Forgotten Co Antrim tycoon who shaped America’s railroads rediscovered after 130 years

James McHenry (1817-91) pictured in Paris on railroad business, 1861. 

(Image: Carte de visite, James McHenry, 1861 –  

Allegheny College Library Special Collections)

A powerful 19th century financier who once moved in the same circles as some of the biggest names in American industry has been largely erased from history for more than a century — but groundbreaking new research is now bringing his extraordinary story back into the spotlight.

Historian Dr Barry Henderson is set to unveil the findings of years of doctoral research into James McHenry, an Ulster-born Irish-American railroad tycoon whose influence stretched across Britain, Europe and the United States during one of the most transformative periods in modern history.

The special talk, taking place at Larne Museum on Saturday 13 June from 1pm to 2.30pm, forms part of Mid and East Antrim Borough Council’s America 250 programme ahead of the 250th anniversary of the signing of the United States Declaration of Independence.

What makes the story particularly striking for local audiences is that McHenry’s journey began in Larne before he went on to become a major force in transatlantic shipping, American railroad expansion and Victorian-era finance.

From Larne to the heart of global finance

Dr Henderson’s doctoral dissertation, titled The Forgotten Tycoon, explores the life of James McHenry (1817–1891), who was born in Larne before emigrating to the United States as an infant with his family.

He was the son of noted Ulster-Scots writer and diplomat Dr James McHenry (1785–1845), but it was his own rise through the worlds of shipping, railroads and international finance that would ultimately make him one of the most influential — and controversial — businessmen of his era.

After returning across the Atlantic as an adult, McHenry established himself in Liverpool during the 1840s as a pioneering transatlantic shipping magnate before turning his focus toward American railroad development.

He later became a major figure in Victorian London’s financial world, helping funnel European investment into vast American infrastructure and nation-building projects at a time when the United States was rapidly expanding westward.

Historian Dr Barry Henderson

According to Dr Henderson, McHenry’s reach extended far beyond business alone.

He described the Larne-born financier as a man whose influence stretched “from Victorian Britain to America, and across the courts of Europe”.

“McHenry was a powerful figure whose sphere of influence ranged from Victorian Britain to America, and across the courts of Europe,” Dr Henderson said.

“He was a contemporary, competitor and collaborator with the likes of Cornelius Vanderbilt and John D Rockefeller and was particularly close with Napoleon III and the Spanish House of Bourbon dynasty.”

A visionary to some — a ‘robber baron’ to others

Despite operating at the centre of international finance and industry during the 19th century, McHenry’s story faded from public memory after his death in 1891.

Dr Henderson said the upcoming Larne talk will explore both the remarkable rise and dramatic fall of a man once celebrated as a visionary industrialist before later becoming associated with the ruthless excesses of America’s Gilded Age.

“Despite his significance, McHenry has remained a largely forgotten figure,” he said.

“At this talk, I will share the story of a complex man who once rose to be celebrated as a visionary financier, captain of industry, and nation-builder, but then fell from grace, accused of embodying the ruthless cutthroat characteristics of America’s emerging class of Gilded Age industrialists — men dubbed ‘robber barons’ by their critics.”

He added:

“Until now, McHenry has been something of a shadowy figure in financial history. I am delighted this research will bring his contributions to American development more clearly into view and reconnect Larne with one of the 19th century’s more fascinating and influential figures.”

Larne’s links to America highlighted through America 250 programme

The Atlantic & Great Western Locomotive No. 2., ‘James McHenry’,  pictured at Meadville, Pennsylvania, 1863.

(Image: The Metropolitan Museum of Art) 

The event forms part of a wider programme examining the deep historic connections between Ulster and the United States, with Mid and East Antrim Borough Council using the America 250 initiative to spotlight stories of migration, influence and international impact originating from the borough.

Mayor of Mid and East Antrim, Alderman Tom Gordon, said McHenry’s story demonstrated how a figure from Larne became connected to major global developments in economics, politics and finance.

“Dr Henderson’s research demonstrates how through McHenry’s story Larne is connected to wider historic themes of American development, global finance and the evolution of the 19th century Atlantic economy,” he said.

“It is particularly fitting that Larne Museum, in the town where McHenry’s extraordinary story began, is hosting this talk.

“It is important that we remember the history of our Borough. This event will further highlight the immense global impact of County Antrim’s emigrants on major historic developments abroad, particularly in the United States.”

Research aims to restore forgotten figure to history

Dr Henderson, originally from Donegal and now based in Fermanagh, completed his PhD in History at Queen’s University Belfast and currently works at Enniskillen Library’s Heritage Department.

His ongoing research into McHenry’s life is expected to continue beyond the Larne event, with a forthcoming book and additional articles planned exploring the financier’s wider activities as an industrialist, publisher, philanthropist, arts patron and promoter of emerging industries.

Together, the work aims to restore James McHenry to what researchers believe is his rightful place in history — not simply as a forgotten businessman, but as one of Ulster’s most influential emigrants to the United States during the 19th century.

The Larne Museum event is expected to attract those interested in local history, Ulster-Scots heritage, American history and Irish-American connections, while also offering a rare insight into how one man from County Antrim became intertwined with some of the biggest political and economic transformations of the modern world.