Gay was born in Brooklyn on September 14, 1875.[1] He was a son of Charles Abram Gay and Anna Mitchell (
née Campbell) Gay.[2] His younger brother was Robert Malcolm Gay, a prominent English professor.[3]
After "engaging in the fire insurance, banking and wholesale coal businesses," he purchased his seat and became a member of the
New York Stock Exchange in 1911, four years later forming the firm of Gay & Goepel.[4] In 1919, he merged his firm (then known as Charles R. Gay & Co.) with Whitehouse & Co., was reportedly the oldest firm on the Exchange.[5]
In 1935, when he was senior partner at Whitehouse & Co. (with offices on the 20th floor of
1 Wall Street), he was elected president of the Exchange, succeeding
Richard Whitney.[6] Gay served three terms as president, retiring in May 1938.[7] He was president during a trying time for the Exchange and financial markets and often traveled to
Washington, D.C. to meet with the
Securities and Exchange Commission and to participate with Senate inquiries.[8][9][10]
After his tenure as president of the Exchange, he became the head of Winthrop, Whitehouse & Co., a longtime securities firm established in 1828.[11] At the time of his death, he was serving on the board of directors of the
Dime Savings Bank.[2]
Personal life
In 1898, he married Jennie Campbell Bowdish, a daughter of the Rev. Wellesley Wellington Bowdish and Jennie Elizabeth (
née Campbell) Bowdish. They lived at 440 East 19th Street in the
Flatbush section of Brooklyn.[11][12] Together, Jennie and Charles were the parents of one son:[11]
William Campbell Gay, who was also a member of the New York Stock Exchange and who lived in
Halesite on
Long Island.[2] He married Evelyn W. Sherman.[13][14]