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Welcome to The Philadelphia Newsletter!

In today’s edition:

• Maxey inks max extension with Sixers

• AI art of the week

• A deep dive into the life of Robert Bogle

• And more…

Quote of the Week

“Go as far as you can see; when you get there, you’ll be able to see further.”

—Thomas Carlyle

Sponsored

Yes, this platform’s 77% return is an outlier – but the rest may surprise you

The news is true: Masterworks’ 15th sale just weeks ago returned an impressive 77% to investors. While such a high return is an outlier for the blue-chip art investing platform, you might be wondering what their prior sales delivered. Glad you asked… 

Every one of their sales has returned a profit to investors, with 12 of them delivering double-digit returns, and 1 delivering triple-digit annualized returns. 

In full, Masterworks has over 300 paintings and their 16 exits have delivered: 32%, 39.3%, 36.2%, 27.3%, 9.2%, 33.1%, 21.5%, 17.8%, 13.9%, 35%, 10.4%, 325.5%, 4.1%, 17.6%, 77.3%, and 13.4% net annualized returns. 

Every sale but one outperformed the stock market in the period from when it was offered to when it was sold. 

With performance like that, offerings on the platform can sell out in minutes. However, Local News Newsletter readers can skip the waitlist to join with this exclusive link.

Trivia

Here is your trivia question of the week. The answer will be shown in next week’s newsletter. Which do you think it is? No cheating!

Philadelphia's famous Wanamaker's department store was the first in the U.S. to fully embrace what holiday tradition in 1911?

A) Black Friday Sales

B) Christmas Window Displays

C) Santa Claus Meet and Greets

D) Christmas Light Shows

Answer to Last Week's Trivia: The historic Philadelphia hotel, opened in 1904, known for being the first in the world to have running water and a telephone in every room is A) The Bellevue-Stratford Hotel.

News

💼 Business

Shootout At South Philly Business Leaves 5 Hurt Monday Night. (link)

Morgan Properties acquires 4 Philadelphia-area apartment complexes as part of 11-property portfolio. (link)

🏒 Sports

Maxey agrees to richly earned max extension with Sixers. (link)

De'Anthony Melton Parts Ways With Sixers in Free Agency. (link)

🏦 Finance

Philadelphia region fails to land $75M federal life sciences tech hub grant. (link)

Upcoming Events

Here are some events that are happening in our city this week. There is a good mix between sports, entertainment, conferences, concerts, and more.

Sports

⚾ Philadelphia Phillies vs. Los Angeles Dodgers
Citizens Bank Park Philadelphia, PA
Thursday July 11 | 6:05 PM | (more info)

⚾Philadelphia Phillies vs. Oakland Athletics
Citizens Bank Park Philadelphia, PA
Friday July 12 | 6:40 PM | (more info)

Music & Concerts

🎵 Northlane: Mirror's Edge North American Tour
Theatre of Living Arts Philadelphia, PA
Thursday July 11 | 7:00 PM | (more info)

🎶 Gimme Gimme Disco (21+)
Brooklyn Bowl Philadelphia
Saturday July 13 | 9:30 PM | (more info)

Family

🎨July 13 Toddler Art Club Ages 2-5 with Jackie Lehrian
The Tacony LAB Community Arts Center 6918 Torresdale Avenue Philadelphia,
Saturday, July 13 |10 - 10:45am EDT | (more info)

Image of the Week

Every week, I have a habit of making some AI art about our city.

This week, I typed in “Philadelphia at night, lit by neon and holograms.” and this is what I got.

Let me know what ideas you have for this. I really enjoy making these types of photos.

Philadelphia Historical Events

1899: The founding of the University of Pennsylvania Law School.

In 1899, the University of Pennsylvania Law School marked a significant milestone in its history with the founding of the law department as a modern professional school of high distinction. This transformation was led by William Draper Lewis, who served as the distinguished dean from 1896 to 1914. The school's evolution from a law department to a professional school reflected its commitment to providing high-quality legal education and scholarship. This pivotal moment in 1899 set the stage for the University of Pennsylvania Law School to become a leader in legal education and a respected institution in the field of law.

The University of Pennsylvania Carey Law School, as it is known today, traces its origins to a series of lectures on law delivered in 1790 through 1792 by James Wilson, one of the signers of the United States Declaration of Independence and the United States Constitution. Over the years, the law school has continued to uphold its core mission of providing legal education and scholarship, hosting lecture series, symposiums, and other educational programs. The school's commitment to excellence and its enduring legacy have solidified its reputation as a prominent institution in the legal field.

In recognition of its transformative impact and longstanding involvement with the University of Pennsylvania, the law school was named the University of Pennsylvania Carey Law School. This historic institution has played a pivotal role in shaping the landscape of legal education and has received significant support, including a historic $125 million gift from the W. P. Carey Foundation. This generous contribution reflects the foundation's commitment to advancing legal education and further solidifies the University of Pennsylvania Carey Law School's position as a leader in the field.

Famous People From Philadelphia

Nicholas Biddle (1786–1844): President of the Second Bank of the United States.

"Nicholas Biddle (1786–1844)

Nicholas Biddle was born into the Biddle family of Philadelphia, Pennsylvania, on January 8, 1786. His parents were Charles Biddle, a successful merchant and vice president of the Supreme Executive Council of Pennsylvania, and Hannah Shepard, the daughter of a North Carolina merchant. Throughout his life, Biddle worked as an editor, diplomat, author, and politician who served in both houses of the Pennsylvania state legislature. Here is a comprehensive biography of Nicholas Biddle:

Early Life and Education (1786-1801)

Nicholas Biddle was born on January 8, 1786, in Philadelphia, Pennsylvania, into the prominent Biddle family. In 1801, at the age of 15, Biddle graduated as valedictorian from Princeton University, showcasing his exceptional intellect and academic prowess.

Career and Political Involvement (1801-1814)

After completing his education, Biddle worked for a number of prominent officials, including John Adams and James Monroe, gaining valuable experience in diplomacy and politics. Biddle's involvement in politics led to his election as a member of the American Philosophical Society in 1809, marking the beginning of his influential career in public service.

President of the Second Bank of the United States (1816-1836)

In 1816, Biddle was appointed as the president of the Second Bank of the United States, a position he held for two decades. During his tenure, Biddle played a pivotal role in shaping the financial landscape of the United States, overseeing the bank's operations and policies.

Connection to Philadelphia

Nicholas Biddle's roots in Philadelphia ran deep, as he was born into a prominent family in the city and later became a prominent figure in Philadelphia's political and financial circles.

Bank War and Later Years (1836-1844)

Biddle's presidency of the Second Bank of the United States was marked by the infamous "Bank War" with President Andrew Jackson, a conflict that had significant implications for the nation's financial system. Despite the challenges and controversies surrounding the bank, Biddle continued to be involved in public service and financial matters until his passing in 1844.

Key Achievements of Nicholas Biddle:

• Appointed as the president of the Second Bank of the United States, serving for two decades.

• Played a pivotal role in shaping the financial landscape of the United States during his tenure.

• Elected as a member of the American Philosophical Society, showcasing his intellectual and academic contributions.

• Prominent figure in Philadelphia's political and financial circles, leaving a lasting impact on the city's history.

• Engaged in diplomacy and politics, working for prominent officials and gaining valuable experience in public service.

Nicholas Biddle's legacy as a prominent figure in Philadelphia's history and his influential role in shaping the nation's financial landscape continue to be remembered and studied. His contributions to public service, finance, and politics have left a lasting impact on the United States.

Connect With Me

If you want to connect, reply to this email and let me know what you think.

I would love to hear from you. Don’t be shy.

-Matthew Larsen

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