Career
Intent on making his fortune, he left Maine for New York City, where he specialized in the import of silk and dry goods along the Hudson River, setting up a location at 48 Broad Street, prior to 1847.[7] He became a wealthy merchant and importer, changing his location to Reade St, prior to 1861.[8] His business interests eventually diversified away from trading in merchandise, and into printing, and fire and life insurance, along with a number of realty projects in New York City from the 1850s onwards.[9][10] He was a large shareholder of the Yonkers and New York Fire Insurance Company. Records from 1863 to 1865 illustrate that Atherton held 10% of the capital stock in this company.[11] He also held 10% capital stock in the Widows and Orphans Benefit Life Insurance Company.[12]
He was a founding member of a syndicate of wealthy gentlemen, including Samuel D. Babcock, William W. Woodworth, Charles W. Foster, and William D. Cromwell, who purchased 100-acres of land in 1852 in the Hudson valley, which thereafter became Riverdale Park.[13] Atherton and this wealthy syndicate had been inspired by the recently deceased landscape architect, Andrew Jackson Downing, and set about planning a suburban residential development in Hudson Hill, as a utopia in the style and tradition of Llewellyn Park in New Jersey. Atherton and his syndicate designated a large area of land that descended in the direction of the Hudson River as a green area, free from future development.[9][14] Intent on having a fine Riverdale estate, Atherton appointed the architect, Thomas S. Wall to design his new residence.[9] A Gothic Revival style home built to Atherton's specifications, which later included with some Colonial Revival modifications after his death.[15] His neighbors included his business partners, Samuel D. Babcock, William W. Woodworth and Charles W. Foster. He was subsequently joined in 1856 by Henry Foster Spaulding, followed by the financier and politician, Levi P. Morton.[16]
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In 1853, he applied with for land grants at the time underwater adjacent to the Hudson Valley Railroad. This involved land reclamation.[17] This area of Yonkers, New York was incorporated during the 1860s, and includes Atherton Street, named in his honor.[18]
Leading up to the death of his wife in 1869, Atherton retired as a New York merchant. According to the 1870 census the value of his real estate was $75,000; and his personal wealth was in excess of $50,000.[19]
Although Atherton retired from private enterprise as a merchant and importer, he continued as an investor for the next ten years, holding stock in numerous companies. In the 1870s, he entered into partnership with E. Brooks, forming the stationary and printing company, Atherton & Brooks; an enterprise that his son assumed daily management and oversight.[20] This company was responsible for inventing a method of binding newspapers and music sheets.[21]
At the age of sixty-five, he entered into public service as a diplomat, replacing Andrew Cone[22] as consul of the United States in Pernambuco, Brazil from 1880.[23]
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His diplomatic posting to Pernambuco was his only overseas appointment for the United States Government. Brazil–United States relations had been established in 1815 and the United States were the first country to open a consulate in Recife, Pernambuco. Records show that he had been on the US Treasury payroll from the 1870s.[24] His consular report relating to an alleged Brazilian cancer cure was dispatched to Washington, D.C. during 1884,[25] and was presented to the United States Congress the following year.[26] He is likely to have remained in this diplomatic role for nearly 9 years. His consular reports continued to 1887.[27]
