Winthrop Sargent Gilman was head of the banking house of Gilman, Son & Co. in New York City. Born and raised in Ohio, he had parents and ancestors from New England. Part of the family had already established the banking business in New York. Gilman developed as a businessman in the northwest region with wide interests.

Elijah Parish Lovejoy was an American Presbyterian minister, journalist, newspaper editor, and abolitionist. After his murder by a mob, he became a martyr to the abolitionist cause opposing slavery in the United States. He was also hailed as a defender of free speech and freedom of the press.