10 Companies that profited off the Slave trade
New York Life found that its predecessor (Nautilus Insurance Company) sold slaveholder policies during the mid-1800s.
Tiffany and Co. was originally financed with profits from a Connecticut cotton mill. The mill operated from cotton picked by slaves.
Aetna insured the lives of slaves during the 1850’s and reimbursed slave owners when their slaves died.
The suit retailer started their company in the 1800s by selling clothes for slaves to slave traders.
Two companies (Mobile & Girard and the Central of Georgia) became part of Norfolk Southern. Mobile & Girard paid slave owners $180 to rent their slaves to the railroad for a year. The Central of Georgia owned several slaves.
Bank of America found that two of its predecessor banks (Boatman Savings Institution and Southern Bank of St. Louis) had ties to slavery and another predecessor (Bank of Metropolis) accepted slaves as collateral on loans.
U.S.A. Today reported that its parent company (E.W. Scripps and Gannett) was linked to the slave trade.
Two institutions that became part of Wachovia (Georgia Railroad and Banking Company and the Bank of Charleston) owned or accepted slaves as collateral on mortgaged property or loans.
AIG purchased American General Financial which owns U.S. Life Insurance Company. AIG found documentation that U.S. Life insured the lives of slaves.
JPMorgan Chase reported that between 1831 and 1865, two of its predecessor banks (Citizens Bank and Canal Bank in Louisiana) accepted approximately 13,000 slaves as loan collateral and seized approximately 1,250 slaves when plantation owners defaulted on their loans.
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