![]() George Peabody founded the music conservatory in 1857, and it is now part of the Johns Hopkins University. The Mount Vernon Place United Methodist Church and the Peabody Institute are seen from the corner of Charles and Centre streets in Mount Vernon. While only living in Baltimore for 20 years, the frugal bachelor - who eschewed paying for cabs and rode horsecars instead, lived in rented rooms, dined on plain food and abstained from drinking - endowed the Peabody institute with a $1.4 million gift in 1857. Peabody became a well-known financier through their prosperous business, which was the progenitor to J.P. Peabody went into banking and in 1837 moved to London, where his partner in George Peabody and Co. The business later expanded to include branches in Philadelphia and New York. ![]() George Peabody was 20 years old when he and Riggs established Peabody & Riggs, a wholesale drapery business located at Baltimore and Liberty streets and Hopkins Place. ![]() The Peabody Institute owes its existence to a poor boy from Danvers, Mass., who came as a volunteer in the War of 1812 to Baltimore, where he became friends with Elisha Riggs, a member of a prominent Maryland family. A 1930s view of the Peabody Institute in Mount Vernon.
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