Joseph P. Griffin

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Joseph P. Griffin Joseph P. Griffin was a member of the Chicago Board of Trade who served as its president in 1916, 1917 and 1921. At the time of his election in 1916, he was the youngest member ever elected as president of the CBOT. He was the western managing partner of the firm J.S. Bache. Background Griffin was born in Chicago, March 7th, 1878. He left school at the age of 13 and went to work for the American Glucose Company, for which he would later serve as its president. By the time he was 30, he had served as secretary and treasurer of the National Starch Company, and director of the Corn Products Company. In 1910, Griffin left his previous employers and founded the grain commission firm known as J. P. Griffin and Company. He was nominated by petition as a director of the Chicago Board of Trade in 1907 and elected by his fellow members by a large majority of votes. In 1914, he was elected to be vice president of the CBOT and in 1916, he was elected to be its president. In the 1916 election, he beat J. A. Patten, a significant market player during the 20th century, for the presidency. He was re-elected unanimously in 1917. Griffin promoted the idea of of a new building for the CBOT, but was constrained by its projected cost. He was also part of efforts to repeal the Stamp Tax of 1914, which imposed excessive burdens upon grain transactions. He was involved in assisting plans for a new and better clearinghouse system. In 1916, Griffin followed Caleb H. Canby as the president of the CBOT after Canby served for two years. Griffin would serve for two years, 1916 and 1917, and be followed in 1918 by former CBOT President A. Stamford White, who had served in 1910. Griffin would serve as CBOT president again in 1921. Griffin was a member of the Westmoreland Golf Club and the Chicago Athletic Association. Politically he was associated with the Republican party. Education References

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