Circular of Information

The Jacob Tome Institute Port Deposit, Maryland
1897-1898

Source: Jacob Tome Institute Circular of Information 1898

On Jacob Tome
"Hon. Jacob Tome, the distinguished Maryland financier, statesman, philanthropist and Founder of the Jacob Tome Institute, was born in York County, Pennsylvania, August 13, 1810."

"His parents were godly Lutherans and into his early life they instilled principles of integrity, which influenced his whole career. The few months of district school session afforded his only opportunity for education. When 16 his actual work began - the death of his father and the necessity for aiding in the support of the family, induced him to seek implement of a neighboring farmer, with whom he remained about a year. Another year was spent in superintending fisheries on the Susquehanna River, and two more in business houses in Marietta, Pa., then followed One term of teaching in a country school."

In Port Deposit
"In 1833 he came to Port Deposit, which place, at that time, could boast few residences, but was an important commercial center. Quick to comprehend a situation, and swift to utilize it, Mr. Tome realized his opportunity, but determined to fit himself better for future work, by spending the winter at Philadelphia, in the study of bookkeeping. "Returning to Port Deposit the following Spring, he became clerk for a lumber firm. His industry and business ability led Mr. David Rinehart, a Marietta, Pa., banker and lumber dealer, to proffer a partnership, to which he would contribute $5,000 and Mr. Tome his services. This venture was phenomenally successful, and provided a stepping stone to other enterprises - dealing in grain and lands - interests in canals, steamboats, railroads and banks.

Maryland State Senator
"In 1864, at the urgent call of the State, Mr. Tome became a member of the Maryland State Senate, where he did efficient service in readjusting the disordered finances.

Philanthropist
"His appreciation of the power that education brings led him to give liberally to institutions of learning, notably to Dickinson College, Carlisle, Pa. "The Jacob Tome Institute is the outcome of the desires and plans of years, and for it he has most generously provided. His presence was a stimulus to teachers and students and his death, which occurred March 16, 1898 leaves a void which cannot be filled."
The Jacob Tome Institute of Port Deposit was founded by Jacob Tome in 1894 - when it opened although chartered in 1889. His gifts during his lifetime amounted to $1,650,000. By his will the Institute was made residuary legatee and its total endowment aggregated upward to three and one half million dollars.
 

The following is from the Mainsheet of the former USNTC Bainbridge
(a Section of the former naval base was dedicated as The Tome Area because the Tome School for Boys - a private preparatory academy created after Mr. Tome's death with the money he left the school was purchased by the Navy to create the base and used as a preparatory academy for Annapolis).

"The Naval Academy Prep School is often referred to as The Tome School and the Tome Inn houses some of its students. In Port Deposit stands the original Tome School (now razed in 1980) and Route 276 is called Jacob Tome Memorial Highway."

Jacob Tome
"As a State Senator he served admirably opposing the building of a bridge crossing the Susquehanna because it would not allow tugs to pass underneath. The "Bridge Fights" became notorious and finally the plans were altered to provide for an elevated span. He was chosen unanimously by his party to run for Governor but was defeated by William Pinkney White and the heavy Democratic majority.

Civil War Hero
During the Civil War some claimed that only his ingenuity saved the city of Baltimore. Late one night he silently rowed across the Susquehanna River and cut the moorings of boats on which a confederate detachment was making its way down the Susquehanna. These boats were to have transported them on the final leg of their journey toward Baltimore. The plans for the Confederacy were foiled.

 
Cecil County's first millionaire
"Jacob Tome was a veritable wizard of finance possessing a Midas like power that insured success for all his enterprises. By his 40th year he was Cecil County's first millionaire." He died in 1898 with approximately 89 million dollars worth of acquired wealth. To compare that amount of wealth to year 2002 terms of buying power it is worth approximately 2.2 billion