Derby, Elias Hasket

Elias Hasket Derby (1739-99) known as "King" Derby. Though he never went to sea himself, he was a successful merchant taking his sea vessels to new trading ports of the Phillipines, Russia India, Africa and the East Indies. Derby's ship the Grant Turk reached Canton China in 1786, making it the third American ship to go to China. Known as American's first millionaire, he wasn't afraid to take chances. He used innovative ideas such as using a "supercargo" or seagoing agent, to relieve the sea captain of the commercial concerns. From the Revolutionary War until his death in 1799, Derby's vessels made more that 330 voyages, employing 100 sea captains for his vessels. He was known to treat his sailors better than was average, providing fresh vegetables on voyages, and he never trafficked in the slave trade.

Built Derby mansion

250th birthday celebration of Derby Aug. 1989

See Also

• "Salem merchant became America's first millionaire" Salem Evening News, Aug. 16, 1989. p.11

• "McIntire mansion overshadowed Old Town Hall" Salem Evening News, Aug. 15, 2001, p. A3