History of Detroit, a chronicle of its progress, its industries, its institutions, and the people of the fair City of the straits, / by Paul Leake ... [Vol. 3]

HISTORY OF DETROIT

1021

was elected, by an overwhelming majority, alderman of the Second
ward of the city of Detroit, serving from 1898 until 1901. He was
then chosen as comptroller of the city, a position he filled to the full
satisfaction of the people during the years 1906 and 1907.
It was seen that the banking facilities of Detroit were inadequate
to supply the demands made upon them, and as there was an excellent
opening for another financial institution, Mr. Joy became interested in
the formation of the National Bank of Commerce, of which he was
made president by the unanimous vote of the board of directors. From
its inception the bank has been a success. Starting on the second floor
of the Union Trust Company, predictions were made that it was too
far from the street level to be a success, but the judgement of its
founders, and their opinion that business will go where it is best taken
care of, was vindicated, for upon the opening of the bank there were
more than a half million in deposits. Steadily working its way into
the estimation of the people, its conservatively energetic course during the crisis of 1907, placed it firmly in the confidence of the people,
and the name of R. P. Joy will for all time be inseparably connected
with that of the National Bank of Commerce.
Possessing marked excutive ability, a trait inherited from his father,
Mr. Joy by no means confines his business activity to the bank. He is
vice-president of the Detroit Copper & Brass Rolling Mills, a director
of the Packard Motor Car Company; a director of the Diamond Manufacturing Company; a director of the Jackson, Lansing & Saginaw
Railroad Company; vice-president and treasurer of the Detroit Electric
Railroad Depot and Station Company; and is a stockholder in a number
of other manufacturing enterprises. He is a member of the Detroit
Club; the Detroit Board of Commerce; the Yondotega Club; the Country
Club; The Old Club; the New York Yacht Club and other clubs.
Mr. Joy was united in marriage to Miss Mary Moore in 1908.
He comes honestly by his executive ability, as his father, the late
James F. Joy, was one of the foremost business men of the United
States, a recognized authority on finance and one of the most able
railroad managers of the middle west. His productive genius was
gigantic, and his life was one of impregnable integrity and honor.
James Frederick Joy, who left behind him a reputation to be proud
of, was born at Durham, New Hampshire, on the second of December,
1810, and was a son of James and Sarah (Pickering) Joy. Too honest to
be politic, too conscientious to be sycophantic, he at all times told the truth
as he saw it, thus making enemies of small men, and corralling for all
time the friendship of men of affairs. His word was as good as his
bond, and those who came in close contact with him had the opportunity
of witnessing the fineness of his character, with a result that he was
loved for himself by those who knew him best.
Nearly a quarter of a century ago the writer had occasion to see
him with regard to the then new plan for a union depot. Being in
the newspaper business, the writer, as he was accustomed to do in all
cases of emergency, did not hesitate to intrude upon the privacy of
Mr. Joy at his home on West Fort street.
"Well, young man," exclaimed Mr. Joy, "I have guests to entertain and can spare no time for idle interviews, so I beg you will excuse
me."
"One moment, Mr. Joy," I exclaimed. "This is no idle interview.
I know you have in your possession the plans for the new Union Depot,
also a profile picture of the new building."
"Who told you so?"
"That is neither here nor there: I never divulge the sources of my
information."