , DC , so his new bride could watch his argument .
Hornblower was an irritable and difficult man , at least as Hughes remembered him many years later . Hughes never forgot how , as a young lawyer proofreading one of Hornblower ’ s eloquent briefs , he was castigated for an egregious error . Hughes misread Hornblower ’ s handwriting , with the result that the phrase “ seven thousand dollars in CASH ” came out in print as “ seven thousand dollars in COAL .”
Hornblower was one of the best lawyers in the city , though , and he came to believe he deserved a larger share of the Carter firm ’ s profits . In 1887 he and Byrne broke with Carter to form their own firm . They took the Carter firm ’ s more lucrative clients with them and asked Cravath to join them . But young Cravath chose to stay with his mentor Carter , who offered him a partnership together with Hughes .
To cement the deal , Hughes took Cravath to dinner at Martinelli ’ s , one of the city ’ s top Italian restaurants , and over a bottle of Chianti told him they would name the firm Carter , Hughes & Cravath . Banging his fist on the table , Cravath ( who apparently had not been listening closely ), exclaimed , “ Make it Carter , Hughes & Cravath , and I ’ ll join .” On January 1 , 1888 , the newly christened firm opened
for business at 346 Broadway in the New York Life Building , near City Hall and the courthouses .
Only a prodigy such as Cravath could have been named a partner in a respected New York law firm a mere year and a half after admission to the bar . His extroverted personality , supreme self-confidence and imposing physical appearance all worked in his favor . At six feet four , 240 pounds , he had a huge head accentuated by small circular eyeglasses , and thick , wavy brown hair . In the words of one of his partners , he was a man of “ massive elegance ” and “ glittering presence .”
Soon enough Cravath ’ s personal magnetism helped him land his first major client . Cravath ’ s maternal uncle was an officer in some of George Westinghouse ’ s companies in Pittsburgh , and he introduced his nephew to the famed inventor of the railway air brake . A few years earlier , Westinghouse had become interested in the emerging field of electrical power . Now , Westinghouse was seeking someone talented and energetic enough to represent him in his increasingly bitter legal battles with Thomas Edison . It would make Cravath ’ s name within New York ’ s legal and business community .
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