Rash's Surname Index
Notes for Edward Young TOWNSEND
Philadelphia Inquirer, November 6, 1891
"EDWARD Y. TOWNSEND DEAD
The President of the Cambria Iron Company Passes away.
Edward Y. Townsend. president of the Cambria Iron Company, died yesterday of heart disease, at his country home, Bryn Mawr. He had been ill for some months and his end, although sudden, was not unexpected.
Mr. Townsend was one of the best known business men of the city and was a descendant of an old Pennsylvania family. His father was John W. Townsend and his mother, Sibilla A. Price, daughter of Philip Price. He was born at West Chester, Pa., in October 1824, and received his early education at a West Chester academy. At the age of 18 years he left the academy and entered the wholesale dry goods house of Wood, Abbott & Co., of which the principal partners we4re Richard D. Wood, James Abbott, Josiah Bacon and John Yarrow. The firm was one of the largest in the dry goods line and young Townsend often made long journeys to the west and south.
When the firm was dissolved and the business acquired by Wood, Bacon & Co., Mr Townsend, whose ability was appreciated was made a partner, and remained in the firm until a party of capitalists, headed by Rich. D. Wood, bought the Cambria Iron Works, organizing them under the name of Wood, Morrell & Co. He took an interest and was made vice president of the concern. In 1873 he was promoted to he presidency, which office he held until the time of his death.
Under his management the business was soon landed on a solid financial basis. The Johnstown flood, which destroyed a great portion of the works, gave Mr. Townsend a shock he never fully recovered from. He worked hard to allay the sufferings of the people, but the loss of his business seemed to unnerve him. Mr. Townsend leaves a widow and two grown up sons."
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